Question: Payment for services comes from two sources: ( 1 ) a contract with Imagine ThatImagine That School to provide private music lessons for up to

Payment for services comes from two sources: (1) a contract with
Imagine ThatImagineThat
School to provide private music lessons for up to
150150
band students a year(where a year is 9 months of education) for a fixed fee of
$ 154 comma 500$154,500,
and(2) payment from individuals at a rate of
$ 115$115
per month for 9 months of education each year. In the
20122012-20132013
school year,
CIMCIM
made a profit of
$ 6 comma 000$6,000
on revenues of
$ 281 comma 000$281,000:

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