(Solution) - Lisogar Philip Walters LPW is a regional accounting firm -(2025 Original AI-Free Solution)

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Lisogar, Philip & Walters (LPW) is a regional accounting firm with four offices. Summary data from the partnership's annual report follow:

Required
1. What percentages of total revenues did LPW earn by performing assurance services (similar to audit), consulting services, and tax services during 2010? What were the percentages in 2014? Which type of service grew the most from 2010 to 2014?
2. Compute the average revenue per partner in 2014. Assume each partner works 1,900 hours per year. On average, how much does each partner charge a client for one hour of time?
3. How much net income did each LPW partner earn, on average, in 2014?