Me and a friend are having an argument over this.

How much money does the average band make off of touring? What about CD sales? How much percentage of the money from CD sales does a band get on average? I just need basic facts on the income of a band.

EDIT: I also need the same info about a record label.

I dunno but this might help you a bit (did you already look at this?):
http://www.bls.gov/oco/ocos095.htm#earnings

You might find this useful... It's an article by Steve Albini (who is, incidentally, the man) about major record labels and why they suck. Halfway through you'll find a MASSIVE breakdown on pretty much all the profits and expenditures involved in a tour/new album... It's pretty sobering stuff...
http://www.ram.org/ramblings/philosophy/fmp/albini.html