Arrange the following items into an income statement Label each
Arrange the following items into an income statement. Label each item, place it in the appropriate category, and determine the bank’s bottom- line net income.
a. Interest paid on time deposits under $ 100,000: $ 78,002
b. Interest paid on jumbo CDs: $ 101,000
c. Interest received on U. S. Treasury and agency securities: $ 44,500
d. Fees received on mortgage originations: $ 23,000
e. Dividends paid to stockholders of $ 0.50 per share for 5,000 shares
f. Provisions for loan losses: $ 18,000
g. Interest and fees on loans: $ 189,700
h. Interest paid on interest checking accounts: $ 33,500
i. Interest received on municipal bonds: $ 60,000
j. Employee salaries and benefits: $ 145,000
k. Purchase of a new computer system: $ 50,000
l. Service charge receipts from customer accounts: $ 41,000
m. Occupancy expense for bank building: $ 22,000
n. Taxes of 34 percent of taxable income are paid
o. Trust department income equals: $ 15,000
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help