From the following information about Silo Bank for the year ended as on 31st December 2017: prepare an Income Statement of Silo Bank (Amounts’ in 000’ RO)

Total interest income	18,400
Total interest Expenses	9,700
Fee and commission income	7,600
Fee and commission expenses	2,300
Transfer fee	330
Sundry expenses	60
Director fee	770
Rent and Taxes	990
Postage & Telegrams	150
Lockers rent	900
Printing & Stationery	10
Advertisement	70
Legal Charges	90
Interest payable on deposits	700
Retained earnings	1,500
Deferred tax liability	500
Additional information:
I. Impairment for Investments OMR 550
II. Impairment for Credit losses OMR 240
III. Income tax expense OMR 170
IV. Profit on exchange difference due to translation of foreign operations OMR 120
V. Loss on exchange difference arising on translations of foreign operations OMR 90

Answer rating: 100% (QA)

Pncome statement of Silo Bank Amourt In 000 RO Par teulars Amoun... View the full answer