What is the overhead efficiency. Please show work.

Solve the Overhead Efficency Ratio.

1. lax ratio 11. Dudley Bank h Dudley Bank has the following balance sheet and income statement. (LG 12-5) Balance Sheet (in millions) Assets Liabilities and Equity Cash and due Demand from banks $ 7,500 deposits $ 15,500 Repurchase agreements 13,000 NOW accounts 35,625 Other investment securities 34,050 Retail CDs 57.000 Loans 70,500 Debentures 14,250 Fixed assets 9,250 Total liabilities $122,375 Other assets 3,200 Common stock 5,000 Total assets $137,500 Paid-in capital 4,000 Retained earnings 6,125 Total liabilities and equity $137,500 Income Statement Interest on fees and loans Interest on repurchase agreements Interest on other investment securities Interest on deposits in banks Total interest income Interest on deposits Interest on debentures Total interest expense $6,715 143 1,705 60 $8,623 3,018 1,140 $4,158 Part 3 Commercial Banks 404 Net interest income Provision for loan losses Noninterest income Noninterest expenses Income before taxes Taxes Net income $4,465 200 950 1,720 $3,495 1,220 $2,275 For Dudley Bank, calculate: j. Overhead efficiency