9 Smallville Bank has the following balance sheet, rates earned on its assets, and rates paid on its liabilities. Balance Sheet (in thousands) Assets Rate Earned (3) Cash and due from banks $ 7,600 0 Investment securities 38,000 Repurchase agreements 28,000 6 Loans less allowance for losses 96,000 10 Fixed assets 26,000 0 Other earning assets 4,000 Total assets $199,600 Liabilities and Equity Rate Paid (6) Demand deposits $ 14,000 NOW accounts 85,000 Retail CDs 34,000 Subordinated debentures 30,000 Total liabilities 163,000 Common stock 19,000 Paid-in capital surplus 4,600 Retained earnings 13,000 Total liabilities and equity $199,600 0 5 7 8 If the bank earns $136,000 in noninterest income, incurs $96,000 in noninterest expenses, and pays $2,660,000 in taxes, what is its net income? (Enter your answer in dollars, not thousands of dollars.) Net income