Amount Particulars 18,750 Interest on fixed account Amount 120,000 57,000 Insurance 1,500 Particulars Sundry charges Bills discounted and purchased Interest on overdraft Saving Deposits Cash in hand Money at call and short notice Printing and postage Transfer fees 90,000 30,000 7,500 Fixed deposits Premises Discount on bills 75,000 48,000 5,700 3,150 750 30,000 Equity Share Capital Share premium Commission and exchange Home loans and cash credits Government securities Miscellaneous expenses Salaries paid 31,500 Interest on saving deposits 300 Advertisement 1,500 Borrowings from other banks 375,000 Investment 75,000 Bank Vehicles 28,500 Interest on Cash credit 60,000 Statutory reserve 153,000 Rent and taxes 24,000 Cash at other banks 45,000 Directors fees 150,000 45,000 | 135,000 10,500 15,000 75,000 750 Outstanding commission was $ 4,500; It was decided that the bank will provide 10% depreciation on Bank vehicles. Rebate on bills discounted were $ 3,000. The accountant informed that although the salary expenses are shown as $ 45,000 are shown in the statement but salaries of $ 7,500 are yet to be paid; In anticipation of the debt losses it was decided by the di- rectors of the bank to create a provision for loss of credit is 5% on Investment. Prepare Income statement & balance sheet for the Bank