Arrange the following items into an income statement. Label each item, place it in the appropriate category, and determine the banks bottom-line net income.

Interest paid on deposits: $18,000

Interest received on U.S. Treasury and agency securities: $104,500

Provisions for loan losses: $20,000

Interest received on loans: $180,000

Interest received on municipal bonds: $60,000

Employee salaries: $125,000

Occupancy expense for bank building: $20,000

Taxes of 34 percent of taxable income are paid

Trust department income equals: $10,000

Interest Income

Total Interest Income:

Interest Expense

Total Interest Expense:

Net Interest Income:

Non-Interest Income

Total Non-Interest Income:

Non-Interest Expense

Total Non-Interest Expense:

Net Non-Interest Income:

Operating Income:

Tax:

Net Income: