Answered step by step
Verified Expert Solution
Question
1 Approved Answer
ASSETS INCOME STATEMENT DATA CASH 336,500 INTEREST INCOME 450,000 FED FUNDS 72,000 NON INTEREST INCOME 227,550 TREASURY SECURITIES 1,498,000 INTEREST EXPENSES 281,000 MUNICIPAL BONDS 248,000
ASSETS | INCOME STATEMENT DATA | |||
CASH | 336,500 | INTEREST INCOME | 450,000 | |
FED FUNDS | 72,000 | NON INTEREST INCOME | 227,550 | |
TREASURY SECURITIES | 1,498,000 | INTEREST EXPENSES | 281,000 | |
MUNICIPAL BONDS | 248,000 | NON INTEREST EXPENSES | 165,000 | |
CORPORATE BONDS | 48,000 | PROVISION FOR LOAN LOSSES | 5,950 | |
GROSS LOANS & LEASES | 4,500,000 | TAX RATE | 19% | |
RESERVE FOR LOAN LOSSES | 12,000 | |||
NET LOANS & LEASES | 4,488,000 | |||
OTHER ASSETS | 31,000 | |||
TOTAL ASSETS | 6,721,500 | |||
LIABILITIES | ||||
DEMAND DEPOSITS | 514,000 | |||
SAVINGS ACCOUNTS | 700,000 | |||
NOW ACCOUNTS | 800,000 | |||
MONEY MARKETS ACC. | 300,000 | |||
CD RETAIL | 2,580,000 | |||
CD WHOLESALE | 1,200,000 | - | ||
REPO'S | 37,000 | |||
OTHER LIABILITIES | 12,500 | |||
TOTAL LIABILITIES | 6,143,500 | |||
TOTAL EQUITY | 578,000 | |||
TOTAL LIABILITIES & EQUITY | 6,721,500 |
CALCULATE TAXES
PRESENT YOUR ANSW ROUNDED TO ZERO DECIMAL PLACES, DON'T USE COMMA SEPARATORS
Answer:
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started