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Balance Sheet Assets Liabilities Cash equivalents 8,000 Deposits 100,000 Mortgage loans 100,000 Shareholders' equity 8,000 Total assets 108,000 Total liabilities and equity 108,000 Income Statement
Balance Sheet Assets Liabilities Cash equivalents 8,000 Deposits 100,000 Mortgage loans 100,000 Shareholders' equity 8,000 Total assets 108,000 Total liabilities and equity 108,000 Income Statement Interest income 5,000 Interest expense 1,000 Net interest income 4,000 Non interest income 0 Operating expense 3,000 Pre-tax operating profit 1,000 Taxes 330 Net income 670 1) Suppose the cash equivalents earn 0% interest.
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Accounting concepts and applications
Authors: Albrecht Stice, Stice Swain
11th Edition
978-0538750196, 538745487, 538750197, 978-0538745482
