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Balance Sheet (in $million) - Menzies Bank Assets Liabilities and Equity Cash 450 Demand deposits 5,510 Receivables from other FIs 1,350 Small time deposits 10,800
Balance Sheet (in $million) - Menzies Bank Assets Liabilities and Equity Cash 450 Demand deposits 5,510 Receivables from other FIs 1,350 Small time deposits 10,800 Investments 4,050 Jumbo CDs 3,200 Federal funds sold 2,025 Federal funds purchased 2,250 Loans 15,525 Equity 2,200 Reserve for loan losses (1,125) Premises 1,685 Total assets 23,960 Total liabilities and equity 23,960 Income Statement (in $million) - Menzies Bank Interest income 2,600 Interest expense (1,650) Provision for loan losses (180) Noninterest income 140 Noninterest expense (420) Taxes (90) Calculate the bank's Return on Assets. (NOTE: By default, the unit of the answer is %. The answer must be input with two 2 decimal places, i.e. if the answer is 12%, please input 12.00)
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