Question
Create a Balance Sheet and Income Statement for a bank. Below are accounts and balances for 2013 year-end of ABC Bank, Inc. Note that the
Create a Balance Sheet and Income Statement for a bank. Below are accounts and balances for 2013 year-end of ABC Bank, Inc. Note that the Retained Earnings account has not yet been adjusted for 2013 net income and dividends so you will have to compute the year-end balance in Retained Earnings for the Balance Sheet.
In $000's | |
---|---|
Cash & due from banks | 21,860 |
Common stock | 9,136 |
Dividends paid [2] | 20,010 |
Employee expenses | 28,804 |
Fed. Funds and reverse repurchases | 137,313 |
Fee income | 23,930 |
Gain from security trading | 3,064 |
Goodwill & other assets | 141,341 |
Gross loans and leases | 846,833 |
Income tax expense | 9,104 |
Interest expense | 5,161 |
Interest income | 48,391 |
Loan loss allowance | 17,060 |
Long-term bonds payable | 127,379 |
Miscellaneous other income | 15,862 |
Other borrowed funds | 57,175 |
Other expense | 21,594 |
Other liabilities | 76,668 |
Preferred stock | 12,883 |
Provision for loan losses | 7,217 |
Retained Earnings [1] | 77,733 |
Securities | 292,681 |
Surplus | 59,802 |
Total deposits | 1,002,835 |
Prepare a formal Income Statement (Report of Income) and Balance Sheet (Report of Condition) for the bank using Excel. You do not need to break down assets or liabilities into subsections. Note that all values are in thousands of dollars. You can skip adding the zeroes if you note the values correctly.
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