First International Bank $($FIB$)$ is examining the profitability of its Premier Account, a combined savings and checking account. $($Click the icon to view account information.$)$

FIB recently conducted an activity$-$based costing study of its services. It assessed the following costs for six individual services. $($Click the icon to view the costs for the services and customer information.$)$

Assume Harvin and Flynn always maintain a balance above $$1,000,$ whereas Wheeler always has a balance below $$1,000.$

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Depositors receive a $2\%$ annual interest rate on their average deposit. FIB earns an interest rate spread of $3\%($the difference between the rate at which it lends money and the rate it pays depositors$)$ by lending money for home$-$loan purposes at $5\%.$ Thus, FIB would gain $$60$ on the interest spread if a depositor had an average Premier Account balance of $$2,000$ in $)=($$$60.$

The Premier Account allows depositors unlimited use of services such as deposits, withdrawals, checking accounts, and foreign currency drafts. Depositors with Premier Account balances of $$1,000$ or more receive unlimited free use of services. Depositors with minimum balances of less than $$1,000$ pay a $$22-$a$-$month service fee for their Premier Account.

Requirement $1.$ Compute the $2020$ profitability of the Harvin, Wheeler, and Flynn Premier Accounts at FIB. $($For amounts with a parentheses or a minus sign for operating losses.$)$

Harvin

Wheeler

Flynn

Total

Revenues

Spread revenues on annual basis

Monthly fee charges

Total revenues

Costs

Deposit$/$withdrawal with teller

Depositwithdrawal with ATM

Deposit$/$withdrawal on prearranged basis

Bank checks written

Foreign currency drafts

Inquiries

Total costs

Operating income $($loss$)$

Data table