Problem 12-02 (algo) Consider a bank with the following balance sheet. You read in the local newspaper that the bank's return on assets (ROA) was 3 percent. What were the bank's after-tax profits? Reserves Loans Securities Assets Bank Balance Sheet (in thousands) $100 $500 $500 The bank's after-tax profits: $ Liabilities and Capital Deposits Borrowing Bank Capital thousands $1,000 $0 $100

Consider a bank with the following balance sheet You read in the local newspaper that the bank's return on assets (ROA) was 3 percent What were the bank's after-tax profits? The bank's after-tax profits: $ thousands