.Queens Bank,which opened in year2008, had the following activities during the year.

a.The founder of the bankraised $4500by selling shares of the bank in the primary market

b.Queens Bank obtained another $6000 by selling stocks in the secondary market.

c.Queens Bank was able to attract $12,000 demand deposits.

d.Queens Bank was able to attract $20,000 saving deposits which cost the bank 2.5% per year.

e.To raise more funds,Queens Bank sold1-year CDswith the amount of $35,000at interest rate 5.5% per year.

f.By holding all the capital and deposits that mentioned above,Queens Bank kept10% of the deposits as reserves, spend 30% on purchasing 1-yearTreasury bills, which would pay 4.5% interest at the end of the year, andlendthe rest 60%funds to Jacks Inc at interest rate 12%.

g.One day during the yearQueensBank met a minor liquidity crisis due to a large withdrawalas the housing bubble collapsed.Queens Bankhad toborrow overnightfunds fromKings Bank for $5,000 at 0.5% overnight rate. During the day,Queens Bankkept the $5,000fundsas vault cash.

h.QueensBank sold a standby letter of credit toJacks Inc.and earned $500from this activity.

i.At the end of the year, Queens Bank paid $1700 salaries to the staff.

Write out an income statement for Queens Bank for year 2008, including the items of interest income, non-interest income, interest expenses, non-interest expenses and profits. Also, calculate the ROA and ROE of Queens Bank for year 2008. (