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The following income statement accounts have been taken from the annual report for a commercial bank. Arrange the accounts in income statement order and determine
The following income statement accounts have been taken from the annual report for a commercial bank. Arrange the accounts in income statement order and determine net income
Provision for loan losses | $ 20,000 | Interest paid on deposits under $ 100,000 | $35,000 |
Salaries and employee benefits | 140,000 | Expenses of premises | 20,000 |
Interest on municipal bonds | 50,000 | Interest received on loans | 180,500 |
Interest paid on jumbo CDs | 75,000 | Income taxes | 15,000 |
Purchase of computers (fixed assets | 5,000 | Interest received on government securities | 40,000 |
Trading revenue | 0 |
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