(Answered) P14-1

Given the following information on the revenues and expenses of First National Bank;determine the bank's net income after taxes for the year just concluded;Salaries and employee benefits $80,000 Applicable income taxes $50,000;Interest on deposits $170,000 Occupancy costs $11,000;Interest on loans $320,000 Provision for loan losses $22,000;Income from U.S. Treasury securities $75,000 Miscellaneous expenses $8,000;Extraordinary items, net $0 Interest on municipal securities $86,000;Interest on nondeposit borrowings $30,000 Service charges of deposits $10,000;Net securities gains $0 Miscellaneous operating revenues $13,000;Attachments;makoto Fin 3400 P14-1.xlsx
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P14-1

 


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