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Create a Balance Sheet and Income Statement for a bank Below are accounts and balances for 2013 year end of ABC Bank Inc Note that the Retained Earnings account has not yet been adjusted for

Create a Balance Sheet and Income Statement for a bank. Below are accounts and balances for 2013 year-end of ABC Bank, Inc. Note that the Retained Earnings account has not yet been adjusted for 2013 net income and dividends so you will have to compute the year-end balance in Retained Earnings for the Balance Sheet.

  In $000's
Cash & due from banks 21,860
Common stock 9,136
Dividends paid [2] 20,010
Employee expenses 28,804
Fed. Funds and reverse repurchases 137,313
Fee income        23,930
Gain from security trading 3,064
Goodwill & other assets                141,341
Gross loans and leases 846,833
Income tax expense 9,104
Interest expense 5,161
Interest income                48,391
Loan loss allowance 17,060
Long-term bonds payable 127,379
Miscellaneous other income 15,862
Other borrowed funds 57,175
Other expense 21,594
Other liabilities 76,668
Preferred stock                12,883
Provision for loan losses 7,217
Retained Earnings [1] 77,733
Securities 292,681
Surplus 59,802
Total deposits 1,002,835

Prepare a formal Income Statement (Report of Income) and Balance Sheet (Report of Condition) for the bank using Excel. You do not need to break down assets or liabilities into subsections.   Note that all values are in thousands of dollars. You can skip adding the zeroes if you note the values correctly.

 

May 03 2020 View more View Less

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