Question: You were informed the bank's latest income and expense statement contained the following figures (in $ millions)?
Net interest income $800
Net non-interest income -300
Net income before income taxes 484
Increase in bank's undivided profits 100
Suppose you also were told that the bank's total interest income is twice as large as its total interest expense and its noninterest income is three-fourths of its noninterest expense. Imagine that its provision for loan losses equals 1 percent of its total interest income, while its taxes generally amount to 30 percent of its net income before income taxes. Calculate the following items for this bank's income and expense statement:
Total interest income
Total interest expenses
Total non-interest income
Total non-interest expenses
Provision for loan losses
Income taxes
Dividends pais to common stockholders