Need to find :a) Net Interest Incomeb) Profit Before TaxesPlease help me with proper steps Amount Annual Liabilities (OMR inReturn millions)Amount AnnualAssets (OMR inmillions)CostCash450%Short term deposits1202%Government Bonds1801.25%Medium term2652.25%depositsLong term depositsLoans to local2203.5%3852.75%governmentLoans to SMIESLoans to corporatesShort term financingLong term bonds2455%2753%5856.25%1504.5%Totals1,275Fee income for the year ended 31st December 2020 is OMR 6.25 million.Total overhead expenses for the year ended 31st December 2020 is OMR 23.5million.3.

Net interest income seems to be a financial result metric that represents the gap between the…

Answered: Need to find : a) Net Interest Income…

Business

Accounting

Need to find : a) Net Interest Income b) Profit Before Taxes Please help me with proper steps

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Filing Federal Income Tax Return

A tax is the amount of money paid to the government on the revenue earned by the individual or business organization. It acts as an income for the government and an expense for the individual or business organization. There are different regulations regarding filing an income tax return in other countries.

Question

Need to find :

a) Net Interest Income

b) Profit Before Taxes

Please help me with proper steps

Amount Annual Liabilities (OMR in
Return millions)
Amount Annual
Assets (OMR in
millions)
Cost
Cash
45
0%
Short term deposits
120
2%
Government Bonds
180
1.25%
Medium term
265
2.25%
deposits
Long term deposits
Loans to local
220
3.5%
385
2.75%
government
Loans to SMIES
Loans to corporates
Short term financing
Long term bonds
245
5%
275
3%
585
6.25%
150
4.5%
Totals
1,275
Fee income for the year ended 31st December 2020 is OMR 6.25 million.
Total overhead expenses for the year ended 31st December 2020 is OMR 23.5
million.
3.

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