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The following are statistics from the annual report of Dover Bank
2007
2006
2005
Average earning assets
$50,000,000
$45,000,000
$43,000,000
Average total assets
58,823,529
54,216,867
52,000,000
Income before securities transactions
530,000
453,000
420,000
Interest margin
2,550,000
2,200,000
2,020,000
Pretax income before securities transactions
562,000
480,500
440,000
Provision for loan losses
190,000
160,000
142,000
Net charge-offs
180,000
162,000
Average equity
4,117,600
3,524,000
3,120,000
Average net loans
32,500,000
26,000,000
22,500,000
Average deposits
52,500,000
42,500,000
37,857,000
Required:
a. Calculate the following for 2007, 2006, and 2005:
1. Earning assets to total assets
2. Interest margin to average earning assets
3. Loan loss coverage ratio
4. Equity to total assets
5. Deposits times capital
6. Loans to deposits
b. Comment on trends found in the ratios computed in (a).
Refer to the situation described in BE 9-6. Estimate ending inventory and cost of goods sold using the conventional method (average cost and the LCM approximation).
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