The following data (in thousands of dollars) have been taken from the accounting records of rayburn corporation for the current year. sales $1,980 selling expenses 280 factory overhead 460 direct labor 400 administrative expenses 300 purchases of direct materials 240 finished goods inventory, beginning 240 finished goods inventory, ending 320 materials inventory, beginning 80 materials inventory, ending 140 work in process inventory, beginning 140 work in process inventory, ending 100 required: enter all amounts in thousands of dollars. a. what was the cost of the direct materials used in production during the year? $ thousand b. what was the cost of goods manufactured for the year? $ thousand c. what was the cost of goods sold for the year? $ thousand d. what was the net income for the year? $ thousand

Variable rate cd’s = $90 treasury bills = $150 discount loans = $20 treasury notes = $100 fixed rate cds = $160 money market deposit accts. = $140 savings deposits = $90 fed funds borrowing = $40 variable rate mortgage loans $140 demand deposits = $40 primary reserves = $50 fixed rate loans = $210 fed funds lending = $50 equity capital = $120 a. develop a balance sheet from the above data. be sure to divide your balance sheet into rate-sensitive assets and liabilities as we did in class and in the examples. b. perform a standard gap analysis and a duration analysis using the above data if you have a 1.15% decrease in interest rates and an average duration of assets of 5.4 years and an average duration of liabilities of 3.8 years. c. indicate if this bank will remain solvent after the valuation changes. if so, indicate the new level of equity capital after the valuation changes. if not, indicate the amount of the shortage in equity capital.