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Mortgage Banks’ main revenues are usually fees for mortgage origination and servicing as well as gains on the sale of mortgages. Although amortization and impairment of Mortgage Service Rights are logically expenses and losses, respectively, mortgage banks often deduct these items directly from mortgage servicing fees as if they are contra-revenues. Prepare an Income Statement of a Mortgage Bank with at least five items of revenue and three items of expenses with imaginary figures.

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