26. On May 1, Ivy Olson sold short 100 shares of Minnetonka Minerals stock at $25 per share and bought on margin 200 shares ofSt. Louis Park Company stock for

$40 per share. The initial margin requirement was50%. On June 30, Minnetonka stock sold for $36 per share and St. Louis Park stock sold for $45 per share.

a. Prepare a balance sheet showing the aggregate financial position on Ivy's margin account as ofJune 30.

b. Determine whether Ivy's account is restricted as ofJune 30.