The following transactions (expressed in U.S. $ billions) take place during a year. Calculate the U.S. merchandise-trade, current-account, capital-account, and financial-account balances.

i) The U.S. exports $300 of goods and receives payment in the form of foreign demand deposits abroad.
ii) The U.S. imports $225 of goods and pays for them by drawing down its foreign demand deposits.
iii) The U.S. pays $15 to foreigners in dividends drawn on U.S. demand deposits here.
iv) American tourists spend $30 overseas using traveler's checks drawn on U.S. banks here.
v) Americans buy foreign stocks with $60, using foreign demand deposits held abroad.
vi) The U.S. government sells $45 in gold for foreign demand deposits abroad.
vii) In a currency support operation, the U.S. government uses its foreign demand deposits to purchase $8 from private foreigners in the United States.