Redo the example of Gorgonzola in the text (see Tables 17.2 to 17.6), assuming that (1) initially, the Gorgonzolan central bank puts 5,000,000 guilders into circulation, and (2) commercial banks desire to hold reserves of 20 percent of deposits. As in the text, assume that the public holds no currency. Show the consolidated balance sheets of Gorgonzolan commercial banks for each of the following instances. (LO2)

a. After the initial deposits (compare to Table 17.2).

b. After one round of loans (compare to Table 17.3).

c. After the first redeposit of guilders (compare to Table 17.4).

d. After two rounds of loans and redeposits (Table 17.5).

e. What are the final values of bank reserves, loans, deposits, and the money supply?