1.ABC Financial starts its first day of operations with $11 million in capital. A total of $120 million in checkable deposits are received. The bank makes a $30 million commercial loan and another $40 million in mortgages. Assume that required reserves are 8%. a. What does the bank balance sheet look like? Assets Liabilities b. Calculate the capital ratio based on the table below. Assets Liabilities Required Reserves $10 million Checkable Deposits $120 million Excess Reserves $51 million Bank Capital $ 11 million Loans $70 million