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2. How banks work Suppose a group ofinvestors pooled $150,000 and founded Second Republic Bank in Columbus, OH. Second Republic Bank used $$15,000 of this
2. How banks work Suppose a group ofinvestors pooled $150,000 and founded Second Republic Bank in Columbus, OH. Second Republic Bank used $$15,000 of this to purchase shares in the Cleveland Federal Reserve Bank. With the remaining $135,000, the bank manager purchased a building, furniture, and equipment for the bank. Use the preceding information to complete the following table showing Second Republic Bank's balance sheet. Second Republic Bank's Balance Sheet Assets Liabilities and Net Worth M... Now Janet Stein opens a new checking account at Second Republic Bank and makes an initial deposit of $45,000 in currency. Fill in the following Building, furniture, and equipment Stock in Cleveland Fed Total table to show Second Republic Bank's balance sheetjust after Janet's deposit.
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