3. [24 points] Suppose the Commercial Banking System has 4 identical banks. The initial balance sheets of each of the commercial banks can be found by dividing the entries in the consolidated banking system presented at the start of the question 2 by 4 . Using the example of the creation of deposit money presented on pages 658662 of the Ragan/MyEconLab text as a guide, trace through the multi-stage changes to the commercial bank balance sheets following a purchase of $50 of Government of Canada bonds from the Commercial Bank A by the Bank of Canada. The Bank of Canada pays for the bonds by increasing Bank A's deposits at the Bank of Canada. Assume the four banks are Bank A, Bank B, Bank C, and Bank D and that Bank B receives the deposit in round 2; Bank C receives the deposit at round 3, Bank D receives the deposit at round 4. There is no cash drain to the public. Follow the balance sheet changes through four rounds by creating versions of Table 26-3, 26-5, 26-6 (for each of Bank B, Bank C, and Bank D), and Table 26-7 (for four rounds). Initial Balance Sheet For Each Bank Before Bonds Sale 6/8 ON1011 PROBLEM SET 6 WINTER 2023 (a) [A points] Round 1; Fill in the balance sheet of Bank A following the sale of bonds and the issuing of new loans (like Table 26-5)