4. Consider the Cumulated Balance Sheets for the Federal Reserve System and the Commercial Banking System. Show the effect of the following transactions on the balance sheets for the FED and the Commercial Banking System. Use the balance sheet answer tables provided by the instructor, and be sure to write in pencil. Show only the items that change, the amount and direction of the changes, and show the new value for the items that changed. Also, note whether the transaction causes the money supply (M1) to shift left or shift right. Do not cumulate answers. Be sure to give all answers for changes and new entries in billions of US Dollars (\$). T1. The Federal Reserve buys $11 billion in securities from the Public. T2. Commercial Banks ORDER $12 Billion in additional Currency FROM THE FED. T3. Due to an increase in id and iff, Commercial Banks pay off $19 billion in outstanding Loans from Federal Reserve. T4. The Federal Reserve sells $13 billion worth of securities to the Commercial Banking System. \begin{tabular}{|l|l|l|} \hline & \multicolumn{2}{|c|}{ The Federal Reserve } \\ \hline & Assets/ A & Liabilities L \\ \hline T1 & & \\ \hline T2 & & \\ \hline T3 & & \\ \hline T4 & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|} \hline M1 \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular}