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A firm received the following monthly analysis statement from the bank for a 30-day month: Average Positive Ledger Balance $1,025,645 Less: Average Float $205,129 Average

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A firm received the following monthly analysis statement from the bank for a 30-day month: Average Positive Ledger Balance $1,025,645 Less: Average Float $205,129 Average Collected Balance $820,516 Less: 10% Reserve Requirement $82,052 Average Available Balance $738,464 Value of Average Available Balance (0.25%) Total Charges $1,114.08 Net Analysis Position Value of Balances = Avg. Available Balance * [(ecr/365)(n)] Did the firm maintain sufficient balances to cover its service charges? No Yes

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