Assume another speculator did another trade on the same day $($July $2^{nd}).$ Please calculate the margin balance. Show when $($if$)$ margin calls would be necessary and their amount.

$(1)$ The second speculator puts in an order to go short a $5,000-$bushel contract of December corn futures at $$3\mathrm{.}50,$ and the order to go short at $$3\mathrm{.}50$ is filled on July $2^{nd}.$

$(2)$ The second speculator puts in a market order to go long the same December corn futures on July $24,$ and the order is filled at $$3\mathrm{.}95,$

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