Give a clear, brief, answer to each of the following questions. a) Show the new balance sheet levels for the 6 blank categories after the Fed sells $10 in securities to the commercial banking system after reserves adjust to their required level, so excess reserves =0. Assume required reserve ratio is 10%, (i.e., .10), banks hold no excess reserves; and currency in circulation commercial bank securities, and bank capital do not change. Balance Sheet of Commercial Banking Sector: Balance Sheet of the Fed): Assets Reserves Liab. \& Owner's Equity Assets Liabilities and Owner's Equity Bank Loans Checkable Dep. Securities Currency in Circulation_210 Securitics Discount Loans_40 Discount Loans_50 Reserves b) Did the money supply (M1) change? If so, by how much