Initially Alexander Bank kept 10% of desired reserve ratio and no excess reserves. In March, worrying about the liquidity shortage caused by pandemic panic, Alexander Bank sold $50 million of bond holdings to the Bank of Canada in the open market.

a) Use T-account to show the change of Alexander Bank's balance sheet reflecting this bond transaction.

b) Use T-account to show the change of the Bank of Canada's balance sheet reflecting this bond transaction.

c) After a month of lockdown, now most businesses are re-opened. To maximize profit, Alexander Bank starts making loans to its customers. What is the maximum amount of loans it can make? Use T-account to show the change for its balance sheet reflecting this lending alone.

d) Assume all commercial banks have desired reserve ratio 10% and no excess reserves, and the currency-deposit ratio is 0. After the multiple deposit creation process is completed, what is the net change for the balance sheet of the whole commercial banking system? Show the T-account.