On January 15^th, Wael purchased 5,000 shares of National Cement Co. on margin for $150 per share. On March 15^th the price of National Cement stock declined to $100.The initial margin and maintenance margin requirements were 60% and 40% respectively.

• Prepare Wael balance sheets as in January 15^th and March 15^th.
• What is the type of the accounts on March 5^th?
• Compute share ROE on March 15^th if IR 10%