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The balance sheet for the newly formed ACME Bank is shown below. The reserves listed on the balance sheet are reserves on deposit at the

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The balance sheet for the newly formed ACME Bank is shown below. The reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. The cash is the vault cash held in the bank. Instructions: Enter your answers as whole numbers. a. Fill in the missing value in the balance sheet. ACME Bank Balance Sheet Assets Liabilities and net worth Cash 140,000 deposits Reserves 144,000 Stock shares $ 286.000 Property 275,000 7,000 Checkable b. If the reserve requirement is 20 percent, how much in excess reserves is the bank holding? SOI

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