The balance sheet for the newly formed ACME Bank is shown below. Reserves listed on the balance sheet are reserves on deposit at the Federal Reserve. Cash is vault cash held in the bank. Instructions: Enter your answers as a whole number. a. Fill in the missing value in the balance sheet. Answer is complete but not entirely correct. ACME Bank Balance Sheet Assets Liabilities and net worth Cash 8,000 Checkable deposits $ 138,000 Reserves 140,000 Stock shares 305,000 Property $ 299,000 S b. If the reserve requirement is 12 percent, how much in excess reserves is the bank holding? $ 129440 10 Reserve Requirement 2.61 points 3% Type of Deposit Checkable Deposits $7.8 48.3 Million Over $48.3 Million Noncheckable personal savings and time deposits 10 eBook Refer to the accompanying table. If a bank has $40 million in savings deposits and $52 million in checkable deposits, then its required reserves are References Multiple Choice $5.2 million $20 million $4 million. $9.2 million