You are a manufacturer who uses Commodity X as an input in your manufacturing process. In order to hedge your risk for the next month, you go long (buy) one futures contract of Commodity X for March 2020 with a price of $1,000. Each futures contract controls 100 units of Commodity X. Initial margin is $10,000 and maintenance margin is $8,000. On the first trading day after the hedge is put on, the futures price settles at 991 and the daily gain/loss, cumulative gain/loss, margin account balance and required margin call (if any) are as reflected below in the table.

Day	Trade Price ($)	Settlement Price ($)	Daily Gain/Loss ($)	Cumul. Gain/Loss ($)	Margin Account Balance ($)	Margin Call ($)
0	1,000.00	1,000.00	n/a	n/a	10,000	n/a
1	1,000.00	991.00	-900	-900	9,100	$0
2	1,000.00	971.00	?	?	?	?

Based on the settlement price for the second trading day of 971, calculate the (i) daily gain/loss, (ii) cumulative gain/loss, (iii) margin account balance and (iv) margin call (if any).

You are manufacturer who was commin your hour contract of Commodity Motovt.co. futures contract contre toutes et commodity 10.000 de leite estrate the home for protestante de man ant balance and corrected with Day Trade Prices Settlement Price Daily Gairloss Cumul Gain/Loss Margir Account Balance (5) Margin CS) 1.000.00 w we 1.000.00 0000 1 1 TO w the price for contra RO x x B 8 You are manufacturer who was commin your hour contract of Commodity Motovt.co. futures contract contre toutes et commodity 10.000 de leite estrate the home for protestante de man ant balance and corrected with Day Trade Prices Settlement Price Daily Gairloss Cumul Gain/Loss Margir Account Balance (5) Margin CS) 1.000.00 w we 1.000.00 0000 1 1 TO w the price for contra RO x x B 8