You just short sold $400$ shares of ABD stock for $$12,000.$ The sale was a short sale with an initial margin requirement of $70\%.$ The maintenance margin is $40\%.$

$8$ months later, Some positive news concerning the company was released and the stock price jumped this morning to $$38$ per share.

QUESTION #$3.$ Construct the balance sheet for the trade when the stock price is $$38$ per share: