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. Assets Cash Reserves Property S $ 98,000 Answer is complete but not entirely correct. ACME Bank Balance Sheet 5,000 98,000 98,000 Liabilities and net worth Checkable deposits Stock shares $ 98,000 220,000 b. If the reserve requirement is 10 percent, how much in excess reserves is the bank holding?

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