Below is the balance sheet for the Bank of Upland at the start of business on October 1, 2020. The required reserve ratio is 8%. Based on this information, in your own words, answer the questions below. Bank of Upland Assets Liabilities $80 million Vault Cash $500 million Demand Deposits $120 million Treasury Bonds $60 million Car Loans $100 million Business Loans $30 million Credit Card Loans $50 million on Deposit with the Fed $60 million Mortgages $500 million Total Assets $500 million Total Liabilities (a) At the start of October 1, 2020, determine the amount of Bank of Upland's Total Reserves which can legally be loaned out (please show/explain how you got your answer) tb) Calculate the Bank of Upland's Money Creating Potential throughout the entire Banking System at the start of October 1, 2020 (please show/explain how you got your answer) (During October 1, 2020 only one transaction takes place at the Bank of Upland. This one transaction is the Federal Reserve purchases $40 million worth of Treasury Bonds from the Bank of Upland. Based on the Federal Reserve purchasing $40 million worth of Treasury Bonds describe all the changes this purchase will have on this balance sheet for the Bank of Upland. State which assets and/or liabilities will change increase or decrease and state the numeric value of the Increase or decrease. Also state any change in the Total Assets number of $500 million and the Total Liabilities number of $500 million (d) Determine the amount of Bank of Upland's Total Reserves which can legally be loaned out as of October 2, 2020. Please show/explain how you got your answer tel Calculate the Bank of Upland's Money Creating Potential throughout the entire Banking System as of October 2, 2020 (please show/explain how you got your answer). (1) Explain the reason the Federal Reserve would BUY these T-bonds from the Bank of Upland and explain what the Federal Reserve is worried about. (in other words, what economic condition is the Fed trying to avoid and how would the bond purchase help the Fed to avoid this economic condition) Make sure to use your answers to (b) and (e) in your answer here