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Table 1 shows the financial position of the Smithville Bank once $3267.00 has been deposited....

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Accounting

Table 1 shows the financial position of the Smithville Bank once $3267.00 has been deposited. Assume that the required reserve ratio is 6.00%. The bank manager decides to lend Billy Bob Smith all of the bank's excess reserves. Billy Bob takes the funds to Eula Mae's Used Machines and buys a pickup truck. Eula Mae then deposits the money in her account back at the Smithville Bank. Table 2 should show the bank's accounts after the loan is made and the funds again deposited. Round all answers to the nearest cent. What are the bank's loans in Table 2 ? What are the bank's reserves in Table 2 ? Table 1. Original Assets and Liabilities Assets Liabilities reserves: $3267.00 deposits

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