Part 2 - Start with the same Balance Sheet and required reserve ratio found in Part 1 above, and using the fact that the Federal Reserve had just sold $10 million worth of Treasury Bonds (T-bonds) to the Bank of Upland at the end of business on October 1, 2007 (no other transaction occurred at the Bank of Upland on October 1, 2007), answer the following questions.

a). Fill in the Bank of Uplands Balance Sheet numbers as of the start of business on October 2, 2007 for the categories found below. Start with the numbers in Part 1 above and incorporate the fact that the Federal Reserve (using Open Market Operations) had just sold $10 million worth of Treasury Bonds (T-bonds) to the Bank of Upland. Using a Word Table might help.

Bank of Upland
Assets $50 Million Vault Cash	Liabilities $400 Million Demand Deposits
$120 Million Treasury Bonds
$55 Million Car Loans
$10 Million Business Loans
$30 Million Credit Card Loans
$100 Million On Deposit at the Fed
$35 Million in Mortgages

b). Calculate the Bank of Uplands Total Reserves as of October 2, 2007 (please show/explain how you got your answer).