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Balance sheets: a. Classify each of the following transactions as an asset, a liability for the Federal Reserve, banks, and/or households. i. You get a $10,000 loan from the bank to buy an automobile. ii. You deposit $400 into your checking account at the local bank. iii. A bank borrows $500,000 in overnight loans from another bank. b. Say that the banking sector has the following assets and liabilities: 70 in Treasury bonds; 100 in loans to households; 200 in checkable deposits; and 30 in reserves. (Ignore capital). i. Set up the balance sheet. ii. If the required reserve ratio is 10%, what is the level of required reserves? Does the banking sector hold excess reserves and, if so, how much