The question is below, please help me! Thank you!

Please view the following bank balance sheet and then answer the questions that follow The Bank of Candyland Liabilities Assets Required reserves $60,000 Demand Deposits $600,000 Excess reserves $100,000 Loans $240,,000 Bonds $200,000 Buildings and Fixtures $10,000 Owner's Equity $10,000 1. Calculate the Required Reserve Ratio for this country (remember you must show your work) 2. If Omar wants to take out a loan from the Bank of Candyland, what is the maximum amount the bank can currently lend him without selling any of its bonds? In other words, what money do they have available to lend Omar right now? 3. Based on the balance sheet above, what is the maximum amount that the banking system can create? (you will need to use the multiplier to determine this answer) If Michael withdraws $50,000 from the demand deposits of the bank of Candyland, how much will be left in demand deposits, required reserves and excess reserves? 5. Explain the immediate effect of Michael's withdrawal on the M1 measure of the money supply