The table below is the balance sheet for the Senators Bank. The target reserve ratio is 8%. Assets (1) (2) Liabilities / Equity (1) (2) Reserves $70,000 $ $ Chequing deposits $380,000 $ $ Loans 250,000 Shareholders' equity 70,000 Securities 75,000 Fixed assets 55,000 Total $450,000 Total $450,000 The size of the bank's excess reserves is $ . Change the balance sheet in columns (1) to show the effect of the bank loaning out an amount equal to its excess reserves. Now change the balance sheet in columns (2) to show the effect of a cheque for the amount of the loan in part (b) clearing against the bank. Suppose instead that the target reserve ratio is 18%. What is the bank's reserve situation, and what action will it take? The Senators Bank is over-reserved by $ and will need to lend out in the amount of $