Use the following information to answer the questions below. Let's assume that the capital account is equal to 1,200. Quantify your answers.

Export of goods and services $3000

Primary income received $600

Secondary income received $700

Imports of goods and services $2500

Primary income payments $600

Secondary income payments $250

Net acquisition of financial assets $800

Net incurrence of liabilities -$900

Net change in financial derivatives $80

1 a) Is there a surplus or a deficit in the trade balance? By how much?

b) What is the current account balance?

c) Does the financial account balance equal the current plus capital account balance?