$\text { Assets }\quad\quad\quad\quad\quad\quad\quad \text { Liabilities }$ -The Above Table Gives the Initial Balance Sheet for Mini

Multiple Choice

$\text { Assets }\quad\quad\quad\quad\quad\quad\quad \text { Liabilities }$
$\begin{array}{|lc|lc|}\hline \text { Reserves } & \$ 100 &\text { Deposits }&\$400\\\text { Loans } & 600 &\text { Net worth }&\$300\\\text { Total assets } & \$ 700&\text { Total assets }&\$700 \\\hline\end{array}$
-The above table gives the initial balance sheet for Mini Bank. If the bank?s desired reserve ratio is 10 percent, how much does this bank have in excess reserves?

A) $100
B) $40
C) $60
D) $10