Wavy Company had a beginning work in process inventory balance of $ 32 comma 100. During the year, $ 54 comma 500 of direct materials was placed into production. Direct labor was $ 63 comma 400, and indirect labor was $ 19 comma 900. Manufacturing overhead is allocated at 125% of direct labor costs. Actual manufacturing overhead was $ 87 comma 500, and jobs costing $ 225 comma 600 were completed during the year. What is the ending work in process inventory balance?

Variable rate cd’s = $90 treasury bills = $150 discount loans = $20 treasury notes = $100 fixed rate cds = $160 money market deposit accts. = $140 savings deposits = $90 fed funds borrowing = $40 variable rate mortgage loans $140 demand deposits = $40 primary reserves = $50 fixed rate loans = $210 fed funds lending = $50 equity capital = $120 a. develop a balance sheet from the above data. be sure to divide your balance sheet into rate-sensitive assets and liabilities as we did in class and in the examples. b. perform a standard gap analysis and a duration analysis using the above data if you have a 1.15% decrease in interest rates and an average duration of assets of 5.4 years and an average duration of liabilities of 3.8 years. c. indicate if this bank will remain solvent after the valuation changes. if so, indicate the new level of equity capital after the valuation changes. if not, indicate the amount of the shortage in equity capital.