Question: Please use this information on the following four questions.
You are given the following transactions (in billions):
• Intel (a US company) receives $4 in royalty payments from a Korean firm.
• The US Federal Reserve sells $10 and purchases euros
• US bondholders pay $12 in interest to Japanese investors
• US imports $10 in consumer electronics
• German investors buy $5 in Dell stock
• US exports $8 in lumber
• Indian investors buy $16 in US T-Bills
Assume that these transactions are the only ones that occur during the reporting period. That is, do not worry about the offsetting credit/debit that would usually occur. Using these transactions, answer the following questions. Please enter only the numbers and do not enter a dollar sign. You should signify whether they are surpluses by using a "+' sign and deficits by entering a "-" sign.
1. What is the balance on current account?
2. What is the balance on capital account?
3. What is the balance in the official reserves account?
4. By how much is the statistical discrepancies in surplus or deficit?