Here are data for the U.S. balance of payments in a given year. All figures are in billions of dollars. Answer all of the following: a.The balance of trade in goods and services is $____billion. Balance of trade= (1635+709)-(478+2371)= -505 b. The current account balance is $____billion. Current account= (-505+218)= -287. (-287-124)= -411 c.The capital and financial account balance is $____billion. Capital and financial account= (1044-632)=412. (412-1)=411 d. The overall balance of payments balance is $____ billion. Explain why this must be so. balance of payments= -411+411= 0 Here's is the information table:  Foreign purchases of US assets - 632 Goods imports - 2,371 Service imports - 478 Net investment income +218 Service exports +709 Goods exports +1,635 Balance on the capital account -1 Net transfers -124 US purchases of assets abroad +1,044 Can you please check if my answer is correct and explain to me why answer d the overall balance of payments must be so?

1. Here are data for the U.S. balance of payments in a given year. All figures are in billions of dollars. Answer all of the following:

a.The balance of trade in goods and services is $____billion.

Balance of trade= (1635+709)-(478+2371)= -505

b. The current account balance is $____billion.

Current account= (-505+218)= -287. (-287-124)= -411

c.The capital and financial account balance is $____billion.

Capital and financial account= (1044-632)=412. (412-1)=411

d. The overall balance of payments balance is $____ billion. Explain why this must be so.

balance of payments= -411+411= 0

Here's is the information table: 

Foreign purchases of US assets - 632

Goods imports - 2,371

Service imports - 478

Net investment income +218

Service exports +709

Goods exports +1,635

Balance on the capital account -1

Net transfers -124

US purchases of assets abroad +1,044

Can you please check if my answer is correct and explain to me why answer d the overall balance of payments must be so?