In 2020, the country of Neverland has a current account deficit of $1.1 billion and a nonreserve financial account surplus of $500 million. Neverland's capi- tal account is in a $ 150 million deficit. In addition, Neverland factors located in foreign countries earn $ 300 million. Neverland has a trade deficit of $ 250 million. Assume Neverland neither gives nor receives unilateral transfers and its GDP is $7 billion. 1. What happened to Neverland's net foreign assets during 2020? Did it acquire or lose foreign assets during the year? 2. Compute the official settlement balance. 3. How much income did foreign factors of production earn in Neverland in 2020? 4. Show that BOP=0