Refer to the box titled, The Balance Sheet of an 'Average' American Household when answering parts a

Question:

Refer to the box titled, "The of an 'Average' American Household" when answering parts a and b.
a. Based on this evidence, has the financial position of the average household improved during this period of time? Explain your answer.
b. What do you think the average household looks like today? Explain your answer.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...