Make a sample statement of financial position of your family. Again, TOTALASSETS= TOTAL LIABILITIES AND EQUITY...

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Make a sample statement of financial position of your family. Again, TOTALASSETS= TOTAL LIABILITIES AND EQUITY Sample: Assets Al Bear Toe, Inc. Balance Sheet 31 December 2017 Liabilities and Owner's Equity Current Assets: Current Liabilities: Cash and Cash Equivalents P6500 Accounts Payable P350 Accounts Receivable P750 Notes Payable P1 300 Inventories P800 Total Current Liabilities P1 650 Total Current Assets P8 050 Long-term Debt P800 Total Liabilities P2 450 Net Fixed Assets: Owners Equity: Property, Plant and Equipment (Net of Depreciation) P9 600 Common Stocks (500 000 shares) P4 000 Additional Paid-in Capital P3 500 Retained Earnings P7 700 Total Owner's Equity P15 200 TOTAL ASSETS P17 650 TOTAL LIABILITIES AND OWNER'S EQUITY P17 650 What can you conclude after you finished your family's balance sheet? Make a sample statement of financial position of your family. Again, TOTALASSETS= TOTAL LIABILITIES AND EQUITY Sample: Assets Al Bear Toe, Inc. Balance Sheet 31 December 2017 Liabilities and Owner's Equity Current Assets: Current Liabilities: Cash and Cash Equivalents P6500 Accounts Payable P350 Accounts Receivable P750 Notes Payable P1 300 Inventories P800 Total Current Liabilities P1 650 Total Current Assets P8 050 Long-term Debt P800 Total Liabilities P2 450 Net Fixed Assets: Owners Equity: Property, Plant and Equipment (Net of Depreciation) P9 600 Common Stocks (500 000 shares) P4 000 Additional Paid-in Capital P3 500 Retained Earnings P7 700 Total Owner's Equity P15 200 TOTAL ASSETS P17 650 TOTAL LIABILITIES AND OWNER'S EQUITY P17 650 What can you conclude after you finished your family's balance sheet?