3. Preparing a Personal Balance Sheet. Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. Rent for the month, $650 Monthly take-home salary, $1,950 Cash in checking account, $450 Savings account balance, $1,890 Spending for food, $345 Balance of educational loan, $2,160 Current value of automobile, $7,800 Telephone bill paid for month, $65 Credit card balance, $235 Loan payment, $80 Auto insurance, $230 Household possessions, $3,400 Home entertainment system, $2,350 Payment for electricity, $90 Lunches/parking at work, $180 Donations, $70 Computers, $1,500 Value of stock investment, $860 Clothing purchase, $110 Restaurant spending, $130 Ad B

Rest for the moenth, $650 Moushly take homesalarg, 51,590 Casb in checking accourh $450 Sminei accoumi balance, $1,890 Spending for food. 53 is Batanee of eduentional loan, 52,160 Current value of astombbile, $7300 Tetephone bill patd for wonth, \$65 Credit cand balance; $205 Loan payzientesto Auto inurance, $230 Houmehold possetciont, 53,400 Home cutertaiament system, $2.340 Payment for electrikity. 590 Iuncha/parking at work, $ Iso Dorsations 570 Computen, $1,500 Value af stock imstiment, $960 Clowing purchase. $110 Heitaurant upending. 5130 3. Preporing a Rinonal Bakance Shect. Use the following iteas to prepare a balance aheet and a cash flow statement. Defermine the fotal assets, total liabilitics, set worth; total cash inflows, and total cash outflows. Rent for the usonth. $650 Monthly take-tiome salary, $1,950 Cash in checkine account $450 Savings account balance, $1,890 Spendine for food, $345 Balance of edusational kas. $2.160 Current value of automobile, $7,500 Telephone bill paid for month, $65 Credit card balance, 3235 Loan paymeat, $10 Auto insurance, $230 Hocsehold possemions, $3,400 Horae entertainment syaten, 52,350 Payment for electncity, $90 Lubches/parking as work, $180 Domations, $70 Corsputers, $1,$00 Value of uock imestment, $860 Clothag purchase, $110 Restaunast ipending. $130