Assignment Exercise 2: Preparing Personal Balance Sheet: Wafas banker has asked her to submit a personal balance sheet as of June 30, 2020, in support of an application for an OMR 8000 home improvement loan. He comes to you for help in preparing it. So far, he has made the following list of his assets and liabilities as of June 30, 2020:

Items	OMR
Cash on hand	200
Balance in checking account	480
Balance in money market deposit account	300
Bills outstanding:
Telephone	150
Electricity	100
Charge account balance	45
Visa	45
MasterCard	450
Taxes	510
Insurance	250
Condo and property	5500
Condo mortgage loan	3700
Automobile: 2019 Honda Civic	9000
Instalment loan balances:
Auto loans	1500
Furniture loan	680
Personal property:
Furniture	9500
Clothing	650
Investments:
U.S. government savings bonds	2000
Stock of Alizz bank	1500

From the data given, prepare Wafas balance sheet, dated June 30, 2020. Comment on his loan application for an OMR 8000 home improvement loan.