Balance sheet Name : Assets Question 2: a. Solvency Ratio = = 27.94% 85 485 Date : Liabilities Current Liabilities Utilities Rent Insurance Premiums Auto Insurance Premium Fedral & Property Tax Total Net Worth Total Assets Liquid Assets Cash On Hand In checking Saving Account Money Market Funds &Deposits Certificate of deposits (1year to Maturity) Mutual Funds This ratio indicated that Gordons are performing well with their income. Saving is 28% 2,000 5,000 2,800 1,990 680 640 d. Debt Service ratio = Monthly loan payments Monthly Gross Income $1,282 =15.38% $8.333 Real Estate Retirement Fund IRA Other Total investment Real Property Primery Residence Second Home Other 4,000 185,000 66,627 Travel & Entertainment Card Balance Trip To Europe Transportation Gas & Other Credit Card Balance Cable Television Telephone 15,000 Bank Line of Credit Balance Recreation & Entertainment Total Current Liabilities Long Term Liabilities Primary Residence Mortgage Real Estate Investment 185,000 Mortgage Auto Loans Appliences/Furniture Loans Home Improvement Loans Single Payments Loan Education Loans Margin Loans Other Long Term Loans The company has sufficient income to cover the loan payment, the debts are secured 148,000 1,400 4,650 The growth of new worth should be continued because the income is sufficient to build better balance sheet in the future. Total Real Property Personal Property Auto(s): Auto(s): Residential Vechicles Household Furnishing Jewelry & Art Work Other Other:-Social security Contribution Total Personal Property 10,500 4,500 9,027 Total Long-term Liabilities 24,027 (W) Total Liabilities Net Worth [(1)-(11)] 227,597 Total Liabilities & Net Worth 154,050 220,677 6920 227,597 (0) Total assets Balance sheet Name : Assets Question 2: a. Solvency Ratio = = 27.94% 85 485 Date : Liabilities Current Liabilities Utilities Rent Insurance Premiums Auto Insurance Premium Fedral & Property Tax Total Net Worth Total Assets Liquid Assets Cash On Hand In checking Saving Account Money Market Funds &Deposits Certificate of deposits (1year to Maturity) Mutual Funds This ratio indicated that Gordons are performing well with their income. Saving is 28% 2,000 5,000 2,800 1,990 680 640 d. Debt Service ratio = Monthly loan payments Monthly Gross Income $1,282 =15.38% $8.333 Real Estate Retirement Fund IRA Other Total investment Real Property Primery Residence Second Home Other 4,000 185,000 66,627 Travel & Entertainment Card Balance Trip To Europe Transportation Gas & Other Credit Card Balance Cable Television Telephone 15,000 Bank Line of Credit Balance Recreation & Entertainment Total Current Liabilities Long Term Liabilities Primary Residence Mortgage Real Estate Investment 185,000 Mortgage Auto Loans Appliences/Furniture Loans Home Improvement Loans Single Payments Loan Education Loans Margin Loans Other Long Term Loans The company has sufficient income to cover the loan payment, the debts are secured 148,000 1,400 4,650 The growth of new worth should be continued because the income is sufficient to build better balance sheet in the future. Total Real Property Personal Property Auto(s): Auto(s): Residential Vechicles Household Furnishing Jewelry & Art Work Other Other:-Social security Contribution Total Personal Property 10,500 4,500 9,027 Total Long-term Liabilities 24,027 (W) Total Liabilities Net Worth [(1)-(11)] 227,597 Total Liabilities & Net Worth 154,050 220,677 6920 227,597 (0) Total assets