CALCULATOR PRINTER VERSION Expand Your Critical Thinking 4-08 BACK Companies prepare balance sheets in order to know their financial position at a specific point in time. This enables them to make a comparison to their position at previous points in time, and gives them a basis for planning for the future. In order to evaluate your financial position, you need to prepare a personal balance sheet. Assume that you have compiled the following information regarding your finances. (Note: Some of the items might not be used in your personal balance sheet.) Amount owed on student loan balance (long-term) 54,800 Balance in checking account 1,200 Certificate of deposit (6-month) 2,900 Annual earnings from part-time job 10,800 Automobile 6,700 Balance on automobile loan (current portion) 1,400 Balance on automobile loan (long-term portion) 3,800 Home computer 300 Amount owed to you by younger brother 300 Balance in money market account Annual tuition Video and stereo equipment 1,200 Balance owed on credit card (current portion) Balance owed on credit card (long-term portion) 1,700 6,100 150 1,600 Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the equity account, use Owner's Equity Balance Sheet Assets Help System Announcements CALCUL Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the equity account, use Owner's Equity Balance Sheet Assets tudy Liabilities and Owner's Equity Liabilities and Owner's Equity Click if you would like to Show Work for this questioni Open Show Work LINK TO TEKE