:- CENGAGE | MINDTAP Ch 02: Assignment - Using Financial Statemients and Budgets Balance Sheet Name(s): Steve and Bonnie Foster Date: December 31,2012 Assets Liquid Assets Cash Checking Sowings Total tiquid Assets: 5195.75 215,33 244.69 Investments Mortgage Betirement funds, $1,4$0,00 IA A Auto Total Investments: MasterCard. Real Property Total Current Liabitities: Long-Term Primary residence = s14s. 800000 Liabitities Total Real Property: Primary residenci Personal Property Total Long-Temm Hoada Pilot Total Personal Property: thabilities: (1) Tetat Awets: Liabilities and Net Worth Current Liabilities \begin{tabular}{ll} Electric & $437.93 \\ \hline Water & 187.68 \\ tnsurance premiums & 312.61 \\ Taxes & 1,012.50 \\ Mortgage & 750.00 \\ Auto & 938.42 \\ MasterCard & 813.29 \end{tabular} Total Current Liabilities: Long-Term Labilities Primary telidence =$35,000.00 inerteage Total tong-Term tiabilitins: (2) Tetat Lilotitition: Wet worth (2)(2)= Tokar taataikies and Net warth: Honds pilot $11,495.00 Total Personal $11,495,00 Property= (2) Total tiabilitins: (1) Total Net Worth (1)(2)= Asseets: Total tiabilities and Net Worth: Lased en the corroleted balance theut, the Festers' net worth is It isnt fust the preparation of a bulance shieet but the interperiation of the data that can frveal a fambyis finandat condition. Steve and Bonnie Foster are both age 44, Uulng data from the 2012 federyl Reserve dudetin (chem) and the fosters' balance sheet, nhat condusions can you draw? Assignment-Using Financial Statements and Budgets :- CENGAGE | MINDTAP Ch 02: Assignment - Using Financial Statemients and Budgets Balance Sheet Name(s): Steve and Bonnie Foster Date: December 31,2012 Assets Liquid Assets Cash Checking Sowings Total tiquid Assets: 5195.75 215,33 244.69 Investments Mortgage Betirement funds, $1,4$0,00 IA A Auto Total Investments: MasterCard. Real Property Total Current Liabitities: Long-Term Primary residence = s14s. 800000 Liabitities Total Real Property: Primary residenci Personal Property Total Long-Temm Hoada Pilot Total Personal Property: thabilities: (1) Tetat Awets: Liabilities and Net Worth Current Liabilities \begin{tabular}{ll} Electric & $437.93 \\ \hline Water & 187.68 \\ tnsurance premiums & 312.61 \\ Taxes & 1,012.50 \\ Mortgage & 750.00 \\ Auto & 938.42 \\ MasterCard & 813.29 \end{tabular} Total Current Liabilities: Long-Term Labilities Primary telidence =$35,000.00 inerteage Total tong-Term tiabilitins: (2) Tetat Lilotitition: Wet worth (2)(2)= Tokar taataikies and Net warth: Honds pilot $11,495.00 Total Personal $11,495,00 Property= (2) Total tiabilitins: (1) Total Net Worth (1)(2)= Asseets: Total tiabilities and Net Worth: Lased en the corroleted balance theut, the Festers' net worth is It isnt fust the preparation of a bulance shieet but the interperiation of the data that can frveal a fambyis finandat condition. Steve and Bonnie Foster are both age 44, Uulng data from the 2012 federyl Reserve dudetin (chem) and the fosters' balance sheet, nhat condusions can you draw? Assignment-Using Financial Statements and Budgets