Question: Net Worth Statement (aka Balance Sheet) Assets Liabilities Home Value - $180,000 Mortgage Balance - $113,000 Auto Value - $10,000 Auto Loan Balance - $8,000
Net Worth Statement (aka Balance Sheet)
| Assets | Liabilities |
| Home Value - $180,000 | Mortgage Balance - $113,000 |
| Auto Value - $10,000 | Auto Loan Balance - $8,000 |
| Money Market - $1,000 | Credit Card Balance - $3,400 |
| Checking Balance - $250 | Future Loan Balance - $2,800 |
| Retirement Account - $9,000 | Student Loan Balance - $11,250 |
| TOTAL $200,250 | TOTAL $138,450 |
Cash Flow Statement (aka Income & Expense Statement)
| Income | Other Expenses |
| Paycheck - $2,500 | Utility Payment - $290 |
| Overtime - $400 | Groceries - $210 |
| TOTAL $2,900 | Gas for Auto - $95 |
|
| Monthly Gym Fee - $50 |
| Expenses Debt Payments | Phone - $60 |
| Mortgage Payment - $800 | Eating Out - $150 |
| Auto Loan Payment - $350 | Car Insurance - $110 |
| Credit Card Payment - $70 | Pet Supplies - $40 |
| Furniture Loan Payment - $150 | Cable and Internet - $80 |
| Student Loan Payment - $360 | Entertainment - $80 |
| Debt Payment SUB TOTAL $1,730 | Clothes - $60 |
|
| Charitable Contribution - $10 |
| Other Expenses SUB TOTAL $1,235 | |
| TOTAL Expenses $2,965 |
What is the Net Worth? (Refer to the Net Worth and Cash Flow statements above)
Group of answer choices
$-61,800.
$162,150.
$138,450.
$61,800.
None of these.
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