please help step by step i get it wrong everytime

4. Balance sheet - Net worth and interpreting the data

The following is a partial balance sheet for Andy and Kim Garza. Complete the balance sheet by determining their total assets, total current liabilities, long-term liabilities, and net worth.

Balance Sheet

Name(s): Andy and Kim Garza

Date: December 31, 2012

Assets

Liabilities and Net Worth

Liquid Assets

Current Liabilities

Cash

$246.45

Electric

$437.93

Checking

271.10

Water

187.68

Savings

308.06

Insurance premiums

312.81

Total Liquid Assets:

$825.61

Taxes

1,087.50

Mortgage

805.56

Investments

Auto

938.42

Retirement funds, IRA

$1,314.38

MasterCard

813.29

Total Investments:

$1,314.38

Total Current Liabilities:

$

Real Property

Long-Term Liabilities

Primary residence

$156,600.00

Primary residence mortgage

$38,666.88

Total Real Property:

$156,600.00

Total Long-Term Liabilities:

$

Personal Property

Honda Pilot

$11,742.50

Total Personal Property:

$11,742.50

(2) Total Liabilities:

$

(1) Total Assets:

$

Net Worth (1) (2):

$

Total Liabilities and Net Worth:

$

It isnt just the preparation of a balance sheet but the interpretation of the data that can reveal a familys financial condition. Andy and Kim Garza are both age 44. Using data from the 2012 Federal Reserve Bulletin (shown) and the Garzas balance sheet, what conclusions can you draw?

Balance Sheet Name(s) Andy and im Garza Date: December 31, 2012 Assets Liquid Assets Cash 124645 Checking 271.10 Savings 30.06 Total Liquid Asset 1825.61 Liabilities and Net Worth Current Liabilities Electrice Water 17 Insurance premium 312.31 1.00750 More 105.56 Auto MasterCard Total Current Liabilities Long Term Lab Primary 3. Investments trement un, RA $1.31438 Total Investments $1,3143 Real Property Primary rudence 5156.000.00 Total Real Property 315,000.00 Total Long-Term Lalisine | 111. 12.50 Personal Property Honda Rio Total Personal Property 511,122.50 (2) Total Net Worth (1)-(2) (1) Total AN Tuta Les and 8: S: 11 al 13 18 .. - 6 k ! 1 3 6 7 5 0 8 9 2 P U O Q W E R T Y F H J G D L S A