Question $(2)$

Directions: Click the Case Link above and use the information provided in the Melissa Carter case to answer this question:

Assuming that all short$-$term notes and credit card debt will be paid in the next $12$ months, what is the approximate amount of Melissa Carter's total current liabilities and annualized monthly debt payments, NOT including the mortgage on the land and building leased to Carter Distributors, Inc.?

$$45,000$

$$84,000$

$$98,000$

$$269,000$

ASSETSCash on hand and in banks $($Sch$.1)$Govenment securities $($guaranteed$)$Listed secunities $($Sch$.2)$Unlisted securities $($Sch$.3)$Accounts and notes receivable $($Sch$\mathrm{.}4)$TOTAL LIQUID AsSETSResidential real estate $($Sch$.5)$Non$-$residential real estate $($Sch$.6)$Cash value of Ife insuranceAutomobiles $($Sch$.7)$Household furnishings & personal propertyOther assets $($Sch$.8$&$9)$Retirement accounts $(401($k$),$ Keogh, IRA, etc.$)$TOTAL ASSETSANNUAL INCOMESalaryInterestDividendsResidential real estate income $($Sch$.5)$Non$-$residential real estate income $($Sch$.6)$Other business income $($Sch$,3$ and $8)$Other recurring income $($Sch$.9)$Non$-$recurring or variable incomeCommissions and bonusesOther: apital gains, net of lossesOther:TOTALPERSONAL INFORMATIONBusiness or occupation:Owner & President, Carter Distributors, Inc.Partner or officer in other venture$($s$)($Ust$)$:Catteine Connetions, IncNarme$($s$)$ and age$($s$)$ of dependentsKatie $(11),$ Clif$(6)$CONTINGENT LIABILITIESAs endorser, co$-$maker, or guarantor?Pending legal claims against you?Borrowers signatureComplete all blanks; enter $0,$ no$,$ or none if appropriate$\mathrm{.}65,000750,0003,600,00018,0004,433,000$No$505,0001,350,00024,000100,$D$00200,0006612000400000125029,200120,00033500073,000955,450$Enter Yes or NoLIABILITIES & NET WORTHShort$-$term and demand notes payable to banks andothers $($Sch$.10)$Margin debt $($Sch$,11)$Unpaid taxes and interest due this yearOther current liabilities $($list below$)$Residential real estate mortgages $($Sch$.5)$Non$-$residential real estate mortgages $($Sch$.6)$Auto loans $($Sch$.7)$Other loans and obligations $($Sch$.12)$Credit cards $($Sch$.13)$Other $($list$)$TOTAL LIABILITIESNET WORTHANNUAL EXPENSESMortgage payments, residential RE $($Sch$.5)$Mortgage payments, non$-$residential RE $($Sch$.6)$Taxes: Income, real estate, etc.Other loan & credit card payments $($Sch$.7,10,12,13)$SRequired partnership contributionsInsurance premiumsLving expenses, etcAlimony, child support, separate maintenanceCharitable contributionsOther contractual obligations $($tuition$,,$ etc.$)$Other $($attach list$)$TOTALGENERAL INFORMATIONAre any assets pledged? List.Homes, commercial real estate, auto, jewelryAre you defendant in any suits or legal action?Have you ever made a composition settlement?Have you taken bankruptcy? If yes, when?Are any assets held in trust?SCircumstances and potential liabilityGuarantor for various loans to Carter Distributors, Inc.SSYesNoNoNo$40,000172130$Yes$860,6558,2005\mathrm{.}0001083,9855,326,01531,476170,75252\mathrm{.}590366,000566,018$Enter Yes or No$5,20030,00010\mathrm{.}000$