write (type) your answers to the questions here, then save and submit them as assignments for the corresponding assignment. 1) Use the following balance sheet and cash flow information to determine the net worth and net surplus for an individual in a recent month: Liquid Assets $15,000 Home Value $220,000 Investment assets: $120,000 Personal Property $30,000 Total assets: $385,000 Short Term Debt: $7000 ($250 a month) Monthly Mortgage Payment $1400 on a $180,000 mortgage Total Debt: $187,000 Monthly Gross Income: $11,000 Monthly Disposable Income $ 4000 Monthly Expenses: $7000 Net Worth: Net Surplus: 2) Now that the individual in question 1 has a better understanding of their situation, let's analyze further. Given the balance sheet and cash-flow statement information in question 1, calculate the following ratios see page 96: Liquidity Ratio: Take listed liquid assets/Monthly expenses Asset-to-Debt Ratio: Take Total Assets/Total Debt Debt-to-Income Ratio: Take Annual Debt Payments (Short-Term Debt Monthly Payment *12) + (Monthly Mortgage *12)/Monthly Gross income *12 Debt payments-to-disposable income ratio: Take the short-term debt monthly payment/monthly disposable income Investment assets-to-total assets ratio: Take the listed investment assets/Total assets