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Balance Sheet Name: Ahmed and Sana Mohamed Date: December 31, 2017 Dollars ASSETS Monetary Assets Cash on hand Savings account 250 Checking account 37,500 Total monetary assets 30,000 $67,750 Tangible Assets Total tangible assets Investment Assets Mutual funds 5,670 13,500 Bonds 10,800 Life insurance cash value 5,400 IRAs 6,750 Total investment assets (1) Total Assets $ IIABILIIIES Short-Term Liabilities Ahmed and Sana Mohamed have been married for over 10 years. They both have good jobs with consistent incornes, and they are good savers. They believe that their financial picture is good, but they have never prepared a balance sheet. Ahmed and Sana pulled together the following items from bank statements, pay stubs, and bills. 1. Auto: 2010 Suburban (cost) 23,000 2. Auto: 2007 Honda Pilot (cost) 20,000 3. Ahmed's salary 45,000 4. Balance due on American Express credit card 1,519 5. Balance due on Master Card 731 6. Batance due on Visa credit card 169 7. Primary home 320,000 8. Sana's diamond earrings 5,000 9. The total balance remaining on their mortgage is 266,667 10. Amount paid last month for a telephone is 500 In addition, the Mohamed's provided the following information: - Based on comparable homes listed for sale in their neiohborhood, the Mohamed's believe that their home value is about 8% more than what they paid for it. - The principal portion of their mortgage payments is approxienately $889 per month. - A reliable jeweler said that Sana's diamond earrings could be sold at the value prowded. - After lookang at Kelley Bue Book, they believe their cars can be sold for about 55% of onginal cost. Ust this informatson to fill in the missing amounts on Ahmed and Sana's balance sheet. You can use what you checked above to make sure you accounted for everything. Note: Some amounts are given to check your work. Round your percent to the one decimal place. Short-Term Liabilities Current portion of mortgage Credit card debt Property taxes 2,400 Auto loan 844 Total short-term liabilities Long-Term Liabilities Long-term portion of mortgage Total long-term liabilities (2) Total Liabilities Net Worth (1) - (2) Total Liabilities and Net Worth $ $ $ $

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