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Preparing personal balance sheet. Use Worksheet 2.1. Katie Wright's banker has asked her to submit a personal balance sheet as of June 30, 2020, in support of an application for a $6,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets and liabilities as of June 30, 2020: Asset/Liability Sub-total Cash on hand $70 Balance in checking account 180 Balance in money market deposit account with 650 900 Central Savings Bills outstanding: Telephone $20 Telephone $20 Electricity 70 Charge account balance 190 Visa 180 MasterCard 220 Taxes 400 Insurance 220 $1,300 Condo and property 68,000 Condo mortgage loan 52,000 Automobile: 2016 Honda Civic 14,400 Installment loan balances: Auto loans 3,000 500 3,500 Furniture loan Personal property: Furniture 1,050 900 1,950 Clothing Investments: U.S. government savings bonds 500 Apple stock 3.000 3,500 From the data given prepare Katie Wright's balance sheet, dated June 30, 2020 (follow the balance sheet form shown in Worksheet 2.1). Then evaluate her balance sheet relative to the following factors: (a) solvency, (b) liqui and (c) equity in her dominant asset. Liquid Arts Cashen hand In checking Sarving Money market funds and deposit Certificate of deposit Total Liquid Ant Current Liabilities Utilities Kent I permum TAN Repair balls Bank credit card balances Dept store credit card Malances Travel and triestede Investment Gas and other credit can be Bank Line of credit balances Chercurbilities Total Current Liabilities Cenifof deposit Mulane Real Retirement funds, IRA Other Totallever Real Property Primary residence srced here other Total Investment Long-Term Lisbilities Primary dance me Secondage Real estate investment Auten Apreures Home improvement on Single-payment fans duration less Margin parche Securities Other long-term loans from parte Total Long Term Liabilities cm Total Liabilities Pal Property AS A Reciales House furnishing Jewelry and artwork Ocher Net Worth H Total Liabilities and Net Worth . Total Persal Property 1) Total Aw

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