Answer:
Assets: $231,775
Liabilities: $180,275
Net worth: $51,500
Step-by-step explanation:
- Assest is something of value. ex. house, barns, tractors. To find this take...
215,000+12,500+1,875+2,400=$231,775
(All these numbers are good things he has, not debt.)
- Liability is debt you will need to repay. ex. loans or accounts payable. To find this take...
175,000+4,000+1,275=$180,275
- Net worth is the difference between your total assests and total liabilities. Knowing difference is subtraction, we should subtract assests minus liablities. To find this take...
$231,775-$180,275=$51,500
- Hope this helps! If you have any further questions or other problems you need help on please let me know as I would be glad to help.
