How would you calculate their net worth

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Reference no: EM13763245

Fatimah and Ahmad, both 30 years old, own a house worth $120,000 and have a yearly income of $50,000, monetary assets of $15,000, two cars worth $30,000, and furniture worth $10,000. The house has a $100,000 mortgage, they have college loans of $15,000 outstanding, and the cars have outstanding loans of $10,000 each. Bills totaling $2000 for this month have not been paid ($1,000 is to pay off their credit card that they use for bills). They are requesting your help in creating a balance sheet. How would you calculate their net worth? and How are they doing?

Reference no: EM13763245

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