a. Corey has a mountain bike worth $300, a credit card debt of $150, $200 in cash, a Harmon Killebrew baseball card worth $400, $1,200 in a checking account, and an electric bill due for $250. Construct Corey's balance sheet and calculate his net worth. For each remaining part, explain how the event affects Corey's assets, liabilities, and wealth.
b. Corey goes to a baseball card convention and finds out that his baseball card is a worthless forgery.
c. Corey uses $150 from his paycheck to pay off his credit card balance. The remainder of his earnings is spent.
d. Corey writes a $150 check on his checking account to pay off his credit card balance.
Of the events in the previous three parts, which, if any, corresponds to saving on Corey's part?