Sarah Welch was hired 15 years ago by Produce-R-Us, an importer of rare and exotic fruits. Produce-R-Us was started by an immigrant family 20 years ago and has grown to a national company with sales of $10 million annually. Although the business has grown, the family-owned business strives to maintain a €œfamily atmosphere€ and stresses trust. Because of Sarah€™s honesty and hard work, the manager quickly promoted her, and she now signs checks for amounts under $5,000 and also has responsibilities for Accounts Payable. Now, however, the owners are suspicious of Sarah€™s recent lifestyle changes and have hired you to determine whether Sarah is embezzling from the company. Public records reveal the following:

Perform a net worth calculation using the data above.

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YEAR I YEAR 2 YEAR 3 Assets Personal residence Automobiles Stocks and bonds Boat CDs $100,000 $100,000 $100,000 20,000 40,000 30,000 30,000 25,000 90,000 30,000 30,000 50,000 30,000 25,000 Liabilities Mortgage balance 90,000 40,000 Auto loan 10,000 5,000 Income 37,000 40,000 42,000 Other Expenses: Mortgage payments Auto loan payments Other living expenses 4,000 4,000 4,000 6,000 6,000 6,000 2,000 2,500 2,500 15,000 15,000 20,000