2. Use the following items to prepare a personal balance sheet (refer to the example in the unit folder). After you've created the personal balance sheet, calculate the total assets, total liabilities, and net worth, then enter those values into the sheet. Be sure to include all the headings and numbers. Personal consumer loan balance = $550 Canada Savings Bonds = 5600 House furniture = $900 Current value of automobile = $7,000 Credit card balance = $349 Cash in chequing account = $754 Balance in savings account = $2,350 Other liabilities = $750 Tax-Free Savings account = $1,500 Student loan = $5,500 3. Use the following data to prepare an income and expenses statement (also called a cash flow statement) and calculate the total cash inflows, and total cash outflows. Is there a cash surplus or deficit? Be sure to include all the headings and numbers. Rent for the month =$750 Auto insurance = $234 Monthly take home salary = $2,350 Lunches at work = $43 Groceries = $433 Gasoline = $122 Telephone bill for the month = $65 Restaurant spending = $58 Loan payment = $120 Electricity = $98 Clothing = $75 4. Once you have determined your net worth using a personal balance sheet, what are two ways to increase your net worth. 2) 5. Describe two of the tips to save money while you're in school. Have you used these tips already