5. The total value of Deets' liabilities is: a. $58,000 b. $249,000 c. $255,000 d. $253,000 e. $554,500 6. Deets has a net worth of: a. $58,000 b. $249,000 c. $255,000 d. $303,500 e. $554,500 879 reis Reets N. Assets has taken inventory and has collected the following information on the value of everything he owns and owes as of December 31, 2016: Land and buildings $400,000 Breeding livestock owned $35,000 Crops in storage $ 30,000 Feeder livestock owned $14,000 Mortgage on land $225,000 Cash rent owed to his landlord $ 6,000* Machinery owned $ 65,000 Feed in storage $ 2,000 Loans owed on machinery $ 12,000 Production loan outstanding $ 9,000* Taxes owed $1,000 Supplies in storage $ 7,000 Cash on hand $3,000 Fuel in storage $ 500 *must be paid this year 5. The total value of Deets' liabilities is: a. $58,000 b. $249,000 c. $255,000 d. $253,000 e. $554,500 6. Deets has a net worth of: a. $58,000 b. $249,000 c. $255,000 d. $303,500 e. $554,500 879 reis Reets N. Assets has taken inventory and has collected the following information on the value of everything he owns and owes as of December 31, 2016: Land and buildings $400,000 Breeding livestock owned $35,000 Crops in storage $ 30,000 Feeder livestock owned $14,000 Mortgage on land $225,000 Cash rent owed to his landlord $ 6,000* Machinery owned $ 65,000 Feed in storage $ 2,000 Loans owed on machinery $ 12,000 Production loan outstanding $ 9,000* Taxes owed $1,000 Supplies in storage $ 7,000 Cash on hand $3,000 Fuel in storage $ 500 *must be paid this year