Corey has a mountain bike worth $$600,$ a credit card debt of $$450,$$$260$ in cash, a Sandy Koufax baseball card worth $$1,000,$$$1,500$

in a checking account, and an electric bill due for $$550.$

a$.$ Construct Corey's balance sheet on your own and calculate his net worth.

Instructions: Enter your responses as whole numbers.

Corey's net worth: $$1$

For parts b through d$,$ 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.

Instructions: Enter your responses as integer values.

Assets $($

and equal $

Liabilities remain unchang hat$()$ and equal $

Wealth $($

and equals $

c$.$ Corey uses $$450$ from his paycheck to pay off his credit card balance. The remainder of his paycheck is spent in a way that does not

impact his balance sheet.

Instructions: Enter your responses as integer values.

Assets

and equal $

Liabilities

Jand equal $

Wealth $|$

and equals $

d$.$ Corey writes a $$450$ check on his checking account to pay off his credit card balance.

Instructions: Enter your responses as integer values.

Assets $()$ and equal $ $.$

Liabilities decline

and equal $

Wealth

and equals $

Of the events in the previous three parts, which, if any, corresponds to saving on Corey's part?

Part $()$ corresponds to saving.