Date: December 31,2012 Personal Property Honda Pilot $11,247,50 Total Personal $11,247.50 Propertyz (2) Total Liabilities: (1) Total 5 Net Worth (1) - (2): Assets: Total Liabilities and Net Worth: It isn't just the preparation of a balance sheet but the interpretation of the data that can reveal a family's financial condition. Andy and Kim Garza are both age 44. Using data from the 2012 Federal Reserve Bulletin (shown) and the Garzas' balance sheet, what conclusions can you draw? Source: Jewue Bricker et a1, "Changes in U.S. Family Finances from 200% to 2010 : Evidence from the survey of Consumer Financee," Federal Resenve Bulledis 95 , no. 2 (lune 2012 : 17, has:// www federoseierve gov/pubs/bulebiv2012/articles/sot/set nom. With their balance sheet in place, Andy and Kim can compare their total liabilitles to their total assets to generate a more realistic view of their current wealth position. The Federal Reserve Bulletin provides data on median net worth, broken down by age brackets. - Based on the Federal Reserve Bulletin data, the Garzas are the median net worth for their age group. - Their would be considered their dominant asset. - Based on their liabilities, it appear that they have adequate liquid assets to meet their bill payments and to cover any small, unexpected expenses; - Their balance sheet lists their house at 8% higher than the purchase price. The equity in their home is