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Dinesh's banker has asked him to submit a personal balance sheet as of June 30, 2020, in support of an application for a RM 6,000

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Dinesh's banker has asked him to submit a personal balance sheet as of June 30, 2020, in support of an application for a RM 6,000 home improvement loan. He comes to you for help in preparing it. So far, he has made the following list of his assets and liabilities as of June 30, 2020 RM RM Cash on hand 70 Balance in checking account 180 Balance in money market deposit account with 650 Southwest Savings Bills outstanding Telephone 20 Electricity 70 Charge account balance 190 Visa 180 Master card 220 Taxes 400 Insurance 220 1 300 Condo and property Condo mortgage loan Automobile: 2012 Honda Civic 68 000 52 000 9775 Installment loan balances : Auto loans Furniture loan 3 000 500 3 500 Personal property: Fumiture 1 050 Clothing 900 1 950 Investments: Amanah Saham Berhad 500 Kenchana Stocks 3 000 3 500 From the data given, prepare Dinesh's balance sheet, dated June 30, 2020. (15 Marks) a. Using ratio analysis, you are required to evaluate the following and advice Dinesh: i. Explain Dinesh's solvency position. (1.5 Marks) ii. Will Dinesh have enough liquidity to meet emergencies? Explain your answer (1.5 Marks) iii. Can Dinesh meet his debt obligation? (1.5 Marks)

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