Emily is a third year student at a university in southwestern Ontario, Emilly is pursuing a 4-year degree and is concerned with her current financial situation whereby, she is constantly maxing out her credit cards and having to resort to financial assistance from her parents. She lives with her friend who attend the same university and her portion of the rental expenses including her share of utilities works out to $900.00 a month. Emily moved into her apartment with her friend at the start of her third year of studies and borrowed her share of the 1st and last month's rent deposit from her sister which amounted to $1,800.00 including utilities. Below is a list of Emily's assets and liabilities: Savirigs account $1,500.00 Credit Card 1 account balance of $1,350.00 at 20% per annum, Credit Card W2 account balance of $1,934.00 at 24% per annum Credit card #3 $772.00 interest rate of 18% per annum Chequing account balance 5540.00 Amount owed to her sister $1,800.00 Cash on hand $160,00 OSAP loan cat 0% interest) $24,585.00 Required: Please prepare a net worth statement for Emily and comment on her financial situation. (7 marks) b). Emily receives a gift from her Grandmother of $9,000.00 what do you advise Emily to do this money? Justify / explain your reasons why for your answer and the Net effect on Emily's Credit Score