Ernie has applied for a loan to grow his business, which he owns jointly with his partner Bert. The loan will be secured on machinery owned by the business, together with a personal guarantee from Ernie. Ernie has submitted his Personal Balance Sheet to support this. Which item would you exclude in the calculation of Ernie's net worth?

His shares in the business.

His collection of rare antique toys.

I am not sure.

The outstanding mortgage on his apartment.

His bank balances.