Financial data

Primary residence (Janice) 250,000

Mortgage on residence (250,000)

Cash account (Janice) 6,000

Cash account (Mother)

Janice 401K 153,000

Janice investments 72,000

Janice automobile 4,000

Janice credit card (13,000)

Income/ Expenses

Janice income 135,000

Jancie investment income 3,500

Family monthly expenses (including mortgage and taxes) 6,000

Other info

Janice mother is terminally ill and she has a 350,000 life insurance police on her which was given to her six years ago

Janice puts 13,000 per year into her 401K

Janice has a 500,000 twenty year term life insurance policy that was taken out 3 years ago and her daughter Carolyn is the beneficiary.

Question: if you were to draft a Personal Financial Statement for Janice, the total number of her assets would be

1. 486,000
2. 485,000
3. 268,000
4. 267,000