FINANCIAL STATEMENTS ANALYSIS The Balance Sheet Richard called and said that he had compiled a list of assets and would send it. It came a few days later. His assets Page 129 included a bome worth $300,000, approximately $350,000 in securities, two cars worth $40,000 with loans of $15,000 against them, and other assets including jewelry (worth 55.000) art (55,000), and furniture (57,000). Richard and his wife had morwy market funds of 2,000, a bonus due of $5,000 net of taxes, and credit card payments due of $12,000. Their house had a $130.000 mortgage Case Application Questions 1. Construct the balance sheet 2. Does it look wubstantial 3. Would you tell Richard and Monica that it was strong? Why