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Fred ( age 4 4 ) and Wilma ( 4 2 ) are married and have one child, age 7 . Their annual salaries are

Fred (age 44) and Wilma (42) are married and have one child, age 7. Their annual salaries are $62,500(for Fred) and $51,250(for Wilma). Both contribute to 401(k) account and their employer matches $0.40 for each dollar contributed upto 3% of their salaries. Additional financial data is provided below. What is the net worth as of 12/31/2019?
Checking Account Balance $3,000
Savings Account Balance $3,750
401(k) Balance - Wilma $52,500
401(k) Balance - Fred $57,250
529 Plan Balance $2,500
House Value $215,000
Automobile Value - Wilma $19,500
Automobile Value - Fred $17,500
Jewelry Value $2,500
Furniture Value $7,250
Credit Cards Balance $10,900
Next Year's Mortgage Payment due - Principal $23,500
Next Year's Auto Loan Payments Principal $4,950
Mortgage Balance on House $209,500
Auto Loan Balance $27,500
Balance Sheet data (as of 12/31/2018)
Investment Assets $105,800
Total Assets $375,800
Net Worth $130,200
Income and Expenses during 2019
Salary Wilma $51,250
Salary Fred $62,500
Nondiscretionary Expenses:
Property Tax $6,450
Food Expenses $4,800
Insurance - House $3,530
Insurance - Life $1,150
Insurance - Auto $2,200
Utilities $2,100
Mortgage - Interest $9,450
Mortgage - Principal $24,200
Credit Card $2,200
Auto Loans $5,250
Auto Maintenance $600
Auto Gas $3,200
Child Support $2,400
Telephone/Internet $2,200
Discretionary Expenses:
Savings - Retirement - Wilma $1,538
Savings - Retirement - Fred $1,875
Savings - Education $2,890
Taxes - Federal $12,475
Taxes - State $0
Taxes - Payroll $9,560
Clothing $3,600
Entertainment $4,200
Maid Services $4,800
Vacation $4,250

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