I need some help with this lesson please it is for my GBS 132 class if you need more infor let me know

GBS132 Lesson 2: Exercise Part 1 Mary Sky's banker has asked her to submit a personal balance sheet as of June 30, 2010, in support of an application for a $3,000 home improvement loan. She comes to you for help in preparing the balance sheet. So far, she has made the following list of her assets and liabilities as of June 30, 2013: Cash on hand $ 70 Balance In checking account 180 Balance in money market deposit account with Southwest Savings Bills outstanding: Telephone $ 20 Electricity 70 Charge account balance 190 Visa 180 MasterCard Taxes 220 400 Insurance 220 1,300 Condo and property 68,000 Condo mortgage loan 52,000 Automobile: 2006 Honda Civic Installment loan balances: Auto loans 3,000 Furniture loan 500 3,500 10,000 650 Personal property: Furniture 1,050 Clothing 900 1,950 Investments: U.S. government savings bonds 500 Stock of Safeco Corporation 3,000 3,500 Review the balance sheet and determine Mary's (a) solvency, (b) liquidity, and (c) equity in her dominant asset. Part 2 Over the past several years, Joyce Chen has been able to save regularly. As a result, she has $54,188 in savings and investments. She wants to establish her own business in five years and feels she will need $100,000 to do so. If she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in five years? Will Joyce have the $100,000 she needs? If not, how much more money will she need? Given your answer to part (a), how much will Joyce have to save each year over the next five years to accumulate the additional money needed to reach $100,000? Assume she can earn interest at a rate of 6%. If Joyce can afford to save only $4,000 a year then, given your answer to part (a), will she have the $100,000 she needs to start her own business in five years? 2.Review the balance sheet and determine Mary's: a. Solvency b. Liquidity c. Equity in her dominant asset 3. Over the past several years, Joyce Chen has been able to save regularly. As a result, she has $54,188 in savings and investments. She wants to establish her own business in five years and feels she will need $100,000 to do so. a. If she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in five years? Will Joyce have the $100,000 she needs? If not, how much more money will she need? b. Given your answer to part (a), how much will Joyce have to save each year over the next five years to accumulate the additional money needed to reach $100,000? Assume she can earn interest at a rate of 6%. c. If Joyce can afford to save only $4,000 a year then, given your answer to part (a), will she have the $100,000 she needs to start her own business in five years