Jackie Eule's banker has asked her to submit a personal balance sheet as of June 30, 2016, in support of an application for a $6,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets and liabilities as of June 30, 2016:

Cash on hand	$70
Balance in checking account	180
Balance in money market deposit account with Southwest Savings	650
Bills outstanding:
Telephone	$20
Electricity	70
Charge account balance	190
Visa	180
MasterCard	220
Taxes	400
Insurance	220	1,300
Condo and property		68,000
Condo mortgage loan		52,000
Automobile: 2010 Honda Civic		9,775
Installment loan balances:
Auto loans	3,000
Furniture loan	500	3,500
Personal property:
Furniture	1,050
Clothing	900	1,950
Investments:
U.S. government savings bonds	500
Stock of Alpha Corp.	3,000	3,500

From the data given, prepare Jackie Eule's balance sheet, dated June 30, 2016 (follow the balance sheet form shown inWorksheet 2.1). Then evaluate her balance sheet relative to the following factors: (a) solvency, (b) liquidity, and (c) equity in her dominant asset.