John Wilson owns the following assets - primary residence valued at $350,000, a secondary residence valued at $150,000, an investment portfolio with a market value of $50,000, and other assets valued at $125,000. Liabilities are outstanding mortgage balances of $400,000, a car loan of $30,000 and other loans totaling $80,000.

What is John's net worth?

2. A Sanco Industries has $500,000 in cash, equipment that cost $600,000, $135,000 in accounts receivable and $800,000 in land.  The business has accounts payable of $100,000, equipment loans of $300,000 and a commercial mortgage on the land for $200,000.

What is Sanco's net worth?