Juan and Maria Gomez have been married for over 10 years. They both have good jobs with consistent incomes, and they are good savers. They believe that their financial picture is good, but they have never prepared a balance sheet. Juan and Maria pulled together the following items from bank statements, pay stubs, and bills. Check the items that would appear on a balance sheet. Do not be concerned about whether the amounts are correct. Check all that apply. IRA investments AAA Bank mutual fund Auto: 2010 Suburban (cost) Auto: 2007 Honda Pilot (cost) Auto loan balance (last payment) Bonds City Bank-checking City Bank-savings Cash Juan's salary Balance due on American Express credit card $ 6,750 5,650 23,000 20,000 1,125 10,800 36,000 45,000 300 45,000 Unpaid electric bill Life Insurance (cash value) Balance due on Master Card Balance due on Visa credit card Primary home Primary home mortgage Unpaid property taxes Maria's diamond earrings Stocks Unpaid telephone bill Amount paid last month for telephone $ 525 5,400 1,000 250 340,000 283,500 2,550 5,000 13,500 250 500 2,025 In addition, the Gomez's provided the following information: Based on comparable homes listed for sale in their neighborhood, the Gomez's believe that their home value is about 8% more than what they paid for it. The principal portion of their mortgage payments is approximately $950 per month. . A reliable jeweler said that Maria's diamond earrings could be sold at the value provided. After looking at Kelley Blue Book, they believe their cars can be sold for about 55% of original . cost. Use this information to fill in the missing amounts on Juan and Maria's balance sheet. You can use what you checked above to make sure you accounted for everything. Note: Some amounts are given to check your work. Round your percent to the one decimal place. Balance Sheet Name: Juan and Maria Gomez Date: December 31, 2017 Dollars Percent ASSETS Monetary Assets Total monetary assets Tangible Assets Total tangible assets Investment Assets Total investment assets (1) Total Assets 100.0% LIABILITIES Short-Term Liabilities Current portion of mortgage Credit card debt Property taxes Auto loan Electric bill Telephone bill Total short-term liabilities Long-Term Liabilities Long-term portion of mortgage Total long-term liabilities (2) Total Liabilities $228,025 43.9% Net Worth (1) (2) Total Liabilities and Net Worth 100.0%