KES 5 Expand Your Critical Thinking 4-09 Companies prepare balance sheets in order to know their financial position at a specific point in time. This enables them to make a comparison to their position at previous points in time and gives them a basis for planning for the future. In order to evaluate your financial position, you can prepare a personal balance sheet. Assume that you have compiled the following information regarding your finances. (Hint: Some of the items might not be used in your personal balance sheet.) udy Amount owed on student loan balance (long-term) $4,600 Balance in checking account 1,300 Certificate of deposit (6-month) 3,300 Annual earnings from part-time job 11,000 Automobile 7,400 Balance on automobile loan (current portion) 1,420 Balance on automobile loan (long-term portion) 4,000 Home computer 850 Amount owed to you by younger brother 300 Balance in money market account 1,960 Annual tuition 6,300 Video and stereo equipment 1,310 Balance owed on credit card (current portion) 140 Balance owed on credit card (long-term portion) 1,640 Prepare a personal balance sheet using the format you have learned for a classified balance sheet for a company. For the equity account, use M. Y. Own, Capital. (Ust Current Assets in order of liquidity) Balance Sheet Assets o 3: here to search US Hide Skatem Announcements s $ $ Liabilities and Owner's Equity >> $ Click if you would like to Show Work for this question: Open Show Work 1 ere to search o