Personal finance.For this assignment, use the information above to answer the following questions about the family's net worth:Calculate the family's total assets.Calculate the family's total liabilities.Calculate the family's net worth, and identify whether the net worth is positive or negative.List any expenses that would not fall on the balance sheet.

14.03b Homework Consider a family that has one working parent, a stay-at-home parent, and three children. Two of the children are in elementary school, and the youngest child is in Pre-Kindergarten. They have a house, a car, and a minivan, and they carry some credit card debt. . The house is valued at $89,000 with a mortgage balance of $80,000. . The car is worth $15,000. The family owes $15,000 on this auto loan. . The minivan is worth $20,000. The family owes $16,000 on this auto loan. . They financed new household furnishings valued at $5,000. The family owes $4,500 on this loan. . They have $15,000 in their retirement account. . They have $1,500 in emergency savings, $1,000 in savings, $500 in checking, and $1,500 in a CD. . They have $200 in cash. . Balances on the credit cards total $15,000. . The family pays $500 per month for school loans; the current balance is $25,000. . The family pays $350 per month for Pre-Kindergarten tuition