QUESTIONS 1. List the Sumralls' financial strengths and weaknesses. (25 pts)

QUESTIONS 1. List the Sumralls' financial strengths and weaknesses. (25 pts) STATEMENT ORELANCIAL POSHION Ike and Rhonda Sumrall Balnnee Sheet As of Desembers 31 hat yenr \begin{tabular}{|c|c|c|c|} \hline ASSETS & & LABILTIES \& NET WORTH & \\ \hline Cash and canh equivalents & & Linbiltties & \\ \hline Cash & 5500 & Credit Card balanee VISA & $9800 \\ \hline Sxvings Account & 11000 & Credit Card balnnee MUC & 6000 \\ \hline Total Cach and Equlualents & $11,500 & \begin{tabular}{l} Student Losa-Ihe pays for \\ Auto Loan-Rhonds \end{tabular} & \begin{tabular}{r} 145,061 \\ 14,796 \end{tabular} \\ \hline Invested Assets & & Fumiture Loen & 1,539 \\ \hline Fed. Exp, Stock (100 Shares) & 5,000 & Total Llabilinter & ST6,390 \\ \hline \begin{tabular}{l} Keas Stock (100 Shaneo) \\ Growth Mutual Fund \end{tabular} & \begin{tabular}{r} 7,200 \\ 13900 \end{tabular} & & \\ \hline \begin{tabular}{l} 401(3) Account \\ Totol Invested Assets \end{tabular} & 3277.600251.500 & Net Worth & 5.153,984 \\ \hline \begin{tabular}{l} Use Aurets \\ Auto-Rhonda \\ Truck-1ke \\ Motorsyele-Rhonda \\ Penonal Property \& Fumilure \end{tabular} & \begin{tabular}{r} 518,494 \\ 4,000 \\ 1,000 \\ 17,750 \\ \end{tabular} & & \\ \hline Total Asuets Total Use Assats & 5 & Total Liabilities \& Net Worth & \\ \hline \end{tabular} y Tre and Rhondn Sumrall Statement of Conh Flows (Brpected to be slantlar thits year) Janung 1 - December 31 Inst vear