The household of Chen and Marina has the following set of assets and liabilities at the end of the year, 2020:

Mortgage loan ($225,000);

Credit card debt ($2,000);

Car loan ($16,000);

House ($850,000);

Stocks and bonds ($15,000);

Cash and checking accounts ($1,500);

Computer, furniture & furnishings ($4,500);

Books, paintings, & Jewellery ($9,000);

Savings and term deposit accounts ($11,000);

Car ($30,000).

Given the above information,

(i) CONSTRUCT the balance sheet statement of Chen and Marina's household for the end of 2020;

(ii) determine their NET WORTH at the end of the year; and

(iii) evaluate how they can RAISE their net worth position for the following year.