Use the following items to prepare a balance sheet and a cash flow statement. Determine the total assets, total liabilities, net worth, total cash inflows, and total cash outflows. Balance Sheet and Cash Flows Rent for the month $ 1,580 Monthly take-home salary $ 3,860 Cash in checking account 1,250 Savings account balance 2,300 Spending for food 960 Balance of educational loan 2,480 Current value of automobile 8,040 Telephone bill paid for month 66 Credit card balance 305 Loan payment 150 Auto insurance 234 Household possessions 3,840 Stereo equipment 2,580 Payment for electricity 171 Lunches/parking at work 236 Donations 90 Home computer 2,080 Value of stock investment 1,420 Clothing purchase 204 Restaurant spending 169