Use Worksheet 2.1 Katie Wright's banker has asked her to submit a personal balance sheet as of June 30, 2020, in support of an application for a $3,000 home improvement loan. She comes to you for help in preparing it. So far, she has made the following list of her assets and liabilities as of June 30, 2016:

Cash on hand	$ 70
Balance in checking account	180
Balance in money market deposit account with Southwest Savings	720
Bills outstanding:
Telephone	$ 20
Electricity	70
Charge account balance	190
Visa	180
MasterCard	220
Taxes	400
Insurance	220	$1,300
Condo and property		72,000
Condo mortgage loan		50,000
Automobile: 2016 Honda Civic		12,000
Installment loan balances:
Auto loans	3,000
Furniture loan	500	3,500
Personal property:
Furniture	1,050
Clothing	900	1,950
Investments:
U.S. government savings bonds	500
Apple Stock	3,000	3,500

From the data given, prepare Katie Wright's balance sheet, dated June 30, 2020 (follow the balance sheet form shown in Worksheet 2.1). Then evaluate her balance sheet relative to the following factors: (a) solvency, (b) liquidity, and (c) equity in her dominant asset.

Balance Sheet
Name(s): Katie Wright				Date: 30-Jun-20
Assets				Liabilities and Net Worth
Liquid assets:				Current liabilities:
Cash on hand	$			Utilities	$
In checking				Rent
Savings accounts				Insurance premiums
Money Market funds and deposits				Taxes
				Medical/dental bills
Certificates of deposit (<1 yr to maturity)				Repair bills
Total Liquid Assets	$			Bank credit card balances
Investments:				Dept. store credit card balances
Stocks				Travel and entertainment card balances
Bonds				Gas and other credit balances
Certificates of deposit (<1 yr to maturity)				Bank line of credit balances
Mutual funds				Other current liabilities
Real estate				Total Current Liabilities	$
Retirement funds, IRA				Long-term Liabilities
Other				Primary residence mortgage	$
Total Investments	$			Real estate investment
Real Property				mortgage
Primary residence	$			Auto loans
Second home				Appliance/furniture loans
Other				Home improvement loans
Total Real Property	$			Single-payment loans
Personal Property				Education loans
Auto(s): 2016 Honda Civic	$			Margin loans
				Other long-term liabilities
Recreational vehicles
Household furnishings				Total Long-Term Liabilities	$
Jewelry and artwork
Other				Total Liabilities	$
Other
Total Personal Property	$			Net Worth	$
Total Assets	$			Total Liabilities and Net Worth	$

1. Solvency ratio. Enter your answer as a percentage rounded to two decimal places. _____%
2. Liquidity ratio. Enter your answer as a percentage rounded to two decimal places. _____%
3. Equity in her dominant asset. Enter your answer as a percentage rounded to two decimal places. _____%