Victor and Maria spent some time making up their first balance sheet, which is shown in

Table $3-2.$ Victor and Maria are a bit confused about how various financial activities can affect

their net worth.

$($a$)$ Assume that their home is now appraised at $$200,000$ and the value of their automobile

has dropped to $$8,500.$ Calculate and characterize the effects of these changes on their net

worth and on their asset$-$to$-$debt ratio.

$($b$)$ If Victor and Maria take out a bank loan for $$1,600$ and pay off their credit card debts

totaling $$1,600,$ what effects would these changes have on their net worth?

$($c$)$ If Victor and Maria sell their New York $2038$ bond and put the cash into the savings

account, what effects would this have on their net worth and liquidity ratio?