Wesley and Cienna Froelich heard that you were taking the PFI/PFP 3301 course. Due to their limited knowledge in personal finance they are in a desperate need of your help! They want to know how well they are doing financially and how could they improve their situation.

Based on information they provided to you:

2. Construct their Balance Sheet.

Wesley's Salary (Net)	$ 45,000
Cienna's Salary (Net)	$ 45,000
Home value	$ 220,000
Mortgage payment	$ 9,200
2014 Toyota Corolla fair market value	$ 18,000
Checking Account balance	$ 1,500
Groceries	$ 8,500
Investment Account balance	$ 500
2014 Toyota Corolla loan payment	$ 4,400
Past Due Utility Bill	$ 250
Utilities	$ 3,000
Best Buy Credit Card Balance	$ 3,000
Entertainment	$ 3,200
2014 Toyota Corolla loan balance	$ 12,400
Stamp Collection	$ 2,500
Gas	$ 2,300
Mortgage balance	$ 148,600
Best Buy Credit Card Payments	$ 600
Jewelry	$ 1,800
Savings set aside each year towards a new car	$ 900
Tax Refund	$ 200
Money Market Account balance	$ 1,300
1999 Chevy Malibu fair market value	$ 1,400
401(k) Account balance	$ 750
Cash	$ 120
Auto Insurance payments	$ 1,350
Auto Registration	$ 1,800
Home and Auto Maintenance	$ 5,500
Credit Card Balance*	$ 150
*used to buy groceries and paid off monthly

Balance Sheet Wesley and Cienna Froelich December 31, 2017 ASSETS LIABILITIES&NET WORTH Monetary Assets Amount rt Liabilities Amount Total Monetary Assets Total Current Liabilities Investment Assets Long-Term Liabilities Total Investment Assets Total Noncurrent Liabilities Retirement Assets Total Retirement Assets Total Liabilities Housing Total Housing Net Worth utomobiles and Personal Property Total Automobiles and Personal Property Total Assets Total Liabilities and Net Worth