Understanding Net Worth Answers

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Consider Adam’s income statement. Which shows how to calculate Adam’s net income?

$1,310 - $3,100 = -$1,790

$3,100 + $1,310 = $4,710

$3,100 - $1,310 = $1,790

$4,710 - $3,100 = $1,610

What is the total value of Jasper’s liabilities?

$4,400

$11,340

$15,800

$20,260

Vijay’s net worth is:

$115,100

$118,500

$122,500

$274,500

What is the total value of Jasper’s assets?

Answers:

Selection 1:$15,800

Selection 2:$4,400

Vijay’s assets total:

$124,500

$272,500

$274,500

$297,800

Which would you use to determine how much money you have left over to save each month?X balance sheet✔ income statementnet worth statementpaystub

X balance sheet

✔ income statement

net worth statement

paystub

Vijay’s liabilities total:

$106, 000

$150,000

$156,000

$157,700

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