Adam and Arin Adams have collected their personal asset and
liability information and have asked you to put together a balance sheet as of
December 31, 2015. The following information is received from the Adams family
a. Create a personal balance sheet as of December 31, 2015.
It should be similar to a corporate balance sheet.
b. What must the total assets of the Adams family be equal to by December 31, 2015?
c. What was their net working capital (NWC) at the end of
the year? (Hint: NWC is the difference between total liquid assets and total
current liabilities.)
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