Question

I'm stuck on this question.

Answer 1

$61,900

Step-by-step explanation:

Add all the assets: 90000 + 12500 + 20200 = 122700

Add all the liabilities: 53000 + 5800 + 2000 = 60800

Total assets - liabilities: 122700 - 60800 = $61900

Answer 2

Fred's total net worth is $61,900

Step-by-step explanation:

For net worth, add assets together and then subtract the liabilities from the total:

90,000 + 12,500 + 20,200

122,700 - (53,000 + 5,800 + 2,000)

61,900