Lenny created the net worth statement shown.

Question

Net Worth Statement

Assets Value
House (current value) $95,000
Checking account $2,300
Automobile $15,750
Investments $10,550
Total Assets $123,600

Liabilities
Mortgage $80,000
Credit card debt $250
Total Liabilities $80,250

Based on the information in the statement, what is Lenny’s net worth?
Responses

A$203,850
$203,850
B$52,350
$52,350
C$43,350
$43,350
D$44,350

Answer 1

To calculate Lenny's net worth, we subtract the total liabilities (which is $80,250) from the total assets (which is $123,600):

$123,600 - $80,250 = $43,350

Therefore, Lenny's net worth is $43,350.

The correct answer is C) $43,350.