Dante listed his assets and liabilities on a personal balance sheet.
dante’s balance sheet (august 2013)
assets
liabilities
cash
$900
credit card
$4,000
investments
$1,100
student loan
$1,000
house
$150,000
mortgage
$100,000
car
$8,000
car loan
$5,000
total
total
which statement is true about the value of dante’s assets and liabilities?
he has $50,000 more in assets than in liabilities.
he has $50,000 more in liabilities than in assets.
he has $110,000 more in liabilities than in assets.
he has $160,000 more in assets than in liabilities.