1) 3 examples I would consider to be assets are car, house, and cash
2) 2 examples I would consider to be liabilities are electricity bill and mortgages
3) Assets
Cash $ 10,000
House $ 50,000
Car $ 100,000
Total Assets $ 160,000
Liabilities
Electricity bill $ 100
Mortgages $ 3,000
Total Liabilities $ 3,100
Net Worth= Asset-Liabilities
= $ 160,000- $ 3,100
= $ 156,900
4) Balance Statement