Fraud Examination 5th Edition by Steve Albrecht,Chad Albrecht,Conan Albrecht, Mark Zimbelman

Exercise 34

Sarah Welch was hired 15 years ago by Produce- R-Us, an importer of rare and exotic fruits. Produce-R-Us was started by an immigrant family 20 years ago and has grown to a national company with sales of $10 million annually. Although the business has grown, the family-owned business strives to maintain a "family atmosphere" and stresses trust. Because of Sarah's honesty and hard work, the manager quickly promoted her, and she now signs checks for amounts under $5,000 and also has responsibilities for Accounts Payable. Now, however, the owners are suspicious of Sarah's recent lifestyle changes and have hired you to determine whether Sarah is embezzling from the company. Public records reveal the following:
Perform a net worth calculation using the data above. (Ignore interest in your calculations.)