Contingent Bank has the following balance sheet in market value terms (in millions of dollars).
|
Assets |
Liabilities |
||
|
Cash |
$20 |
Deposits |
$220 |
|
Mortgages |
220 |
Equity |
20 |
|
Total assets |
$240 |
Total liabilities and equity |
$240 |
In addition, the bank has contingent assets with $100 million market value and contingent liabilities with $80 million market value. What is the true stock holder net worth? What does the term contingentmean?