5. Faith Brooks, a 28-year-old college graduate, never took a personal pare She pays her bills on time, has managed to save a little in a mutual fund, and (with the help of an inheritance) has managed a down payment on a condominium. But Faith worries about her financial situation. Given the following information, pre- Worksheet 4 and Worksheet 5. Using information from these statements, cal- culate the current ratio, savings ratio, month's living expenses covered ratio, debt ratio, and long-term debt coverage ratio. Interpret these financial statements and ratios for Faith. Based on your assessment, what advice would you give Faith? In addition to the following list, Faith offers these explanations: 4 All short-term and long-term liabilities are unpaid. "Other expenses, monthly" represents cash spent without a record. She charges all incidentals on her credit cards and pays the balances off monthly. The balances shown below represent her average monthly balances. Visa bill Stocks $355 Checking account $825 $5,500 Quarterly auto insurance (not due) $450 MasterCard bill $245 Inherited coin collection $3,250 Monthly paycheck, net $2,400 Condominium $65,000 Annual medical expenses $264 Food, monthly $225 Mortgage payment, monthly $530 Auto $9,000 Temple Mutual Fund $2,100 401(k) retirement account $4,500 Furnishings Mortgage outstanding $5,500 $50,000 Car payment, monthly $265 Auto loan outstanding $4,225 Total monthly utilities $275 Other personal property $8,000 Savings account $2,300 Other expenses, monthly $150 Clothing expense, monthly $45 +