6. Cash-flow statement

Prabakar and Gita Jain have been married for two years. They have been trying to save but feel that there is never anything leftover after expenses. Gita is taking a night course on personal finance, and she suggested that they prepare a cash-flow statement for the year ended December 31, 2016.

Use the worksheet that Prabakar and Gita provided plus the additional information to fill in the missing amounts on the Jains cash-flow statement for the year ended December 31, 2016. (Note: Round percentages to one decimal place, and dollar amounts to the nearest whole dollar. If your answer is negative, use a minus sign.)

Prabakar and Gita put together the following worksheet.

Cash received & income taxes:		Cash payments:
Prabakars salary	$25,250	Rent	$1,269
Gitas salary	23,988	School Loan	218
Prabakars bonus	3,788	Train pass (year)	900
IBM dividend	17	Car loan payment	315
Savings interest	14	Auto insurance (year)	435
Income taxes:		Central Maine Power	290
Prabakar	4,545	T-Mobile	138
Gita	4,318

Here is some additional information:

	For income items, they know yearly amounts. For some expenses, they know the annual amount (for example, Gitas annual commuter-train pass). They listed those amounts and noted them as such.
	Unfortunately, for other expenses, they provided the payment they made last month, stating that the amount doesnt change much from month to month.
	Based on their employer-provided health insurance, they incur a copay of $30 per visit. They estimated that they saw the doctor (combined) 6 times during the year.
	Prabakar estimated that he spends about $60 a week on gas and maintenance for their two cars, and he takes out $100 for spending money every week.
	Gita estimated that she spends about $100 a week on groceries and $150 a month on clothing. She never has cash and uses her credit cards for everything.
	They went on a Norwegian Cruise that cost $1,975; they took an additional $500 for spending. That was their only vacation.

	Cash-Flow Statement
Name: Prabakar and Gita Jain
Date: For the year ended December 31, 2016
	Dollars
INCOME
Prabakars salary	25,250
Gitas salary	23,988
Prabakars bonus	3,788
Interest and dividends
Total Income	$
EXPENDITURES
Fixed Expenses
Rent expense
Prabakars income taxes	4,545
Gitas income taxes	4,318
Automobile loan payment
Education loan
Phone
Transportation	900
Automobile insurance and registration	435
Total fixed expenses	$
Variable Expenses
Food	$5,200
Utilities
Gasoline and maintenance
Vacations	2,475
Clothing
Miscellaneous (Prabakars withdrawals)	5,200
Medical expenses	180
Total variable expenses	$
Total Expenses	$
SURPLUS (DEFICIT)	$

Based on this cash-flow statement, Prabakar and Gita have a cash for the year. This means that if they accounted for all of their cash flows in and out, their bank balance should have by from December 31, 2015 to December 31, 2016