6. Cash-flow statement

Sam and Joan Wallingford have been married for two years. They have been trying to save but feel that there is never anything leftover after expenses. Joan is taking a night course on personal finance, and she suggested that they prepare a cash-flow statement for the year ended December 31, 2021.

Use the worksheet that Sam and Joan provided plus the additional information to fill in the missing amounts on the Wallingfords cash-flow statement for the year ended December 31, 2021. (Note: Round percentages to one decimal place, and dollar amounts to the nearest whole dollar. If your answer is negative, use a minus sign.)

Sam and Joan put together the following worksheet.

Cash received & income taxes:		Cash payments:
Sams salary	$26,000	Rent	$1,307
Joans salary	24,700	School Loan	165
Sams bonus	3,900	Train pass (year)	900
Apple dividend	19	Car loan payment	315
Savings interest	16	Auto insurance (year)	330
Income taxes:		Puget Sound Energy	220
Sam	4,680	Vonage	105
Joan	4,446

Here is some additional information:

	For income items, they know yearly amounts. For some expenses, they know the annual amount (for example, Joans 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 $15 per visit. They estimated that they saw the doctor (combined) 3 times during the year.
	Sam 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.
	Joan estimated that she spends about $100 a week on groceries and $175 a month on clothing. She never has cash and uses her credit cards for everything.
	They went on a Disney Cruise that cost $1,975; they took an additional $500 for spending. That was their only vacation.

	Cash-Flow Statement
Name: Sam and Joan Wallingford
Date: For the year ended December 31, 2021
	Dollars
INCOME
Sams salary	26,000
Joans salary	24,700
Sams bonus	3,900
Interest and dividends
Total Income	$
EXPENDITURES
Fixed Expenses
Rent expense
Sams income taxes	4,680
Joans income taxes	4,446
Automobile loan payment
Education loan
Phone
Transportation	900
Automobile insurance and registration	330
Total fixed expenses	$
Variable Expenses
Food	$5,200
Utilities
Gasoline and maintenance
Vacations	2,475
Clothing
Miscellaneous (Sams withdrawals)	5,200
Medical expenses	45
Total variable expenses	$
Total Expenses	$
SURPLUS (DEFICIT)	$

Based on this cash-flow statement, Sam and Joan 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, 2020 to December 31, 2021.