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7. The following table shows information for three different families. Make sure to perform both median income and means tests for all three families. (12

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7. The following table shows information for three different families. Make sure to perform both median income and means tests for all three families. (12 points: Part I - 3 points; Part II - 2 points; Part III - 3 points; Part IV - 1 point; Part V - 3 points) Annual State of Median Annual Income of the Monthly Income Residence State of Residence Expenses The Normans $53,621 lowa 548,980 $4278 The Perrys $62,957 Hawaii $67,214 $5036 The Harrisons 556,887 Oregon $50,169 $4591 Part I: Do the Normans qualify for Chapter 7 bankruptcy? Why or why not? Which test, if any, do they pass/fail

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