a) Jacqualines current portfolio comprises three types of assets, which are equities, bonds, and cash. Currently her portfolio value is standing at $120,000, with 35% invested in equities, 50% invested in bonds, and 15% in cash. She manages her portfolio using strategic asset allocation, hence she plans to maintain these compositions for a long term period. In one year's time, suppose the equity component of the portfolio has generated total returns of -5% while bond has returned 7%, and cash 3%. Demonstrate how Jacqualine rebalance her portfolio based on the target allocations using the table below. [11 marks] Asset Current One year later Adjustment Target Amount ($) Amount ($) Amount ($) Equities Bonds Cash Total