Abby is 25 years old and has been working after graduating from university. She earns an annual net salary of $50,000 (after tax and ACC levies). She has not joined the KiwiSaver scheme; if she does (with minimum of 3% contribution) her after-tax annual net salary will be $48,500. She is hoping to buy a house in the next 5 years. She has passed you the records of income, expenses and some other information (all expressed on an annual basis). Items Amount ($) Car loan balance 12,000 Car loan payment 3,600 Car value 18,000 Car-related: licence, petrol, and repair 4,500 Cash 1,000 Entertainment and dine-out 7,800 Furniture 14,000 Groceries 4,500 Household-related: electricity, internet, and telephone 3,500 Non-interest paying cheque account 2,000 Rent 25,000 Salaries 50,000 Please note that the above information will be repeated on the next page. Question 36 Not yet answeredMarked out of 3.00Not flaggedFlag question Question text Calculate Abbys annual surplus (or deficit). Show full working. [3 marks] 50000-3600-4500+1000-7800-14000-4500 Question 37 Not yet answeredMarked out of 3.00Not flaggedFlag question Question text Calculate Abbys net worth. Show full working. [3 marks] Question 38 Not yet answeredMarked out of 2.00Not flaggedFlag question Question text Abby refers to the SMART guidelines when doing her budget. See the following sentence, and identify which criteria (S, M, A, R or T) it relates to. I want to increase my income. [2 marks] Answer: Question 39 Not yet answeredMarked out of 2.00Not flaggedFlag question Question text Based on Abbys case, identify ONE item from the table above as the example of discretionary expense. If nothing fits, write NA with a brief explanation. [2 marks] Question 40 Not yet answeredMarked out of 2.00Not flaggedFlag question Question text Consider Abbys emergency saving. Identify ALL items from the table above that can be considered as liquid funds, based on Abbys personal Balance Sheet. It nothing fits, write NA with a brief explanation.