Steve and Jane Ibarra have been married for over two years. They have been trying to save for a down payment on a house, but they feel that there is never anything left over to save. They talked with their parents who suggested that they prepare an Income and expense statement. Steve and Jane put together the following worksheet, Worksheet Car payment $ 315 Savings account interest $ 50 Steve's commission 3,188 School loan 165 Commuter train pass (year) 3,300 Taxes Apple dividend 210 Steve 3,825 Renter's Insurance (year) 330 Jane 3,634 Puget Sound Energy bil 110 Wages & salarles Verizon bill 105 Steve 21,250 Rent 550 Jane 20,188 The following is some additional information. For income items, they knew yearly amounts. For expenses, in some cases they knew the annual amount (for example, Jane's monthly commuter train pass). They listed those amounts and noted them as such. Unfortunately, for other expenses, they provided last month's payment, stating that the amount didn't change much from month to month, Based on their employer-provided health insurance, they incur a copay of $35 per visit. They estimated that they saw the doctor (combined) 7 times during the year. For income items, they knew yearly amounts. For expenses, in some cases they knew the annual amount (for example, Jane's monthly commuter train pass). They listed those amounts and noted them as such. Unfortunately, for other expenses, they provided last month's payment, stating that the amount didnt change much from month to month, Based on thelr employer-provided health Insurance, they incur a copay of $35 per visit. They estimated that they saw the doctor (combined) 7 times during the year. Jane estimated that she spends about $150 a month on dothing and $220 a month on groceries. They went on a Disney Cruise trip that cost $1,750. They took an additional $500 in spending money. That was their only vacation. Prepare an annual income and expense statement for the Ibarras as of December 31. Round all dollar amount to the nearest whole dollar, and not include an item in another category if a category already exists for it. If an Item does not require a balance, be sure to insert a zero to avoid a loss of credit for the particular item. Income and Expense Statement Name(s): Steve and Jane Ibarra For ther Year | Ended: December 31, 2017 Income Dollars Wages and salaries Name: Steve Ibarra Name: Jane Ibarra Bonuses and commissions Steve's commission Investment income Apple dividend received Savings account (1) Total Income: Expenses Housing Rent or mortgage payment include insurance and taxes,if applicable) For the: Year | Ended: December 31, 2017 Dollars Income Name: Steve Ibarra Wages and salaries Name: Jane Ibarra Steve's commission Bonuses and commissions Investment income Apple dividend received Savings account (1) Total Income: Expenses Housing Rent or mortgage payment (indude insurance and taxes, if applicable) Utilities Gas, electric, water Phone Food Groceries Transportation Public transportation Auto loan Medical Health, major medical, disability insurance (payroll deductions are not provided by employer) Clothing Clothes, shoes, and accessories Insurance Rental or homeowner's insurance (if not covered by mortgage payment) es Steve's income and Social Security Jane's income and Social Security Recreation and entertainment Vacations Other School loan (2) Total Expenses: Cash Surplus or Deficit (1-2):