Adam's salary	$45,000		Utilities	$3,200
Arin's salary	30000		Groceries	2200
Interest received	500		Medical	1500
Dividends received	150		Property taxes	1659
Auto insurance	600		Income tax, Social Security	13000
Home insurance	750		Clothes and accesories	2000
Auto loan payment	3300		Gas and auto repair	2100
Mortgage payment	14000		Entertainment	2000

Income statement preparation Adam and Arin Adams have collected their personal income and expense information and have asked you to put together an income and expense statement for the year ended December 31, 2015. The following information is received from the Adams family

.

a. Create a personal income and expense statement for the period ended December 31, 2015. It should be similar to a corporate income statement.

b. Did the Adams family have a cash surplus or cash deficit?

c. If the result is a surplus, how can the Adams family use that surplus?

a. Create a personal income and expense statement for the period ended December 31, 2015. It should be similar to a corporate income statement.

PLEASE ANSWER QUESTIONS. THANKS.