Ariana and Nicholas Peterson are about to construct their income and expense statement for the year ending December 31, 2020. Nicholas is finishing up college and currently has no income. They have put together the following income and expense information for 2020:

Ariana's salary	$45,000
Reimbursement for travel expenses	1,950
Interest on:
Savings account	110
Bonds of Delta Corporation	70
Groceries	4,150
Rent	9,800
Utilities	960
Gas and auto expenses	650
Nicholas' tuition, books, and supplies	3,300
Books, magazines, and periodicals	280
Clothing and other miscellaneous expenses	2,900
Cost of photographic equipment purchased with charge card	2,200
Amount paid to date on photographic equipment	1,600
Ariana's travel expenses	1,950
Purchase of a used car (cost)	9,750
Outstanding loan balance on car	7,300
Purchase of bonds in Delta Corporation	4,900

Using the information provided, prepare an income and expense statement for the Petersons for the year ending December 31, 2020 (follow the form shown in Worksheet 2.2). Enter all expense amounts as positive values.

INCOME AND EXPENSE STATEMENT

Name(s) Ariana and Nicholas Peterson

For the [month or year] Year

Ended December 31, 2020

INCOME

Wages and salaries	Name: Ariana Peterson	$
	Name:
	Name:
Self-employment income
Bonuses and commissions
Investment income	Interest received	$
	Dividends received
	Rents received
	Sale of securities
	Other
Pensions and annuities
Other income	Reimbursement for travel expenses	$

(I) Total Income

$

EXPENSES

Housing	Rent/mortgage payment (include insurance and taxes, if applicable)	$
	Repairs, maintenance, improvements
Utilities	Gas, electric, water	$
	Phone
	Cable TV and other
Food	Groceries	$
	Dining out
Transportation	Auto loan payments	$
	License plates, fees, etc.
	Gas, oil, repairs, tires, maintenance	$
Medical	Health, major medical, disability insurance (payroll deductions or not provided by employer)
	Doctor, dentist, hospital, medicines
Clothing	Clothes, shoes, and accessories	$
Insurance	Homeowner's (if not covered by mortgage payment)
	Life (not provided by employer)
	Auto
Taxes	Income and social security
	Property (if not included in mortgage)
Appliances, furniture, and other major purchases	Loan payments	$
	Purchases and repairs
Personal care	Laundry, cosmetics, hair care
Recreation and entertainment	Vacations
	Other recreation and entertainment	$
Other items	Nicholas' tuition, books, and supplies	$
	Purchcase of Delta Corp. bonds	$
	Travel expenses	$

(II) Total Expenses

$

CASH SURPLUS (OR DEFICIT) [(I)-(II)]

$