Attempts Average 1 6. Income and expense statement Skip and Jackie Garcia 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 Skip and Jackie put together the following worksheet $ 16 113 Worksheet Car payment $ 315 Savings account interest Skip's commission 2,813 School loan Commuter train pass (year) 2,256 Taxes Nike dividend 68 Renter's Insurance (year) 225 Jackie Dallas Power & Light bill 75 Wages & salaries U.S. Cellular bin 71 Skip Rent 375 Jackie Skip 3,375 3,206 18,750 17,813 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, Jackie's 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. Jackle estimated that she spends about $175 a month on clothing and $150 a month on groceries. They went on a Carnival Cruise trip that cost $2,200. They took an additional $500 in spending money. That was their only vacation OP 3 9 Prepare an annual income and expense statement for the Garclas as of December 31. Round all dollar amounts to the nearest whole dollar, and do 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): Skip and Jackie Garcia For the Year Ended: December 31, 20XX Income Dollars Wages and salaries Name: Skip Garcia $18,750 Name: Jackle Garcia Bonuses and commissions Skip's commission 2.813 Investment income Nike dividend received 68 Savings account (1) Total Income: S Expenses Housing Rent or mortgage payment (include Insurance and taxes, if applicable) 4,500 Utilities Gas, electric, water Phone 352 Food Groceries 1,800 Transportation Public transportation 2,256 Auto loan Medical Health, major medical, disability insurance (payroll deductions are not provided by 245 employer) Clothin Clothes, shoes, and accessories 2,100 Insurance Rental or homeowner's insurance (if not covered by mortgage payment) 225 Taxes Skip's income and Social Security Jackie's income and Social Security 3,206 Recreation and entertainment Vacations 2,700 Other School loan 1,356 (2) Total Expenses: S Cash Surplus or Deficit (1- S 2): FI