Barbara Smith is 22 years. She is going to college full-time and working part time in a bakery. She wants your help in creating her financial statements. Her goal is to one day open her own pastry shop. A friend in real estate says he can help her get a place if she can come up with the down payment. She needs to save $9,000 for the down payment for places in her price range. Barbara has two savings account: a regular one and one she calls her "rainy day" savings account which is for emergencies. Current Financial Situation Assets: Monthly Expenses: Checking account $1,250 Rent obligation $275 Emergency fund savings account $3,100 Utilities/electricity 580 Car $4,000 Utilities/water $45 Computer & iPad $500 Utilities/cable TV S60 Liabilities: Food S120 Student loan $5,400 Gas/maintenance $100 Credit card balance $400 Credit card payment $50 Income: Car insurance $50 Gross monthly salary $2,125 Clothing Net monthly salary $1,560 Entertainment: Savings allocation: Cake decorating class $35 Regular savings $150 Movies with friends $50 Rainy day savings $25 $50