Bill and Nancy Ballinger are about to construct their income and expense statement for the year ending December 31, 2017 Bill is finishing up college and currently has no income They have put together the following income and expense information for 2017:

Nancy's salary $47,000 Reimbursement for travel expenses 1,950 Interest on: Savings account 110 Bonds of Alpha Corporation 70 Groceries 4,150 Rent 9,600 Utilities 960 Gas and auto expenses 650 Bill's tuition, books, and supplies 3,300 Books, magazines, and periodicals 280 Clothing and other miscellaneous expenses 2,700 Cost of photographic equipment purchased with charge card 2,200 Amount paid to date on photographic equipment 1,600 Nancy's travel expenses 1,950 Purchase of a used car (cost) 9,750 Outstanding loan balance on car 7,300 Purchase of bonds in Alpha Corporation 4,900 Using the information provided, prepare an income and expense statement for the Ballingers for the year ending December 31, 2017 (follow the form shown in Worksheet 2.2 ).