1. Bill has monthly gross salary of $3,000 and take-home salary of $2,100. His monthly expenses amount to $1,000 and he saves $300 per month and uses the rest to pay his debts. He has cash in checking account of $2,500, emergency fund savings account of $4,200. He also owns a car with estimated value of $12,000. He owns personal possessions valued at $3,500. His credit card debts total $750 and other short-term debts are $800. The only long-term debt he has is balance on his student loan of $4,500.
   1. Prepare balance sheet for Bill.
   2. Does Bill save enough every month
   3. Does Bill have enough for emergency fund?
   4. Calculate Bills liquidity ratio and debt ratio and comment whether they are good or need improvement.