calculate long term debt ratio

Calculate the Long-Term Debt Coverage Ratio based on the information below (show all work for credit) Assets Cash $ 500 I. $ 1,200 Checking Savings/CDs Money Market Funds Other Monetary Assets Monetary Assets Mutual Funds Stocks Bonds Life Insurance (cash-value) Cash Value of Annuities Investment Real Estate (REITS. partnerships) $ $ 500 $ 90 $ 2,290 $ 5,600 Liabilities Current Bills (unpaid $ 350 balance) Visa $ 8,000 Master Card Other Credit Cards J. Credit Card Debt $ 8,000 First Mortgage $ 105,000 2nd Home Mortgage $100,000 Home Equity Loan $ 9,000 Other Housing Debt K. Housing $ 214,000 Automobile 1 $ 3,000 A. Automobile 2 Other investments L. B. Investments 401(k) and 403(b) $ 5,600 $ 2.500 Other Automobile Loans Automobile Loans College Loans Loans on Life Insurance Policies Bank loans $ 3,000 $ 4,000 Company Pension $ Kech RI O ornberger: Attempt 1 Keogh IRA Other Retirement Plans Retirement Plans $ 8,000 $ 1,000 Bank Loans Installment Loans Other Other Debts C. $ 10,500 M. $ 5,000 Primary Residence 170,000 2nd Home N. Total Debt (add lines $ 230,350 through M) Time-Shares/Condominiums Other Housing Net Worth D. Housing (market value) H. Total Assets $ 170,000 $ 8.000 $ 207,390 N. Less: Total Debt Equals: Net Worth $ 230,350 $ (22,960) 0 E $ 8,000 Automobile 1 Automobile 2 Other Automobiles Automobiles Collectibles Boats Furniture Other Personal Property Personal Property Money Owed You Market Value of Your Business Other $ 11,000 $ 11,000 o Other G. Other Assets $ H. Total Assets (add lines A through $ G) 207,390 $ 57,500 Income Wages and salaries Wage Earner 1 Wage Earner 2 Total Wages and salaries + Interest and Dividends + Royalties, Commissions and $ $ 57,500 $ 720 Rents + Other Income A. Total Income $ 58,220 Taxes Federal Income and Social Security + State Income B. Total Income Taxes $ 11,830 $ 1,880 $ 13.710 $ 44,510 C. After-Tax Income Available for Living Expenditures o w or Take-Home Pay (line A minus line B) Living Expenses Housing Rent + Mortgage Payments + Utilities Maintenance, Taxes, Furniture, Other D. Total Housing Expenditures $ 19,656 $ 10,820 $ 30,476 Food Food and Supplies + Restaurant Expenses E. Total Food Expenditures $ 5,800 $ 1,400 $ 7,200 Clothing and Personal Care F. Total Clothing and Personal Care Expenditures $ 2,590 Transportation Automobile Purchase + Payments + Gas, Tolls, Parking. Other G. Total Transportation Expenditures $ 2,588 $ 1,550 $ 4,138 W Recreation + Vacations + Other Recreation Expenses H. Total Recreation Expenditures $ 2.000 $ 1,700 $ 3,700 Medical Expenditures 1. Total Medical Expenditures $ 410 Insurance Expenditures Health + Life + Automobile + Disability J. Total Insurance Expenditures $ 420 $ 1,260 $ 260 $ 1,940 Other Expenditures Educational Expenditures (college loan $ 1,600 payment) + Child Care $ 180 + Other Expenses K. Total Other Expenditures $ 1.780 L. Total Living Expenditures (add lines D-K) $ 52.234 M. Income Available for Savings and $ (7.724) Investment