Create a balance sheet as of December 31st, 2014

and a cash flow statement for the three months

ending 12/31/14 using the following information. A

ssume bills are paid in current month unless

otherwise indicated.

Take home salary received each week is $450

Utility (electric/gas/water)

bills in October were $165, November $195, and December

$200.

Bought presents and clothes for $110 in Sept

ember, $140 in October, $350 in November.

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All purchases we're on credit and paid in the following month.

Credit limit on credit card is $3000.

Interest earned on savings during Oct

ober, November, and December was $5

Balance in savings account 12/31/14 was $0.

Car payment of $250 was paid each month.

Car loan outstanding at 12/31/14 is $

6000. Car has depreciated $4000 bye 12/31/14.

Paid car and home insurance for $330 on October 1.

Mortgage is $700 per month.

Borrowed a friends leaf blower for a week in November.

401k value per 12/31/14 statement is $2000.

Own home which was purchased for $100,000

(mortgage outstanding at 12/31/14 is

$87,000).

Withdrew $50 from ATM machine on December 12.

Received cash gift of $75 in December

and spent it on miscellaneous items.

Car was purchased for $10,000 last year.

Furniture, clothing, etc. worth approximately $20,000.

Phone bill was $30 per month.

Spending at supermarkets and restaurant

s was $1200 for October, November, and

December.

Flew to visit family for the holidays, airfare was $340.

Miscellaneous expenses for October through

December were $300 (gas for car, haircuts,

newspapers, etc.)

Portion of dentist bill not paid

by insurance was $60 in November.