create a balance sheet using the information given on the Beckers and use the following exel template.
D ctice Terry and Evelyn Becker are a married couple their mid 20s. Terry has a good start us an electrical engineer and we works as a sales representative. Since the marriage four years ago, Terry and Evelyn have been living comfort. The income has exceeded their expenses, and they have accumulated an enviable net worth. This includes $10,000 that they have built up in savings and investments. Because their income has been more than enough for them to have the style they desire, the Bechers have done financing Evelyn has just learned that she's two months pregnant. She's concerned about how they make ends meetit she quits work after their child is bom tachime she and Terry discuss the water, he tells her not to worry because we've always managed to pay our bills on time." Encan't understand attitude because he income will be completely eliminated. To conneely that there's no need for concern, Terry points out that their expenses last year, but for the common stock purchase, were who equal to Mistake home pay. With an anticipated promotion and an expected 30 percent pas income next year should exceed this amount Terry also points out that they can reducere recreation, and entertainment and can always drawdown their savings or sell some of the stock they get in a bind. When Evelyn asks about the long run implications for their finances, Terry says there will be no problems because his boss has assured him that he has a bright future with the engineering form. Terry also emphasizes that Evelyn can go back to work in a few years if necessary Despite Terry's arguments, Evelyn feels that they should carefully examine their financial condition in order to do some serious planning. She has gathered the following financial information for the year ending December 31, 2016 Solonies Take-home Poy Gross Solory Terry $52.500 $76,000 Evelyn 29,200 42,000 Item Food Spending Clothing Spending Mortgage payments, including property taxes of $1,400 Travel and entertainment card balances Gas, electric, water expenses Household furnishings Telephone bill paid Auto loan balance Common stock investments Amount $5.502 2.300 11,028 2.000 1.990 4,500 640 4.650 7,500 Bank credit card balances Federal income taxes State income tax Social security contributions Cash on hand 2012 Nissan Sentra Medical expenses (unreimbursed) Homeowner's insurance premiums paid Checking account balance Auto insurance premiums paid Transportation Cable television bill paid Estimated value of home Trip to Europe Recreation and entertainment Auto loan payments Money market account balance Purchase of common stock Addition to money market account Mortgage on home 675 22.472 5,040 9,027 85 10.500 600 1,300 485 1,600 2.800 680 185.000 5.000 4,000 2,150 2,500 7,500 SOO 148,000 Worksheet2_1 BALANCE SHEET Date Name(s) May 22, 2018 ASSETS LIABILITIES s S Liquid Assets Cash on hand In checking Savings accounts Money market funds and deposits Certificates of deposit (
