Do the Math 3-5 Construct Financial Statements Thomas Green, of Laramie, Wyoming, has been a retail salesclerk for six years. At age 35 , he is divorced with one child, Amanda, age 7. Thomas' salary is $46,000 per year. He regularly receives $500 per month for child support from Amanda's mother. Thomas invests $100 each month ( $50 in his mutual fund and $50 in U.S. savings bonds). \begin{tabular}{lr} ASSETS & Amount \\ \hline Vested retirement benefits & \\ (no employee contribution) & $6,000 \\ Money market account (includes $150 of & \\ interest earned last year) & 5,000 \\ Mutual fund (includes $200 of reinvested & \\ dividend income from last year) & 5,000 \\ Checking account & 1,000 \\ Personal property & 5,000 \\ Automobile & 12,500 \\ U.S. savings bonds & 2,500 \\ LIABILITIES & Outstanding \\ & Balance \\ \hline Dental bill (pays $25 per month and is & \\ included in uninsured medical/dental) & $50 \\ Visa (pays $100 per month) & 3,500 \\ Student loan (pays $100 per month) & 7,500 \\ ANNUAL FIXED EXPENSES & Amount \\ \hline Auto insurance & $8,000 \\ Rent & 1,000 \\ Uninsured medical/dental & 5,600 \end{tabular} Using the information above, construct a balance sheet and a cash-flow statement for Thomas. Round monetary values to the nearest dollar and percentage values to two decimal places. Balance Sheet for Thomas Green Long-Term Liabilities Student loan Total Long-Term Liabilities TOTAL LIABILITIES NET WORTH TOTAL LIABILITIES AND NET WORTH $ % Cash-Flow Statement for Thomas Green Do the Math 3-5 Construct Financial Statements Thomas Green, of Laramie, Wyoming, has been a retail salesclerk for six years. At age 35 , he is divorced with one child, Amanda, age 7. Thomas' salary is $46,000 per year. He regularly receives $500 per month for child support from Amanda's mother. Thomas invests $100 each month ( $50 in his mutual fund and $50 in U.S. savings bonds). \begin{tabular}{lr} ASSETS & Amount \\ \hline Vested retirement benefits & \\ (no employee contribution) & $6,000 \\ Money market account (includes $150 of & \\ interest earned last year) & 5,000 \\ Mutual fund (includes $200 of reinvested & \\ dividend income from last year) & 5,000 \\ Checking account & 1,000 \\ Personal property & 5,000 \\ Automobile & 12,500 \\ U.S. savings bonds & 2,500 \\ LIABILITIES & Outstanding \\ & Balance \\ \hline Dental bill (pays $25 per month and is & \\ included in uninsured medical/dental) & $50 \\ Visa (pays $100 per month) & 3,500 \\ Student loan (pays $100 per month) & 7,500 \\ ANNUAL FIXED EXPENSES & Amount \\ \hline Auto insurance & $8,000 \\ Rent & 1,000 \\ Uninsured medical/dental & 5,600 \end{tabular} Using the information above, construct a balance sheet and a cash-flow statement for Thomas. Round monetary values to the nearest dollar and percentage values to two decimal places. Balance Sheet for Thomas Green Long-Term Liabilities Student loan Total Long-Term Liabilities TOTAL LIABILITIES NET WORTH TOTAL LIABILITIES AND NET WORTH $ % Cash-Flow Statement for Thomas Green