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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
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). I cash-flow statement for Thomas, Round monetary values to the nearest doliar and percentage values to two decimal places. Balance Sheet for Thomas Green Dollars Percent ASSETS Monetary Assets Checking account Money market account U,S. savings bonds Total Monetary Assets Tangible Assets Personal property Automoblle Total Tangible Assets Investment Assets Mutual fund Vested retirement benefits Total Investment Assets TOTAL ASSETS LIABILITIES Short-Term Liabilities Dental bill. Visa Total Short-Term Llabilities Long-Term Liabilities Student loan Total Long-Term Llabilities TOTAL LIABILITIES NET WORTH TOTAL LIABILITIES AND NET WORTH Cash-Flow Statement for Thomas Green Dollars Percent INCOME Thomas' salary Child support Interest and dividends TOTAL. INCOME: EXPENDITURES Fixed Expenses Rent Mutual fund U.5. savings bond Health insurance Auto insurance Uninsured medicaldental Taxes Debt payments Total Fixed Expenses Varlable Expenses food Utilities iPhone Cable Internet Gas, maintenance, license Dry cleaning Personal care Child care ciothes. Food Utilities iPhone Cable Internet Gas, maintenance, license Dry cleaning Personal care Child care clothes Entertainment Vacation/visitation/travel Gifts Miscellaneous Total Variable Expenses TOTAL EXPENSES NET GAIN
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