Ed and Marta are paid $2,680 after taxes every month. Monthly expenses include $ 872 on housing and utilities, $340 for auto loans,$210 on food, and an average of $ 796 on clothing and other variable expenses. Calculate and interpret their savings ratio.(Hint: Prepare an income statement or use Worksheet 5, and then compute the ratio.)

The amount of Ed and Marta's income available for savings and investment is $

(Round to the nearest dollar.)