Frank and Fernanda are 35 and ag respectively . They have two kids ages 2 and 5 . They have come to you for help with their financial situation . They would like* to you review the information provided below and respond to the following : a ) Create a cash flow statement for the family ( 10 marks )* 6 ) Create a net worth statement for the family ( 6 marks ) . C ) Calculate the following ratios and explain what they mean for the family ( 3 marks each , total 15 marks ) : a . Liquidity ratio b . Asset - to - debt ratio C. Investment asset - to - total assets ratio J . Debt - to - net income ratio e . Consumer debt ratio d ) Provide financial planning 3 recommendations for them referencing their* current stage in the life cycle and their priorities . ( 9 marks ) . Monthly take home pay - Frank 3 , 650 Monthly take home pay - Fernanda 4 , 210 Monthly mortgage payment 2 , 200 Frank TFSA 6 , 585 Home insurance 40 Utilities 250 Property Tax 350 500, 000 Whole Life Insurance : Face value $500 , 000 Cash surrender value $5 , 000 50, 000 Fernanda's Car Value - leased 48, 000 Monthly Student loan payment - Fernanda 150 Frank's Car Value - owned 27, 000 Fernanda's monthly car payment 300Car insurance for both 250 Car expenses for both 120 Fernanda TFSA balance* 15, 235 Fernanda student loans balance ( 4. 5% APR. ) 12, 500 Principal residence* 725, 000 Visa monthly payment 50 Joint Non - registered account 5, 675 Cell phones for both 220 Groceries 500 Mortgage Balance 499, 000 Daycare 2, 000 Kids expenses 780 Line of credit balance ( 5. 5% APR ) 15 , 700 Line of credit monthly payment 450 Chequing account 2, 105 Fernanda RRSP balance 11 , 892 RESP - family plan 150 Visa balance outstanding ( 20% APR ) 1 , 220 Entertainment and Misc . 150 Savings Account balance* 20 , 625