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Given the following, calculate the GDS ratio. All income and expense items are annual. Gross income $55,000 Bank account $1,000 Net income $38,000 Property taxes
Given the following, calculate the GDS ratio. All income and expense items are annual.
| Gross income | $55,000 | Bank account | $1,000 |
| Net income | $38,000 | Property taxes | $3,600 |
| Heating | $4,800 | Annual car payment | $4,200 |
| Credit card balance | $2,500 | Car loan balance | $10,000 |
| Student loan payments | $2,400 | Mortgage payments | $15,600 |
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College Accounting A Practical Approach
Authors: Jeffrey Slater, Brian Zwicker
11th Canadian Edition
132564440, 978-0132564441
