In-class Assignment-Kevin and Amy This asslgnment is to be completed in groups of 3. Each group is required to submit ONE asslenment onfy, with all group members names and student numbers on it. Newlyweds Kevin and Amy are both 31 years old. They have been struggling to get their finances under control after their wedding and honeymoon. They never seem to have enough money to cover all their expenses, especially after buying their condo. When you met with them last month, you asked them to track their spending over the next month. They have sent you the following information. Requirements: 1. Prepare Kevin and Amy's Net worth Statement using proper format. (5 marks) 2. Prepare Kevin and Amy's Cash Flow statement using proper format. Hint: You will need to calculate their CPP and EI contributions. (10 marks) 3. Analyze Kevin and Amy's Net Worth and Cash Flow statements. (5 marks) 4. Prepare and analyze the following ratios for Kevin and Amy: a) Debt ratio ( 2 marks) b) Current ratio ( 2 marks) c) Emergency fund ratio ( 2 marks) d) Debt payment ratio ( 2 marks) e) Savings ratio ( 2 marks) f) Gross Debt Service ratio (2 marks) g) Total Debt Service ratio ( 2 marks) Remember to pay attention to format and presentation. Total Marks /34 In-class Assignment-Kevin and Amy This asslgnment is to be completed in groups of 3. Each group is required to submit ONE asslenment onfy, with all group members names and student numbers on it. Newlyweds Kevin and Amy are both 31 years old. They have been struggling to get their finances under control after their wedding and honeymoon. They never seem to have enough money to cover all their expenses, especially after buying their condo. When you met with them last month, you asked them to track their spending over the next month. They have sent you the following information. Requirements: 1. Prepare Kevin and Amy's Net worth Statement using proper format. (5 marks) 2. Prepare Kevin and Amy's Cash Flow statement using proper format. Hint: You will need to calculate their CPP and EI contributions. (10 marks) 3. Analyze Kevin and Amy's Net Worth and Cash Flow statements. (5 marks) 4. Prepare and analyze the following ratios for Kevin and Amy: a) Debt ratio ( 2 marks) b) Current ratio ( 2 marks) c) Emergency fund ratio ( 2 marks) d) Debt payment ratio ( 2 marks) e) Savings ratio ( 2 marks) f) Gross Debt Service ratio (2 marks) g) Total Debt Service ratio ( 2 marks) Remember to pay attention to format and presentation. Total Marks /34
