Money! Ilanagemell strategy: Financial statements and Budgeting Jamie Lee, age 25, Nowa busy fulltime college student and part-time baker clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income toward salings, which, which includes accumulating enough money Poward the & 9,000 down payment she needs to achieve her dream and open a cupcake cafe. Samie Lee has been making regular deposits to her regular and emergency Saving's account. She would really like to sit down and get a clearer picture of how much she is spending on Various expenses, including rent utilities and entertainment, and how her debt compares to her Savings and assets. She realizes that she must stay on track and keep a detailed budget se she is forealize her dream of beiny Self-employed after colleg graduation.. Current Financial Situation. Assets: Chiaccount: 81250 Liabilities Emergency funds from Student Loan: $ 5400 Saving account: $3100 Credit Card balance $400 Car: $4006 Income: Gross mothly Savings: Salary: $21.26 Regular Savings: $150 Net Monthly salary: $1,560 Rainy day Savings: $25 Monthly Expenses: Rent obligations: $275 Utilities obligations: $125 Foodi $120 Gasmaintenance : $106 Credit Card payments: $50 Entertainment: cake decorating class: $35 movies with friends: $50 PO According to the text lapersonal Balance Sheet is a statement of your Networth. It is all accounting of what you OWN AS Well as what you owe. Use theinformation provide prepare a personal balance Sheet for Jamie Leer in 2 Using the table, found in Ratios for Evaluating, Financial Hogress. What is Jamie Lee's deftratio? When comparing Jamie Lee's liabilities and her Netwo is the relationship afavorable one? (3) Using, the table found in Ratios for Evaluating Financial Progress what is Iamies savinus ratio. Using the Rule of thumb recommended by financial experts, is she saving enough? (4) Using Exhibit 3-8, Typical After-Tax Budget Allocations for Different Life Situation Si calculato the budget allocations for Jamie Lee, using he Net monthly salary for after-tax salary Is she within the recommended parameters for astudent