need help with all boxes. Will leave a thumbs up!

Surprise! Jamie Lee and Ross were stunned to find that their family of two has grown to a family of five! They were expecting twins, but when the babies were bom, they discovered that they were actually the parents of triplets! Ross immediately had worries of being able to provide for the growing family diapers, formula, college expenses times threel What if something happened to him or Jamie Lee? How would the surviving parent be able to provide for such a large family? Jamie Lee and Ross decided to purchase life insurance for Ross because his is the higher income at this time and because it would be more devastating if his income was lost due to his death. They have allowed $8,900 for funeral costs Calculate their living expenses for 6 months to include all monthly expenses, excluding credit card debt and entertainment. Note that Ross's mother lives close and will be providing childcare to their triplets once Jamie Lee goes back to work at the bakery for half days. His mom will have a hired nanny to assist, which will cost them $1,400 a month. Use the table below to determine the amount Jamie Lee and Ross should use when shopping for life insurance. Each answer must have a value for the assignment to be complete Enter *O* for any unused categories Current Financial Situation Assets Income: Checking account $3,400 Gross Income (Jamie Lee) $54.000 Savings account $16.900 Net Income after taxes (Jamie Lee) $37,800 Emergency fund savings account $20.000 Gross income (Ross) $78,000 IRA balance $25,900 Net income after taxes (Ross) 564700 Car (Jamie Lee) $12.400 Monthly Expenses Car (Ross) $19.900 Mortgage $1,360 Liabilities: Property taxes $490 Student loan balance $0 Homeowners Insurance $290 Credit card balance $4,400 Utilities $205 Car loans $7.900 Food $545 Gas/maintenance $320 Credit card payment $320 Carloan payment $298 Entertainment $170 Emergency fund savings account $78,000 $64.700 IRA balance Car (Jamie Lee) Car (Ross) Liabilities: $20.000 Gross income (Ross) $25,900 Net income after taxes (Ross) $12,400 Monthly Expenses: $19,900 Mortgage Property taxes $0 Homeowners insurance $4,400 Utilities $7.900 Food Gas/maintenance Credit card payment Car loan payment Entertainment $1,360 $490 $290 $205 Student loan balance Credit card balance Car loans $545 $320 $320 $298 $170 [2] Use the "family need" method to complete 1. Yearly income x 5 2. Total approximate expenses above and beyond your daily living costs for you and your dependents (eg tutition, care for disabled child or parent) 3. Emergency fund needed (6 months of living expenses) 4 Expected funeral expenses 5. Total estimate of family's financial needs (sum of lines 1- 4) [3] 151 6. Total liquid assets (eg savings account, CDs money market funds, other life insurance pension plan death benefits, and Social Security benefits) [6] 7. Life insurance needs (total estimate of needs minus liquid assets) 10