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Ruth (31) is your new client. She graduated from GBCfive years ago. Since then, she has worked hard and progressed at her job. Two years ago, she bought a condo and now she finds that money is tight She is looking for your input on her financial position. Below is the financial data she provides for 2020. Incomes and expenses are annual, assets and liabilities are balances on Dec 31, 2020 Chequing Account Saving Account Stock Portfolio GIC (5-year term) Car Loan Employment Income Income Taxes Mortgage payments Food expenses Loan payments Insurance premiums Charitable Donations $3000 RRSP $6000 Condo $18000 Car $7000 Student loan $25000 Line of Credit (Outstanding) $88000 Mortgage Debt $32000 Clothing $17000 Heat $5500 Entertainment $11000 Transportation $3000 Vacation $1000 Property Taxes $21000 $590000 $39000 $21000 $29000 $250000 $2500 $2000 $5000 $4500 $4000 $4500 a) Prepare a complete Net worth Statement (2 marks) b) Prepare a complete Cash flow statement (2 marks) c) Assess fully Ruth's cash flow statement (from b above) (2 marks) d) Calculate and EVALUATE her Emergency Fund Ratio (2 marks) e) Calculate and EVALUATE her savings ratio (2 marks) Calculate and EXPLAIN her Debt Ratio (1 marks) 8) Calculate and EVALUATE her Total Debt Service Ratio (2 marks) h) Identify and justify which expense (5) you recommend she decreases. Ensure you EXPLAIN FULLY your rationale for the expense (s) included (2 marks)