P3-4Income statement preparationAdam and Arin Adams have collected their personal income and expense information and have asked you to put together an income and expense statement for the year ended December 31, 2015. The following information is received from the Adams family.

Income statement preparation Adam and Arin Adams have collected their personal "Income and expense information and have asked you to put together an income and expense statement for the year ended December 31. 2015. The following information is received from the Adams family. Adam?s salary Arin?s salary Interest received Dividends received Auto insurance Home insurance Auto loan payment Mortgage payment Utilities Groceries Medical Property taxes Income tax. Social Security Clothes and accessories Gas and auto repair Entertainment a. Create a personal income and expense statementfor the period ended December 31, 2015. It should be similar to a corporate income statement. b. Did the Adams family have a cash surplus or cash deficit? c. If the result is a surplus, how can the Adams family use that surplus