Part A:

use a "made-up" example of a typical household's monthly income statement and balance sheet. And provide a personal balance sheet as of the start of the semester (September) and an income statement representing a one-month period starting at the start of the semester.

Part B:

Calculate the following ratios, showing all of your work:

-Current ratio

-Month's living expenses covered ratio (total liquid assets/monthly total cash outflows)

-Debt ratio

-Long-term debt coverage ratio (income/debt service)

-Savings ratio