please help with all parts of questions 1-8

from creating the balance sheet and income statement... to calculating the ratios, interpreting those ratios , and whether or not she can achieve her goals.

i really neee help with every question and what you did to achieve the answers to those questions please!

below is explaining the information about the case

Below are the 8 questions that need to be answered

below is information about her expenses , assets, income, liabilities, etc

DAWSON CASE STUDY Spring 2019 engineer for a defense contractor. She has been single for 5 years after the death of her husband, Leah Daws on is a young single mother living in Dallas, Texas. At age 29, she is working as an im. Leah and Tim had a son, John, age 7, who lives with Leah. Leah fell in love with Dallas while attending college and plans to remain there until retirement. Leah has also been dating a man, Tim, for the past three years, and they are beginning to talk about marriage. Recently, a couple of Leah's friends have had some negative experiences (one lost her job and another's parent suffered a debilitating stroke), which have caused Leah to take a closer look at her own financial management. Leah and Tim have not really discussed their finances, but Leah is sometimes irritated by the way Tim "pinches pennies." Tim will not buy anything unless it is marked down, and he always shops for the best prices. Leah does not understand this behavior because she knows she makes more money and has fewer bills than he does. Leah likes to spend money and she gets pleasure from buying John and Tim gifts. Leah likes to stay in shape by surfing. She travels a few times a year to various places to compete surfing events. Despite a successful career and much to Leah's chagrin, she has accumulated quite a bit of debt and has had difficulty meeting more than the required monthly payments. This is especially true in regard to the credit card she charged with new surfing equipment. Although she has debt, her grandmother passed away 2 months ago and Leah will be receiving an inheritance from her grandmother's estate of $50,000 Leah has several goals. She feels that she should reduce her debt and establish an adequate emergency fund to be better financially prepared. Leah also wants to purchase a house since her current apartment is too small. Leah currently does not save regularly for retirement and she does not know much about investments. The money she has invested has mostly come from employer bonuses. She feels that she has plenty of time to save for retirement and plans to start saving in about five years. She doesn't feel this will make a significant difference in the amount of money he needs to save Motivated by financial concerns, Leah attended a financial seminar at her local bank. She received data gathering forms at the seminar and has filled them out as completely as possible. These forms are presented on the following pages. Read the information Leah has provided so that you can "get acquainted" with her. As you first read the case, you probably will not understand all of the vocabulary or why certain information is included. But remember, this is just the first part of the case. In a few weeks, Leah as well as her financial data will be very familiar to you and you will feel comfortable with this material Submissions will be graded for accuracy and formatting. Leah Dawson would like your help in starting her financial plan. Review her financial and personal information before answering the following questions Using the January 1, 2019 asset and liability information, develop a balance sheet for Leah Dawson. Assume Leah has no unpaid bills. Assets on a balance sheet should be listed at the current fair market value, not the purchase price. Liabilities are listed at the current outstanding balance. What is her net worth? 1. 2. Using Excel, create a Balance Sheet Pie Chart for Leah similar to the one on page 76 of the textbook 3. Using the income and expenditure information for 2018, complete a statement of income and expenses (income statement) for Leah. Date the statement January through December of 2018. Did Leah have a cash surplus or a cash deficit in 2018? What impact would the 2018 cash surplus (deficit) have on her January 1, 2019 balance sheet? 4. Using Excel, create an Income Statement Pie Chart for Leah similar to the one on page 73 of the textbook 5. Based on Leah's financial statements constructed in questions 1 and 2, calculate the following ratios: - Emergency Fund ratio -Debt to Total Assets Ratio Net worth to Total Assets Ratio - Savings Ratio See your textbook and/or chapter 3 notes for guidance on what to include when calculating the financial ratios. Based on the information in the original case, the financial statements, and the ratios that you calculated, list and explain at least 3 positive and 3 negative aspects of Leah's current financial status. 6. fter reading the text and class notes, you now probably realize that Leah's financial goals are not defined well nough in the original case to serve as the basis for her financial plan and cash budget. Upon further discussion she has restated her financial goals as follows: 1. To pay offall of her credit card balances by immediately taking out a debt consolidation loan large enough to pay offall outstanding balances, and then making monthly payments over the next 3 years to pay off the consolidation loan. have a total of $15,000 accumulated in her money market account in 3 years to be used as her emergency fund. She currently has $4,758 accumulated. She will do this by making monthly payments over the next 3 years. 3. To save $6,000 for the down payment on a new car in 3 years. She will do this by making monthly 4. To contribute 8% of her gross salary to her 401(k) plan for retirement. payments over the next 3 years. 7. How much would Leah have to commit per month to be on track in mecting these goals? Pay off her credit cards Fund her emergency fund (remember she already has some money in a money market account) Down payment on the new car 1. 2. 3. Assume Leah can earn 1.0% after taxes on her emergency fund and car goals. Remember to label the commitment for each goal and add the required sums for each goal together to find the TOTAL MONTHLY CASH required to meet her goals. Can Leah achieve all of her stated goals considering her current income and expenditure pattern? List specific recommendations you would make to help her achieve her goals. 8. tak LOCATION OF DOCUMENTS Compass Bank safe deposit box Group policies through employers. Information Wills Trusts Life Insurance booklets on file at home Health Group policies through Sarah's employer Information booklets on file at home DisabilityInformation about group policies through employer on file at home. Auto Renter's Policies on file at home Policies on file at home Title to car Compass Bank safe deposit box Birth&Stock Compass Bank safe deposit box Deeds Certificates RETIREMENT INFORMATION Person Covered Leah 401(k) plan. Employer contributes 50c for each $1.00 of employee contribution. Employee contributions eligible for matching are limited to 8% of base salary 7-year graded vesting schedule (increasing 20% a year and Type of pension plan Vesting beginning in the third year) Beneficiary Other plans available Current Value Contributions None N/A S 52,785 Leah maximizes her contributions m/ ASSETS-January 1, 2019 MATURITY RATE OF INTEREST LOCATION BALANCE 0.6% 1.1% N/A N/A I Compass Bank I s 1,123 CHECKING SAVINGS Wells Fargo $2,175 Bank 1.25% N/A American State $4,758 Bank MONEY MARKET ACCOUNT CDS | E-Trade Bank -1,000 1.9% 1 2.25% 5/1/2017 5/1/2016 E-Trade Bank $7,000 CASH ON HAND S502 SECURITY INVESTMENTS Security Current Value Cost of Basis Date Acquired Share Shares Per Total Per Total 200 Bank of America Corp, (BAC) 5/1997 12.44 2,488 15.87 150 Verizon Communications Ins. (VZ) 3/2009 33.58 5,037 45.33 50 Apple Inc. (AAPL) 57.86 2,893 250 Vanguard Mid-Cap ETF (VO) 12/2014 5 109.90 8/2010 75.87 18,967 120.88 AUTOMOBILE(S) YearMake 2016 Model Malibu Current Value $12,450 Chevy $20,000 REAL &PERSONAL PROPERTY Mae Vale Replacement Value Furniture and Stereo and TVs Clothing and Jewelry Computers, printer, etc. Exercise Equipment $ 33,000 15,750 $ 3,750 S 9,500 S 5,000 S 62,000 $ 24,000 S 5,250 S 14,100 $ 7,000 Miscellaneous household items LIABILITIES Original-Property or-Tnterest T Current Payment TH wTTotal#or Date of Towhom Rate Balance Amount often Payments First Amount Service of Account owed paid 556.98 Monthly 120 1$380.64 | Monthly | 60 Payment 9/30/2009 1/31/2016 Purchased Texas A&M | 53,000 | Education Credit Union Wells Fargo 120,000 | Malibu Texas A&M2,850 Debt Credit Union | 4.8% is 15.35% is 3/30/2017 10.35% $61.05 Monthly60 Consolidation Calculate the amounts that are missing using TVM calculations. Credit Cards-January 1, 2019 Annual Interest Credit Outstanding Min. Grace Calculation Fee Rate Limit Balance Payment Period Method | Av. Daily Texaco |1765421| $0 | l.996 | $1,500 20% of | Balance or $50 5%of Balance or $25 5% of | Balance or $25 10% of | Balance or $20 $237 yes 1755 Balance Master |421246 | $40 | 20.75% | $15,000 | $3,245 Card11232 2-cycle Av Daily yes | 2418178| $0 | 13.15%| $5,000 1554 Balance Av. Daily Balance Visa $0 yes | Dillard's 1284661 $0 | 20.0% | $1,000 $695 | 2-cycle Av. Daily yes 76337 ital 1626- -$35 25.1% -$25,500| $8,486 | 3%of -2-cycle Av No One 5512 Balance or $40 Daily Balance 2018 INCOME Gross Income Leah's Salary Cash gifts Interest Dividends Capital gains distributions Sale of Securities: $102,500 1,975 482 76 349 Fidelity Magellan Fund (FMAGX) 8,229 1. Checking ($22 a year, paid monthly), savings ($24 a year, paid quarterly), money market account ($69 a year, paid monthly), Etrade bank CDs ($367 a year, paid in May). 2. Bank of America ($30 a year) and Verizon ($46 a year). 3. Vanguard Mid-Cap ETF fund ($349 a year) Distributions paid quarterly in March, June, September and December. 4. 100 shares purchased May 16, 2012 at $56.41/share and sold March 20, 2018 at $82.29/share. 2018 EXPENSES Cash Flow Cash Flow Monthly Annually Rent Utilities Telephone Cable TV and Internet Groceries Food away from home [discretionary) Education loan payments Auto loan payment (Malibu) Consolidation loan payment Auto maintenance (gas, repairs, etc.) Medical/dental expenses (not covered by insurance) Health insurance premiums for John 1,075 125 87 16 260 160 557 12,900 1,500 1,044 1.980 3,120 1,920 6,684 180 2,160 50 600 see insurance information Auto insurance (paid semi-annually) see insurance information Renter's insurance see insurance information Federal Income Tax withholding (estimated at 15%) Social Security Tax withholding Contributions to 401(k) pension Minimum Payments on MasterCard Minimum Payments on Capital One Card Clothing [discretionary] Personal Care (non-discretionary) Appliance, Furniture and Equipment Entertainment [discretionary] Vacations (surfing trips) (discretionary] Surfing equipment [discretionary] Charitable contributions [non-discretionary 15,375 7,842 8,200 6,744 7358,820 562 230 2,760 1,320 1,725 5,400 300 3,600 70 840 450 125 1,500 believes strongly in "giving back" Tuition for after-school child care [discretionary- because if unemployed, doesn't need] 0 6,060 Babysitting [non-discretionary-still needs if unemployed to interview for jobs] Gifts [non-discretionary] Reinvested Interest Dividends and Capital Gains 1,380 600 115 50 65 INSURANCE INFORMATION AUTO INSURANCE Chevy Malibu Insure Auto 134-234-456-AOB6 25/50/25 Co Policy Number Uninsured Motorist Collision 25/50/25 Actual Cash Value $250 Actual Cash Value $100 975 Paid semi-annually Deductible Comprehensive Deductible Annual Premium Comments RENTER'S INSURANCE Insured Type of Life Insurance Coverage Amount Owner Annual premium Leah State Farm $40,000 Leah LIFE INSURANCE Leah Group Term Covenant Medical Group 100,000 None Leah Insured Type of Life Insurance Face Amount Beneficiary Owner Annual premium Paid by employer DISABILITY INSURANCE Insured Leah Policy number Definition of Disability Employer Group Policy Own Occupation for 2 years, any educationally suited after 2 years 60% of gross monthly income 30 days Monthly Benefit Waiting Period Sick Benefit Period Sick Premiums Accident 30 days o 5 years Accident 5 years Paid by employer INSURANCE Leah & John First Care HMO General Provisions Premium $145 Calendar year deductible Out-of-pocket coinsurance maximum $15,000 unlimited Lifetime maximum benefit Benefit Description Routine physicals Physicians office visit Specialist office visit Diagnostic tests including x-rays Hospital Services Emergency care Inpatient hospital Outpatient facilities Prescription Drug Generie Drugs Preferred Name Brand Drugs Premiums Monthly Premium for Employee $40 $30 $40 S0 $100 S100/day S100 $25 $50 Monthly Premiums for Employee and Child $0 $130 ESTATE PLANNING INFORMATION Leah would like to leave all of her assets to John and leave him debt free in case of death. ea would like her half-brother, Gerald Smart, to be John's legal guardian. Leah has no will or formal estate plan. DAWSON CASE STUDY Spring 2019 engineer for a defense contractor. She has been single for 5 years after the death of her husband, Leah Daws on is a young single mother living in Dallas, Texas. At age 29, she is working as an im. Leah and Tim had a son, John, age 7, who lives with Leah. Leah fell in love with Dallas while attending college and plans to remain there until retirement. Leah has also been dating a man, Tim, for the past three years, and they are beginning to talk about marriage. Recently, a couple of Leah's friends have had some negative experiences (one lost her job and another's parent suffered a debilitating stroke), which have caused Leah to take a closer look at her own financial management. Leah and Tim have not really discussed their finances, but Leah is sometimes irritated by the way Tim "pinches pennies." Tim will not buy anything unless it is marked down, and he always shops for the best prices. Leah does not understand this behavior because she knows she makes more money and has fewer bills than he does. Leah likes to spend money and she gets pleasure from buying John and Tim gifts. Leah likes to stay in shape by surfing. She travels a few times a year to various places to compete surfing events. Despite a successful career and much to Leah's chagrin, she has accumulated quite a bit of debt and has had difficulty meeting more than the required monthly payments. This is especially true in regard to the credit card she charged with new surfing equipment. Although she has debt, her grandmother passed away 2 months ago and Leah will be receiving an inheritance from her grandmother's estate of $50,000 Leah has several goals. She feels that she should reduce her debt and establish an adequate emergency fund to be better financially prepared. Leah also wants to purchase a house since her current apartment is too small. Leah currently does not save regularly for retirement and she does not know much about investments. The money she has invested has mostly come from employer bonuses. She feels that she has plenty of time to save for retirement and plans to start saving in about five years. She doesn't feel this will make a significant difference in the amount of money he needs to save Motivated by financial concerns, Leah attended a financial seminar at her local bank. She received data gathering forms at the seminar and has filled them out as completely as possible. These forms are presented on the following pages. Read the information Leah has provided so that you can "get acquainted" with her. As you first read the case, you probably will not understand all of the vocabulary or why certain information is included. But remember, this is just the first part of the case. In a few weeks, Leah as well as her financial data will be very familiar to you and you will feel comfortable with this material Submissions will be graded for accuracy and formatting. Leah Dawson would like your help in starting her financial plan. Review her financial and personal information before answering the following questions Using the January 1, 2019 asset and liability information, develop a balance sheet for Leah Dawson. Assume Leah has no unpaid bills. Assets on a balance sheet should be listed at the current fair market value, not the purchase price. Liabilities are listed at the current outstanding balance. What is her net worth? 1. 2. Using Excel, create a Balance Sheet Pie Chart for Leah similar to the one on page 76 of the textbook 3. Using the income and expenditure information for 2018, complete a statement of income and expenses (income statement) for Leah. Date the statement January through December of 2018. Did Leah have a cash surplus or a cash deficit in 2018? What impact would the 2018 cash surplus (deficit) have on her January 1, 2019 balance sheet? 4. Using Excel, create an Income Statement Pie Chart for Leah similar to the one on page 73 of the textbook 5. Based on Leah's financial statements constructed in questions 1 and 2, calculate the following ratios: - Emergency Fund ratio -Debt to Total Assets Ratio Net worth to Total Assets Ratio - Savings Ratio See your textbook and/or chapter 3 notes for guidance on what to include when calculating the financial ratios. Based on the information in the original case, the financial statements, and the ratios that you calculated, list and explain at least 3 positive and 3 negative aspects of Leah's current financial status. 6. fter reading the text and class notes, you now probably realize that Leah's financial goals are not defined well nough in the original case to serve as the basis for her financial plan and cash budget. Upon further discussion she has restated her financial goals as follows: 1. To pay offall of her credit card balances by immediately taking out a debt consolidation loan large enough to pay offall outstanding balances, and then making monthly payments over the next 3 years to pay off the consolidation loan. have a total of $15,000 accumulated in her money market account in 3 years to be used as her emergency fund. She currently has $4,758 accumulated. She will do this by making monthly payments over the next 3 years. 3. To save $6,000 for the down payment on a new car in 3 years. She will do this by making monthly 4. To contribute 8% of her gross salary to her 401(k) plan for retirement. payments over the next 3 years. 7. How much would Leah have to commit per month to be on track in mecting these goals? Pay off her credit cards Fund her emergency fund (remember she already has some money in a money market account) Down payment on the new car 1. 2. 3. Assume Leah can earn 1.0% after taxes on her emergency fund and car goals. Remember to label the commitment for each goal and add the required sums for each goal together to find the TOTAL MONTHLY CASH required to meet her goals. Can Leah achieve all of her stated goals considering her current income and expenditure pattern? List specific recommendations you would make to help her achieve her goals. 8. tak LOCATION OF DOCUMENTS Compass Bank safe deposit box Group policies through employers. Information Wills Trusts Life Insurance booklets on file at home Health Group policies through Sarah's employer Information booklets on file at home DisabilityInformation about group policies through employer on file at home. Auto Renter's Policies on file at home Policies on file at home Title to car Compass Bank safe deposit box Birth&Stock Compass Bank safe deposit box Deeds Certificates RETIREMENT INFORMATION Person Covered Leah 401(k) plan. Employer contributes 50c for each $1.00 of employee contribution. Employee contributions eligible for matching are limited to 8% of base salary 7-year graded vesting schedule (increasing 20% a year and Type of pension plan Vesting beginning in the third year) Beneficiary Other plans available Current Value Contributions None N/A S 52,785 Leah maximizes her contributions m/ ASSETS-January 1, 2019 MATURITY RATE OF INTEREST LOCATION BALANCE 0.6% 1.1% N/A N/A I Compass Bank I s 1,123 CHECKING SAVINGS Wells Fargo $2,175 Bank 1.25% N/A American State $4,758 Bank MONEY MARKET ACCOUNT CDS | E-Trade Bank -1,000 1.9% 1 2.25% 5/1/2017 5/1/2016 E-Trade Bank $7,000 CASH ON HAND S502 SECURITY INVESTMENTS Security Current Value Cost of Basis Date Acquired Share Shares Per Total Per Total 200 Bank of America Corp, (BAC) 5/1997 12.44 2,488 15.87 150 Verizon Communications Ins. (VZ) 3/2009 33.58 5,037 45.33 50 Apple Inc. (AAPL) 57.86 2,893 250 Vanguard Mid-Cap ETF (VO) 12/2014 5 109.90 8/2010 75.87 18,967 120.88 AUTOMOBILE(S) YearMake 2016 Model Malibu Current Value $12,450 Chevy $20,000 REAL &PERSONAL PROPERTY Mae Vale Replacement Value Furniture and Stereo and TVs Clothing and Jewelry Computers, printer, etc. Exercise Equipment $ 33,000 15,750 $ 3,750 S 9,500 S 5,000 S 62,000 $ 24,000 S 5,250 S 14,100 $ 7,000 Miscellaneous household items LIABILITIES Original-Property or-Tnterest T Current Payment TH wTTotal#or Date of Towhom Rate Balance Amount often Payments First Amount Service of Account owed paid 556.98 Monthly 120 1$380.64 | Monthly | 60 Payment 9/30/2009 1/31/2016 Purchased Texas A&M | 53,000 | Education Credit Union Wells Fargo 120,000 | Malibu Texas A&M2,850 Debt Credit Union | 4.8% is 15.35% is 3/30/2017 10.35% $61.05 Monthly60 Consolidation Calculate the amounts that are missing using TVM calculations. Credit Cards-January 1, 2019 Annual Interest Credit Outstanding Min. Grace Calculation Fee Rate Limit Balance Payment Period Method | Av. Daily Texaco |1765421| $0 | l.996 | $1,500 20% of | Balance or $50 5%of Balance or $25 5% of | Balance or $25 10% of | Balance or $20 $237 yes 1755 Balance Master |421246 | $40 | 20.75% | $15,000 | $3,245 Card11232 2-cycle Av Daily yes | 2418178| $0 | 13.15%| $5,000 1554 Balance Av. Daily Balance Visa $0 yes | Dillard's 1284661 $0 | 20.0% | $1,000 $695 | 2-cycle Av. Daily yes 76337 ital 1626- -$35 25.1% -$25,500| $8,486 | 3%of -2-cycle Av No One 5512 Balance or $40 Daily Balance 2018 INCOME Gross Income Leah's Salary Cash gifts Interest Dividends Capital gains distributions Sale of Securities: $102,500 1,975 482 76 349 Fidelity Magellan Fund (FMAGX) 8,229 1. Checking ($22 a year, paid monthly), savings ($24 a year, paid quarterly), money market account ($69 a year, paid monthly), Etrade bank CDs ($367 a year, paid in May). 2. Bank of America ($30 a year) and Verizon ($46 a year). 3. Vanguard Mid-Cap ETF fund ($349 a year) Distributions paid quarterly in March, June, September and December. 4. 100 shares purchased May 16, 2012 at $56.41/share and sold March 20, 2018 at $82.29/share. 2018 EXPENSES Cash Flow Cash Flow Monthly Annually Rent Utilities Telephone Cable TV and Internet Groceries Food away from home [discretionary) Education loan payments Auto loan payment (Malibu) Consolidation loan payment Auto maintenance (gas, repairs, etc.) Medical/dental expenses (not covered by insurance) Health insurance premiums for John 1,075 125 87 16 260 160 557 12,900 1,500 1,044 1.980 3,120 1,920 6,684 180 2,160 50 600 see insurance information Auto insurance (paid semi-annually) see insurance information Renter's insurance see insurance information Federal Income Tax withholding (estimated at 15%) Social Security Tax withholding Contributions to 401(k) pension Minimum Payments on MasterCard Minimum Payments on Capital One Card Clothing [discretionary] Personal Care (non-discretionary) Appliance, Furniture and Equipment Entertainment [discretionary] Vacations (surfing trips) (discretionary] Surfing equipment [discretionary] Charitable contributions [non-discretionary 15,375 7,842 8,200 6,744 7358,820 562 230 2,760 1,320 1,725 5,400 300 3,600 70 840 450 125 1,500 believes strongly in "giving back" Tuition for after-school child care [discretionary- because if unemployed, doesn't need] 0 6,060 Babysitting [non-discretionary-still needs if unemployed to interview for jobs] Gifts [non-discretionary] Reinvested Interest Dividends and Capital Gains 1,380 600 115 50 65 INSURANCE INFORMATION AUTO INSURANCE Chevy Malibu Insure Auto 134-234-456-AOB6 25/50/25 Co Policy Number Uninsured Motorist Collision 25/50/25 Actual Cash Value $250 Actual Cash Value $100 975 Paid semi-annually Deductible Comprehensive Deductible Annual Premium Comments RENTER'S INSURANCE Insured Type of Life Insurance Coverage Amount Owner Annual premium Leah State Farm $40,000 Leah LIFE INSURANCE Leah Group Term Covenant Medical Group 100,000 None Leah Insured Type of Life Insurance Face Amount Beneficiary Owner Annual premium Paid by employer DISABILITY INSURANCE Insured Leah Policy number Definition of Disability Employer Group Policy Own Occupation for 2 years, any educationally suited after 2 years 60% of gross monthly income 30 days Monthly Benefit Waiting Period Sick Benefit Period Sick Premiums Accident 30 days o 5 years Accident 5 years Paid by employer INSURANCE Leah & John First Care HMO General Provisions Premium $145 Calendar year deductible Out-of-pocket coinsurance maximum $15,000 unlimited Lifetime maximum benefit Benefit Description Routine physicals Physicians office visit Specialist office visit Diagnostic tests including x-rays Hospital Services Emergency care Inpatient hospital Outpatient facilities Prescription Drug Generie Drugs Preferred Name Brand Drugs Premiums Monthly Premium for Employee $40 $30 $40 S0 $100 S100/day S100 $25 $50 Monthly Premiums for Employee and Child $0 $130 ESTATE PLANNING INFORMATION Leah would like to leave all of her assets to John and leave him debt free in case of death. ea would like her half-brother, Gerald Smart, to be John's legal guardian. Leah has no will or formal estate plan