Preparing personal income and expense statement. Use Worksheet 2.2. Robyn and Matthew Scott are about to construct their income and expense statement for the year ending December 31, 2020. Robyn works full time while Matthew is finishing up graduate school. They have put together the following income and expense information for 2020: 4. $57,000 Robyn's salary Reimbursement for travel expenses 1,950 Interest on: 110 Savings account 70 Certificates of deposit 4,150 Groceries 9,600 Rent 960 Utilities 650 Gas and auto expenses 13,300 Matthew's tuition, books, and supplies 280 Books, magazines, and periodicals Clothing and other miscellaneous expenses Cost of photographic equipment purchased with charge card Amount paid this year on photographic equipment 2,700 2,200 1,600 1,950 Robyn's travel expenses 9,750 Purchase of a used car (cost) 7,300 Outstanding loan balance on car 4,900 Purchase of bonds in Verizon Communications Inc Using the information provided, prepare an income and expense statement for the Scotts for the vear ending December 31, 2020 (follow the form shown in Worksheet 2.2). 650 82 D C A INCOME AND EXPENSE STATEMENT Robyn & Matthew Scott Namels) AFor the Ended For the Year Income Name Name: Name 57,000.00 8 Wages and salaries Robyn 10 11 Self-ermployment income 12 Bonuses and commissions Investment income 180.00 Interest received Dividends received Rents received Sale of securities Other 14 15 16 17 18 Pensions and annuities 19 Other income 1,950.00 () Total Income 59,130.00 20 21 Expenses 22 Housing Rent/martgage payment tinclude insurance and taxes, if applicable) Repairs, maintenance, improvements 9.600.00 23 24 25 Uies Gas, electric, water Phone 960.00 26 Cable TV and ather Groceries Dining out Auto loan payments 27 28 Food 4,150.00 29 30 Transporation 7,300.00 31 License Gas, oil, repairs, tires, maintenance Health, major medical, disability insurance (eayrall dedutions or not provided by emplayer) Doctor, densist, hospital, medicines Clothes, shoes, and accessories foes 32 650.00 33 Medical 34 35 36 Clothing 2.700.00 ws 02.2 Ready e Type here to search Lenovo Clipboard Font 650 G H D U Total Income 59,130.00 Expenses Housing Rent/mortgage payment Linclude insurance and taxes, if applicable) Repairs, maintenance, improvements Gas, electric, water Phone Cable TV and other Graceries Dining out Auto loan payments License plates, fees, etc. 9,600.00 Utilities 960.00 7 8 Food 4,150.00 29 30 Transportation 7,300.00 31 32 Gas, oil, repairs, tires, maintenance Health, major mnedical, disability insurance (payroll deductions or not provided by employer) Doctor, dentist, hospital, medicines Clothes, shoes, and accessories Homeowner's (if not covered by mortgage payment) Life (not provided by employer) 650.00 33 Medical 34 35 36 Clothing 37 Insurance 2,700.00 38 39 Auto 40 Taxes Income and social security Property (if not included in martgage) 41 42 Appliances, furniture, and other Loan payments 43 major purchases 44 Personal care 45 Recreation and entertainment Purchases and repairs Laundry, cosmetics, hair care Vacations 46 Other recreation and entertainment 47 Other items 1.880.00 48 40 50 51 () Total Expenses S CASH SURPLUS (OR DEFICIT) ((0-() S 27240.00 52 31,890.00 ws 02.2 Ready |