st edit was seconds ago 5 BIU A 1 E. E. E * Read the following and answer the questions below: Jamie Lee Jackson, age 24, a busy full-time college student and part-time bakery clerk, has been trying to organize all of her priorities, including her budget. She has been wondering if she is allocating enough of her income toward savings, which includes accumulating enough money toward the $9,000 down payment she needs to open her dream cupcake caf. Jamie Lee has been making regular deposits to both her regular and her emergency savings accounts. She would really like to sit down and get a clearer picture of how much she is spending on various expenses, including rent, utilities, and entertainment, and how her debt compares to her savings and assets. She realizes that she must stay on track and keep a detailed budget if she is to realize her dream of being self-employed after college graduation Current Financial Situation Assets: Checking account: $1,250 Emergency fund savings account: $3,100 Car: $4,000 Liabilities: Student loan: $5,400 Credit card balance: $400 Income: Gross monthly salary: $2,125 Net monthly salary: $1,560 Monthly Expenses: Rent obligation: $275 MacBook Air t was seconds ago BI VA OD EIE EE-EEX 1 2. 4 5 Utilities obligation: $125 Food: $120 Gas/Maintenance: $100 Credit card payment: $50 Savings: Regular savings: $150 Emergency savings: $25 Entertainment: Cake decorating class: $35 Movies with friends: $50 QUESTIONS: Calculate the following and comment if they are within prescribed limits: 1) Emergency Fund Ratio 2)Current Ratio, 3) Net Worth 4) Housing Ratio 1 and 2 5) Debt to Total Assets (A) and Net worth to Total Assets (B). What do you get when you add A and B? 6)Savings Ratio