The Lee Case Study Questions Megan and Kevin Lee--The Newlyweds Megan and Kevin Lee would like your help in starting their financial plan. Review Megan and Kevin' s financial and personal information before answering the following questions. 1. Using the January 1, 2002 asset and liability information, develop a balance sheet for Megan and Kevin Lee. Assume they have no unpaid bills. What is the Lee' s net worth? HINT: Total Assets = $80,905. 2. Using the income and expenditure information for 2001, complete an income and expenses statement for Megan and Kevin. Use the "cash flow" concept for this financial statement including all money inflows as income and all outflows as expenditures. Did Megan and Kevin have a cash surplus or a cash deficit in 2001? HINT: $9,292 is the amount for either the surplus or deficit 3. Based on Megan and Kevin' s financial statements, calculate the following ratios: 1. Basic Liquidity Ratio 2. Debt-to-Asset Ratio 3. Savings Rate Provide analysis of each calculation in terms for what it means for Megan and Kevin. 4. Based on the information in the original case, from Megan and Kevin' s financial statements, and from the ratios, list at least 3 positive and 3 negative aspects of the Lee