Advise the Williams Family The Williams household has compiled the following financial information: They rent a house in a nicer neighborhood for $1,300/month +$150 utilities They estimate that they are spending $400 per month on groceries and $1,000 per month on eating out. They own some land and use it to sell hay and timber. This amounts to an average of $1,000 per month They also have a car (valued at $8,000, with loan balance of $11,870, monthly payments of $315), a clunker (valued at $975), and a 4-wheeler (valued at $800, with loan balance of $1,210, monthly payments of $153) Their garden yields roughly $500 of produce per month that they sell They inherited some antique farm equipment that is worth $1,300. Their credit card debt totals $7,000 with monthly payments of $285. Health insurance costs them around $407 per month Checking account has $2,500 on average; savings account has $13,700. Their combined retirement accounts have $121,009. Their total monthly salary is $4,800. They have life insurance ($130), car insurance ($167), and renter's insurance ($45). They give around $260 per month to charity, spend $150 per month on clothes, and use $320 on entertainment A. Use the balance sheet below to compile the data and calculate total income, total spending and net cash flow. Income/Cash Inflow Cash Outflows Item A mount Item Amount D Total Income: Total Spending Net Cash flow: B. Create a SWOT analysis for the family based on the list of financial information. You can use the matrix below to help you sort the factors. Internal Factors Strengths External Factors Opportunities Weaknesses Threats C. Post in the forum your answers to the following questions: 1. What is the Williams household's total income, total spending, and net cash flow? 2. According to your SWOT analysis, what are the family's Strengths, Weaknesses, Opportunities and Threats? 3. What financial advice would you give this household? 4. If you could ask the family three additional questions to get a better picture of their situation - and help determine what advice you gave - what would you want to know