Use the following cash flow statement to answer following questions;

Cash Flow Statement of the Alston Household

Fynn and Eliza Alston for the year ended 31 December 2019

Cash Inflows

Wages and salaries

Fynn Alston $99,000

Eliza Alston $70,200

Bonuses and commissions $12,235

Investment income $1,320

Total cash inflows $182,755

Cash Outflows

Housing $52,200

Utilities $5,090

Food $18,350

Cars $4,520

Medical $2,750

Insurance $1,450

Taxes $16,430

Surplus $81,965

QUESTION 1: While constructing the above cash flow statement for the Alston Household, Eliza Alston forgot to include the amount of cash spent on clothing and footwear. However, she knew that their total assets were $740,200 and their total liabilities were $219,200 as of 31 December 2019. Their net worth at 1 January 2019 was $442,135. Calculate the clothing and footwear expenses for Eliza.

Select one:

a.

$3,100

b.

$4,050

c.

$3,050

d.

$2,750