Use the following data to answers Questions 1 through 5: Monthly expenses = $4,000 Monthly gross income (after taxes) = $5,500 Savings Account Value = $6,000 Total Assets (excluding house) = $120,000 Total Liabilities (excluding mortgage) = $20,000 Question 1 (2 points) Calculate the annual Net Income for this individual. $1,500 $18,000 $24,000 $100,000 None of the above. Question 2 (2 points) Calculate the Basic Liquidity Ratio for this individual. 0.3 1.1 1.5 30.0 None of the above