You are reviewing a friend's financial data that includes assets, liabilities, income, and expenses (on the next page). Your friend would like you to look at their data and prepare:

1. Balance Sheet (Statement of Net Worth)

2. Income Statement (Cash Flow Statement)

3. Ratio Analysis

a. Current Ratio

b. Emergency Ratio

c. Housing Ratio 1 and 2

d. Savings Ratio

When creating the balance sheet and income statements for your friend, you will need to use the same formatting found on the slides from chapter 2. Please also show all calculations for the ratios and explain if each is positive or negative and why. If you are feeling like really helping your friend then consider adding 2-3 graphs to help explain their situation.

You will upload the excel spreadsheet in My Leo Online. Do not use any other program such as Pages for Mac or Google Spreadsheets. You MUST use excel formulas.

THE DATA BELOW IS FROM Dec 31st 2018

Mortgage Balance $220,500

Chevrolet Silverado Truck $25,000

Contributions to IRA - M $500

IRA Account Balance $115,000

Boat $25,000

Child Care Expense - M $500

Contributions to 401(k) - M $500

ABC Credit Card Payment - M $350

Checking Account Balance $7,000

Chevrolet Silverado Truck Loan Balance $25,000

House Value $350,000

401(k) Account Balance $250,000

Boat Loan $10,000

Gross Salary 1 - M $5,500

Contributions to Savings Acct - M $100

Jewelry $10,000

Roth IRA Account Balance $55,000

Toyota Prius $25,000

Utilities - M $500

CD (6 month) $4,000

Boat Payment - M $300

Lawn Service - M $50

Mutual Funds $220,000

Student Loan Balance $35,000

Gas for Cars - M $250

CD (3 months) $1,000

Savings Account Balance $2,500

ABC Credit Card Balance $6,500

Gross Salary 2 - M $4,000

Student Loan Payment - M $300

CD (14 months) $3,000

Mortgage Payment - PITI - M $1,200

Groceries - M $550

Car Insurance Payment - M $300

Payroll and Income Taxes - M $3,200

Chevrolet Silverado Truck Payment - M $350

Mortgage Payment (PITI) - M 1, 550