1. A) What is their net worth?

Balance Sheet
Liquid assets	$5,100
Tangible assets	$34,400
Investment assets	$11,600
Short-term liabilities	$3,700
Long-term liabilities	$25,200
Income Statement
Gross income	$66,700
Taxes paid	$9,300
Debt repayment	$14,700
Rent payment	$4,100
All other expenses	$9,700
Total expenses	$37,800

B) Calculate their liquidity ratio (to two decimal places).

Balance Sheet
Liquid assets	$4,300
Tangible assets	$48,700
Investment assets	$20,300
Short-term liabilities	$3,100
Long-term liabilities	$38,300
Income Statement
Gross income	$52,300
Taxes paid	$6,300
Debt repayment	$4,700
Rent payment	$1,800
All other expenses	$1,400
Total expenses	$14,200

C) Calculate their total tax liability for this year.

Jayna has $97,000 in taxable income this year.
Tax Bracket	Bottom of Bracket	Top of Bracket	Tax Liability for Bracket
11%	$0	$9,800	$1,078
17%	$9,800	$44,800	$5,950
25%	$44,800	$114,800	$17,500
30%	$114,800	$214,800	$30,000
33%	$214,800	$414,800	$66,000
37%	$414,800

D) Calculate their total tax liability for this year

Jonathon has $186,000 in taxable income this year.
Tax Bracket	Bottom of Bracket	Top of Bracket	Tax Liability for Bracket
9%	$0	$9,300	$837
17%	$9,300	$44,300	$5,950
24%	$44,300	$114,300	$16,800
31%	$114,300	$214,300	$31,000
39%	$214,300	$414,300	$78,000
46%	$414,300