Given the following, calculate the GDS ratio All income and expense items are annual Gross income $55,000 Bank account $1,000 Net income $38,000 Property taxes $3,600 Heating $4,800 Annual car payment $4,200 Credit card balance $2,500 Car loan balance $10,000 Student loan payments $2,400 Mortgage p...

To calculate the Gross Debt Service GDS ratio you need to sum up all housingrelated expe ...

Given the following, calculate the GDS ratio. All income and expense items are annual. Gross income $55,000

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Given the following, calculate the GDS ratio. All income and expense items are annual.

Gross income	$55,000	Bank account	$1,000
Net income	$38,000	Property taxes	$3,600
Heating	$4,800	Annual car payment	$4,200
Credit card balance	$2,500	Car loan balance	$10,000
Student loan payments	$2,400	Mortgage payments	$15,600

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College Accounting A Practical Approach

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Authors: Jeffrey Slater, Brian Zwicker

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Given the following, calculate the GDS ratio. All income and expense items are annual. Gross income $55,000

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