03: Assignment Financial Statements, Tools, and Budgets Skip and Jackie Parker have been married for two years. They have been trying to save but feel that there is never anything leftover after expenses... Jackie is taking a night course on personal finance, and she suggested that they prepare a cash-flow statement for the year ended December 31, 2016. Use the worksheet that Skip and Jackie provided plus the additional information to fill in the missing amounts on the Parker's cash-flow statement for the year ended December 31, 2016. (Note: Round percentages to one decimal place, and dollar amounts to the nearest whole dollar. If your answer is negative, use a minus sign.) Skip and Jackie put together the following worksheet. Cash received & income taxes: Cash payments: Skip's salary $26,500 Rent $1,332 Jackie's salary 25,175 School Loan 113 Skip's bonus 3,975. Train pass (year) 900 Apple dividend 23 Car loan payment 315 Savings interest 19 Auto insurance (year) 225 Income taxes:. Skip 4,770 Puget Sound Energy Vonage 150 71 Jackie 4,532 Here is some additional information: For income items, they know yearly amounts. For some expenses, they know the annual amount (for example, Jackie's annual commuter-train pass). They listed those amounts and noted them as such. Unfortunately, for other expenses, they provided the payment they made last month, stating that the amount doesn't change much from month to month. Based on their employer-provided health insurance, they incur a copay of $30 per visit. They estimated that they saw the doctor (combined) 6 times during the year. Skip estimated that he spends about $60 a week on gas and maintenance for their two cars, and he takes out $100 for spending money every week. Jackie estimated that she spends about $100 a week on groceries and $150 a month on clothing. She never has cash and uses her credit cards for everything. They went on a Disney Cruise that cost $2,200; they took an additional $500 for spending. That was their only vacation. Name: Skip and Jackie Parker Date: For the year ended December 31, 2016 INCOME Skip's salary Jackie's salary Skip's bonus Interest and dividends Total Income EXPENDITURES Fixed Expenses Rent expense Skip's income taxes Cash-Flow Statement Dollars 26,500 25,175 3,975 Jackie's income taxes 4,770 4,532 Automobile loan payment Education loan. Phone Transportation 900 Automobile Insurance and registration 225 Total fixed expenses Variable Expenses Food Utilities Gasoline and maintenance Vacations Clothing $5,200 2,700 Miscellaneous (Skip's withdrawals) Medical expenses 5,200 180 Total variable expenses $ Total Expenses SURPLUS (DEFICIT) $ Based on this cash-flow statement, Skip and Jackle have a cash in and out, their bank balance should have by for the year. This means that if they accounted for all of their cash flows from December 31, 2015 to December 31, 2016