10. Preparing a cash budget Brock and Sam started to create a budget (based on last year's Income and expense statement) but got stuck. They know that you have learned how to create budgets and are asking for your help. They would like you to input the correct values for the first three months of next year. Income and Expense Statement Name(s): Brock and Sam Wilson For the year ending: Income Wages and salaries Bonuses and commissions (1) Total Income: Expenses Housing Utilities Food Transportation Insurance Taxes Fun money Parents' loan (2) Total Expenses: Surplus (Deficit): As of December 31, 20XX Dollars Name: Brock Wilson $ 20,000 Name: Sam Wilson Brock's bonus 18,000 2,000 $40,000 $5,400 Central Maine Power 600 T-Mobile 300 Groceries 1,080 Auto loan 4,320 Public transportation 2,400 900 9,500 Cruise to Mexico 2,500 700 $27,700 $12,300 In addition to the statement, you will need to know the following information: They estimated their net annual income (after taxes and employer deductions) at $15,000 for Brock and $13,500 for Sam Insurance is paid at the end of each calendar quarter Sam purchases her commuter pass on the first of each month The parents' loan is money they borrowed from Sam's parents to pay off their student loans. How much they pay each month is determined by them The fun money listed on the statement is the money spent for a cruise to Mexico. They didn't keep track of any other entertainment expenses (such as dinners out and movies) incurred during the year.