a$.$ Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement.

b$.$ Did the Adams family have a cash surplus or cash deficit?

c$.$ If the result is a surplus, how can the Adams family use that surplus?

a$.$ Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement.

Complete the income part of the personal income and expense statement: $($Round to the nearest dollar.$)$

Personal Income and Expense Statement

Period Ended December $31,2021$

Income

Adam's salary

Arin's salary

Interest received

Dividends received

Total Income

Data table

$($Click the icon here $$ in order to copy the contents of the data table below into a spreadsheet.$)$

Adam's salary

Arin's salary

Interest received

Dividends received

Auto insurance

Home insurance

Auto loan payment

Mortgage paymentIncome statement preparation $$Adam and Arin Adams have collected their personal income and expense information and have asked you to put together an income and expense statement for the year. The following information is received from the Adams family LOADING....

a$.$ Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement.

b$.$ Did the Adams family have a cash surplus or cash$$ deficit?

c$.$ If the result is a$$ surplus, how can the Adams family use that$$ surplus?

Question content area bottom

Part $1$

a$.$ Create a personal income and expense statement for the Adams family. It should be similar to a corporate income statement.