actually be able to build into his RRSP by the time he reaches age 55 but. like his wife. originally thought he could have about $3. in his RRSP by the time he hits age 65. When they do retire. Jennifer and Mark would like to spend at least 3 months each winter in either Arizona or Mexico. With this being part of their plan. they believe they will need to have a joint {combined} gross-annual income. at retirement. of at least $125.0 per year. Jennifer and Mark are not good at saving money. and even worse at knowing where the money goes. They use their credit cards to buy almost everything so they can build-up the Air Miles and other travel-points to take vacations on. Some months they pay large amounts of money against their credit card balances. other months they make only the minimum payments. Your Assignment 1] Using the concept that is contained in Exhibit 2 - 3 from the course textbook [a copy of which is attached at the back}. create a joint personal balance sheet for Jennifer and Mark and provide your conclusions about what you see in their balance sheet. [5 marks for the balance sheet1 and 5 marks for your commentary] 2] Using the concept that is contained in Exhibit 2 - 4 from the course textbook [a copy of which is attached at the back) create a joint cash-ow statement for the couple and provide your conclusions about what that cash-flow statement seems to indicate. (5 marks for the cash flow statement and 5 marks for the commentary} Before you continue to do any more questions. show me your balance sheet and your cash-ow statement. If your numbers are \"way olf' in questions # 1 and # 2 {mainly in Q #2} your recommendations and conclusions for the rest of the case will be WRONG! 3] Evaluate their risk-management situation [their use of insurance products to protect various aspects of their lives]. {5 marks] 4] Examine their investment portfolios {what each has in their RRSPs) and make some recommendations about the types of investments they have and the risks they need to be aware of. {It marks} 5] Comment on Jennifer's and Mark's current tax strategies and make any recommendations you think are appropriate. [IE marks} IE] From what you have concluded from the value of their investment portfolios (RRSPs) together with the other sources of income in their retirement what. in your opinion. is the likelihood that the couple can achieve the goals they have with their respective RRSPs and that they can. together. have retirement income of $125.00-D per year. {B marks]