Question: answer all please issignment: Chapter 02 Using Financial Statements and Budgets Pedro and Lucy startod to create a budget (based on last year's income and



issignment: Chapter 02 Using Financial Statements and Budgets Pedro and Lucy startod to create a budget (based on last year's income and expense statement) but oot 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. Assignment: Chapter 02 Using Financial Statements and Budgets 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 $15,750 for Pedro and $14,175 for Lucy - insurance is paid at the end of each calendar quarter - Lucy purchases her commuter pass on the first of each month - The parents' loan is money they borrowed from Lucy'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' keep track of any other entertainment expenses (such as dinners out and movies) incurred during the year. Assignment: Chapter 02 Using Financial Statements and Budgets Looking at the completed bulget, what single item woudd you recomnend that they add to their budget? Pendions and annulties Dlvidend and interest income Savings and investments This is becauber The couple needs to increace their distributions from their retiremont plans. The couple needs to budget for contingendes and save for future goals. The couple needs to increase their taxable income
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