Cash-Flow Statement for Thomas Green

Construct Financial Statements Thomas Green has been a retail salesclerk for six years. At age 35, he is divorced with one child, Amanda, age 7. Thomas's salary is $36,000 per year. He regularly receives $220 per month for child support from Amanda's mother. Thomas invests $100 each month ($50 in his mutual fund and $50 in U.S. savings bonds). Amount $3,000 5,000 ASSETS Vested retirement benefits (no employee contribution) Money market account (includes $150 of interest earned last year) Mutual fund (includes $200 of reinvested dividend income from last year) Checking account Personal property Automobile U.S. savings bonds LIABILITIES 4,000 1,000 6,000 3,000 3,500 Outstanding Balance Dental bill pays $25 per month and is included in uninsured medical/dental) Visa (pays $100 per month) Student Loan(pays $100 per month) $ 450 1,500 9,000 ANNUAL EXPENSES Auto insurance Rent Utilities Phone Cable Food Uninsured medical/dental Dry cleaning Personal care Gas, maintenance, license Clothes Entertainment Vacations/visitation travel Child care Gifts Miscellaneous Taxes Health insurance Amount $ 780 9,100 1,200 680 360 3,000 1,000 480 420 2,120 500 1,700 1,400 3,720 400 300 6,400 2,440 Balance Sheet for Thomas Green Dollars Percent % 1000 5000 3500 % % $ UF % % $ % $ % ASSETS Monetary Assets Checking account Money market account U.S. savings bonds Total Tangible assets Personal property Automobile Total Investment assets Mutual fund Vested pension benefits Total TOTAL ASSETS LIABILITIES Short-term liabilities Dental bill Visa Total Long-term liabilities Student loan(pays $100 per month) Total TOTAL LIABILITIES % $ % $ $ % % $ % % $ % $ NET WORTH $ % $ % TOTAL LIABILITIES AND NET WORTH $ 9 9 9 S 0 $ INCOME Thomas's salary Child support Interest and dividends TOTAL INCOME INCOME Expenditures Fixed expenses Rent Mutual fund U.S. savings bond Child care Health insurance Auto insurance Uninsured medical/dental Taxes Debt payments Total Variable expenses Food 9 96 % $ 5 9 Utilities Phone Cable Gas, maintenance, license Dry cleaning Personal care Clothes Entertainment Vacation/visitation travel Gifts Miscellaneous Total S TOTAL EXPENSES S 9 NET GAIN 5 0