If you could answer the things in yellow based on the case study that would be greatly appreciated

PART 1: BRAD BROOXS-A Continuing Case Your childhood friend, Brad Brooks, has asked you to help him gain control of his per- sonal financos. Single and 30 years old, Brad is employed as a salosporson for a technol- ogy company. His annual salary is $48,000. He claims no exemptions (he enjoys the big refund check in May), and after Social Security, Medicare, and federal, state, and local Income taxes, his monthly disposable Income is $2,743. Brad has recently moved from his comfortablo two-bedroom apartment with rent of $600 per month to a condo that ronts for $1,000 per month. The condo is in a plush property owner's association with two golf coursos, a lake, and an activity center. You review his other monthly expenses and find the following: Rentor's Insurance $20 Car payment (balance on car loan $10,000; market value of car $11,000) 500 Utilities (gas, electric, Internet) 200 Smartphono 250 Miscellaneous expenses 50 Grocerios 200 Clothes 100 Cor exponsos (gas, insurance, maintenanco) 250 Entertainment (dining out, golf, wookend ips) 400 Brad is surprised at how much monoy ho spends on clothes and entertainment. He uses his credit cards for those purchases (the balance is $8,000 and climbing) and has little trouble making the required monthly payments. Ho would, however, like to see the bal- anco go down and eventually pay it off complotely, Brad's other goal is to save $4,000 a year so that he can retire 25 years from now. Brad currently has about $4,000 in his checking account and $200 in his savings account (tho balance necessary to rocelve no foo chocking). He has furniture valuod at $1,500 and owns $1,300 of tech stocks, which he believes have tho potontial to make him rich. Turn to the workshoets at the end of this chapter to continue this case. PART 3: BRAD BROOKS-A Continuing Case Brad Brooks listened to your advice about reducing the use of his smartphone (which saves him $250 per month) and reducing his ontertainment expenses by $200 per month. He still rents the condo for $1,000 per month. Howover, now Brod has the urgo to upgrade his car and housing situations. Ho interested in purchasing an SUV for $35,000. Ho still owes $10,000 on his two-year-old sodan (which has 57,000 miles) and has found a buyer who will pay him $15,000 cash. This would enable him to pay off his current car loan (loan balance is prosently $10,000 on his existing car) and still havo $5,000 for a down payment on the SUV. He would finance the remaining $30,000 of the purchase price for four years at 8%. Brod would also like to purchaso his condo. Ho knows that he will enjoy tax advantages with ownership and is eager to reduce his tax burden. Ho can make the purchase with 10% down; the total purchase price is $90,000. A 30-year mortgage is available with a 5% rate. Closing costs due at signing will total $3,100. The property taxes on his condo will bo $1,800 per year, his Property Owners' Association (POA) fee is $70 per month, and his household insurance will increase by $240 a year If he buys the condo. Turn to the workshoots at the end of this chapter to continue this case. Brad BrooksA Continuing Case Part 3: Personal Financing 1. Refer to Brad's personal cash flow statement that you developed in Part 1, with the revisions based on Brad's giving up the smartphone and reducing his entertainment expenses by $200 per month. Based on his revised personal cash flow statement, offer your opinion about whether Brad can afford to purchase the SUV and still achieve his goals of paying off his credit card balance and increasing his savings over the next 4 years. Personal Cash Flow Statement Cash Inflows This Month Total Cash Inflows Cash Outflows Total Cash Outflows Net Cash Flows