Prepare a Balance Sheet and cash flow statement based on data: Kyle and Marie are trying to financially get ahead. They have 1 child who is 7 years old. Maria is a stay at home mother who used to work in a middle school earning $50,000 but stopped because she believes day care and taxes would take her whole check away. Kyle makes $50,000 annually as a tech mechanic. Unfortunately, they are beginning to spend more than their monthly income and have no money in savings for emergencies. The couple is also very stressed about their net worth. The couple's assets include $1,000 in a checking account, $2,600 in Kyle's 401(k), their home valued at $150,000, two cars valued at $7500 and the other at $15,700 to which both are paid off. They also have a timeshare valued at $11,000 and personal property of $12,000. For debt they owe $142,500 on their mortgage, a loan of $15,000, $10,000 total on credit cards, $11,500 on a timeshare, and $12,000 to Kyle's parents. They also have these payments each month:

$962.89 Cable TV $130.00 Food Auto Insurance PITI CC minimum payment @ 29% interest Time Share Payment Time Share HOA Dues Parent Loan Personal Loans Payment $300 $180.00 $125.00 $217.00 $300.00 $257.00 $325.00 $75.00 Gas Utilities $304.00 Auto Maintenance Gym Membership Clothes Recreation Dining Out Cell Phones $135.00 $55.00 $175.00 $250.00 $300.00 $125.00 $962.89 Cable TV $130.00 Food Auto Insurance PITI CC minimum payment @ 29% interest Time Share Payment Time Share HOA Dues Parent Loan Personal Loans Payment $300 $180.00 $125.00 $217.00 $300.00 $257.00 $325.00 $75.00 Gas Utilities $304.00 Auto Maintenance Gym Membership Clothes Recreation Dining Out Cell Phones $135.00 $55.00 $175.00 $250.00 $300.00 $125.00