Question: Question 3 Jess is a single 33 year-old employed by local council and has a gross income of $105,000 for the financial year.. Fortnightly salary

Question 3 Jess is a single 33 year-old employed by local council and has a gross income of $105,000 for the financial year.. Fortnightly salary deductions (based on gross income) for Jess are as follows: Percentage% 27 3 Details Taxation (effective rate) Personal super contributions fie salary sacrifice to super) Health cover Other annual expenditures: Details Household expenses Mortgage loan repayments Car loan repayments Entertainment expenses Assets and liabilities: Details Assets House and personal effects Superannuation Car Savings account Liabilities Mortgage loan Credit card balance Amount (5) 39,000 24,000 12,000 25,000 Amount (5) 650,000 160,000 40,000 6,000 350,000 10,000 (a) Prepare a personal cash flow. Prepare a current personal balance sheet (b)

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