Use the information below to create an Income Statement for the Miura family. Rika and Kentaro have combined income of $$150,000.$Assume their average tax rate including fed$/$state is $20\%.$Rika$$s income is $$70,000$ and Kentaro$$s is $$80,000.$FICA taxes for both of them total to $$11,475.$Calculate their combined federal and state tax using the information above. They each save $$700$ per month. Their mortgage payment is $$3,833$ per month $($PITI$),$ they lease two cars for a total of $$7,000$ per year and have college loans payments of $$120$ per month. Their utilities are roughly $$150$ a month and they estimate they spent about $$210$ a week on food.$$The premiums for their auto insurance totaled to $$1600$ for the year.$$ They had some other expenses for $2024$ they did not itemize that totaled to $$9,000.$ Instructions: Use the information above to create an Annual Personal Income and Expense Statement for the Miura$$s for $2024.$You can refer to the example of the Income and Expense Statement from the lecture and$/$or the $.$png file example included with this assignment $($attached above$).$The statement you create should be personalized for the Miura family and reflect their Income and Expenses. This means you should create it yourself and it will not look exactly like either example. Personal Income and Expense Statements double as Personal Cash Flow Statements for households since they do everything on a cash basis.$$It$\text{'}$s worth noting that Personal Expense Statements can look slightly different from one another and may have fewer or more categories for income and$/$or expenses depending on the household but in general you should be as specific as you can for income and expenses when possible.$$Be careful to read through the information above carefully and pay attention to detail as the amounts are listed for different time periods but you are creating an annual Income and Expense Statement.$$ Submission Instructions: Turn in this assignment as either a MS Word document $.$doc$/.$docx or an MS Excel file $.$xls$/.$xlsx$.$