(SOLVED) Thomas Green of Laramie Wyoming has been a

retail salesclerk

Thomas Green, of Laramie, Wyoming, has been a retail salesclerk for six years. At age 35, he is
divorced with one child, Amanda, age 7. Thomas's salary is $46,000 per y
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been-a-retail-salesclerk

Thomas Green, of Laramie, Wyoming, has been a retail salesclerk for six years. At age 35, he is
divorced with one child, Amanda, age 7. Thomas's salary is $46,000 per year. He regularly
receives $400 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). Using the following information,
construct a balance sheet and a cash-flow statement for Thomas.

ASSETS Amount

Vested retirement benefits (no employee contribution)...........................$6,000

Money market account (includes $150 of interest earned last year) ..............5,000

Mutual fund (includes $200 of reinvested dividend income from last year).....5,000

Checking account........................................................................1,000

Personal property........................................................................5,000

Automobile..............................................................................12,000

U.S. savings bonds.......................................................................3,000

LIABILITIES Outstanding Balance

Dental bill (pays $25 per month and is included in uninsured medical/dental).........$ 450

Visa (pays $100 per month) ...................................................................3,500

Student loan (pays $100 per month) .........................................................7,500

ANNUAL FIXED EXPENSES Amount

Auto insurance............................................................................$ 780

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 Rent.......................................................................................12,000

Utilities.....................................................................................2,400

iPhone........................................................................................980

Cable........................................................................................1400

Internet.......................................................................................800

Food.......................................................................................3,v000

Uninsured medical/dental................................................................1,000

ANNUAL VARIABLE EXPENSES Amount

Dry cleaning......................................................................$ 480

Personal care........................................................................420

Gas, maintenance, license.......................................................2,120

Clothes...............................................................................500

Entertainment......................................................................2,700

Vacations/visitation/travel.......................................................3,300

Child care..........................................................................5,000

Gifts..................................................................................400

Miscellaneous........................................................................300

Federal income tax...............................................................5,600

Social Security taxes.............................................................3,500

Health insurance..................................................................2,440

Thomas Green of Laramie Wyoming has been a retail salesclerk

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