Dean and Brittany are both 32 years old and have a three-year old child, Eddie. They...

Dean and Brittany are both 32 years old and have a three-year old child, Eddie. They came to your office and asked you to build a financial statement analysis for 2017, based on the information provided.

Assets: They have $2,350 in their checking account, $12,320 in their money market account, $6,250 in a mutual fund investment account, $4,890 in the 529 plan for Eddie, and $25,000 in their retirement accounts. Their house has a fair market value of $195,320. Dean owns a 2015 Honda with a fair market value of $18,670, and Brittany owns a 2012 MiniCooper valued at $24,450. The furniture and household goods had an estimated value of $15,420; they have sporting equipment estimated at $2,430.
Liabilities: Dean and Brittany owed $6,180 on their Visa credit cards when they came to you, and they usually just pay the minimum required payment for credit card balance. The balance on their home mortgage was $136,000 at the end of 2015; their auto loan balance for Dean’s car was $17,470, and for Brittany’s car was $19,000. Brittany had a student loan which balance was $10,390.
Their total annual gross income was $98,207; total dedicated annual expenses were $55,085, and discretionary expenses were 3,808.
Their savings last year included $4,890 towards their retirement savings accounts (no employer match); $47 reinvested money market investment interest; and $1,890 contribution to a 529 plan for Eddie.

Based on the above the information (total 5 points):

1) Make a balance sheet for Dean and Brittany (total asset-0.5 pt; total liabilities-0.5 pt; net worth-1 pt), and

2) Report the following financial ratios: (a) Current Ratio (1 pt); (b) Emergency Fund Ratio (1 pt); and (c) Savings Ratio (1 pt).

Please Show your calculations in excel with functions THANK YOU!

Expert Solution

ekkarill92 answered 4 months ago

Kimberly has recently married Dean. Both taxpayers are 23 years old. They have one dependent child,...

Kimberly has recently married Dean. Both taxpayers are 23 years old. They have one dependent child, Amber age 3. Kimberly’s W-2 $5,000 Dean’s W-2 $7,000 Kimberly’s unemployment compensation $8,000 Dean’s unemployment compensation $9,000 What is their tax liability and tax credits? What is the maximum earned income credit a family (MFJ) with one child can receive?

Puneet and Theresa Chatterjee are both twenty-eight years old and have a two-year old child, Edward....

Puneet and Theresa Chatterjee are both twenty-eight years old and have a two-year old child, Edward. They have asked you to construct financial statements based on the information provided below. Use this information to calculate the following financial ratios: • Current Ratio • Emergency Fund Ratio • Savings Ratio • Debt Ratio • Long-term Debt Coverage Ratio • Debt-to-Income Ratio • Front End Mortgage Ratio • Back End Mortgage Ratio Summarize the Chaterjees’ financial situation based on your analysis of...

Ahmad Wazir is 34 years old, married with a three-year-old child and another on the way....

Ahmad Wazir is 34 years old, married with a three-year-old child and another on the way. He lives in a town of about 100,000 people outside Kuala Lumpur, Malaysia. After graduating with a BBA in marketing and later with an MBA in Islamic Finance, he joined one of the biggest Takaful operators, Takaful Ehsan (TE) where he built a sizeable business marketing in general and family Takaful products. But with changes in the organization and having no control over client...

HL & TL are husband and wife, both 32 years old, and are coming to see...

HL & TL are husband and wife, both 32 years old, and are coming to see their provider because TL just found out she has a herpes simplex virus type II. She is unsure where she got it, and TL does not feel he has ever had it. TL tells you she was seen three weeks ago at a clinic in Hawaii and was treated for herpes. She had noted blisters around her labia and vulva that became very sore....

Danielle DiMartino is a 32-year-old single mother with one child. Her 8-year-old daughter has a history...

Danielle DiMartino is a 32-year-old single mother with one child. Her 8-year-old daughter has a history of ear infec- tions that require doctor’s office visits four or five times per year. Danielle’s 70-year-old mother lives with the family for financial reasons; she has hereditary high blood pressure and high cholesterol as well as diabetes. Danielle’s mother is enrolled in Medicare Parts A and B. Danielle’s employer pays all or a portion of the cost for a health care plan to...

Debra and James Dean are homeowners in Richardson, TX. They have a 30 year old oak...

Debra and James Dean are homeowners in Richardson, TX. They have a 30 year old oak tree in their front yard. On April 25, 2017, a violent thunderstorm struck Richardson. Wind gusts were recorded as high as 65 miles per hour. The Dean’s tree was blow over by the storm. Unfortunately, the tree crashed onto their neighbor’s 2017 Lexus RX350. The car was only one month old. The neighbor, Scott Turf, contacted the Dean’s and advised them he felt they...

1) Eddie, an overweight 40-year-old, decides it’s time for his first physical in ten years. He...

1) Eddie, an overweight 40-year-old, decides it’s time for his first physical in ten years. He has no history of heart issues, but his father died of a myocardial infarction at age 41 and his mother is diabetic. What tests would the MD order to get a read on his heart? The doctor would also tell him to take a daily over the counter anticoagulant. What should he buy at the drug store? 2) Explain why mature red blood cells...

1. The parents of a 5-year old child wish to have $250,000 when the child starts...

1. The parents of a 5-year old child wish to have $250,000 when the child starts college at the age of 18. How much should they deposit monthly in an account that pays 4.5% compounded monthly to achieve their goal? 2. A 25-year old saves for retirement by making monthly deposits of $1000 in an account that pays 4.9% compounded monthly. How much would be in the account at retirement age of 65? Please provide answers ASAP. Thanks

Nancy is 32 years old living with her partner and has a 3 year-old daughter. She...

Nancy is 32 years old living with her partner and has a 3 year-old daughter. She is 16-weeks pregnant with her 2nd child and is having her clinic visit. she is 5'10" weighing 225 lbs. Her obstetrician is concerned about her weight gain (gained 14 lbs in 16 weeks) and advised about her dietary management. He did an A1c test with a result of 6.5%. 1. What are the screening and diagnostic tests for gestational diabetes? 2. What are the...

John is a 32 year old IT worker with a wife and a 3 year old...

John is a 32 year old IT worker with a wife and a 3 year old child. During a previous physical, it was noted that John has an ‘obese’ BMI of 33. John attributed his weight problem to a lack of exercise because of his work/family life, and because of his moderate to severe asthma. John mentioned that he regularly The only prescription John was taking at the time of that former visit was prednisolone, an asthma medication he has...

Question