Illustration Question

(Personal Balance Sheet and Personal statement of cash flows)

Mary has been a retail sales clerk for six years. At age 35, she is divorced with one child,
Amanda, age 7. Mary’s salary is Tsh. 36,000,000 per year. She regularly receives Tsh.
250,000 per month for child support from Amanda’s father. Mary invests Tsh. 600,000
yearly (Tsh. 300,000 in his mutual fund and Tsh. 3000,000 in EE savings bonds). Using
the following information;
Construct a personal balance sheet and income and expense statement for Mary
AMOUNT
ASSETS (Tsh ‘000’)
Vested pension benefits 3000
Money market account 5000
Mutual fund 4000
Checking account 1000
Personal Property 5000
Automobile 3000
EE savings bonds 3000

LIABILITIES
Dental bill 450
Visa 1500
Student loan 7500

ANNUAL EXPENSES
Auto Insurance 780
Rent 9100
Utilities 1200
Phone 680
Cable 360
Food 3000
Unisured medical/dental 1000
Dry clearning 480
Personal care 420
Gas, maintanance, licence 2120
Clothes 500
Entertainment 2700
Vacations/ visitation travel 1300
Child care 3820
Gifts 400
Miscellaneous 300
Taxes 6400
Health insurance 1440