#2) Marcos and Francesca have been married for five years. Marcos owns a clothing store and makes about $4200 a month. Francesca is an elementary teacher and brings home $2500 a month. They recently bought a townhouse and their mortgage payment is $1200/month. Internet, cable and telephone totals $175.00 a month and utilities they manage to keep down to $175.00 per month also. They lease two cars for $450 a month each and spend about $230 combined in gas monthly. They have one son, Jason, who goes to private Montessori school, which costs them $500.00 per month. Groceries cost them $400.00 per month and entertainment around #350. Marcos and Francesca want to save $500.00 per month towards retirement. Are they able to?

#2) Marcos and Francesca have been married for five years. Marcos owns a clothing store and makes about $4200 a month. Francesca is an elementary teacher and brings home $2500 a month. They recently bought a townhouse and their mortgage payment is $1200/month. Internet, cable and telephone totals $175.00 a month and utilities they manage to keep down to $175.00 per month also. They lease two cars for $450 a month each and spend about $230 combined in gas monthly. They have one son, Jason, who goes to private Montessori school, which costs them $500.00 per month. Groceries cost them $400.00 per month and entertainment around #350. Marcos and Francesca want to save $500.00 per month towards retirement. Are they able to?

Corporate Financial Accounting

15th Edition

ISBN:9781337398169

Author:Carl Warren, Jeff Jones

Publisher:Carl Warren, Jeff Jones

Chapter14: Financial Statement Analysis

Section: Chapter Questions

Problem 14.7BE: To determine: Times interest earned ratio Given info: Income before income tax and interest expense....

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Question

Monthly Income
Salary #1
Salary #2
Total Monthly Income
Monthly Expenses
Rent/Mortgage
Car Payment/Lease
Transportation/Gas
Phone/Internet/Cable
Utilities
Food
Entertainment
All Other Expenses
Total Monthly Expenses
Net Income
(Total Income - Total Expenses)
Explain:

#2) Marcos and Francesca have been married
for five years. Marcos owns a clothing store and
makes about $4200 a month. Francesca is an
elementary teacher and brings home $2500 a
month. They recently bought a townhouse and
their mortgage payment is $1200/month.
Internet, cable and telephone totals $175.00 a
month and utilities they manage to keep down
to $175.00 per month also. They lease two cars
for $450 a month each and spend about $230
combined in gas monthly. They have one son,
Jason, who goes to private Montessori school,
which costs them $500.0o per month.
Groceries cost them $400.00 per month and
entertainment around #350. Marcos and
Francesca want to save $500.00 per month
towards retirement. Are hey able to?

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