#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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