Reference no: EM13971339
Use the following financial information about Danni Flinn:
she earns $625 in wages from her job at the bookstore every 2 weeks
her parents give her $400 every month
she averages $75 in income each month by dog-sitting
she has $800 in her savings account
she has $350 in her checking account
she has a car worth about $3,500
she rents an apartment with roommates, her portion of the rent is $420 every month
she deposits $100 every month into her savings account
her utilties and cell phone expenses run her about $250 per month
she spends about $85/week on food
she allows herself $40/week for entertainment
her car payment is $165/month
her car insurance is $300 every 6 months
the balance on her car loan is $1,250
the balance on her credit card is $545 and she makes $50 payments monthly to the company for the balance on this account
she has an outstanding balance for medical expenses of $385 and she makes $25 payments monthly to the medical office owed
1. Danni's current assets are?
2. Danni's current liabilities are?
3. Danni's current net worth is?
4. According to the Basic Liquidity Ratio, if Danni lost her income, she could maintain her current spending for how many months?
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