One of Your Financial Planning Clients, Ms Yvette Bordeaux Has

One of your financial planning clients, Ms Yvette Bordeaux has asked you to prepare specified personal financial statements on her behalf. Yvette is a 33 year-old employed landscape gardener and has a gross income of $55,000 for the 2014 financial year. In addition, Yvette's employer also contributes 9.25% of her gross income into a personal superannuation fund that you have set up to fund her retirement. Fortnightly salary deductions (based on gross income) for Yvette are as follows:
$\begin{array} { l c } \text { Details } & \text { Percentage } \\\text { Taxation } & 20 \\\text { Personal super contributions } & 7 \\\text { Health cover } & 3 \\\text { Union fees } & 2\end{array}$
Other expenditures incurred by Yvette for the 2014 financial year are as follows:
$\begin{array} { l c } \text { Details } & \text { Amount (\$) } \\\text { Household expenses } & 10,000 \\\text { Mortgage loan repayments } & 12,000 \\\text { Credit card repayments } & \mathbf { 8 , 0 0 0 } \\\text { Entertainment expenses } & 5,000\end{array}$
Yvette has also provided a list of her assets and liabilities based on the information that she currently has available as shown below:
$\begin{array}{lr}\text { Details }&\text { Amount (\$) }\\\text { Assets - }\\\text { House and personal effects } & 400,000 \\\text { Superannuation } & 160,000\\\text { Car } & 10,000 \\\text { Savings account } & 2,000 \\\text { Liabilities - } &\\\text { Mortgage loan } & 250,000 \\\text { Credit card balance } & 10,000\end{array}$
(a) Prepare a personal cash flow budget for Yvette for the 2014 financial year based on the information provided.
(b) Prepare a current personal balance sheet for Yvette based on the information provided.