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Ruth (31) is your new client. She graduated from GBC five years ago. Since then, she has worked hard and progressed at her job. Two years ago, she bought a condo and now she finds that money is tight She is looking for your input on her financial position. Below is the financial data she provides for 2020. Incomes and expenses are annual, assets and liabilities are balances on Dec 31, 2020
Chequing Account $3000 RRSP $21000
Saving Account $6000 Condo $590000
Stock Portfolio $18000 Car. $ 39000
GIC (5-year term) $7000. Student loan $21000
Car Loan $25000. Line of credit(outstanding)$29000
Employment Income $ 88000. Mortgage debt $250000
Income Taxes $32000. Clothing $2500
Mortgage payments $17000. Heat $2000
Food expenses $5500. Entertainment $5000
Loan payments $11000. Transportation $4500
Insurance premiums $3000. Vacation $4000
Charitable Donations $1000. Property taxes $4500
Net worth Statement ?
Assess fully Ruth's cash flow statement (from above)
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