Please answer; see attached:
University of Phoenix Material
Case Study: Carol Jones
Carol works as a business representative for an import/export company. Her job provides her with the opportunity to travel and experience new things. Because she travels so much, Carol feels that she does not have a handle on her finances. She has decided to pay a visit to a financial advisor for help.
|Carol’s Salary||$2,000||Auto Payment||$262|
|Gas/Heating||$100||Visa Card||$3,000||Int 15%|
|Electric||$125||Bloomingdale Card||$1,500||Int 29%|
|Water||$60||Personal Loan||$5,000||Int 5%, 60 mths|
|Mortgage Payment||$796||Personal Loan Payment||$94|
|Car Insurance||$165||Carol’s 401K||$50,000|
|Lawn Service||$100||Bloomingdale Payment||$30|
Write a 700- to 1,050-word paper that addresses the following items from the case study:
- Apply financial planning concepts to advise Carol and explain how Carol can benefit from financial planning. Describe the benefits of using financial statements in financial planning.
- Utilize and explain strategies that Carol can use to increase her net worth. How does this affect her cash flow?
- Describe the sources available for asset management.
- Compile a list oflegal protections that can be used to protect Carol’s assets.
- Using the information provided for Carol create a balance sheet and cash flow statement. Estimate Carol’s overall net worth.
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