Inancial Planning Case Study and Create an income statement.
This is a group case study from Financial Planning class. My part is to answer the question E, i, j, konly from the case and create an income statement based on the data given on the spreadsheet. EACH question must consume 1.5 pages to 2 PAGES!! I highlighted my part from the following part of the instruction page as well. Do NOT do other questions other than I assigned, those are for other group members. This case study also requires to come up with cash flow statement, balance sheet and income statement. And my part is to create an INCOME STATEMENT. PLEASE create a separate income statement on SPREADSHEET. Rest of answering the questions must be in WORD DOCUMENT (e,i,j, and k)
Question that you will answer is:
e) Provide advice on college funding including:
i) How much will it cost? (include analysis)
ii) Do we finance both childrenas cost using 529 plans?
iii) Which state 529 plan should we choose?
i) Provide advice on retirement planning including:
i) How much money will we have available for retirement at age 65? (include analysis)
ii) Can we retire sooner than age 65 (What age?) with the same level of income as our current salaries? (include analysis)
j) Provide advice on Life and Disability insurance including
ii) How much coverage should we have (include analysis)?
k) Provide advice on estate planning.
Please carefully read the questions and additional information given. Support your reason why you came up with such answer with SPECIFIC numbers and calculation. Detailed analysis is required to answer the questions. I will upload what other group members did on their part such as asset allocation, cash flow statement and balance sheet. Based on those data, please provide me a separate spreadsheet of INCOME STATEMENT.
If you have any question, please let me know. Two files must be submitted. One EXCEL file for income statement and One WORD DOCUMENT file for answering the questions.