Create the following financial analyses using the information provided for Carol (Hint: first identify each item as an Asset Liability Cash Inflow or Cash Outflow): Sheet 1. a Balance Sheet, including a line item showing Carol's overall Net Worth. Sheet 2. a Cash Flow Statement for a single month, including a line item showing Carol's overall Net Cash Flow. Organize cash outflows by Debt Payments and Expenses with subtotals for each. Format these 2 sheets professionally and consistently. Use appropriate Sheet Tab Titles. APA formatting is NOT required. Sheet 3. Write a concise (1 paragraph each) response that addresses each the following items: 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, 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 of legal protections that can be used to protect Carol's assets. Format this sheet to be sure each response is fully legible in the cells in which typed (use wrap If it runs off the screen and adjust column width and row height as needed). Use a separate cell(s) with section header for each of the above requirements. Use appropriate Sheet Tab Title APA formatting is NOT required. 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 Home Gas/Heating Electric Water Internet/Cable Phone Cell Phone Food Mortgage Payment Car Insurance Savings Checking Lawn Service $2,000 $100,000 $100 $125 $60 $150 $50 $200 $250 $796 $165 $500 $1,000 $100 Auto Payment Mastercard Visa Card Bloomingdale Card Personal Loan Mortgage Car Gym Membership Personal Loan Payment Carol's 401K Auto Loan Visa Payment Bloomingdale Payment Mastercard $262 $5,000 Int 15% $3,000 Int 15% $1,500 Int 29% $5,000 Int 5%, 60 mths $95,000 $20,000 $20 $94 $50,000 $15,000 $60 $30 $100