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Question 3 The following information describes the cashflows for Steven's household for the year ending...

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Question 3 The following information describes the cashflows for Steven's household for the year ending 31 December 2019. RM Investment income 1.320 Steven's gross salary 99,000 Insurance premiums 1,450 18,350 70,200 Food Steven's wife, Mary's gross salary Housing loan Taxes 52,200 16,430 BFP 3101 Page 5 of 5 Car installment 4,520 Medical care 2.750 Bonuses and commissions 12,235 Utilities bill 5,090 Required: (a) Construct a Cash Flow Statement for Steven's household. (12 marks) (b) Determine Steven and Mary cash flow situation. (2 marks) (c) While recording the above cash flow items, Mary forgot to include the amount of cash spent on clothing and footwear. However, she knew that their total assets were RM740,200 and their total liabilities were RM219,200 as of 31 December 2019. Their net worth as at 1 January 2019 was RM442,135. Calculate the clothing and footwear expenses for Mary. (6 marks)

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