Personal Financial Statements

Develop an income statement, retained earnings statement, balance sheet and cash flow statement for

your personal life. This data will not be shared with the rest of the class.

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But since this is a private affair,you may choose to submit a ‘virtual you’ to keep your own financials private.

(Note:I strongly recommend that you still do your own private financials even if you submit av‘virtual you’ for the project assignment. It is a very good practice to keep track of your personal wealth, debts, etc. over time.)

I would like to see data going back 3 years. Therefore, there will be income statements for the past two years and this current year. The other statements will coincide with those dates.

After the statements are complete I would like a 1-5 paragraph summary of the information. What are the trends, what is the status of net worth, what actions might need to be taken

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