Personal Budget, Balance Sheet and Cash Flow StatementStudent:Professor:Course title:Date:MEMORANDUMSubject: Personal Budget, Balance Sheet, and Cash Flow StatementFrom: Anita Brelsford To: Mrs. Viviane PollingtonDate: 10/9/2014Dear Mrs. Pollington,This memorandum is prepared for the purpose of evaluating the financial situation of the client, Mrs. Pollington. The client’s personal budget, balance sheet, as well as cash flow statement are prepared, and the summary from these are presented in a concise and succinct manner. Mrs. Pollington is aged 46, recently widowed following the death of her husband, Paul Pollington one year ago. She has 4 children; Laci 23, Sharon 20, Morris 15, and Jonathan 7. Mrs. Pollington has a bachelor’s degree in Economics from the University of Texas at Austin and currently works as an accounting at a local auditing firm, where she earns $64,608 annually. She also has a business that brings her an income of $17,865 per year.The two main concerns for my client are finishing a car loan she took with her husband, as well as the payment of school fees for her 4 children. Since the death of her husband, she has had financial difficulties considering that Mr. Paul Pollington’s annual income of $ 67,244 was very helpful in paying bills and meeting various needs and expenses, which Mrs. Pollington now has to foot all by herself. Her goals are to save adequate money so she can buy stocks, and to be able to successfully complete the mortgage. Balance sheet for Mrs. PollingtonAssetsLiquid AssetsChecking Account Balance$6, 250Savings Account Balance$9, 660Total Liquid Assets$15, 910Real EstateMarket value of house$173,699Personal PossessionsMarket value of car$25, 731Furniture and appliances$3,100Electronic equipment $2,800Collectibles$750Total Personal Pos...