Sheet1Jane Doe's Normalized Personal "Income Statement"Note: This is similar (NOT identical) to what you will do when you normalize your company's income statement and balance sheetYear 2001 InformationYear 2000 Information20% raise, slight increases in expenses% IncreaseMonthlyMonthly1999 to 2000AverageAnnualNormalizedAverageAnnualNormalizedAnnualIncome:Base Salary48005760083%40004800080%20%Bonuses/Consulting10001200017%10001200020%0%Total Income580069600100%500060000100%16%Expenses/Taxes:Taxes, etc.17402088030%15001800030%16%Mortgage Payment10001200017%10001200020%0%Car Payment50060009%40048008%25%1.091.2Credit Card/Other Pay20024003%20024004%0%1.308Utilities50060009%500600010%0%Gas for Car78.48941.761%65.4784.81%20%Savings8701044015%500600010%74%Food, Misc.800960014%800960016%0%Total Expenses5688.4868261.7698%4965.459584.899%15%Budget "Profit/Slack"111.521338.242%34.6415.21%222%Jane Doe's Normalized Personal "Balance Sheet"AssetsCash50001%50001%0%Securities6000010%500009%20%Retirement Plans/401k11500019%10000019%15%Food/Personal60001%50001%20%Total Current Assets18600031%16000030%16%Fixed AssetsCar400007%300006%33%Other Insurable Assets500008%450008%11%Household Property10000017%10000019%0%House22000037%20000037%10%Total Fixed Assets41000069%37500070%9%Total Assets596000100%535000100%11%Liabilities & Equity:Liabilities:Credit Card/Other debt80001%50001%60%Student Loan70001%80001%-13%Car Loan350006%200004%75%Home Mortgage Balance14000023%15000028%-7%Total Liabilities19000032%18300034%4%Equity:40600068%35200066%15%Total Liabilities + Equity596000100%535000100%11%

&CExample using "Normalization" on an Individual's "Income Statement" and "Balance Sheet"

Sheet2

Sheet3