1-Current liabilities are items that are due within a year or less such as cash loans or medical bills. Long-term liabilities are items that are due in one year or more such as education loans or mortgages.
Moving forward, what is meant by the "cost of living"?
2-Since he only makes 62 cents on the dollar his net income each month would be $4836 (0.62 X 7800 =4836). Let's do the reverse now. Last month, Lisa took home ( after taxes and deductions) $7200. If you knew that Lisa is in the 28% tax bracket, can you find her gross monthly pay (before taxes)?