Lady Rider, your seat is quite low, and the bike is by design quite low also, but given your stated height at 5' 5", I would say they are all okay, and that all you need to do is roll back the handlebars away from you a bit. I think by the various photos you posted and the visible slack in the control cables, you might want to try adjusting the bars to fit you first in your normal riding position with feet on the pegs (you will need your dad to hold the bike level) while doing this fitment exercise.
Stand astride your bike, in your normal riding position, straighten front wheel, put your palms together "praying position", then reach straight foward, level with shoulders, elbows slightly bent, slowly separate your hands allowing the palms to be at 45 degree angle or so and see where they fall when they touch your handle bar grips. Now do it again, only this time with your eyes closed. They should come close to were, so you want the bars to be adjusted to that position first. You may find handle bar angle now near to where you normally "reach for the bar" and is probably the best you will do without changing bars. Normally at this point most riders "adapt" to their bike and *gasp* leave the bars alone! But you can change them if the angles or reach are still not to your taste when money is not so tight.
BTW, now would be a good time to adjust the hand and foot controls so they naturally fall where your hands or feet naturally align themselves too. Amazing if you lower the gear shift and brake pedal so your shins do not cramp up, or 1/8" to 1/4" clutch freeplay so the "friction point" is in the middle of the sweep and it is easier to squeeze that clutch. If you adjust the footbrake make sure the light still comes on before brake application. Good Luck and enjoy your new ride!
