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2) Using the straight-line method, calculate the amount of depreciation expense for each asset and prepare a schedule that would be included in the notes

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2) Using the straight-line method, calculate the amount of depreciation expense for each asset and prepare a schedule that would be included in the notes to the financial statements. (Points: 35) 2) Calculate Accrual Adjusted Net Farm Income using the appropriate data below. (Points: 15) Gain Due to Changes in General Base Values of Breeding Livestock: $5,000 Income Tax Expense: $5,400 Loss on the Sale of Farm Capital Assets: $1,600 Net Farm Income from Operations: $175,643 Other Revenue: $300 Other Expenses: $160 2) Using the straight-line method, calculate the amount of depreciation expense for each asset and prepare a schedule that would be included in the notes to the financial statements. (Points: 35) 2) Calculate Accrual Adjusted Net Farm Income using the appropriate data below. (Points: 15) Gain Due to Changes in General Base Values of Breeding Livestock: $5,000 Income Tax Expense: $5,400 Loss on the Sale of Farm Capital Assets: $1,600 Net Farm Income from Operations: $175,643 Other Revenue: $300 Other Expenses: $160

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