-3 - For the following scenario: a) calculate the Change in Purchased Feeder Livestock Inventory and the Change in Market Livestock and Poultry Inventory, b) prepare the journal entries for the adjustments, and ) indicate the effects on the income statement for purchased feeder livestock and raised market livestock. The Farmers purchased feeder calves for $10,500 and feeder pigs for $2,500. At the end of the year, they had all of the calves and half of the feeder pigs on hand. The Farmers also had raised feeder calves on hand with a market value of $26,000 at the end of the year. The farmers had no market livestock on hand at the begin-ning of the year