5. The following represents all the assets and liabilities for Smith's AgriCo. Distribute the following items as assets and liabilities. Calculate business Equity/ owner's worth: (12 Long term debt $3,000 Bank operating loans $2000 Cash on hand $5,000 pre-paid expenses for fertilizer $300 Savings $5,000 Notes payable within one year $1,000 accounts receivable $2,000 Rent payments $500 Breeding livestock $3,000 The following represents income statement of a business. The tax rate for the business is 12%. Calculate Gross Profit, Earnings Before Taxes, and Net Income. (10 8. A tractor costing $100,000 with a useful life of 10 years and a projected salvage value of $20,000. Calculate the annual depreciation value of the tractor for the next two years using Straight line method, and Double Declining Method. (Show all your work) (13 9. Rayan's firm Cash Budget: (10 The beginning cash balance for May is $30,000, and the firm's projected revenues and expenditures are recorded as in the table. Rayan's firm must keep a minimum cash balance of $25,000 all the time by agreement with lender's bank. Calculate the projected borrowing for the month of May, June, July and Augus 10. Fill in five blanks (a-e) for the Statement of Cash Flows for 2009 by using the following Balance sheet \& Income statement. (10 points