a. CA Current Asset b. IA Intermediate Asset the items you classified on the Balance Sheet on the next page. For example, Land is a Fa (Fixed Asset). d. CL-Current Liability e. IL Intermediate Liability C. FA Fixed Asset f. LL-Long-term Liability Description Calculate the Value List the Balance Sheet Classification Land, 2,000 acres @ $400 per acre 800,000.00 FA Breeding cattle, 135 head @ $800 per head 108,000.00 IA Bulls, 4 head @ $1,000 each 4,000.00 IA Checking Account @ $8,000 8,000.00 CA Account payable at Bill's Feed Store @ $3,000 3,000.00 CL Cash on hand @ $1,000 4,000.00 CA Wheat on hand, 2,000 bu. @ $3.00 per bu. 6,000.00 CA Hay on hand, 100 tons @ $50.00 per ton 5,000.00 CA Growing wheat, 300 acres @ $20 per acre 6,000.00 CA Farm mortgage payment due 9/15/22 @ $5,000 5,000.00 CL Balance on Farm Mortgage @ $605,000 605,000.00 LL Buildings & improvements @ $60,000 60,000.00 FA Feeder cattle loan (all due 10/1/22) @ $25,000 25,000.00 CL Calves (to be sold this fall), 110 head @ $300 33,000.00 CA Savings account @ $6,000 6,000.00 CA Feeder cattle (to be sold in 30 days), 90 head @ $575 51,750.00 CA Bank Note, (all due 10/1/22 @ $3,000 3,000.00 CL Pickup Truck @ $3,000 3,000.00 FA Machinery & Equipment @ $58,000 58,000.00 FA Loan on beef cows - payment due 11/1/22 @ $5,000 5,000.00 CL Balance on beef cattle loan, noncurrent portion @ $55,000 55,000.00 LL U.S. Savings bond (mkt. security) @ $1,000 1,000.00 IA Real estate taxes @ $3,000 3,000.00 CL Account Receivables @ $2,000 2,000.00 CL Corporate stock @ $3,000 3.000.00 LL CURRENT ASSETS Balance Sheet CURRENT LIABILITIES Current Assets Checking account Current Liabilities 8,000.00 Accounts payable 3,000.00 Cash on hand 4,000.00 Farm mortgage 5,000.00 Wheat on hand 6,000.00 Feeder cattle loan 25,000,00 Hay on hand 5,000.00 Banknote 3,000.00 Growing wheat 6,000.00 Loan on beef cows 5,000.00 Calves 33,000.00 Real estate taxes 3,000.00 Savings account 6.000.00 Feeder cattle 51,750.00 Accounts receivable 2,000.00 Total Current Assets 121,750.00 Total Current Liabilities 44,000.00 NON-CURRENT ASSETS Intermediate Assets NON-CURRENT LIABILITIES Intermediate Liabilities Breeding cattle 108,000.00 Bulls 4,000.00 US Savings bond 1,000.00 Total Intermediate Assets 113.000.00 Total Intermediate Liabilities Fixed Assets Long Term Liabilities Land 800,000.00 Balance on farm mortgage 605,000.00 Buildings and improvements 60,000.00 Balance of beef cattle loan 55,000.00 Machinery and equipment 58,000.00 Corporate stock 3,000.00 Total Fixed Assets 918,000.00 Total Long-Term Liabilities 663,000.00 Total Non-Current Assets 121,750,00 Total Non-Current Liabilities TOTAL ASSETS 152,750.00 TOTAL LIABILITIES 707,000.00 TOTAL LIABILITIES & OWNER EQUITY 445,750.00 Accounting Equation: Assets Liabilities +Owner Equity STEP 4: Green Farms used the previous financial statements to develop the Statement of Cash Flows to present to the bank. Use the previous statements to complete the cash flow information below. NOTE: The beginning cash balance comes from the Balance Sheet since there were no changes to cash during the year. STATEMENT OF CASH FLOWS Cash received from the sale of livestock Cash received from government payments Cash received from crop insurance proceeds Cash paid for all operating expenses Net cash provided by operating activities (A+B+C-D) Cash paid for the purchase of breeding livestock Cash paid for purchase of land, buildings, and improvements Net cash used by investing activities (F+G) Proceeds from real estate and other loans ABCDE FGH Cash received from non-farm income. Cash received from contributions by relatives Net cash provided by financing activities (I+J+K) -NKL J Net increase in cash from operating, Investing, and financing activities (E-H+L) M Cash balance at the beginning of the year ZO N Cash balance at the end of the year (M-N)