AGEC 4000, Name BALANCE SHEET I. Rhonda Rancher has applied for a loan. Her banker, Larry Loanmaker, says the old balance of the afternoon taking inventory and gathering other information. He completed the balance Please answer the questions in the spaces provided on the next pages Milo on hand Hay on hand Growing wheat Farm mortgage (due 12/01/15) sheet on file must be brought up to date before a loan will be considered. Rhonda spends the rest sheet (market basis) using the information below compiled by Rhonda on September, 23, 2015. 5000 cwt. $4.50 per ewt 100 tons@ $65.00 per ton 100 acres $70.00 per acre Buildings & improvements Note payable on feeder cattle (all due 11/15/15) Calves (to be sold in 30 days) Feeder cattle (to be sold in 60 days) Note payable at bank (all due 12/15/15) Vehicles Other machinery&equipment Loan on beef cows (due 10/01/15) $10,500 principal $6,000 accrued interest balance after 12/01/15 payment $565,000 $98,000 $39,600 90 head @ $595 per head 120 head @ $1,100 per head 599,000 $89,500 $510,500 $29,000 principal, $1,500 accrued interest balance after 10/1/15 payment $92,000 Land (present market value) Beef breeding cows 500 acres @ $3000 per acre 110 head@ $1200 per head 4 head @ $2,800 each $10,500 $6,100 Checking account balance Account payable at Joe's Feed& Seecd Account receivable Shop Equip. (welder, lathe, drill press, etc.) Corporate Stock $4,500 300 shares @ $105 per share Has paid in advance for $3,000 worth of feed in order to get a good price on it. The feed will be delivered in November, 2015. Taxes owed, but not yet paid, are estimated at $29,200. I) 2) Rhonda contributed $810,000 to get her business started 4) 3) Retained earnings since the beginning of the business equals $545,000 ) uhat is phonday ouners eguty as of ephem ber 3, 2015 2 Hou much uorkiny Cupitel deo huvda have