Agricultural Economics 3603 Agricultural Finance Spring Semester 2018 NAME Problem #8 Suppose a farm has Total Assets of S1,000.000, of which $200,000 is current assets, $400,000 is Machinery and Breeding Livestock, and $400,000 is Land. Also suppose the firm owes $400,000 in total debt. The specifics regarding the debt are as follows: $150,000 on an operating loan, $150,000 on a machinery loan, of which $32,000 is due within the next year, and $100,000 on a land loan, of which $10,000 is due within the next year. 1. Complete the following Balance Sheet for this farm. Current Assets Long Term Assets Total Assets A. Current Liabilities Long Term Liabilities Total Liabilities Net Worth How would you describe the "liquidity" position of this firm (give me a common liquidity measure and explain this firm's position)? B. How would you describe the "solvency" position of this firm (give me a common solvency measure and explain this firm's position)?? C