BALANCE SHEET I. Rhonda Rancher has applied for a loan. Her banker, Larry Loanmaker, says the old balance sheet on file must be brought up to date before a loan will be considered. Rhonda spends the rest of the afternoon taking inventory and gathering other information. Complete a balanee on a separate page using the information below compiled by Rhonda on January 22, 2019. A Grain on hand a Hay on hand A Growing wheat L Farm mortgage (duel4/1/19) 3500 bu.@ S5.00 per bu. 17500 100 tons @$80.00 per ton tooo 200 acres @ $69.80 per acre 13460 $13,000 principal $10,000 accrued interest $260,000 $68,000 balance after 4/01/19 payment L Note payable on feeder cattle (all due 4/15/19) h Calves (to be sold in May 2019) A Feeder cattle (to be sold in 60 days) L Note payable at bank (all due 3/1/019) A Vehicles A Other machinery & equipment L Loan on beef cows (due 10/01/19) 100 head@ $605 per head &O 125 head@ $800 per head to000 $82,000 $30,500 $130,500 $12,000 principal, $2,200 accrued interest balance after 10/1/15 payment $34,000 1000 acres @ $1800 per acre ItoB, A Land (present market value) A Beef breeding cows A Bulls A Checking account balance L Account payable at Joe's Feed &Seed A Account receivable A Shop Equip. (welder, lathe, drill press, etc.) 110 head @$1000 per head 11o,00 4 head @$2,200 each o $33,400- $6,500 $3,600 $5,000 100 shares @ $90 per share 1000 A Corporate Stock Other Information A I) Has paid in advance for $6,000 worth of feed in order to get a good price on it. The foed will be delivered in May, 2019 L 2) Income and social security taxes on 2018 income (not yet paid) are estimated at $14200 Ot 3) Rhonda contributed $590,000 to get her business started OE 4) Retained earnings since the beginning of the business equals $655,000 1. What is Rhonda's owner's equity as of January 22, 20192 Answer 2. How much working capital does Rhonda have? Answer 3. What is her current ratio? Answer 4. What is her debt/asset ratio? Answer 5. What is her debt/equity ratio? Answer 6. What is her equity/asset ratio? Answer 7. Assume you are a financial consultant hired by Rhonda to analyze her financial condition. Based on this balance sheet, what part of her financial condition is most in need of improvement? WHY What does this balance sheet tell you about the amount of profit Rhonda made in 2013? Explain your answer. 8