C44 fx D Ending Beginning Income Cash income Sale of Livestock, other bought for resale Sales of market livestock, grain, produce Cooperative distributions paid Agriculture Program Payments + Crop Insurance Proceeds . Custom Hire Income H0 Other Cash income 11 Sales of Breeding Livestock 12 a. Total Cash Income S $ $ Income Ad ustments Crops held for sale or feed Market Livestock Accounts Receivable Unpaid Coop, Distributions Breeding Livestock $ $ $ S $ $ $ $ $ was S 5 $ $ 5 $ $ Subtotal of Adjustments d. Value of home used production le. Gross Farm Revenues (a+b-c+d) d. 13 Expense Adjustments Investments in growing crops Commercial Feed on Hand Prepaid Expenses Supplies On Hand Beginning 5 $ S $ Ending 5 s $ $ Ending $ $ $ 5 Beginning S 5 s 5 Accounts Payable Fam Taxes Due Accrued Interest Subtotal of Adjustments 14 Expenses 15 Cash Expenses 16 Carand Truck Expenses 17 Chemicals 16 Conservation Expense 19 Custom Hire 20 Employee Benefits 21 Feed Purchased 22 Fertilizer and Lime 23 Freight, Trucking 24 Gasoline, Fuel Oil 25 insurance 20 Interest Paid 27 Labor Hired 28 Pension Profit Sharing Plans 29 Rent or Lease Payments 30 Repairs, Maintenance 31 Seeds Plants 22 Storage, Warehouse 33 Supplies Purchased 34 Taxes (farm) 35 Utilities 30 Veterinary fees, Medicines 37 Other Cash Expenses 30 Livestock Purchased t. Total Cash Expenses S $ $ $ $ $ $ $ 5 5 $ $ $ $ $ $ $ $ $ 5 5 $ $ L. Depreciation i. Gross Farm Expenses (fig-hul) $ s k. Net Farm Income from Operations (0-1) L Sales of Farm Capital Assets m. Cost Value of Items Sold n. Capital Gains or losses (m) OM o. Net Farm Income (ken) 42 Other information Average AssetValue(2018) 44 Opportunity Cost of Labor & Mamt- 45 Opportunity Cost of Capital 41 Income Tax Pald (2018) Average Equity Value (2018) $785,000.00 $35,000.00 5.00% $10,700.00 $375,675.00 D Sheet1 Sheet2 Sheet3 + BUS-336 Farm and Ranch Management Income Statement Assignment Revenue Crops Sold- $189,600.00 Market Livestock Sold- $91,660.00 Income from Custom Work- $4,700.00 Government Program Payments- $8,890.00 Gain on Machinery Sale- $11,100,00 Expenses Depreciation- $28,900.00 Feed- $21,200.00 Property Taxes $3,400.00 Misc Expenses- $5,800.00 Repairs- $12,100.00 Fertilizer- $9,400.00 Supplies $4,800.00 Labor- $22,600.00 Fuel- $5,800.00 Insurance $3,800.00 Interest Paid $33,400.00 Seed- $6,410.00 Veterinarian- $4,800.00 Chemicals $9,780.00 Adjustments Inventory Values Crops- Livestock- 1/1/2018 $32,850.00 $18,600.00 12/31/2018 $25,440.00 $31,500.00 Expense Values Accounts Payable Accrued Interest- 1/1/2018 $1,400.00 $ $2,800.00 $ 12/31/2018 2,800.00 400.00 Other Information Average Asset Value (2018)- $785,000.00 Opportunity Cost of Labor & Mgmt- $36,000.00 Opportunity Cost of Capital- 5.00% Income Tax Paid (2018)- $10,700.00 Average Equity Value (2018)- $375,675.00 BUS-336 Income Statement Assignment Instructions Download the following files from Canvas: BUS-336 Income Statement Information.pdf BUS-336 Income Statement Template.xls. Using the information your learned in Chapter 5, input the various items listed on the income Statement Info into their correct spot on the Income Statement Template in MS Excel. All of the items listed in the info sheet will need to be accounted for in the Income Statement. The blue colored cells on the Income Statement are where you will input the data. You WILL NOT use all the cells. Once you have completed the Income Statement in MS Excel, save it replacing the word "Template" with your last name. Use the Income Statement you created to complete the BUS-336 Income Statement Analysis Questions quiz. After you complete the quiz, submit your completed Income Statement MS Excel file into the assignment on Canvas titled "BUS-336 Income Statement Assignment File Submission." C44 fx D Ending Beginning Income Cash income Sale of Livestock, other bought for resale Sales of market livestock, grain, produce Cooperative distributions paid Agriculture Program Payments + Crop Insurance Proceeds . Custom Hire Income H0 Other Cash income 11 Sales of Breeding Livestock 12 a. Total Cash Income S $ $ Income Ad ustments Crops held for sale or feed Market Livestock Accounts Receivable Unpaid Coop, Distributions Breeding Livestock $ $ $ S $ $ $ $ $ was S 5 $ $ 5 $ $ Subtotal of Adjustments d. Value of home used production le. Gross Farm Revenues (a+b-c+d) d. 13 Expense Adjustments Investments in growing crops Commercial Feed on Hand Prepaid Expenses Supplies On Hand Beginning 5 $ S $ Ending 5 s $ $ Ending $ $ $ 5 Beginning S 5 s 5 Accounts Payable Fam Taxes Due Accrued Interest Subtotal of Adjustments 14 Expenses 15 Cash Expenses 16 Carand Truck Expenses 17 Chemicals 16 Conservation Expense 19 Custom Hire 20 Employee Benefits 21 Feed Purchased 22 Fertilizer and Lime 23 Freight, Trucking 24 Gasoline, Fuel Oil 25 insurance 20 Interest Paid 27 Labor Hired 28 Pension Profit Sharing Plans 29 Rent or Lease Payments 30 Repairs, Maintenance 31 Seeds Plants 22 Storage, Warehouse 33 Supplies Purchased 34 Taxes (farm) 35 Utilities 30 Veterinary fees, Medicines 37 Other Cash Expenses 30 Livestock Purchased t. Total Cash Expenses S $ $ $ $ $ $ $ 5 5 $ $ $ $ $ $ $ $ $ 5 5 $ $ L. Depreciation i. Gross Farm Expenses (fig-hul) $ s k. Net Farm Income from Operations (0-1) L Sales of Farm Capital Assets m. Cost Value of Items Sold n. Capital Gains or losses (m) OM o. Net Farm Income (ken) 42 Other information Average AssetValue(2018) 44 Opportunity Cost of Labor & Mamt- 45 Opportunity Cost of Capital 41 Income Tax Pald (2018) Average Equity Value (2018) $785,000.00 $35,000.00 5.00% $10,700.00 $375,675.00 D Sheet1 Sheet2 Sheet3 + BUS-336 Farm and Ranch Management Income Statement Assignment Revenue Crops Sold- $189,600.00 Market Livestock Sold- $91,660.00 Income from Custom Work- $4,700.00 Government Program Payments- $8,890.00 Gain on Machinery Sale- $11,100,00 Expenses Depreciation- $28,900.00 Feed- $21,200.00 Property Taxes $3,400.00 Misc Expenses- $5,800.00 Repairs- $12,100.00 Fertilizer- $9,400.00 Supplies $4,800.00 Labor- $22,600.00 Fuel- $5,800.00 Insurance $3,800.00 Interest Paid $33,400.00 Seed- $6,410.00 Veterinarian- $4,800.00 Chemicals $9,780.00 Adjustments Inventory Values Crops- Livestock- 1/1/2018 $32,850.00 $18,600.00 12/31/2018 $25,440.00 $31,500.00 Expense Values Accounts Payable Accrued Interest- 1/1/2018 $1,400.00 $ $2,800.00 $ 12/31/2018 2,800.00 400.00 Other Information Average Asset Value (2018)- $785,000.00 Opportunity Cost of Labor & Mgmt- $36,000.00 Opportunity Cost of Capital- 5.00% Income Tax Paid (2018)- $10,700.00 Average Equity Value (2018)- $375,675.00 BUS-336 Income Statement Assignment Instructions Download the following files from Canvas: BUS-336 Income Statement Information.pdf BUS-336 Income Statement Template.xls. Using the information your learned in Chapter 5, input the various items listed on the income Statement Info into their correct spot on the Income Statement Template in MS Excel. All of the items listed in the info sheet will need to be accounted for in the Income Statement. The blue colored cells on the Income Statement are where you will input the data. You WILL NOT use all the cells. Once you have completed the Income Statement in MS Excel, save it replacing the word "Template" with your last name. Use the Income Statement you created to complete the BUS-336 Income Statement Analysis Questions quiz. After you complete the quiz, submit your completed Income Statement MS Excel file into the assignment on Canvas titled "BUS-336 Income Statement Assignment File Submission