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Cost Valuation Cash on hand $ 25,000 $ 25,000 7. Use the following net worth statement to answer the questions that follow Beginning of the
Cost Valuation Cash on hand $ 25,000 $ 25,000 7. Use the following net worth statement to answer the questions that follow Beginning of the Accounting Year Market Valuation End of the Accounting Year Market Valuation $ 35,000 Cost Valuation $ 35,000 Other current assets $ 200,000 $ 200,000 $ 240,000 $ 240,000 Noncurrent assets $ 300.000 $350.000 $275,000 Total assets $525,000 $575,000 $550,000 $325.000 $ 600,000 Current liabilities $155,000 $ 155,000 $185,000 $ 185,000 Noncurrent liabilities $185.000 $185.000 $150.000 $150,000 Total liabilities $340,000 $340,000 $335,000 $335,000 Net worth $ 185,000 $235,000 $215,000 $265,000 What is the working capital at the beginning of the year? At the end of the year? I How much was their net cash flow for the accounting year? If the accrual net farm income for the accounting year was $100,000, how much of it did the farm withdraw for family living and other nonfarm expenses
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