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Farmer Joe operates a 500-acre fresh market tomato farm. Download his Enterprise budget, 2022 Income statement, and 2022 Balance Sheet, which are posted in Canvas
Farmer Joe operates a 500-acre fresh market tomato farm. Download his Enterprise budget, 2022 Income statement, and 2022 Balance Sheet, which are posted in Canvas as part of this test. Read each question carefully. Record and submit your answers as a Word document. Ten (10) questions, each worth 2 pts - one point for the work, and one point for the correct answer. Important to show your work so that you can receive some credit if your arithmetic is wrong. 1. If the price of tomatoes averaged $10.25 per carton during the 2021-2022 year: a. How many cartons did Joe sell during the 2021-2022 fiscal year? b. What was his average per acre marketable yield? 2. If Joe expects tomato prices to be at least $9 per carton, how many cartons must he sell to "break-even?" 3. How low do tomato prices have to go before Joes decides to abandon his crop? 4. Calculate the following performance metrics using Joe's accompanying financial statement: a. 2022 ROA b. 2022 ROE c. 2022 Working capital d. 2022 Current ratio e. 2022 Net
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