Files Editing Vaice Sensitivity Editor Reuse Fill complete an income statement for Smith Brother's using the attached form then complete the calculations that follow Inventory Values January 1 December 31 Crops Livestock $32.850 $25.440 $18,600 $31,500 Revenue and Expenses Depreciation 28,900 Crops Sold Feed Purchased $189,600 21,200 Insurance 3.800 Property Taxes 3.400 Interest Paid 33,400 Misc. Expenses 5.800 Feeder Livestock Purch. 46,500 Market Livestock Sold 91.660 Seed Purchased 6.410 Repairs 12 100 Vet. & Health Expense 4.800 Fertilizer Exp. 9.400 Income from Custom Work 4.700 Supplies 4,800 Gain on Sale of Labor Hired 22,600 Breeding Stock 7,600 Fuel Expense 5.800 Gov't payment income 8,890 Gain on mach. sale 11 100 Chemical exp 9,780 Change in interest payable (2,400) Change in acct, payable +1,400 Other Information Average Asset Value (2007) $785,000 Opportunity Cost of Operator Family Living Expenses $ 38,000 Income Tax Paid 10,700 24,000 Owner's Equity (12/31) $402,000 Labor Opportunity Cost of Operator Average Equity Value $375,675 12,000 Management Opportunity Cost of Capital 9% Display Settings Focus DO