Fill in all of the boxes to complete the financial statements

Balance Sheet/(cost basis) 2014 2015 2014 2015 Assets Current assets Cash Market Livestock Liabilities Current Liabilities Accounts Payable Cur. Port term debt 50,000 20,000 70,000 65,000 48,000 113,000 10,000 40,000 50,000 13,000 46,000 59,000 Total Current assets Total Cur. Liabilities Non-current Assets Machinery Building Land Total NC Assets Non-current Liabilities Mortgage Total NC Liabilities 380,000 380,000 334,000 334,000 350,000 130,000 550.000 1,030,000 310,000 95,000 550,000 955,000 Total Liabilities 430,000 393,000 Total Assets 1,100,000 1,068,000 Owner Equity 670,000 675,000 Income Statement Statement of Owner Equity January 1, 2008 to December 31, 2008 Jan 1, 2008 to Dec 31, 2008 670,000 Revenue Cash Receipt Chg. Livestock Inventory Gross Revenue 725,000 28000 753,000 Beginning Owner Equity Ches. Contrib. Cap.RE Net Income Withdrawals Contributed Capital Total Change in Contributed Capital and retained earnings Ending Owner Equity 0 520,000 3,000 Expenses Cash op. expense Noncash adj. Change Acct. Pay. Depreciation Machinery Building Total Operating expense Interest Expense Total Farm Expenses 40,000 35,000 44.000 NFIO 25.000 Income Taxes Net Income Accessibility: Investigate (36 points) Eric has gathered the information on the next page. He started to set up some financial statements, but got lost. Fill in the missing information. He did not buy or sell any machinery or buildings during the year. There is no non-farm income. There was no contributed capital during the year