Fill in the charts and state how you got each number.

The Income Statement and making accrual adjustments, with balance sheet review

Here is the completed Statement of Cash Flows for Burr Oak Farm for the past year:
Cash In			Cash Out
Crop Sales	$415,000		Farm cash expenses	$305,000
Machinery Sales	$105,000		Machinery purchases	$175,000
Loans received	$215,000		Loans repaid	$192,000
Nonfarm income	$42,000		Nonfarm expenses	$61,000
Total	$777,000		Total	$733,000
Here are their Beginning and Ending Balance Sheets (cost values). Fill in the blanks on the Ending Balance Sheet. Assume they depreciated their machinery by $45000 during the year.
Beginning Balance Sheet
Assets			Liabilities
Cash on hand	$38,000		Accounts payable	$28,000
Crops in storage	$235,000		Loans	$395,000
Machinery	$455,000		Total	$423,000
Land	$585,000
Total	$1,313,000		Net worth	$890,000
Ending Balance Sheet
Assets			Liabilities
Cash on hand	$		Accounts payable	$42,000
Crops in storage	285,000		Loans	$
Machinery	$		Total	$
Land	$555,000
Total	$		Net worth	$
Now complete their Accrual Adjusted Net Farm Income Statement (from operations) below by filling in the blanks. *Accrual adjustments will not include capital purchases or sales such as land and machinery
Cash Income	$		Cash expenses	$
Accrual adjustment	$		Accrual adjustment	$
			Depreciation	$45,000
Total Farm Income	$		Total Farm Expenses	$
Net farm income	$