For each of the financial events occurring on a farm during the calendar year...

a a a a a a ($5,200) 3. For each of the financial events occurring on a farm during the calendar year, indicate the correct impact with respect to: (1) Net Worth; and (2) Net Farm Income (10 points) ** Circle the correct choice (a-increase, b-decrease, c-no effect) on each line ** (1) Net Worth (2) Net Farm Income a. Purchased land for $110,000 b b C b. Purchased fertilizer for $8,000 on account from Ag Supply Co. b b C c. Made an $8,200 payment to Ag Supply Co., for payment of fertilizer acquired above. Of the total $8,200 payment, ( $200 is interest d. $3,000 of the fertilizer (inventoried above), is applied to the grain field b b e. Grain ($30,000) is produced and placed in inventory b b f. Part of the grain above (inventory value of $13,000) is removed from storage and sold for $17,000 b (a g. Paid out $2,300 for family consumption a b c b C vh. Made $4,600 of off-farm income and invested into farm ( b bo Vi. Made principal payments on debt equal to $5,900 b c b c j. Paid out $2,400 interest on debt b b a a a a a a a a a C 2 a a a a a a ($5,200) 3. For each of the financial events occurring on a farm during the calendar year, indicate the correct impact with respect to: (1) Net Worth; and (2) Net Farm Income (10 points) ** Circle the correct choice (a-increase, b-decrease, c-no effect) on each line ** (1) Net Worth (2) Net Farm Income a. Purchased land for $110,000 b b C b. Purchased fertilizer for $8,000 on account from Ag Supply Co. b b C c. Made an $8,200 payment to Ag Supply Co., for payment of fertilizer acquired above. Of the total $8,200 payment, ( $200 is interest d. $3,000 of the fertilizer (inventoried above), is applied to the grain field b b e. Grain ($30,000) is produced and placed in inventory b b f. Part of the grain above (inventory value of $13,000) is removed from storage and sold for $17,000 b (a g. Paid out $2,300 for family consumption a b c b C vh. Made $4,600 of off-farm income and invested into farm ( b bo Vi. Made principal payments on debt equal to $5,900 b c b c j. Paid out $2,400 interest on debt b b a a a a a a a a a C 2