i am not understanding any of this. Help/point in the right direcfion would be greatly apprecited

CHAPTER 4 NET WORTH STATEMENT Fan Art Value 1 Current Asset Cached Gen.com Market lock Prepaid 3 Totalcarras Totalcar la Necurrent Act Remedies Machinery and 4 3 Land Totalcat Total It is Jmay 2 w Piese spet together it worth statement. Following several pieces of information they have collected Help the fit it all other in the attached at The fem bank account as a balance of 4.250 2 Their un inventowy is as follows 2 Totalcom in storis 44,000 bushels Carent market price is $425. b. They have 7,000 busybes contacted for March delivery at 59.00 perbel Chart soybe price is $8.50 Their livestock very is as follows: 1.200 head of 50-pound feeder Current value is $50 each BOO head of pigs weighing about 150 pounds Vides them at $100 per head 100w, valued at $150 each, odboars worth $500 each They have 300 bags of purchased seed in storage for which they paid $80 per bag In November, they applied 517,000 worth of fertilizer on their crop land. 6 They also propaid the elevator 530,000 for additional fertilizer to be delivered and applied in Aperit 7. They sold I feeder pip topbw for 8,000, to be paid when the pips we told in February The other machinery and have a depreciated value of $117,000 from their depreciation schedule, but they este market value at 640,000 9 The form bu several older buildings that added $50,000 to the purchase price of the fre 10 years ago They have deducted $24,000 in depreciation expense from that purcha, so far. Their imated me value is $30,000 10 They own 240 acres of land that they purchased years ago for $615.000. They estimate it current value at 5880,000. They also rent 500 ons of cropland for $225 per acre 11 They own a motorboated for watering worth $34,500 12 The current operating loan with Farm Credit is 5187,300, with mulated interest of 5370 They owe Crop Managers, Inc. $1,500 for taking oil samples in November 14 They owe $60,000 to Arco Credit for their combine, ut intet The last pametas made December 1 Next December 1, they will have to pay $20,000, plus interest of $4.800 They owe $200,000 for purchase of the form of interest. They made a payment last March 1. Their next payment will be March 1, principal of 516,000. plus interest Net worth CHAPTER 4 NET WORTH STATEMENT 3. a 4. It is Jamary 2 and Twin Pines Farm is putting together its annual net worth statement. Following are several pieces of information they have collected. Help them fit it all together using the attached blank statement. 1. The farn bank account has a balance of $4,250. 2 Their grain inventory is as follows: Total corn in storage is 44,000 bushels. Current market price is $4.25. b. They have 7,000 bu. of soybeans contracted for March delivery at $9.00 per bushel Current soybean price is $8.50. Their livestock inventory is as follows: 1,200 head of 50-pound feeder pigs. Current value is $50 each. b. 800 head of pigs weighing about 150 pounds. Value them at $100 per head. c. 100 sows, valued at $150 each, and 8 boars worth $500 each. They have 300 bags of purchased seed in storage for which they paid $80 per bag. 5. In November, they applied $17,000 worth of fertilizer on their crop land. 6. They also prepaid the elevator $20,000 for additional fertilizer to be delivered and applied in April 7. They sold 150 feeder pigs to a nephew for $8,000, to be paid when the pigs are sold in February Their other machinery and equipment have a depreciated value of $417,000 from their depreciation schedule, but they estimate its market value at S640,000. The farm has several older buildings that added $50,000 to the purchase price of the form 10 years ago They have deducted $24,000 in depreciation expense from that purchase, so far. Their estimated market value is $30,000 10. They own 240 acres of farmland that they purchased ten years ago for $615,000. They estimate its current value at $850,000. They also rent 500 aces of cropland for $225 per acre. 11. They own a motorboat used for waterskiing, worth $24,500. 12. The current operating loan with Farm Credit is $187,300, with accumulated interest of 59,370. 13. They owe Crop Managers, Inc. $1,500 for taking soil samples in November 8. 9 14. They owe $60,000 to AgCo Credit for their combine, at 8% interest. Their last payment was made December 1. Next December 1, they will have to pay $20,000, plus interest of S4.800 15 They owe $200,000 for purchase of the farm, ar 6% annual interest. They made a payment last March 1. Their next payment will be March 1. principal of 516,000, plus interest. Edining VOICE Double-click to hide white space Farm Assets Cost Value Market Vahe Farm Lalities Current Assets Cash on hand Gram com Grain soybeans Market livestock Investment in growing crops Prepaid expenses Supplies on hand Current Liabilities Accounts payable Current notes & operating line Accrued interest short term Accrued interest - long term Principal due in 12 months Total current assets Total current liabilities Noncurrent Assets Breeding livestock Machinery and equipment Buildings Land Noncurrent liabilities Machinery Land Total noncurrent liabilities Total noncurrent assets Total liabilities Total assets Net worth