I need help constructing the balance sheet, I am not sure if I am doing it correctly.
a. You have $50,000 farm-related cash on hand in checking and savings. 1. Inventory of Crops and Livestock is as follows: Total corn in storage is 25,000 bushels. Current market price is $4.50/bu. b. Total Soybeans in storage are 3,500 bushels. Current market price is $10.75 c. 21 steer calves valued at $1,000.00/head. d. 16 heifer calves valued at $900.00/head. e. 49 bred cows (worth $1,200 each) and 2 bulls (worth an average of $2,500 each). (Hint: cows and bulls are your breeding livestock) 2. Feed and supplies: a) Corn silage: 300 tons valued at $35 per ton b) Haylage: 100 tons worth $75 per ton c) Hay: 150 tons worth $125 per ton d) Corn Stalks: 50 tons at $35 each 3. Your current operating loan (due within one year) with Farm Credit is $90,000, with accrued interest of $4,500. 4. In November of 2020, you prepaid $36,000 for corn seeds for 2021's crops. 5. You have 500 gallons of diesel fuel on hand (currently worth $2.25/gallon) 6. Your machinery and equipment have a depreciated book value of $235,000 from your depreciation schedule, but you estimate its market value at $355,000. 7. The farm has several buildings that have a depreciated book value of $190,000. Your estimated market value is $385,000. 8. You sold a heifer calf to your niece for a 4-H project. You're still waiting for her to pay you the $700 you agreed upon. 9. You own 640 acres of farmland that was purchased in bits and pieces over the years for total of $2,500,000. Currently, land in your area is valued at $8,500/ac. 10. You own hunting cabin and a little land, worth $75,000 and a personal car worth $12,000. 11. You make some money on the side doing trucking, earning $38,000/year. 12. On December 20th, 2020, you picked up more hay for your livestock worth a total of $10,000. You will not pay for this feed until mid-January of 2021. The hay is included in your inventory above. 13. You still owe Soil Testers, Inc. $1,000 for soil sampling. 14. Your neighbor still owes you the second of two installment payments of $8,000 for helping with 2020's harvest. 15. The vet bill arrived in the mail today (January 1) and showed the farm's outstanding vet bill for 2020 at $1,500. 16. On your farm's credit card, you have a balance of $4,200. Your personal credit card has a balance of $2,500. 17. You started the year with student loans totaling $16,000, but you paid off $3,000 in principal (balance remaining: $13,000) and $600 in interest. Below find a listing of longer-jerm liabilities: Description Purpose Date Original Incurred Amount Remaining Current Interest Balance at Portion Accrued end of 2021 (paid 2021) Jan. 1, 2021 $636,000 $32,000 $12,250 $70,000 $20,000 $2,000 2018 2013 $800,000 $140,000 2015 $40,000 $15,000 Mortgage Land loan Tractor loan 4WD tractor F350 Pickup loan Barn loan Equipment Forage loan Harvester $4,400 $900 2014 2016 $275,000 $50,000 $230,000 $10,000 $19,500 $10,000 $1,000 S500 To analyze the balance sheet, calculate the following: Current Ratio, Market Value Working Capital, Market Value Debt to Asset Ratio, Market Value Equity to Asset Ratio, Market Value Debt to Equity Ratio, Market Value Net Capital Ratio, Market Value Debt Structure Ratio