iculations in order to get fall points. 1. Assume Cove Farms has an accounting period running from January 1 to December 31. The tables below show summarized information from Cove Farms' income statement for 2023. Inventory values Items January 1 December 31 Crop $31,500 $28,600 Livestock $32,850 $38,440 Cash Revenue and Expenses Item Amount Cash receipts from crops and livestock sale $281, 200 Government payments $23,000 Gain from the sale of stocks $2,000 Total operating expense (including interest expense) $226,000 Total interest expense $25,000 Other information Item Amount Average asset(2023) $900,000 Average owner equity (2023) $650,000 Opportunity cost of operator labor $20,000 Opportunity cost of management $6,000 Opportunity cost of capital 20%