Inceme Statement Anabois

Use the information below about the $2023$ fiscal year to create an iecome statement for the farm. Leave any unued lines Mark and label each row. Cells will not be lighlighted on the exam:

Tobal liabilities $=$$$245,000$

Total revenue from canle sales $=$$$250,000$

Depreciation en equipment $=$$$20,000,$

Revenue from hay sales $=$$$50,000$

Interest on louns $=53,500$

Feed, laboe, maimenance, etc. expenses directly related to hay and cattle sales $=$$$123,000$

Opportunity cost of labor $=$$$42,500$

$\backslash$table$[[$trocome Stasmemt$],[$Revenes:$],[$Cattle sales,$250,000,],[$Hay sales,$50,000,],[$Total Renenve,,$300,000],[$Expenes:$],[$Depretiation$,20000,],[$intevest$,8500,],[$Feed$,$ labor, maintenance ete,$123000,],[,,151500],[$Opporiunity cost of labor,$42500,],[,,],[,,],[$Net farm incound from cpratioss$],[$Nef fum incone,,$]]$Cash Elow Payed

Complete the cash flow budget. Each period is $4$ monthe. Use an monal ieterent rate of $87\%$ for boerowing. The beginning cash balance is $$5,000.$ Kecp a minimum cash balanct of $$1,000$ on hund at the end of each period. Assume all loans are made at the beginning of the peried asd pald back at the end $($the examples we discwesed in class were made at the beginning of the period and paid back at the beginaing of the period is adjust accordingly$).$ If you have some cash left over at the end of the period, but not enough to pay the entive debt plus interest, pay the interest first $($eetire amount if possible$),$ Hem put be rest of the cash towards retiring the principal.