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please help me answer the questions below please! Income Statement Assignment Ramona Rancher has an accounting period from January 19 to December 31. Use the

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Income Statement Assignment Ramona Rancher has an accounting period from January 19 to December 31. Use the following information to complete an income statement for Ramona and evaluate the income statement Inventory Values January 1 2018 December 31 2018 Crops $32,850 $27,440 Livestock $17,600 $29,500 Revenue and Expenses Depreciation $26,700 Crop sold Insurance $169,800 $3,800 Feed Purchased $19,800 Prop. Taxes $3,400 Interest paid $36,400 Misc. Expenses $4,800 Feeder livestock Purchased $46,500 Seed purchased $6,240 Market Livestock sold $81,660 Repairs $12,100 Vet. and health expenses $4.800 Fertilizer Expenses $9,400 Custom work (income) $3,400 Supplies $4,800 Breeding. Ivestes sale(gain) $4,600 Govt. payments (income) $9,890 Labor Hired $20,600 Fuel Expenses $5,800 Chemical expense $6,780 Gain on Machinery sale $9,100 Change in payable +$1,400 Change in interest payable ($3,400) Other informatinn Fermer expenses $9,400 Custom work (income) $3,400 Supplies $4,800 Besedine livestock sale gain) $4,600 Labor Hired $20,600 $9,890 Govt payments (income) Chemical expense Fuel Expenses $5,800 $6,780 Gain on Machinery sale $9,100 Change in interest payable ($3,400) Change in payable +$1,400 Other Information $785,000 Family living expense $38,000 $24,000 Axerase. Asset Value (12/31/18) Opportunity cost of Labor Opportunity cost of Management Opportunity cost of Capital Income tax paid $10,700 $12,000 Average Owner's Equity (12/31/18) $394,000 9% Income Statement Questions: 1. What is Return on AssetROA)X? 2. What is Return on Equity(ROE)X? 3. What is the Operating Profit Margin? 4. What is the Asset turnover ratio? 5. What is the Operating expense ratio? 6. Net Farm income from operations ratio? 7 Can you know if equity went up or down from the income statement? How can you know

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