Rhonda Rancher has applied for a $$150,000.$ Her banker, Lary Loanmaker, says the

old balance sheet on file must be brought up to date before a loan will be considered.

Rhonda spends the rest of the aftemoon taking inventory and gathering other

information. Complete the balance sheet on the attached pages using the information

below compiled by Rhonda on Feb $15,2024.$ Use the intormation above to complete a

Balance Sheet.

Canola on hand

Barley on hand

Growing wheat

Farm mortgage $($due $4/01/24)$

$$15,000$ accrued interest

Balance after $4/01/24$ payment

Buildings & improvements

Note payable on feeder cattle $($all due $\frac{11}{15}\frac{?}{24})$

Calves $($to be sold in May $2024)$

Feeder cattle $($to be sold in $60$ days$)$

Machinery Note payable at the bank $($all due April $30,2026)$

Vehicles

Other machinery & equipment

Loan on beef cows $($due $10/01/24)$

$$3,900$ accrued interest

Balance after $10/1/24$ payment

Land $($present market value$)$

per acre

Beef breeding cows

per head

Bulls

Checking account balance

$$25,500$

Account payable at Joe's Feed & Seed

Farm machinery and equipment

Account recelvable

Shop Equip. $($welder$,$ lathe, drill press, etc.$)$

John Deere $($Deere$)$ stock

per share

Other Information

$135$ tons $9$$$725$ pertion

$90$ tons $205\mathrm{.}00$ pertion

$360$ acres $$$28\mathrm{.}50$ per acre

$$75,000$ principat

$$1,250,000$

$$80,000$

$$65,000$

$95$ head $9$$$425$ per head

$150$ head $9$$$975$ per head

$$280,000$

$$235,000$

$$180,500$

$$12,000$ principal

$$45\mathrm{.}000$

$1280$ acres @$$3,500$

$125$ head $$$1,250$

$4$ head $$$3,000$ each

$$7,000$

$$475,000$

$$8,500$

$$12,000$

$500$ shares $$$250$

Has paid in advance for $$10,000$ worth of feed to get a good price on it$.$ The

feed will be delivered in May, $2024.$

Income and taxes on $2023$ income is estimated at $$45,500.$

$.$ Rhonda contributed $$700,000$ to get her Farm started.

Retained earnings since the beginning of the Farm equals $$925,000.$

Fill in the balance sheet table.