Rhonda Rancher has applied for a $$150,000.$ Her banker, Larry 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 afternoon 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 information above to complete a

Balance Sheet.

Canola on hand

Barley on hand

Growing wheat

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.$