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Short Calculations Consider a situation where you are the manager of a farm that has just completed a year-end financial analysis in December 2020. Using
Short Calculations Consider a situation where you are the manager of a farm that has just completed a year-end financial analysis in December 2020. Using beginning and ending balance sheets as well as an income statement you calculate the following information for 2020. Net cash farm income: $ 164,333 Revenue from livestock: $ 422,750 Beginning current asset value:$ 334,568 Revenue from cropping: $ 321,583 Beginning current liabilities: $ 289,800 Ending current liabilities: $ 299,000 Beginning asset value: $1,433,550 Ending asset value: $1,398,000 Beginning equity: $ 846,225 Ending equity: $ 868,000 Interest expense: $ 38,000 Depreciation expense: $ 87,280 Inventory change: $ 0
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