The Mater QUESTION 1 Income Statement Use the information from the Balance Sheet Summary and the income Statement to complete: 1) the Income Statement and 2) the Financial Summary for Your Farm Compute values for all boxes A. J. Enter only numerical values do NOT enter a dollar sign $ or a percent an ades Balance Sheet Items Summary for Your Farm Balance Sheet Items Average Value (9) Total Value of Assets 2,575,000 Total Equity Value 2,160,000 Student Support Income Statement for Your Farm Revenue: Cash crop sales Change in crop inventories Total crop revenue Market livestock sales Change in livestock accts receivable Total marker livestock revenue Govt program payments Gross revenue Current Year Value (S) 391,312 -1,120 390,192 80,153 400 80,553 21,000 A. Expenses: Purchased feed and grain Purchased market livestock Change in feed inventories Other cash operating expenses Depreciation expense Amortization of capital leases Total operating expenses Income from operations Other revenue and expenses: Total interest expense Gain on sale of capital assets: Net farm income Current Year Value (S) 22,880 0 520 246,430 35,755 0 B. C. 22,285 125.000 D. Finandal Summary for Your Farm ere to search Gain on sale of capital assets: Net farm income Financial Summary for Your Farm Current Year 60,000 20,000 80,000 Dollar Returns Measures Opportunity Cost Labor Opportunity Cost Mgt Opportunity Cost Total Return to Assets E. Return to Equity F. EBITDA G. Profitability Ratios Rate of Return on Assets (ROA) % H. Rate of Return on Equity (ROE) % 1. Operating Profit Margin (OPMR) % J. includes opportunity cost of operator and family Current Year arch