Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use the following data to calculate the profitability and efficiency measures listed below: Gross revenue $185,000 Value of farm production $167,000 Net farm income $
Use the following data to calculate the profitability and efficiency measures listed below:
Gross revenue $185,000
Value of farm production $167,000
Net farm income $ 48,000
Interest expense $ 18,000
Value of unpaid labor $ 31,000
Opportunity cost on farm equity $ 17,300
Total asset value:beginning $400,000
ending $430,000
Farm equity: beginning $340,000
ending $352,000
CALCULATE THE FOLLOWING;
a Rate of return on assets
b Rate of return on equity
c Asset turnover ratio
d Return tomanagement
e Net farm income from operations ratio
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started