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Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use

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Use the following information to calculate value of farm production, total farm operating expenses, interest expense, net farm income from operations ands owner equity. Use the value of farm production format. Crop sales of new crop Crop sales of old crop Change in crop inventory from 1/10 to 12/10 Change in accounts payable from 1/10 to 12/10 Change in accounts receivable from 1/10 to 12/10 Government payments received in 2010 Cash received for sale of tractor Market livestock purchases Feed purchases Cash paid for operating expenses Capital gain on sale of tractor Change in prepaid expenses from 1/10 to 12/10 Cash paid for interest expense $90,000 35,000 -15,000 -7,500 20,400 12,500 30,000 3,000 25,000 75,000 4,300 2,000 10,000

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