View Tell me V v A Aav to 21 T x x Av. Av Principles of Food and Agribusiness Management, Summer B 2020 Worksheet #5 - Income, Balance Sheets and Financial Ratios Worksheet due: Monday, July 27, 2020. Styles Sty Par Grower Joe's Tomato Patch Joe grows fresh market tomatoes in Southwest Florida. He his tomatoes between January 1" and May 30%. He sells to local restaurants, area farmers' market, and has an on-farm stand. Joe farms 100 acres and for simplicity, let's assume every acre is the same in overall quality. For the season ending in May 2020, Joe sold a total of 150,000 cartons (25 lbs) and received, on average $12 per carton. From his records, Joe put together his cost budget for his 2020 season. Note - all costs are expressed on a per-acre basis. Non-Harvest Variable Costs ($/ac) Land-prep 200 Plastic mulch 325 Transplants 500 Fertilizer 1,500 Plant protection chemicals 1,675 Other field materials Tractor & machinery operation 1,250 Labor (hourly) 450 Labor (piece-rate) Interest - Operating Cap (10%) 650 Total Non-harvest Variable Cost 7,165 I 300 315 200 Non-harvest Fixed Costs (S/ac Equipment ownership Land rent Overhead/Management 500 3.800 English (United States) Focus 8 Note FE asso Worksheet 5_ IncomeBalanceRatio (27July)) Design Layout References Mailings Review View Tell me 21 12 A A M Aa v to x Av. Av Style J X Total non-harvest Fixed Costs 4,500 Harvest/Pack Costs (1,500 ctns/ac, $/ac) Pick/Pack/Haul 3,750 Sell 225 1,125 Containers Organizational fees Total Harvest Cost 150 5,250 I Joe's Balance Sheet as of June 30, 2020. Assets 50,000 75,000 300,000 Cash (CA) CD (CA) Accounts receivables (CA) (1500 sto x $2/sto x 100ac) Inventory (CA Equipment & Buildings (FA) Total Assets Labilities 65,000 450.000 940,000 300,000 Accounts payable (CL) Loan balance-equipment (LL) Total abilities Owner Equity 400,000 700,000 Owner equity 240.000 words LEX English (United States) Focus Tools Table Window Help Worksheet 5_ IncomeBalanceRatio (27July)) References Mailings Review View Tell me an Layout 2 A A Aa v to x x AA- 21 T y Styles Sty Pa Questions: 1. What is Joe's total revenue during 2020? 2. What was Joe's 2020 net income from the operation? 3. If the cost and production numbers say the same next year, what is Joe's break-even price to be economically sustainable. I 4. Using the numbers in Joe's budget and balance sheet, calculate: a) Current Ratio b) Debt-Asset Ratio c) Return on Equity, and d) Asset Turnover Ratio
