Answered step by step
Verified Expert Solution
Question
1 Approved Answer
what is 2010 leverage ratio 2009 2010 $4,000 $60,000 $1,000 $65,000 $4,200 $40,000 $1,000 $45,200 $100,000 $20,000 $320,000 $15,000 S455,000 S520.000 $110,000 $18,000 $310,000 $15,000
what is 2010 leverage ratio
2009 2010 $4,000 $60,000 $1,000 $65,000 $4,200 $40,000 $1,000 $45,200 $100,000 $20,000 $320,000 $15,000 S455,000 S520.000 $110,000 $18,000 $310,000 $15,000 S453,000 5498.200 Green Farms Balance Sheet ASSETS Current assets Cash and equivalents Grain and livestock inventory Other current farm assets Total current assets Noncurrent assets Machinery and equipment Buildings Land Other noncurrent farm assets Total noncurrent assets TOTAL FARM ASSETS LIABILITIES Current liabilities Notes payable Accounts payable Current portion of term debt Other current farin liabilities Total current liabilities Noncurrent liabilities Deferred portion of term debt Total noncurrent liabilities TOTAL FARM LIABILITIES NET WORTH Total net worth TOTAL LIABILITIES AND NET WORTH Green Farms Income Statement Value of farm production Non-depreciation operating expenses Depreciation Interest expense NET FARM INCOME FROM OPERATIONS $14,000 $2,325 $12,000 $15,000 $43,325 $9,000 $1,582 $14,000 $20,000 $44,582 S150,000 S150,000 S193.325 S136,000 $136,000 S180.582 $326,675 S520.000 $317,618 5498 200 2009 $145,000 S76,538 $15,000 S14,571 $38.891 2010 S172,000 $79,321 $16,000 $14.570 S62.109 Green Farms Other Information Family living withdrawals Non farm income Income tax expense Othe income from farm assets Prin. Payments on current portions term debt/cap leases Interest payments on term debt and capital leases 2009 $30,000 SO $9,091 SO SI2,000 $13,500 2010 $34,500 SO $6,700 SO $14,000 SI 2240 Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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