|
|
Assets |
|
Liabilities |
|
|
|
|
|
|
Balance Sheet |
Beginning |
Ending |
|
Beginning |
Ending |
|
Income Statement - Accrual Adj. |
Income |
|
|
Cash on Hand |
1,500 |
7,591 |
Accounts Payable (Exp) |
2,000 |
2,000 |
|
Cash Income (adj. for cull lvstk sales) |
|
$358,424 |
|
|
Crops Held for Seed (Exp) |
8,400 |
8,400 |
Accrued Interest (Exp) |
12,540 |
11,889 |
|
Non-Cash Income Adjustments |
|
0 |
|
|
Crops Held for Sale (Inc) |
200,000 |
200,000 |
Current Principal |
11,908 |
12,559 |
|
Non-Cash Income (Raised Brdg Lvstk) |
|
0 |
|
|
Market Livestock (Inc) |
0 |
0 |
Other Current Liability (Exp) |
10,000 |
10,000 |
|
Capital
Gain/Loss on Breeding Lvstk (Net) |
0 |
|
|
Other Current Assets (Inc) |
15,000 |
15,000 |
Short Term Notes Payable (Exp) |
0 |
0 |
|
Gross Revenue |
|
$358,424 |
|
|
Cash Invt Growing Crops (Exp) |
0 |
0 |
Other Current Liab. (Not Adj.) |
0 |
0 |
|
|
|
Expense |
|
|
Supplies&Prepaid Exp. (Exp) |
10,000 |
10,000 |
Def. Tax on Current Assets |
0 |
0 |
|
Cash Expense (Excluding Interest) |
|
278,020 |
|
|
Total Current Assets |
234,900 |
240,991 |
Operating Loan Carryover |
0 |
0 |
|
Non-Cash Feed Inventory Adjustment |
|
0 |
|
|
Non-Current Assets |
|
|
Total Current Liab. |
36,448 |
36,448 |
|
Other Non-Cash Non-Interest Expense |
|
0 |
|
|
Mach. & Equipment |
325,000 |
292,500 |
Non-Current Liabilities |
|
|
|
Depreciation (Land, Bldgs, Equip.) |
|
34,500 |
|
|
Breeding Livestock |
0 |
0 |
Prin. on T.D.
& C.L. |
255,399 |
242,840 |
|
Total Operating Expense |
|
312,520 |
|
|
Real Estate (Land, Bldgs, Impr) |
1,040,000 |
1,038,000 |
Total Business Liab. |
291,847 |
279,288 |
|
Cash Int. Exp. - T.D. & C.L. |
|
12,540 |
|
|
Total Business Assets |
1,599,900 |
1,571,491 |
Business Net
Worth |
1,308,053 |
1,292,204 |
|
Cash Int. Exp. - Operating |
|
4,865 |
|
|
|
|
|
Change in Equity From Beginning to End of Year |
-15,849 |
|
Non-Cash Interest Expense |
|
-651 |
|
|
|
|
|
|
|
|
|
Total Expense |
|
$329,274 |
|
|
Cash Flow Statement |
|
Inflows |
|
|
OutFlows |
|
|
|
|
|
|
Crop Sales & Net Insurance Payments |
|
319,920 |
Operating Expenses |
No Interest > |
278,020 |
|
Net
Business Income From Operations |
29,151 |
|
|
Mrkt & Cull Livestock Sales |
|
0 |
Other Cash Business Expense |
|
0 |
|
Net Business Income |
|
29,151 |
|
|
Government Payments |
|
38,505 |
Cash Int. Exp. - T.D. & C.L.* |
|
12,540 |
|
Income
& SS Taxes (Cash & Non-Cash) |
0 |
|
|
Other Cash Business Income |
|
0 |
Cash Int. Exp. - Operating |
7.0% |
4,865 |
|
Net Income |
|
$29,151 |
|
|
Operating Loan Proceeds |
50.0% |
139,010 |
Loan Prin. Payments - T.D. &
C.L. |
|
11,908 |
|
|
|
|
|
|
Loan Proceeds Capital Assets |
|
0 |
Breeding Livestock Asset
Purchases |
|
0 |
|
Statement of Owner Equity |
|
|
|
|
Non-Business Inflows/Revenue |
|
0 |
Mach & Equip & Real
Estate Purchase |
0 |
|
Beginning Net Worth (Cost/Mrkt) |
|
1,308,053 |
|
|
Other Nonfarm Inflows, net of taxes |
|
0 |
Owner withdrawals |
|
45,000 |
|
Net Income |
+ |
29,151 |
|
|
Other Nonfarm Inflows, net of taxes |
|
0 |
Cash Taxes Paid (Income & SS) |
|
0 |
|
Non-Business Cash Inflows |
+ |
0 |
|
|
Total Cash Inflows |
|
$497,434 |
Other Cash Outflows (Not Expenses) |
|
0 |
|
Owner Withdrawals (Cash) |
- |
45,000 |
|
|
* T.D. = Term Debt, C.L. = Capital Lease |
|
Subtotal |
$352,333 |
|
Asset Valuation Change or Cont./Distrib. |
+/- |
0 |
|
|
|
|
|
Operating Loan Prin. Payments |
|
$139,010 |
|
Calculated Ending Net Worth |
= |
1,292,204 |
|
|
|
|
|
Total Cash Outflows |
|
$491,343 |
|
Reported
Ending Net Worth (Cost/Mrkt) |
1,292,204 |
|
|
Change in Cash Flow (Begin + Net Flow) from previous year |
Annual
Net Cash Available (Begin + Net Flow) |
7,591 |
|
Discrepancy |
|
0 |
|