6. Use the following table to answer the question: Cash receipts from farm marketing Receipts of government payments Other income from farm sources Production expenses Value of real estate assets Value of non-real estate assets Financial assets Liabilities $750,000 $150,000 $100,000 $400,000 $10 million $2 million $4 million. $9 million. a. What is the Gross Farm Income? b. What is the Net Farm Income?
6. Use the following table to answer the question: Cash receipts from farm marketing Receipts of government payments Other income from farm sources Production expenses Value of real estate assets Value of non-real estate assets Financial assets Liabilities $750,000 $150,000 $100,000 $400,000 $10 million $2 million $4 million. $9 million. a. What is the Gross Farm Income? b. What is the Net Farm Income?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:6. Use the following table to answer the question:
Cash receipts from farm marketing
Receipts of government payments
Other income from farm sources
Production expenses
Value of real estate assets
Value of non-real estate assets
Financial assets
Liabilities
$750,000
$150,000
$100,000
$400,000
$10 million
$2 million
$4 million
$9 million.
a. What is the Gross Farm Income?
b. What is the Net Farm Income?
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