A farmer reports the following financial information for the last year’s operation: Item Amount (USD) Current assets 100,000 Net worth, end of year 100,000 Depreciation 10,000 Operating expenses...

A farmer reports the following financial information for the last year’s operation: Item Amount (USD) Current assets 100,000 Net worth, end of year 100,000 Depreciation 10,000 Operating expenses 30,000 Ratio of total liability to net worth 3 Proprietor withdrawals 25,000 Change in inventory 15,000 Capital purchases 20,000 Operating receipt 100,000 Noncurrent assets 200,000 Current liabilities 50,000 Use this information to complete the year – end balance sheet below Assets Liabilities & Net Worth Current______________ Current__________________ Noncurrent____________ Noncurrent_______________ Networth_________________ Total_________________ Total____________________

May 26, 2022
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