BASICINCOME STATEMENT TOTAL GROSS REVENUE AB C D Gross Rever

BASICINCOME STATEMENT TOTAL GROSS REVENUE A+B C D Gross Revere Total Operating Expense Net Income from o\' NETINCOME West Texas Ranch Total $ 10,193.00 S 32,870.00 S 48,000.00 Utilities Non Cash Transfer out Gains S 48,000.00 $ 5,825.00 S 10,500.00 s 5470.00 $ 18,454.00 S 38,629.00 $ 175,838.00 S 23,400.00 Taxes Repairs and Maintenance

Solution

Income Statement $ Gross Revenue Cash Receipts A       175,838 Non Cash transfer out B          48,000 Inventory&Accounts Receivable change C            2,900 Gross Revenue A+B+C=D       226,738 Expenses Inventory Change (Expenses) E            5,470 Utilities F          10,193 Depreciation G          32,870 Labor H          48,000 Veterinary I            5,825 Repairs and Maintenance J          38,629 Feed K          23,400 Total Operating expenses E+ F+ G+ H+ I+ J+ K= L       164,387 Interest Expense M          18,454 Net Income from Operation D- (L+M) = N          43,897 Capital Gain (Loss) O       (13,364) Taxes P          10,500 Net Income N + O - P = Q          20,033