Need Help Use the beginning and ending balance sheets and an income statements you calculate the following for the year 2012:Net cash farm income $164,333Gross cash farm incomeBeginning asset value $1,233,550 Ending asset value$744,333$1,298,000Beginning equity$846,225Ending equity$868,000Interest expense$30,000Capital asset change$-87,280Inventory change$0$15,000 unpaid labor & $15,000 unpaid managementThe rate of return on assets for 2012 was?A. 13%B. 10%C. 18%D. 6%

Average Total Assets (Beginning Asset Value + Ending Asset Value)/2Average Total Assets =…

Answered: Use the beginning and ending balance…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.1MBA

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