III. Short Exercises
Operating expenses $390,000
Interest expense 30,000
Income taxes 40,000
Miscellaneous expense 5,000
Loss on the sale of a capital asset 20,000
Gross revenue 550,000
a. Using the information above, calculate net farm income from operations.
b. Using the information above, calculate net farm income.
c. Using the information above, calculate net income. Get Finance homework help today
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