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Unformatted text preview: (4,006) Total Interest Expense 29,577 Total Expenses 251,133 Net Farm Income from Operations 53,566 Gain/Loss on Sale of Farm Capital Assets Gain/Loss Due to Change in General Base Values of Breeding Livestock** Net Farm Income, Accrual Adjusted 53,566 Miscellaneous Revenue 150 Miscellaneous Expense Total Miscellaneous Revenue and Expense 150 Income Before Taxes and Extraordinary Items 53,716 Cash Income Tax Expense 6,495 +/- Change in Income Tax Accruals 2,760 +/- Change in Current Portion of Deferred Taxes (Schedule 6) 24,779 +/- Change in Non-Current Portion of Deferred Taxes (Schedule 6) 906 Total Income Tax Expense (Farm Business Only) 34,940 Income Before Extraordinary Items 18,776 Extraordinary Items (Net of Tax) Net Income, Accrual Adjusted 18,776 $ * Note: CCC loans proceeds are not included ** See Appendix F for further discussion....
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This note was uploaded on 08/08/2008 for the course AAE 320 taught by Professor Mitchell during the Spring '08 term at University of Wisconsin.
- Spring '08