Record Keeping B Agribusiness Farmers and Land Record Keeping ...

Income StatementTransfer From: Year:_____ Year:______ Year:_____ Year:_____Obtain Figures From the Revenue: $ $ $ $Total” column of the monthlySummary of all daily sales orFrom annual revenue fromCrop InsuranceDeficiency PaymentsFeed Revenuethe Sale of farm products all Livestock IncomeFound in the sales Record Poultry Revenuebook. All actual Figures Breeding Stock Cash SaleOther Farm Income (List Below):Obtain figures from “monthlysummary of all DailyOperating Expenses or fromAnnual Farm OperatingExpenses All actual figuresSee annual summary for thisObtain figure from the recordon “Money From Non-FarmSources.” All actual figures.See annual summary for thisTotal Gross Farm RevenueExpenses:Cost of Feed PurchaseCost of Current Year Market Livestock SoldOther Cash Operating ExpensesDepreciation ExpenseTotal Operating ExpensesTotal Interest ExpensesFamily Living Expenses From farm IncomeOther Farm Expenses (List Below):Total Expenses (List Below):Net Farm Income (Subtract total Expenses FromTotal Gross Farm Revenue)Non-Farm Income:Wages and TipsOther Non Farm IncomeIncome Before TaxTotal Income Tax ExpenseFamily Living Expenses From Non-Farm IncomeNet Income (Add all income and subtract allexpense)- 106 -