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Ivan-Balance Sheet-Beginning

(in Bushels of Wheat)

Assets Liabilities and Owner's Equity


Seed 20
Fertilizer 2
Ox 40
Land 100 Baron's Equity 162
Total 162 Total 162

Frederick-Balance Sheet-Beginning
(in Bushels of Wheat)
Assets Liabilities and Owner's Equity
Seed 10
Fertilizer 1
Ox 40
Land 50 Baron's Equity 101
Total 101 Total 101

Ivan-Income Statement
(in Bushels of Wheat)
Wheat 243
Production Expenses
Seed 20
Fertilizer 2
Ox Usage 4
Plow Usage 3 29
Earnings 214 10.7Per Acre earnings
Owner
IncomeWithdrawal
to Retained 20
Earnings 194

Frederick-Income Statement
(in Bushels of Wheat)
Wheat 138
Production Expenses
Seed 10
Fertilizer 1
Ox Usage 4
Plow Usage 1 16
Earnings 122 12.2Per Acre earnings
Owner
IncomeWithdrawal
to Retained 30
Earnings 92
Ivan-Balance Sheet-End
(in Bushels of Wheat)
Assets Liabilities and Owner's Equity
Seed 223 Liabilities (Plow) 3
Ox 36 Baron's Equity
162
Land 100 Contributed
Retained 194
Total 359 Total 359

Frederick-Balance Sheet-End
(in Bushels of Wheat)
Assets Liabilities and Owner's Equity
Seed 105
Ox 36 Baron's Equity
101
Plow 2 Contributed
Land 50 Retained 92
Total 193 Total 193