Homework 2 - Income Statement and Analysis AGEC 3423 1. Income statement. The income or earnings statement is a summary of the income and expenses incurred over a period of time, usually one year. 2. Farm business earnings information. Given the following information for High Hopes Farm, complete the Farm Credit Services earnings statement (Income Statement). A hard-copy of the form is available on Canvas along with the excel file. Homework 2 - Income Statement and Analysis AGEC 3423 1. Income statement. The income or earnings statement is a summary of the income and expenses incurred over a period of time, usually one year. 2. Farm business earnings information. Given the following information for High Hopes Farm, complete the Farm Credit Services earnings statement (Income Statement). A hard-copy of the form is available on Canvas along with the excel file