Use the following information to develop both a beginning and ending year $($January $1,2023,$ and January $1,2024)$ balance sheet for this example crop and stocker cattle farm. I would strongly recommend using the OSU example balance sheet simple template that is posted to the Canvas site for this class, or a similar spreadsheet template, because later on we are going to need the differences between beginning and ending values $($so if you use a spreadsheet template it will do the calculations for you$).$ This will be part one of a couple of assignments we will build on using this example farm. Whatever mechanism you use, save your result with a unique file name somewhere that you can access it later $($thumb drive, your computer, cloud$)$ and turn in it$.$

January $1,2023$ inventories: Cash and checking account balance $$115,250\mathrm{.}00.$ Accounts receivable $$17,750\mathrm{.}00.$ Supplies on hand $$4,000\mathrm{.}00.$ Investment in growing wheat and canola $$200,000(1000$ acres at $$200\mathrm{.}00.$ Grain on hand bu$.$ at $$\frac{5\mathrm{.}58}{b}u).$ Stocker cattle on wheat pasture $$528,750\mathrm{.}00(450$ hd$.$ At $$1,175\mathrm{.}00$ each$).$ Machinery and equipment value $$847,375\mathrm{.}00.$ Building value $$128,000\mathrm{.}00.$ Owned land value $$1,400,000\mathrm{.}00.$ Operating loan balance $$108,000\mathrm{.}00,$ and stocker cattle loan balance $$475,200\mathrm{.}00($again$,$ depending on the template you use you may need to combine these on one line as a current liability$).$ Accounts payable $$7,575\mathrm{.}00.$ Accrued interest $$22,000\mathrm{.}00.$ Machinery loan total balance $$456,166\mathrm{.}00,$ with $$75,545\mathrm{.}00$ principle due within next year. Real estate loan balance $$487,900\mathrm{.}00,$ with $$17,775\mathrm{.}00$ principle due within next year.

January $1,2024$ inventories: Cash and checking account balance $$135,250\mathrm{.}00.$ Accounts receivable $$18,000\mathrm{.}00.$ Supplies on hand $$5,600\mathrm{.}00.$ Investment in growing wheat and canola $$190,000(1000$ acres at $$190\mathrm{.}00).$ Grain on hand bu$.$ at $$\frac{6\mathrm{.}02}{b}u.$ Stocker cattle on wheat pasture $$562,500\mathrm{.}00(450$ hd$.$ at $$1,250\mathrm{.}00$ each$).$ Machinery and equipment value $$795,375\mathrm{.}00.$ Building value $$128,000\mathrm{.}00.$ Owned land value $$1,200,000\mathrm{.}00.$ Operating loan balance $$113,000\mathrm{.}00,$ and stocker cattle loan balance $$525,000\mathrm{.}00($again$,$ depending on the template you use you may need to combine these on one line as a current liability$).$ Accounts payable $$12,500\mathrm{.}00.$ Accrued interest $$26,000\mathrm{.}00.$ Machinery loan total balance $$380,621\mathrm{.}00$ with $$72,801\mathrm{.}00$ principle due within next year. Real estate loan balance $$470,125\mathrm{.}00,$ with $$17,750,00$ principle due within next year.