Use the following data to calculate the profitability and efficiency measures listed below: Gross revenue $185,000 Value of farm production $167,000 Net farm income $ 48,000 Interest expense $ 18,000

Use the following data to calculate the profitability and efficiency measures listed below: Gross revenue $185,000 Value of farm production $167,000 Net farm income $ 48,000 Interest expense $ 18,000 Value of unpaid labor $ 31,000 Opportunity cost on farm equity $ 17,300 Total asset value: beginning $400,000 ending $430,000 Farm equity:   beginning $340,000 ending $352,000 CALCULATE THE FOLLOWING; a Rate of return on assets b Rate of return on equity c Asset turnover ratio d Return to management e Net farm income from operations ratio

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