A blank accrual income statement for your use Income Statement        Name                                Period covered                  to              
Cash Farm Income Cash Operating Expenses
Crop sales   Seed  
    Fertilizer, lime, chemicals  
    Livestock purchased for resale  
    Vet, medicine, breeding fees  
    Livestock marketing  
    Fuel, oil, lubricants  
    Utilities  
Livestockand livestock product sales   Repairs  
    Taxes, insurance  
    Hired labor  
    Rent, leases  
    Machine hire  
    Supplies  
    Interest  
Government payments   Other  
       
       
       
Other farm income      
       
       
       
Total cash farm income   Total cash operating expenses  
    Net cash farm income  
Inventory Changes
  Crops & feed Market
livestock
Receivables &
other income
items
Supplies &
prepaid
expenses
Payables &
accrued
expenses
 
Ending inventory         Beg.
Beginning inventory         End.
Inventory change            
Net operating profit  
Depreciation and Other Capital Adjustments
  Breeding
livestock
Machinery &
equipment
Buildings &
improvements
Other Land  
Ending inventory          
Capital sales          
Ending inventory & sales          
Beginning inventory          
Capital purchases     
Beg. invent. & purchases     
Deprec. & cap. adjustm.     
Profit or Loss 
Department of Agricultural & Resource Economics, University of Maryland at College Park