|
|
| Financial
records
allow a farmer to keep track of how much money his animals are
making and how much money he or she will make at the end of the
year. |
 |
| The
information provided from a financial record is determined by
subtracting the cost of inputs (feed, medicine, electric for barn,
and much more) from the amount of money the animals on the farm
made in the year. The money that is left, or the difference, is
the profit, or the money the farmer made from the animals: |
| Money
animals made |
- |
inputs |
=
|
profits |
| A financial
record for a farm may look like this: |
| Amount
of money animals made |
Costs
of inputs |
Profit |
| $1000 |
$500 |
$500 |
| The information
from this record would show that the farmer made a profit for
the year. |
|
