When different sized operations are compared, use of percentages rather that actual dollars has some advantages. This approach is called a common-size statement. The financial condition of the business at a specific point in time. Assets, liabilities, and net worth. Market value is the estimated amount the asset would sell for on the date of the statement less selling costs.
Cost is the original cost or basis of the asset less any accumulated depreciation.
For More Details Agricultural Financial Reporting and Analysis. Arnold W. Oltmans, Danny A. Klinefelter and Thomas L. Frey. Doane Agricultural Services, St. Louis, Missouri. Financial Management in Agriculture. Peter J. Barry, Paul N. Ellinger, C. B. Baker and John A. Hopkin.