Answer:
1.Information, in a general sense, is processed, organised and structured data. It provides context for data and enables decision making. For example, a single customer’s sale at a restaurant is data – this becomes information when the business is able to identify the most popular or least popular dish. Farm records can include any of the following: expenses, labor, chemical/pesticide tracking, harvest and yield records, planting records, shipping records, FSMA and GlobalGAP compliance records, and more.
2.Subtract interest expense, then add capital gains or subtract capital losses from net farm income from operations to calculate net farm income. This represents the income earned by the farm operator's own capital, labor, and management ability.
