NCTC FBM - Moorhead                                                
                                          BALANCE SHEET AT COST VALUES, 1999                                        
                             Northland Community and Technical College Farm Business Mgt.                           
                                          (Farms sorted by Net Farm Income)                                         


                                                     Average Of              Average Of              Average Of           
                                                      All Farms               Low 20 %               High 20 %            
                                                     -----------             -----------             ------------           
 Number of Farms                                            60                      13                       9

                                               Beginning     Ending    Beginning     Ending    Beginning     Ending
 ASSETS                                        ---------     -------   ---------     -------     --------    -------
 Current Farm Assets
   Cash and checking balance                       19058       21314       11687       15060       23496        5504
   Prepaid expenses & supplies                     15007       25009        5711       10835       25457       46858
   Growing crops                                     222          -           -           -           -           - 
   Accounts receivable                             10218       17719        6488       13927       13230       52004
   Hedging accounts                                 1201        1145          -           -         1783        5935
   Crops held for sale or feed                    132386      159864       86882       94504      241239      316655
   Crops under government loan                     10869         792       10169          -        31971        3485
   Market livestock held for sale                     25          -          115          -           -           - 
   Other current assets                             4778        5158          -         1453          -           - 
   Total current farm assets                      193763      231000      121051      135779      337176      430441
 Intermediate Farm Assets
   Breeding livestock                                392         182        1631         154         256         989
   Machinery and equipment                        170497      178086      111503      116832      268179      294234
   Other intermediate assets                      183850      187297       75407      100469      279813      285887
   Total intermediate farm assets                 354739      365564      188541      217455      548248      581109
 Long-Term Farm Assets
   Farm land                                      268673      288275      147333      172095      453122      490566
   Buildings and improvements                      25020       25389       29553       29184       30478       29072
   Other long-term assets                           7926        7995        3293        2810       12499       11002
   Total long-term farm assets                    301620      321659      180180      204089      496099      530641
 Total Farm Assets                                850122      918224      489772      557322     1381523     1542191

 Total Nonfarm Assets                             163010      171410      132252      151582      207959      209780
 Total Assets                                    1013132     1089634      622024      708904     1589482     1751971

 LIABILITIES
 Current Farm Liabilities
   Accrued interest                                12053       12160       10399       10617       16983       14265
   Accounts payable                                17071       12259       37797       13680       30987       23622
   Current notes                                  128013      123359       73919       82906      264575      262206
   Government crop loans                            6968         523        6964          -        25836        3485
   Principal due on term debt                      40537       43331       19419       28565       75995       88274
   Total current farm liabilities                 204642      191631      148499      135768      414377      391853
 Intermediate Farm Liabilities                    158079      171046       81251      119060      238455      248255
 Long-term Farm Liabilities                       146197      172124       99327      143801      246147      276707
 Total Farm Liabilities                           508917      534801      329078      398630      898978      916815

 Total Nonfarm Liabilities                         37958       41094       28308       39318       75927       74023
 Total Liabilities                                546875      575895      357385      437948      974905      990838

 Net Worth (farm and nonfarm)                     466257      513739      264638      270955      614577      761133
 Net Worth Change                                              47482                    6317                  146556

 RATIO ANALYSIS
   Current Farm Liabilities / Assets               106 %        83 %       123 %       100 %       123 %        91 %
   Curr. & Interm Farm Liab / Assets                66 %        61 %        74 %        72 %        74 %        63 %
   Long Term Farm Liab. / Assets                    48 %        54 %        55 %        70 %        50 %        52 %
   Total Liabilities / Assets                       54 %        53 %        57 %        62 %        61 %        57 %