Balance Sheet at Market Values
Moorhead Farm Business Management
Northland Community and Technical College Farm Business Management
(Farms Sorted By Net Farm Income)

Avg. Of
All Farms Low 20% High 20%
Number of farms 72 14 15
Beginning Ending Beginning Ending Beginning Ending
Assets
Current Farm Assets
Cash and checking balance 20,176 21,593 11,574 9,142 38,025 34,609
Prepaid expenses & supplies 28,160 30,110 15,448 14,699 45,149 61,453
Growing crops 0 0 0 0 0 0
Accounts receivable 12,550 35,099 5,910 7,935 17,233 50,972
Hedging accounts 1,244 1,310 0 0 1,869 3,364
Crops held for sale or feed 172,144 191,174 80,301 84,039 279,268 310,879
Crops under government loan 230 156 53 66 56 148
Market livestock held for sale 17 90 0 0 0 0
Other current assets 4,465 4,795 0 0 1,259 0
Total current farm assets 238,986 284,326 113,286 115,882 382,859 461,424
Intermediate Farm Assets
Breeding livestock 176 185 0 0 0 0
Machinery and equipment 263,453 275,169 136,044 153,135 360,941 375,955
Other intermediate assets 278,818 228,613 89,124 69,355 534,218 406,820
Total intermediate farm assets 542,447 503,966 225,168 222,490 895,159 782,776
Long Term Farm Assets
Farm land 307,366 314,457 224,607 224,607 467,396 507,296
Buildings and improvements 38,163 39,217 23,410 24,410 58,684 60,051
Other long-term assets 8,013 8,653 3,456 3,810 17,808 18,891
Total long-term farm assets 353,543 362,327 251,474 252,827 543,889 586,238
Total Farm Assets 1,134,976 1,150,619 589,928 591,199 1,821,907 1,830,437
Total Nonfarm Assets 174,169 188,005 122,077 130,572 189,302 209,998
Total Assets 1,309,145 1,338,624 712,004 721,771 2,011,209 2,040,435
Liabilities
Current Farm Liabilities
Accrued interest 12,782 10,308 4,922 7,220 9,645 7,656
Accounts payable 10,244 10,246 4,850 6,437 12,211 10,981
Current notes 107,766 121,228 49,414 59,200 195,877 157,380
Government crop loans 0 0 0 0 0 0
Principal due on term debt 40,480 42,247 17,961 16,399 56,134 61,540
Total current farm liabilities 171,271 184,028 77,147 89,256 273,867 237,558
Total intermediate farm liabs 160,993 147,970 86,855 90,845 184,983 158,670
Total long term farm liabilities 162,772 164,920 80,635 77,219 248,919 278,253
Total farm liabilities 495,036 496,918 244,638 257,321 707,769 674,481
Total nonfarm liabilities 37,418 41,163 39,293 37,857 48,562 59,872
Total liabs excluding deferreds 532,454 538,081 283,932 295,178 756,331 734,353
Total deferred liabilities 147,504 149,228 62,908 60,316 243,830 236,334
Total liabilities 679,958 687,309 346,839 355,494 1,000,161 970,687
Retained earnings 512,385 586,964 311,661 315,772 827,818 1,008,416
Market valuation equity 116,802 64,351 53,504 50,505 183,230 61,332
Net worth (farm and nonfarm) 629,187 651,315 365,165 366,277 1,011,048 1,069,748
Net worth excluding deferreds 776,691 800,543 428,073 426,593 1,254,878 1,306,082
Net worth change 22,128 1,112 58,700
Ratio Analysis
Current farm liabilities / assets 72 % 65 % 68 % 77 % 72 % 51 %
Curr. & interm farm liab. / asset 43 % 42 % 48 % 53 % 36 % 32 %
Long term farm liab. / assets 46 % 46 % 32 % 31 % 46 % 47 %
Total debt to asset ratio 52 % 51 % 49 % 49 % 50 % 48 %
Debt to assets excl deferreds 41 % 40 % 40 % 41 % 38 % 36 %