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

Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of farms 64 14 11 10
Beginning Ending Beginning Ending Beginning Ending Beginning Ending
Assets
Current Farm Assets
Cash and checking balance 18,927 23,712 4,138 12,191 31,968 31,861 16,933 14,553
Prepaid expenses & supplies 24,347 35,032 12,032 12,112 18,318 21,071 46,304 80,871
Growing crops 0 0 0 0 0 0 0 0
Accounts receivable 30,914 11,703 20,028 12,031 17,745 5,693 42,544 16,797
Hedging accounts 1,072 1,673 74 310 182 91 5,571 8,895
Crops held for sale or feed 164,823 180,472 97,501 78,770 122,401 141,732 329,459 401,524
Crops under government loan 175 1,861 66 4,168 0 1,231 127 0
Market livestock held for sale 36 25 0 0 0 0 0 0
Other current assets 5,000 5,201 0 0 138 138 0 0
Total current farm assets 245,293 259,679 133,838 119,582 190,753 201,818 440,937 522,641
Intermediate Farm Assets
Breeding livestock 38 66 0 0 0 0 0 0
Machinery and equipment 162,793 184,338 106,896 125,447 121,652 141,489 250,071 264,420
Other intermediate assets 169,777 172,414 51,955 51,894 103,205 108,565 372,194 377,455
Total intermediate farm assets 332,608 356,817 158,851 177,341 224,857 250,054 622,264 641,875
Long Term Farm Assets
Farm land 269,923 289,876 237,726 237,726 109,859 109,859 494,403 561,203
Buildings and improvements 24,547 26,956 12,449 14,256 12,325 14,035 36,581 47,544
Other long-term assets 6,500 7,477 2,050 2,150 9,523 10,943 10,582 10,840
Total long-term farm assets 300,970 324,309 252,225 254,132 131,707 134,837 541,566 619,587
Total Farm Assets 878,870 940,805 544,914 551,055 547,316 586,709 1,604,767 1,784,102
Total Nonfarm Assets 169,420 174,333 154,094 149,882 165,348 168,271 245,913 257,727
Total Assets 1,048,290 1,115,138 699,008 700,937 712,665 754,980 1,850,680 2,041,829
Liabilities
Current Farm Liabilities
Accrued interest 9,668 9,343 9,188 9,679 8,821 6,508 4,693 3,441
Accounts payable 6,889 6,576 4,907 4,330 12,885 9,396 9,900 9,188
Current notes 112,058 127,678 91,839 96,989 72,956 85,646 219,318 239,270
Government crop loans 0 689 0 3,151 0 0 0 0
Principal due on term debt 37,521 38,891 20,203 22,330 20,665 21,946 69,386 65,573
Total current farm liabilities 166,137 183,177 126,137 136,479 115,327 123,497 303,296 317,472
Total intermediate farm liabs 133,451 122,444 98,937 98,870 87,803 82,225 175,233 153,903
Total long term farm liabilities 159,392 164,035 137,079 136,180 84,465 82,900 268,889 307,677
Total farm liabilities 458,980 469,656 362,153 371,529 287,596 288,622 747,418 779,051
Total nonfarm liabilities 38,426 42,134 25,657 28,840 27,966 24,727 63,798 67,814
Total liabilities 497,406 511,790 387,810 400,370 315,561 313,349 811,216 846,865
Net worth (farm and nonfarm) 550,884 603,348 311,198 300,568 397,104 441,631 1,039,464 1,194,964
Net worth change 52,464 -10,630 44,528 155,500
Ratio Analysis
Current farm liabilities / assets 68 % 71 % 94 % 114 % 60 % 61 % 69 % 61 %
Curr. & interm farm liab. / assets 52 % 50 % 77 % 79 % 49 % 46 % 45 % 40 %
Long term farm liab. / assets 53 % 51 % 54 % 54 % 64 % 61 % 50 % 50 %
Total debt to asset ratio 47 % 46 % 55 % 57 % 44 % 42 % 44 % 41 %