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 75 15 15 15
Assets
Current Farm Assets
Cash and checking balance 25,597 16,007 13,984 64,709
Prepaid expenses & supplies 42,007 9,637 32,004 89,323
Growing crops 2,294 - - 11,469
Accounts receivable 17,228 5,772 10,876 36,417
Hedging accounts 2,777 67 300 9,102
Crops held for sale or feed 231,960 64,767 198,807 442,203
Crops under government loan 10,683 16,840 3,032 13,806
Market livestock held for sale 5,148 1,147 - -
Other current assets 4,475 18 - 8,465
Total current farm assets 342,169 114,255 259,002 675,494
Intermediate Farm Assets
Breeding livestock 1,046 200 - 4,832
Machinery and equipment 248,445 91,192 210,286 417,382
Other intermediate assets 201,043 39,692 169,164 433,126
Total intermediate farm assets 451,070 131,083 379,450 858,020
Long Term Farm Assets
Farm land 281,179 181,743 230,306 557,516
Buildings and improvements 26,628 15,988 26,162 47,411
Other long-term assets 10,112 2,098 8,443 29,168
Total long-term farm assets 317,919 199,829 264,910 634,094
Total Farm Assets 1,111,158 445,168 903,362 2,167,608
Total Nonfarm Assets 166,154 142,885 137,849 234,691
Total Assets 1,277,312 588,053 1,041,212 2,402,299
Liabilities
Current Farm Liabilities
Accrued interest 11,016 5,652 6,956 15,904
Accounts payable 7,462 5,078 4,199 9,860
Current notes 162,270 30,790 110,120 307,959
Government crop loans 8,747 14,578 2,084 11,359
Principal due on term debt 50,012 13,085 39,374 102,846
Total current farm liabilities 239,508 69,185 162,732 447,928
Total intermediate farm liabs 134,104 46,877 88,957 234,520
Total long term farm liabilities 166,818 85,923 125,033 355,072
Total farm liabilities 540,429 201,985 376,722 1,037,519
Total nonfarm liabilities 51,710 18,873 42,849 74,086
Total liabilities 592,139 220,858 419,571 1,111,605
Net worth (farm and nonfarm) 685,173 367,194 621,640 1,290,694
Net worth change 90,353 10,041 60,547 243,559
Ratio Analysis
Current farm liabilities / assets 70 % 61 % 63 % 66 %
Curr. & interm farm liab. / assets 47 % 47 % 39 % 45 %
Long term farm liab. / assets 52 % 43 % 47 % 56 %
Total debt to asset ratio 46 % 38 % 40 % 46 %