Balance Sheet at Market 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 363,275 127,339 288,253 669,893
Other intermediate assets 316,811 55,220 219,868 768,106
Total intermediate farm assets 681,612 182,759 508,121 1,445,231
Long Term Farm Assets
Farm land 322,679 197,540 266,387 650,076
Buildings and improvements 42,632 22,655 33,840 88,582
Other long-term assets 12,293 2,098 8,443 39,942
Total long-term farm assets 377,605 222,293 308,670 778,600
Total Farm Assets 1,401,385 519,307 1,075,793 2,899,325
Total Nonfarm Assets 198,634 184,432 141,219 318,769
Total Assets 1,600,020 703,739 1,217,012 3,218,094
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 liabs excluding deferreds 592,139 220,858 419,571 1,111,605
Total deferred liabilities 176,821 48,551 111,657 419,638
Total liabilities 768,960 269,410 531,228 1,531,243
Retained earnings 685,173 367,194 621,640 1,290,694
Market valuation equity 145,888 67,135 64,144 396,157
Net worth (farm and nonfarm) 831,060 434,329 685,784 1,686,851
Net worth excluding deferreds 1,007,881 482,880 797,441 2,106,489
Net worth change 120,880 43,534 85,482 254,940
Ratio Analysis
Current farm liabilities / assets 70 % 61 % 63 % 66 %
Curr. & interm farm liab. / assets 36 % 39 % 33 % 32 %
Long term farm liab. / assets 44 % 39 % 41 % 46 %
Total debt to asset ratio 48 % 38 % 44 % 48 %
Debt to assets excl deferreds 37 % 31 % 34 % 35 %