Farm Income Statement
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
Cash Farm Income
Barley 1,879 - 2,420 1,210
Beans, Navy 3,610 - - 12,902
Corn 21,975 856 2,979 68,839
Hay, Alfalfa 1,441 393 880 831
Potatoes 9,098 - - 45,489
Soybeans 78,123 59,499 83,750 90,574
Straw 424 - 734 722
Sugar Beets 215,936 40,747 184,780 412,197
Sunflowers 2,866 - 3,823 -
Sunflowers, Confectionary 8,628 5,127 4,545 16,061
Wheat, Durum 340 - - -
Wheat, Spring 107,677 50,383 107,467 172,213
Beef, Finish Beef Calves 5,064 1,792 - -
Honey Production, Honey 2,041 - - 10,206
Misc. livestock income 195 60 - 916
LDP payments 381 70 67 844
Direct & CC govt payments 17,034 8,814 15,287 24,273
CRP payments 642 - 2,233 301
Other government payments 2,543 2,746 921 4,546
Custom work income 7,407 215 635 19,527
Patronage dividends, cash 2,517 185 1,668 7,990
Insurance income 37,634 25,408 33,297 30,482
Cash from hedging accts 32 - 100 -
Other farm income 19,764 10,372 6,102 59,270
Gross Cash Farm Income 547,250 206,665 451,689 979,392
Cash Farm Expense
Seed 39,834 12,935 32,702 70,155
Fertilizer 34,961 11,135 28,785 64,368
Crop chemicals 63,218 18,421 58,372 116,079
Crop insurance 13,793 6,150 11,467 20,239
Drying fuel 471 64 155 1,961
Marketing 481 68 - 2,128
Crop miscellaneous 4,935 656 2,191 14,687
Feeder livestock purchase 5,202 1,771 - -
Purchased feed 63 315 - -
Livestock leases 158 - - -
Interest 28,450 7,446 19,025 55,105
Fuel & oil 17,086 6,693 12,097 29,716
Repairs 38,140 14,268 27,607 79,016
Custom hire 7,145 3,353 5,043 10,674
Hired labor 22,884 3,569 11,650 53,795
Land rent 113,294 48,187 101,538 164,263
Machinery & bldg leases 6,948 1,046 7,561 13,631
Real estate taxes 4,429 2,877 2,963 10,380
Farm insurance 6,918 3,058 6,060 13,254
Utilities 4,731 2,012 4,139 8,178
Dues & professional fees 3,511 1,385 4,510 5,465
Hedging account deposits 2,431 67 413 5,290
Miscellaneous 7,894 2,270 4,530 17,373
Total cash expense 431,322 154,094 340,809 755,757
Net cash farm income 115,928 52,571 110,880 223,635
Inventory Changes
Crops and feed 18,632 -21,991 7,173 70,124
Market livestock 2,943 1,040 - -
Accounts receivable 9,097 -3,033 3,124 33,725
Prepaid expenses and supplies 2,555 -6,615 -2,543 18,594
Accounts payable 287 -1,841 -1,863 4,080
Total inventory change 33,513 -32,440 5,891 126,523
Net operating profit 149,441 20,132 116,771 350,157
Depreciation and Other Capital Adjustments
Breeding livestock 502 -80 - 2,588
Machinery and equipment -23,362 -9,132 -21,470 -40,265
Buildings and improvements -879 -394 -614 -2,050
Other farm capital 10,967 3,531 5,964 30,152
Total depr. and other capital adj -12,772 -6,075 -16,121 -9,575
Net farm income 136,669 14,057 100,650 340,582