Financial Summary
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

Income Statement
Gross cash farm income	547,250	206,665	451,689	979,392
Total cash farm expense	431,322	154,094	340,809	755,757
Net cash farm income	115,928	52,571	110,880	223,635
Inventory change	33,513	-32,440	5,891	126,523
Depreciation and capital adjust	-12,772	-6,075	-16,121	-9,575
Net farm income	136,669	14,057	100,650	340,582

Profitability (cost)
Labor and management earnings	104,760	-485	70,803	279,538
Rate of return on assets	11.7 %	0.8 %	9.8 %	16.0 %
Rate of return on equity	17.9 %	-2.6 %	13.2 %	26.5 %
Operating profit margin	21.6 %	2.0 %	18.6 %	29.6 %
Asset turnover rate	54.5 %	42.4 %	52.5 %	53.8 %

Profitability (market)
Labor and management earnings	126,309	18,088	92,371	271,223
Rate of return on assets	11.5 %	4.9 %	10.7 %	12.3 %
Rate of return on equity	19.3 %	5.2 %	16.5 %	20.9 %
Operating profit margin	26.4 %	13.2 %	23.9 %	30.7 %
Asset turnover rate	43.5 %	36.7 %	44.6 %	40.0 %

Liquidity
Term debt coverage ratio	169.1 %	87.2 %	168.1 %	204.9 %
Expense as a percent of income	74.1 %	89.0 %	74.7 %	67.7 %
Interest as a percent of income	4.9 %	5.4 %	4.4 %	4.9 %

Solvency (cost)
Number of farms	75	15	15	15
Ending farm assets	1,111,158	445,168	903,362	2,167,608
Ending farm liabilities	540,429	201,985	376,722	1,037,519
Ending total assets	1,277,312	588,053	1,041,212	2,402,299
Ending total liabilities	592,139	220,858	419,571	1,111,605
Ending net worth	685,173	367,194	621,640	1,290,694
Net worth change	90,353	10,041	60,547	243,559
Ending farm debt to asset ratio	49 %	45 %	42 %	48 %
Beg total debt to asset ratio	49 %	36 %	44 %	50 %
End total debt to asset ratio	46 %	38 %	40 %	46 %

Solvency (market)
Number of farms	75	15	15	15
Ending farm assets	1,401,385	519,307	1,075,793	2,899,325
Ending farm liabilities	708,806	236,683	487,221	1,435,962
Ending total assets	1,600,020	703,739	1,217,012	3,218,094
Ending total liabilities	768,960	269,410	531,228	1,531,243
Ending net worth	831,060	434,329	685,784	1,686,851
Net worth change	120,880	43,534	85,482	254,940
Ending farm debt to asset ratio	51 %	46 %	45 %	50 %
Beg total debt to asset ratio	50 %	39 %	47 %	50 %
End total debt to asset ratio	48 %	38 %	44 %	48 %

Nonfarm Information
Net nonfarm income	13,962	22,634	7,497	7,908
Farms reporting living expenses	28	8	5	7
Total family living expense	39,795	27,334	24,092	64,451
Total living, invest, & capital	83,999	47,499	47,564	122,771

Crop Acres
Total acres owned	354	283	352	613
Total crop acres	1,709	880	1,631	2,523
Total crop acres owned	286	161	303	502
Total crop acres cash rented	1,390	702	1,327	2,003
Total crop acres share rented	33	17	-	17