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 69 15 13 11
Assets
Current Farm Assets
Cash and checking balance 21,689 19,577 -2,140 30,742
Prepaid expenses & supplies 46,062 9,414 38,001 89,386
Growing crops 3,788 - - 23,762
Accounts receivable 12,068 1,422 7,115 12,026
Hedging accounts 3,218 833 - 13,308
Crops held for sale or feed 241,014 73,408 249,919 463,807
Crops under government loan 12,788 147 16,150 5,696
Market livestock held for sale 258 1,133 - 73
Other current assets 18 85 - -
Total current farm assets 340,903 106,019 309,045 638,799
Intermediate Farm Assets
Breeding livestock 1,585 - 162 9,753
Machinery and equipment 323,757 98,036 285,559 573,872
Titled vehicles 7,761 1,367 5,308 24,636
Other intermediate assets 267,745 48,443 224,314 600,556
Total intermediate farm assets 600,848 147,845 515,343 1,208,817
Long Term Farm Assets
Farm land 322,987 185,930 316,740 603,306
Buildings and improvements 48,321 28,567 30,063 106,845
Other long-term assets 8,812 4,419 4,100 5,887
Total long-term farm assets 380,120 218,916 350,902 716,037
Total Farm Assets 1,321,871 472,780 1,175,290 2,563,654
Total Nonfarm Assets 251,630 195,542 175,525 481,979
Total Assets 1,573,502 668,322 1,350,815 3,045,633
Liabilities
Current Farm Liabilities
Accrued interest 8,656 3,443 10,635 10,471
Accounts payable 8,861 2,177 15,748 8,043
Current notes 150,067 31,977 131,666 314,894
Government crop loans 8,672 - 11,308 3,637
Principal due on term debt 44,517 9,445 45,117 78,926
Total current farm liabilities 220,773 47,041 214,474 415,971
Total intermediate farm liabs 138,315 37,775 140,180 246,037
Total long term farm liabilities 164,665 73,546 167,096 309,236
Total farm liabilities 523,752 158,362 521,751 971,244
Total nonfarm liabilities 67,703 16,267 67,144 117,880
Total liabs excluding deferreds 591,455 174,629 588,895 1,089,124
Total deferred liabilities 143,935 52,775 126,945 298,130
Total liabilities 735,390 227,403 715,839 1,387,254
Retained earnings 734,141 345,233 570,767 1,496,857
Market valuation equity 103,970 95,685 64,209 161,522
Net worth (farm and nonfarm) 838,112 440,918 634,976 1,658,379
Net worth excluding deferreds 982,046 493,693 761,920 1,956,509
Net worth change 104,654 16,838 80,286 256,715
Ratio Analysis
Current farm liabilities / assets 65 % 44 % 69 % 65 %
Curr. & interm farm liab. / assets 38 % 33 % 43 % 36 %
Long term farm liab. / assets 43 % 34 % 48 % 43 %
Total debt to asset ratio 47 % 34 % 53 % 46 %
Debt to assets excl deferreds 38 % 26 % 44 % 36 %