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 21,716 22,851 18,860 45,975
Prepaid expenses & supplies 44,164 57,132 18,924 79,058
Growing crops - - - -
Accounts receivable 16,347 29,140 7,900 16,717
Hedging accounts 2,814 6,948 454 5,646
Crops held for sale or feed 230,673 213,511 132,992 388,208
Crops under government loan 30,137 65,854 27,338 35,864
Market livestock held for sale 5,438 - - 27,191
Other current assets 1,217 1,784 1,000 3,300
Total current farm assets 352,506 397,220 207,467 601,960
Intermediate Farm Assets
Breeding livestock 19 93 - -
Machinery and equipment 425,397 715,438 233,161 609,466
Titled vehicles 18,637 28,447 4,467 41,007
Other intermediate assets 333,925 504,361 144,899 539,072
Total intermediate farm assets 777,978 1,248,339 382,527 1,189,545
Long Term Farm Assets
Farm land 450,182 483,339 412,547 654,207
Buildings and improvements 67,194 90,975 65,544 98,262
Other long-term assets 22,370 11,137 15,449 42,058
Total long-term farm assets 539,746 585,452 493,540 794,527
Total Farm Assets 1,670,229 2,231,011 1,083,534 2,586,032
Total Nonfarm Assets 285,554 516,150 253,423 276,735
Total Assets 1,955,784 2,747,161 1,336,957 2,862,767
Liabilities
Current Farm Liabilities
Accrued interest 14,779 35,083 12,440 8,787
Accounts payable 17,379 18,253 1,990 7,891
Current notes 188,145 287,172 86,612 182,807
Government crop loans 23,277 49,257 21,100 29,156
Principal due on term debt 52,038 80,120 26,451 70,239
Total current farm liabilities 295,619 469,885 148,593 298,878
Total intermediate farm liabs 145,033 310,019 71,269 136,303
Total long term farm liabilities 213,977 250,552 225,576 247,055
Total farm liabilities 654,629 1,030,457 445,438 682,236
Total nonfarm liabilities 78,284 106,660 53,364 57,705
Total liabs excluding deferreds 732,913 1,137,117 498,802 739,941
Total deferred liabilities 179,203 248,410 96,668 308,112
Total liabilities 912,116 1,385,527 595,470 1,048,053
Retained earnings 799,792 919,794 568,913 1,501,624
Market valuation equity 243,875 441,840 172,575 313,089
Net worth (farm and nonfarm) 1,043,667 1,361,634 741,487 1,814,714
Net worth excluding deferreds 1,222,870 1,610,044 838,155 2,122,826
Net worth change 11,604 -72,372 21,836 81,440
Ratio Analysis
Current farm liabilities / assets 84 % 118 % 72 % 50 %
Curr. & interm farm liab. / assets 39 % 47 % 37 % 24 %
Long term farm liab. / assets 40 % 43 % 46 % 31 %
Total debt to asset ratio 47 % 50 % 45 % 37 %
Debt to assets excl deferreds 37 % 41 % 37 % 26 %