Balance Sheet at Cost Values
Farm Business Management - Moorhead
Northland Community & Technical College
(Farms Sorted By Net Farm Income)

Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of farms 77 15 16 16
Assets
Current Farm Assets
Cash and checking balance 27,961 22,381 16,126 59,616
Prepaid expenses & supplies 56,159 4,871 34,989 149,266
Growing crops 397 - - -
Accounts receivable 14,970 2,409 9,162 17,622
Hedging accounts 3,173 - 1,109 12,975
Crops held for sale or feed 314,631 56,744 314,140 580,810
Crops under government loan 52,284 8,168 40,757 90,576
Market livestock held for sale - - - -
Other current assets 2,050 - 889 6,006
Total current farm assets 471,626 94,574 417,173 916,872
Intermediate Farm Assets
Breeding livestock 27 - - -
Machinery and equipment 320,759 58,530 282,927 560,039
Titled vehicles 16,901 5,003 13,410 44,363
Other intermediate assets 240,874 18,827 175,986 528,204
Total intermediate farm assets 578,561 82,360 472,323 1,132,606
Long Term Farm Assets
Farm land 363,420 160,068 359,815 453,991
Buildings and improvements 48,801 13,102 73,645 61,393
Other long-term assets 20,904 5,060 6,573 60,481
Total long-term farm assets 433,125 178,230 440,033 575,866
Total Farm Assets 1,483,312 355,164 1,329,528 2,625,343
Total Nonfarm Assets 243,542 185,825 240,308 341,926
Total Assets 1,726,855 540,989 1,569,836 2,967,269
Liabilities
Current Farm Liabilities
Accrued interest 17,220 4,497 18,370 18,654
Accounts payable 15,117 3,896 21,207 25,137
Current notes 188,749 21,645 220,614 265,572
Government crop loans 33,725 6,735 29,143 59,405
Principal due on term debt 52,540 8,007 50,799 95,469
Total current farm liabilities 307,351 44,780 340,134 464,237
Total intermediate farm liabs 142,450 10,633 139,186 222,288
Total long term farm liabilities 236,183 107,766 269,228 314,883
Total farm liabilities 685,984 163,179 748,547 1,001,409
Total nonfarm liabilities 75,990 19,249 94,213 123,152
Total liabilities 761,974 182,427 842,760 1,124,560
Net worth (farm and nonfarm) 964,880 358,561 727,076 1,842,709
Net worth change 146,842 17,077 124,659 354,319
Ratio Analysis
Current farm liabilities / assets 65 % 47 % 82 % 51 %
Curr. & interm farm liab. / assets 43 % 31 % 54 % 33 %
Long term farm liab. / assets 55 % 60 % 61 % 55 %
Total debt to asset ratio 44 % 34 % 54 % 38 %