Farm Income Statement
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
Cash Farm Income
Barley 298 - - 317
Beans, Black Turtle 800 - - 1,718
Beans, Navy 1,587 - - 6,200
Beans, Pink 234 - - -
Beans, Pinto 1,550 - - 6,086
Beans, Small Red 432 - - -
Corn 49,754 4,905 18,382 42,198
Hay, Alfalfa 2,193 6,162 - -
Hay, Grass 25 127 - -
Popcorn 142 - - -
Potatoes 7,178 - 34,544 -
Soybeans 140,621 43,039 118,746 208,742
Straw 135 83 123 450
Sugar Beets 292,073 3,389 222,747 724,707
Sunflowers 2,473 2,872 2,440 -
Sunflowers, Confectionary 6,074 - 8,885 9,433
Wheat, Spring 119,893 25,703 131,554 184,354
Corn, Blue 697 2,698 - -
Soybeans, Organic 5,925 6,097 5,812 -
Soybeans, Food 532 - 2,559 -
Barley, Organic 306 - 1,453 -
Hay, Alfalfa, Organic 1,963 1,308 - -
Wheat, Spring, Organic 1,861 4,495 - -
Wheat, Winter, Organic 196 - - -
Miscellaneous crop income 36 - - -
CCC market loan gain 1 - 6 -
LDP payments 1,109 39 1,035 2,502
Direct & CC govt payments 26,363 7,089 25,481 40,141
CRP payments 628 - - 108
Other government payments 716 - - 345
Custom work income 4,289 775 305 1,126
Patronage dividends, cash 10,949 1,782 9,507 22,767
Insurance income 6,758 2,227 9,314 4,816
Cash from hedging accts 156 133 - 625
Other farm income 20,482 12,523 16,631 25,733
Gross Cash Farm Income 708,428 125,445 609,524 1,282,369

Farm Income Statement (Continued)
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
Cash Farm Expense
Seed 59,268 11,243 39,728 114,765
Fertilizer 60,994 7,168 49,734 112,377
Crop chemicals 61,998 6,975 58,517 106,814
Crop insurance 22,083 4,021 22,592 33,292
Drying fuel 1,240 71 532 1,535
CCC buyback 13,032 779 11,760 23,037
Hauling and trucking 1,668 - 1,690 1,251
Marketing 3,307 43 - 13,106
Crop miscellaneous 5,051 498 5,548 11,657
Interest 44,010 7,908 45,135 76,379
Fuel & oil 42,636 7,990 36,108 66,360
Repairs 46,639 10,739 38,089 76,211
Custom hire 9,476 4,283 11,449 12,875
Hired labor 30,524 2,835 21,349 74,862
Land rent 108,114 19,183 96,399 179,628
Stock/quota lease 31,666 - 27,337 69,945
Machinery leases 11,010 358 4,391 10,011
Building leases 721 200 1,174 1,557
Real estate taxes 5,952 3,419 5,369 6,975
Farm insurance 8,263 3,484 6,499 12,650
Utilities 5,117 1,697 5,268 6,074
Dues & professional fees 5,975 1,627 4,617 10,970
Organic certification 102 149 47 -
Hedging account deposits 2,245 37 725 8,820
Miscellaneous 5,808 2,855 7,005 7,754
Total cash expense 586,899 97,563 501,063 1,038,904
Net cash farm income 121,529 27,882 108,461 243,465
Inventory Changes
Crops and feed 86,876 7,808 95,597 205,513
Market livestock - - - -
Accounts receivable 2,576 260 345 6,168
Prepaid expenses and supplies 12,690 -2,965 5,383 48,445
Accounts payable 1,843 -2,679 -14,036 -2,498
Total inventory change 103,985 2,424 87,289 257,627
Net operating profit 225,514 30,306 195,750 501,092
Depreciation and Other Capital Adjustments
Breeding livestock 9 - - -
Machinery and equipment -32,822 -6,752 -28,887 -56,339
Buildings and improvements -1,926 -454 -2,730 -2,484
Other farm capital 12,363 -249 7,297 27,958
Total depr. and other capital adj -22,375 -7,455 -24,320 -30,866
Net farm income 203,139 22,851 171,430 470,226