NCTC FBM - Moorhead                                                
                                         BALANCE SHEET AT MARKET VALUES, 1999                                       
                             Northland Community and Technical College Farm Business Mgt.                           
                                          (Farms sorted by Net Farm Income)                                         


                                                     Average Of              Average Of              Average Of           
                                                      All Farms               Low 20 %               High 20 %            
                                                     -----------             -----------             -----------
 Number of Farms                                            60                      13                       9

                                               Beginning     Ending    Beginning     Ending    Beginning     Ending
 ASSETS                                        ---------     -------    --------      ------     -------     -------
 Current Farm Assets
   Cash and checking balance                       19058       21314       11687       15060       23496        5504
   Prepaid expenses & supplies                     15007       25009        5711       10835       25457       46858
   Growing crops                                     222          -           -           -           -           - 
   Accounts receivable                             10218       17719        6488       13927       13230       52004
   Hedging accounts                                 1201        1145          -           -         1783        5935
   Crops held for sale or feed                    132386      159864       86882       94504      241239      316655
   Crops under government loan                     10869         792       10169          -        31971        3485
   Market livestock held for sale                     25          -          115          -           -           - 
   Other current assets                             4778        5158          -         1453          -           - 
   Total current farm assets                      193763      231000      121051      135779      337176      430441
 Intermediate Farm Assets
   Breeding livestock                                392         182        1631         154         256         989
   Machinery and equipment                        250264      258287      171901      180626      366981      398229
   Other intermediate assets                      292737      290291      111979      134259      467421      472264
   Total intermediate farm assets                 543393      548760      285511      315039      834658      871481
 Long-Term Farm Assets
   Farm land                                      306041      328235      166408      191169      473724      514450
   Buildings and improvements                      32567       33677       32711       32711       37534       37534
   Other long-term assets                          10066       10176        3447        2964       26539       25318
   Total long-term farm assets                    348674      372088      202566      226844      537797      577302
 Total Farm Assets                               1085830     1151849      609128      677662     1709631     1879225

 Total Nonfarm Assets                             182871      198181      158565      177818      224405      233833
 Total Assets                                    1268701     1350029      767693      855480     1934036     2113058

 LIABILITIES
 Current Farm Liabilities
   Accrued interest                                12053       12160       10399       10617       16983       14265
   Accounts payable                                17071       12259       37797       13680       30987       23622
   Current notes                                  128013      123359       73919       82906      264575      262206
   Government crop loans                            6968         523        6964          -        25836        3485
   Principal due on term debt                      40537       43331       19419       28565       75995       88274
   Total current farm liabilities                 204642      191631      148499      135768      414377      391853
 Intermediate Farm Liabilities                    158079      171046       81251      119060      238455      248255
 Long-term Farm Liabilities                       146197      172124       99327      143801      246147      276707
 Total Farm Liabilities                           508917      534801      329078      398630      898978      916815

 Total Nonfarm Liabilities                         37958       41094       28308       39318       75927       74023
 Total Deferred Liabilities                       128329      143062       61555       77024      190220      247394
 Total Liabilities                                675204      718957      418941      514972     1165125     1238232

 Net Worth (farm and nonfarm)                     593497      631073      348752      340508      768911      874826
 Net Worth Change                                              37576                   -8244                  105915

 RATIO ANALYSIS
 Current Farm Liabilities / Assets                 106 %        83 %       123 %       100 %       123 %        91 %
 Curr. & Interm Farm Liab. / Assets                 49 %        47 %        57 %        57 %        56 %        49 %
 Long Term Farm Liabilities / Assets                42 %        46 %        49 %        63 %        46 %        48 %
 Total Liabilities / Assets                         53 %        53 %        55 %        60 %        60 %        59 %