NCTC FBM - Moorhead FARM INCOME STATEMENT, 1999 (Continued) Northland Community and Technical College Farm Business Mgt. Moorhead (Farms sorted by Net Farm Income) Average Of Average Of Average Of All Farms Low 20% High 20% ----------- ----------- ----------- Number of Farms 72 14 14 CASH FARM EXPENSE Seed 28003 18863 40137 Fertilizer 44347 21823 76540 Crop chemicals 67273 42213 114696 Crop insurance 10758 6591 20128 Drying fuel 457 39 513 Crop marketing 1390 2747 2338 Crop miscellaneous 26731 12433 25793 Feeder livestock purchase 660 - 2741 Purchased feed 107 - 487 Veterinary 16 - - Livestock supplies 70 - 358 Livestock marketing 58 - 296 Interest 41656 27926 62380 Fuel & oil 14107 7948 19547 Repairs 29218 17097 37026 Custom hire 11122 9045 15075 Hired labor 21789 6158 33225 Land rent 101495 78204 152036 Machinery & bldg leases 8006 2472 19780 Real estate taxes 6906 3348 10853 Farm insurance 5520 3663 6834 Utilities 4516 1999 7014 Dues & professional fees 2819 1731 3603 Hedging account deposits 817 175 2482 Miscellaneous 6559 3224 14158 Total cash expense 434399 267698 668041 Net cash farm income 56581 -23470 150663 INVENTORY CHANGES Crops and feed 22142 -2842 46082 Market livestock -21 -107 - Accounts receivable 5027 8257 24348 Prepaid expenses and supplies 9431 4758 17223 Accounts payable 3523 21172 4034 Total inventory change 40102 31238 91688 Net operating profit 96683 7768 242350 DEPRECIATION AND OTHER CAPITAL ADJUSTMENTS Breeding livestock -106 -1371 829 Machinery and equipment -21491 -12614 -36170 Buildings and improvements -779 -344 -1005 Other farm capital 3733 534 2862 Total depr. and other capital adj -18642 -13795 -33485 Net farm income 78041 -6027 208865