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

Avg. Of
All Farms Low 20% High 20%
Number of farms 72 14 15
Beginning Ending Beginning Ending Beginning Ending
Assets
Current Farm Assets
Cash and checking balance 20,176 21,593 11,574 9,142 38,025 34,609
Prepaid expenses & supplies 28,160 30,110 15,448 14,699 45,149 61,453
Growing crops 0 0 0 0 0 0
Accounts receivable 12,550 35,099 5,910 7,935 17,233 50,972
Hedging accounts 1,244 1,310 0 0 1,869 3,364
Crops held for sale or feed 172,144 191,174 80,301 84,039 279,268 310,879
Crops under government loan 230 156 53 66 56 148
Market livestock held for sale 17 90 0 0 0 0
Other current assets 4,465 4,795 0 0 1,259 0
Total current farm assets 238,986 284,326 113,286 115,882 382,859 461,424
Intermediate Farm Assets
Breeding livestock 176 146 0 0 0 0
Machinery and equipment 180,252 192,946 97,723 105,614 239,265 254,826
Other intermediate assets 183,150 186,291 61,314 57,194 330,508 334,202
Total intermediate farm assets 363,578 379,382 159,037 162,807 569,773 589,028
Long Term Farm Assets
Farm land 261,718 268,808 179,406 179,406 416,792 456,692
Buildings and improvements 22,192 22,758 19,748 20,259 38,601 38,600
Other long-term assets 6,196 6,804 3,456 3,810 9,219 10,149
Total long-term farm assets 290,106 298,371 202,611 203,475 464,611 505,441
Total Farm Assets 892,670 962,080 474,934 482,164 1,417,244 1,555,893
Total Nonfarm Assets 152,168 162,966 120,659 128,786 166,905 186,877
Total Assets 1,044,838 1,125,045 595,593 610,950 1,584,149 1,742,769
Liabilities
Current Farm Liabilities
Accrued interest 12,782 10,308 4,922 7,220 9,645 7,656
Accounts payable 10,244 10,246 4,850 6,437 12,211 10,981
Current notes 107,766 121,228 49,414 59,200 195,877 157,380
Government crop loans 0 0 0 0 0 0
Principal due on term debt 40,480 42,247 17,961 16,399 56,134 61,540
Total current farm liabilities 171,271 184,028 77,147 89,256 273,867 237,558
Total intermediate farm liabs 160,993 147,970 86,855 90,845 184,983 158,670
Total long term farm liabilities 162,772 164,920 80,635 77,219 248,919 278,253
Total farm liabilities 495,036 496,918 244,638 257,321 707,769 674,481
Total nonfarm liabilities 37,418 41,163 39,293 37,857 48,562 59,872
Total liabilities 532,454 538,081 283,932 295,178 756,331 734,353
Net worth (farm and nonfarm) 512,385 586,964 311,661 315,772 827,818 1,008,416
Net worth change 74,579 4,111 180,598
Ratio Analysis
Current farm liabilities / assets 72 % 65 % 68 % 77 % 72 % 51 %
Curr. & interm farm liab. / asset 55 % 50 % 60 % 65 % 48 % 38 %
Long term farm liab. / assets 56 % 55 % 40 % 38 % 54 % 55 %
Total debt to asset ratio 51 % 48 % 48 % 48 % 48 % 42 %