Farm Income Statement
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 |
| Cash Farm Income | |||
| Barley | 1,883 | 1,057 | 5,146 |
| Beans, Navy | 1,860 | - | 3,664 |
| Beans, Pinto | 335 | - | - |
| Corn | 14,981 | 1,989 | 28,529 |
| Hay, Alfalfa | 1,798 | 1,323 | - |
| Potatoes | 2,133 | - | 10,239 |
| Soybeans | 60,170 | 35,752 | 69,064 |
| Sugar Beets | 143,555 | 53,445 | 215,077 |
| Sunflowers | 4,064 | 2,568 | 8,009 |
| Sunflowers, Confectionary | 2,755 | - | 3,528 |
| Wheat, Durum | 472 | - | - |
| Wheat, Spring | 92,455 | 48,966 | 111,703 |
| Miscellaneous crop income | 30 | - | - |
| Misc. livestock income | 54 | 96 | 116 |
| Transistion payments | 43,245 | 20,344 | 61,180 |
| CRP payments | 652 | 303 | 492 |
| Other government payments | 56,367 | 30,780 | 85,990 |
| Custom work income | 4,400 | 3,252 | 5,543 |
| Patronage dividends, cash | 7,578 | 2,515 | 16,391 |
| Insurance income | 40,841 | 2,912 | 100,374 |
| Cash from hedging accts | 668 | - | 1,832 |
| Other farm income | 15,140 | 10,402 | 15,622 |
| Gross Cash Farm Income | 495,436 | 215,703 | 742,498 |
| Cash Farm Expense | |||
| Seed | 28,756 | 12,983 | 43,904 |
| Fertilizer | 33,721 | 16,298 | 50,368 |
| Crop chemicals | 63,840 | 23,609 | 95,361 |
| Crop insurance | 12,484 | 7,443 | 12,908 |
| Drying fuel | 299 | - | 288 |
| Crop miscellaneous | 30,530 | 9,777 | 32,379 |
| Feeder livestock purchase | 35 | 178 | - |
| Interest | 38,102 | 14,901 | 50,610 |
| Fuel & oil | 17,891 | 10,021 | 22,819 |
| Repairs | 26,764 | 17,030 | 35,465 |
| Custom hire | 12,482 | 8,039 | 12,139 |
| Hired labor | 14,593 | 3,267 | 29,396 |
| Land rent | 102,517 | 45,948 | 144,929 |
| Machinery & bldg leases | 8,162 | 2,432 | 6,467 |
| Real estate taxes | 4,538 | 2,474 | 6,863 |
| Farm insurance | 5,551 | 2,271 | 7,258 |
| Utilities | 3,842 | 2,491 | 5,633 |
| Dues & professional fees | 3,232 | 1,673 | 4,312 |
| Hedging account deposits | 1,096 | - | 2,823 |
| Miscellaneous | 8,291 | 7,038 | 9,208 |
| Total cash expense | 416,725 | 187,871 | 573,130 |
| Net cash farm income | 78,711 | 27,832 | 169,368 |
| Inventory Changes | |||
| Crops and feed | 18,956 | 3,751 | 31,702 |
| Market livestock | 73 | - | - |
| Accounts receivable | 22,944 | 2,025 | 33,975 |
| Prepaid expenses and supplies | 1,950 | -749 | 16,304 |
| Accounts payable | 2,472 | -3,885 | 3,219 |
| Total inventory change | 46,396 | 1,143 | 85,200 |
| Net operating profit | 125,106 | 28,975 | 254,567 |
| Depreciation and Other Capital Adjustments | |||
| Breeding livestock | -31 | - | - |
| Machinery and equipment | -19,497 | -12,614 | -25,784 |
| Buildings and improvements | -938 | -501 | -1,637 |
| Other farm capital | 7,852 | -1,335 | 23,378 |
| Total depr. and other capital adj | -12,613 | -14,450 | -4,043 |
| Net farm income | 112,493 | 14,525 | 250,524 |