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

Avg. Of
All Farms Low 20% 40 - 60% High 20%
Number of farms 64 14 11 10
Beginning Ending Beginning Ending Beginning Ending Beginning Ending
Assets
Current Farm Assets
Cash and checking balance 18,927 23,712 4,138 12,191 31,968 31,861 16,933 14,553
Prepaid expenses & supplies 24,347 35,032 12,032 12,112 18,318 21,071 46,304 80,871
Growing crops 0 0 0 0 0 0 0 0
Accounts receivable 30,914 11,703 20,028 12,031 17,745 5,693 42,544 16,797
Hedging accounts 1,072 1,673 74 310 182 91 5,571 8,895
Crops held for sale or feed 164,823 180,472 97,501 78,770 122,401 141,732 329,459 401,524
Crops under government loan 175 1,861 66 4,168 0 1,231 127 0
Market livestock held for sale 36 25 0 0 0 0 0 0
Other current assets 5,000 5,201 0 0 138 138 0 0
Total current farm assets 245,293 259,679 133,838 119,582 190,753 201,818 440,937 522,641
Intermediate Farm Assets
Breeding livestock 38 66 0 0 0 0 0 0
Machinery and equipment 231,586 259,053 147,660 169,134 173,757 200,803 391,674 423,466
Other intermediate assets 198,252 219,888 69,296 80,050 114,173 121,861 443,249 489,097
Total intermediate farm assets 429,875 479,007 216,956 249,183 287,930 322,664 834,923 912,563
Long Term Farm Assets
Farm land 318,234 340,287 267,952 267,952 129,777 129,777 534,238 600,558
Buildings and improvements 37,954 41,078 14,456 16,599 20,227 22,545 53,330 64,734
Other long-term assets 8,580 9,919 2,050 2,150 9,523 10,943 23,695 26,268
Total long-term farm assets 364,768 391,283 284,458 286,701 159,527 163,266 611,263 691,559
Total Farm Assets 1,039,935 1,129,969 635,252 655,466 638,210 687,748 1,887,123 2,126,763
Total Nonfarm Assets 206,407 208,616 168,037 163,580 202,724 201,714 366,115 368,154
Total Assets 1,246,343 1,338,585 803,290 819,046 840,934 889,462 2,253,238 2,494,917
Liabilities
Current Farm Liabilities
Accrued interest 9,668 9,343 9,188 9,679 8,821 6,508 4,693 3,441
Accounts payable 6,889 6,576 4,907 4,330 12,885 9,396 9,900 9,188
Current notes 112,058 127,678 91,839 96,989 72,956 85,646 219,318 239,270
Government crop loans 0 689 0 3,151 0 0 0 0
Principal due on term debt 37,521 38,891 20,203 22,330 20,665 21,946 69,386 65,573
Total current farm liabilities 166,137 183,177 126,137 136,479 115,327 123,497 303,296 317,472
Total intermediate farm liabs 133,451 122,444 98,937 98,870 87,803 82,225 175,233 153,903
Total long term farm liabilities 159,392 164,035 137,079 136,180 84,465 82,900 268,889 307,677
Total farm liabilities 458,980 469,656 362,153 371,529 287,596 288,622 747,418 779,051
Total nonfarm liabilities 38,426 42,134 25,657 28,840 27,966 24,727 63,798 67,814
Total liabs excluding deferreds 497,406 511,790 387,810 400,370 315,561 313,349 811,216 846,865
Total deferred liabilities 131,540 129,532 67,050 56,982 83,696 80,692 265,079 289,110
Total liabilities 628,946 641,321 454,861 457,352 399,258 394,041 1,076,295 1,135,975
Retained earnings 550,884 603,348 311,198 300,568 397,104 441,631 1,039,464 1,194,964
Market valuation equity 66,513 93,916 37,232 61,127 44,573 53,789 137,479 163,978
Net worth (farm and nonfarm) 617,397 697,264 348,429 361,694 441,677 495,421 1,176,943 1,358,942
Net worth excluding deferreds 748,936 826,796 415,479 418,677 525,373 576,113 1,442,022 1,648,052
Net worth change 79,867 13,265 53,744 181,999
Ratio Analysis
Current farm liabilities / assets 68 % 71 % 94 % 114 % 60 % 61 % 69 % 61 %
Curr. & interm farm liab. / assets 44 % 41 % 64 % 64 % 42 % 39 % 38 % 33 %
Long term farm liab. / assets 44 % 42 % 48 % 47 % 53 % 51 % 44 % 44 %
Total debt to asset ratio 50 % 48 % 57 % 56 % 47 % 44 % 48 % 46 %
Debt to assets excl deferreds 40 % 38 % 48 % 49 % 38 % 35 % 36 % 34 %