Farm Income Statement
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 73 14 14 15
Cash Farm Income
Barley 2,715 499 1,261 9,018
Beans, Black Turtle 314 - - -
Beans, Navy 2,412 2,131 - 6,072
Beans, Pinto 169 - - -
Corn 18,558 6,221 8,008 49,749
Hay, Alfalfa 2,172 3,446 2,351 3,130
Potatoes 4,424 - - 21,529
Soybeans 70,796 56,853 53,295 117,380
Sugar Beets 179,762 48,277 157,057 362,672
Sunflowers 1,863 667 - 3,974
Sunflowers, Confectionary 7,536 3,910 11,017 13,883
Wheat, Spring 96,055 65,992 82,256 142,837
Miscellaneous crop income 114 78 - -
Misc. livestock income 50 134 - -
Transition payments 38,056 22,330 34,695 60,724
CRP payments 716 315 438 1,773
Other government payments 56,643 28,291 43,888 93,708
Custom work income 9,059 2,529 2,438 16,594
Patronage dividends, cash 8,524 2,890 7,079 19,514
Insurance income 15,512 17,680 9,087 28,437
Cash from hedging accts 189 14 - 713
Other farm income 15,335 10,658 9,371 32,123
Gross Cash Farm Income 530,976 272,915 422,240 983,830
Cash Farm Expense
Seed 34,884 18,042 29,157 63,190
Fertilizer 38,450 20,027 32,781 68,442
Crop chemicals 63,279 37,356 48,072 107,939
Crop insurance 13,848 8,363 11,702 23,018
Drying fuel 293 - 256 967
Crop marketing 622 48 159 644
Crop miscellaneous 18,154 5,750 7,308 56,208
Feeder livestock purchase 33 162 - -
Interest 33,106 21,966 21,452 57,498
Fuel & oil 20,595 11,340 15,471 37,321
Repairs 34,734 20,802 23,885 66,070
Custom hire 9,722 6,590 9,373 15,086
Hired labor 19,368 7,749 11,723 42,296
Owner wages & benefits 3,553 - 2,983 13,333
Land rent 99,718 55,976 111,187 156,487
Machinery & bldg leases 7,695 7,531 5,736 11,174
Real estate taxes 5,471 3,167 3,368 12,462
Farm insurance 6,221 3,246 6,030 11,494
Utilities 4,642 2,575 3,304 8,550
Dues & professional fees 3,908 1,875 4,604 6,439
Hedging account deposits 2,555 496 335 10,179
Miscellaneous 7,945 4,879 4,225 18,491
Total cash expense 428,797 237,940 353,110 787,288
Net cash farm income 102,179 34,975 69,129 196,542
Inventory Changes
Crops and feed 23,592 -14,629 17,956 86,288
Market livestock -10 - - -
Accounts receivable -22,020 -7,761 -10,629 -41,554
Prepaid expenses and supplies 9,543 79 4,518 20,939
Accounts payable 110 86 6,594 -2,796
Total inventory change 11,216 -22,224 18,440 62,877
Net operating profit 113,395 12,751 87,570 259,419
Depreciation and Other Capital Adjustments
Breeding livestock -35 - - -
Machinery and equipment -20,354 -9,939 -17,481 -34,019
Buildings and improvements -1,223 -392 -759 -2,583
Other farm capital 5,512 -361 2,558 18,685
Total depr. and other capital adj -16,099 -10,693 -15,681 -17,917
Net farm income 97,296 2,058 71,888 241,501