Financial Summary
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

Income Statement
Gross cash farm income	530,976	272,915	422,240	983,830
Total cash farm expense	428,797	237,940	353,110	787,288
Net cash farm income	102,179	34,975	69,129	196,542
Inventory change	11,216	-22,224	18,440	62,877
Depreciation and capital adjust	-16,099	-10,693	-15,681	-17,917
Net farm income	97,296	2,058	71,888	241,501

Profitability (cost)
Labor and management earnings	67,881	-9,240	50,521	184,652
Rate of return on assets	9.4 %	0.3 %	9.1 %	13.1 %
Rate of return on equity	12.5 %	-11.5 %	11.7 %	19.5 %
Operating profit margin	17.7 %	0.6 %	13.8 %	23.7 %
Asset turnover rate	53.4 %	45.7 %	66.2 %	55.0 %

Profitability (market)
Labor and management earnings	97,009	13,202	63,548	228,792
Rate of return on assets	10.4 %	4.0 %	9.5 %	12.3 %
Rate of return on equity	16.4 %	1.6 %	14.4 %	20.4 %
Operating profit margin	24.2 %	10.4 %	17.4 %	29.5 %
Asset turnover rate	42.8 %	38.8 %	54.9 %	41.8 %

Liquidity
Term debt coverage ratio	136.3 %	49.8 %	172.4 %	161.6 %
Expense as a percent of income	78.7 %	94.9 %	79.6 %	74.8 %
Interest as a percent of income	6.2 %	9.0 %	4.1 %	5.8 %

Solvency (cost)
Number of sole proprietors	64	14	11	10
Ending farm assets	940,805	551,055	586,709	1,784,102
Ending farm liabilities	469,656	371,529	288,622	779,051
Ending total assets	1,115,138	700,937	754,980	2,041,829
Ending total liabilities	511,790	400,370	313,349	846,865
Ending net worth	603,348	300,568	441,631	1,194,964
Net worth change	52,464	-10,630	44,528	155,500
Ending farm debt to asset ratio	50 %	67 %	49 %	44 %
Beg total debt to asset ratio	47 %	55 %	44 %	44 %
End total debt to asset ratio	46 %	57 %	42 %	41 %

Solvency (market)
Number of sole proprietors	64	14	11	10
Ending farm assets	1,129,969	655,466	687,748	2,126,763
Ending farm liabilities	590,037	425,458	357,211	1,040,249
Ending total assets	1,338,585	819,046	889,462	2,494,917
Ending total liabilities	641,321	457,352	394,041	1,135,975
Ending net worth	697,264	361,694	495,421	1,358,942
Net worth change	79,867	13,265	53,744	181,999
Ending farm debt to asset ratio	52 %	65 %	52 %	49 %
Beg total debt to asset ratio	50 %	57 %	47 %	48 %
End total debt to asset ratio	48 %	56 %	44 %	46 %

Nonfarm Information
Net nonfarm income	14,226	24,274	15,788	11,823
Farms reporting living expenses	27	4	4	4
Total family living expense	36,544	-	-	-
Total living, invest, & capital	60,871	-	-	-

Crop Acres
Total acres owned	367	296	126	628
Total crop acres	1,677	1,144	1,497	2,693
Total crop acres owned	320	247	113	568
Total crop acres cash rented	1,317	782	1,385	2,102
Total crop acres share rented	40	115	-	24