2002 ANNUAL REPORT

MOORHEAD, MINNESOTA AREA FARM BUSINESS MGT. PROGRAM

NORTHLAND COMMUNITY & TECHNICAL COLLEGE

Table of Contents

Financial Information

Net Farm Income Statement

Farm Inventory Changes

Depreciation and Capital Adjustments

Profitability Analysis

Liquidity Analysis

Balance Sheet (Cost)

Balance Sheet (Market)

Statement of Cash Flows

Financial Guidelines

Household and Personal Expenses

Financial General Information Summary

Operator and Labor Information Summary

Crop Information

Barleyon Cash Rented Land

Beans, Navy on Cash Rented Land

Corn on Cash Rented Land

Corn on Owned Land

Soybeans-conventional on Cash Rented Land

Soybeans-roundup ready on Cash Rented Land

Soybeans-conventional on Owned Land

Soybeans-roundup ready on Owned Land

Soybeans - Share Rented Land

Spring Wheat on Cash Rented Land

Spring Wheat on Owned Land

Spring Wheat on Share Rented Land

Sugarbeets on Cash Rented Land with owned sugarbeet stock

Sugarbeets on Owned Land with owned sugarbeet stock

Sugarbeets on Cash Rented Land with joint ventured stock

Sugarbeets on Owned Land with joint ventured stock

Sunflowers-Confectionary on Cash Rented Land