Balance Sheet at Cost 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 69 15 13 11
Assets
Current Farm Assets
Cash and checking balance 21,689 19,577 -2,140 30,742
Prepaid expenses & supplies 46,062 9,414 38,001 89,386
Growing crops 3,788 - - 23,762
Accounts receivable 12,068 1,422 7,115 12,026
Hedging accounts 3,218 833 - 13,308
Crops held for sale or feed 241,014 73,408 249,919 463,807
Crops under government loan 12,788 147 16,150 5,696
Market livestock held for sale 258 1,133 - 73
Other current assets 18 85 - -
Total current farm assets 340,903 106,019 309,045 638,799
Intermediate Farm Assets
Breeding livestock 1,577 - 138 9,731
Machinery and equipment 248,553 61,716 222,133 455,841
Titled vehicles 6,255 1,230 5,308 19,020
Other intermediate assets 190,606 33,726 170,465 434,554
Total intermediate farm assets 446,992 96,672 398,044 919,146
Long Term Farm Assets
Farm land 284,465 139,375 274,382 583,392
Buildings and improvements 37,762 19,102 23,073 83,176
Other long-term assets 6,362 4,419 3,946 5,887
Total long-term farm assets 328,588 162,896 301,402 672,455
Total Farm Assets 1,116,483 365,587 1,008,491 2,230,400
Total Nonfarm Assets 209,113 154,275 151,170 355,581
Total Assets 1,325,596 519,862 1,159,661 2,585,981
Liabilities
Current Farm Liabilities
Accrued interest 8,656 3,443 10,635 10,471
Accounts payable 8,861 2,177 15,748 8,043
Current notes 150,067 31,977 131,666 314,894
Government crop loans 8,672 - 11,308 3,637
Principal due on term debt 44,517 9,445 45,117 78,926
Total current farm liabilities 220,773 47,041 214,474 415,971
Total intermediate farm liabs 138,315 37,775 140,180 246,037
Total long term farm liabilities 164,665 73,546 167,096 309,236
Total farm liabilities 523,752 158,362 521,751 971,244
Total nonfarm liabilities 67,703 16,267 67,144 117,880
Total liabilities 591,455 174,629 588,895 1,089,124
Net worth (farm and nonfarm) 734,141 345,233 570,767 1,496,857
Net worth change 86,013 10,349 62,268 241,680
Ratio Analysis
Current farm liabilities / assets 65 % 44 % 69 % 65 %
Curr. & interm farm liab. / assets 46 % 42 % 50 % 42 %
Long term farm liab. / assets 50 % 45 % 55 % 46 %
Total debt to asset ratio 45 % 34 % 51 % 42 %