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	78	15	15	16

Income Statement
Gross cash farm income	609,506	168,736	567,976	1,050,397
Total cash farm expense	469,835	135,002	439,471	791,362
Net cash farm income	139,671	33,735	128,505	259,036
Inventory change	22,440	-1,972	22,247	63,465
Depreciation and capital adjust	-25,552	-9,450	-28,133	-38,775
Net farm income	136,558	22,313	122,619	283,725

Profitability (cost)
Labor and management earnings	98,915	9,846	89,411	211,074
Rate of return on assets	10.2 %	3.5 %	9.6 %	11.9 %
Rate of return on equity	14.2 %	1.6 %	13.9 %	16.8 %
Operating profit margin	18.9 %	7.9 %	18.0 %	22.9 %
Asset turnover rate	53.6 %	44.4 %	53.2 %	51.8 %

Profitability (market)
Labor and management earnings	112,843	11,017	103,902	222,677
Rate of return on assets	9.7 %	3.7 %	9.1 %	10.6 %
Rate of return on equity	15.0 %	3.0 %	14.4 %	16.7 %
Operating profit margin	22.2 %	10.8 %	22.0 %	24.6 %
Asset turnover rate	43.5 %	34.4 %	41.2 %	43.0 %

Liquidity
Ending current ratio	1.54	2.25	1.44	1.54
Ending working capital	106,269	58,977	81,961	153,195
End working capital to gross inc	17.4 %	35.0 %	14.4 %	14.6 %
Term debt coverage ratio	192.8 %	132.8 %	192.6 %	228.2 %
Expense as a percent of income	73.9 %	80.9 %	74.3 %	70.4 %
Interest as a percent of income	4.5 %	5.8 %	4.4 %	4.3 %

Solvency (cost)
Number of sole proprietors	69	15	13	11
Ending farm assets	1,116,483	365,587	1,008,491	2,230,400
Ending farm liabilities	523,752	158,362	521,751	971,244
Ending total assets	1,325,596	519,862	1,159,661	2,585,981
Ending total liabilities	591,455	174,629	588,895	1,089,124
Ending net worth	734,141	345,233	570,767	1,496,857
Net worth change	86,013	10,349	62,268	241,680
Ending farm debt to asset ratio	47 %	43 %	52 %	44 %
Beg total debt to asset ratio	46 %	35 %	52 %	46 %
End total debt to asset ratio	45 %	34 %	51 %	42 %

Solvency (market)
Number of sole proprietors	69	15	13	11
Ending farm assets	1,321,871	472,780	1,175,290	2,563,654
Ending farm liabilities	658,510	199,543	643,961	1,244,271
Ending total assets	1,573,502	668,322	1,350,815	3,045,633
Ending total liabilities	735,390	227,403	715,839	1,387,254
Ending net worth	838,112	440,918	634,976	1,658,379
Net worth change	104,654	16,838	80,286	256,715
Ending farm debt to asset ratio	50 %	42 %	55 %	49 %
Beg total debt to asset ratio	49 %	36 %	55 %	49 %
End total debt to asset ratio	47 %	34 %	53 %	46 %

Nonfarm Information
Net nonfarm income	17,173	24,948	13,135	21,135
Farms reporting living expenses	18	7	2	3
Total family living expense	37,020	29,190	-	-
Total living, invest, & capital	66,055	58,749	-	-

Crop Acres
Total acres owned	353	253	335	549
Total crop acres	1,747	697	1,878	2,555
Total crop acres owned	293	145	321	530
Total crop acres cash rented	1,406	475	1,464	1,973
Total crop acres share rented	48	77	93	52