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 67 14 14 13
Assets
Current Farm Assets
Cash and checking balance 24,982 28,669 20,476 48,480
Prepaid expenses & supplies 42,656 38,972 41,790 95,836
Growing crops - - - -
Accounts receivable 35,562 18,166 32,441 71,056
Hedging accounts 1,740 679 3,845 2,746
Crops held for sale or feed 197,884 81,506 195,810 381,865
Crops under government loan 13,778 22,092 7,032 24,262
Market livestock held for sale 441 - - -
Other current assets 273 - - -
Total current farm assets 317,316 190,084 301,394 624,245
Intermediate Farm Assets
Breeding livestock 21 - - -
Machinery and equipment 258,728 184,257 267,330 401,577
Titled vehicles 11,880 18,098 19,623 15,970
Other intermediate assets 203,867 141,403 203,846 324,861
Total intermediate farm assets 474,496 343,759 490,799 742,408
Long Term Farm Assets
Farm land 328,642 238,670 342,091 463,406
Buildings and improvements 48,287 48,452 23,890 66,632
Other long-term assets 7,947 5,542 6,504 11,558
Total long-term farm assets 384,876 292,664 372,485 541,596
Total Farm Assets 1,176,689 826,507 1,164,679 1,908,248
Total Nonfarm Assets 231,439 193,179 272,018 315,366
Total Assets 1,408,128 1,019,685 1,436,697 2,223,615
Liabilities
Current Farm Liabilities
Accrued interest 8,515 8,652 7,916 8,218
Accounts payable 12,119 5,759 14,917 14,319
Current notes 165,943 135,783 201,971 237,281
Government crop loans 12,306 20,182 6,349 21,318
Principal due on term debt 46,486 33,203 57,157 66,018
Total current farm liabilities 245,370 203,579 288,309 347,154
Total intermediate farm liabs 139,785 117,078 158,475 175,517
Total long term farm liabilities 199,495 168,811 218,288 223,293
Total farm liabilities 584,650 489,468 665,071 745,964
Total nonfarm liabilities 78,703 38,732 110,032 101,544
Total liabilities 663,353 528,201 775,103 847,508
Net worth (farm and nonfarm) 744,775 491,484 661,593 1,376,106
Net worth change 32,458 -26,973 17,884 124,297
Ratio Analysis
Current farm liabilities / assets 77 % 107 % 96 % 56 %
Curr. & interm farm liab. / assets 49 % 60 % 56 % 38 %
Long term farm liab. / assets 52 % 58 % 59 % 41 %
Total debt to asset ratio 47 % 52 % 54 % 38 %