Balance Sheet at Market 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 344,910 229,030 365,966 552,438
Titled vehicles 14,753 19,023 25,979 21,507
Other intermediate assets 282,865 169,618 250,955 535,183
Total intermediate farm assets 642,549 417,671 642,900 1,109,127
Long Term Farm Assets
Farm land 379,994 264,930 388,062 508,660
Buildings and improvements 63,636 67,716 34,631 80,249
Other long-term assets 11,249 5,542 6,504 28,418
Total long-term farm assets 454,879 338,188 429,196 617,327
Total Farm Assets 1,414,743 945,943 1,373,491 2,350,699
Total Nonfarm Assets 277,359 235,807 341,886 361,711
Total Assets 1,692,102 1,181,750 1,715,377 2,712,411
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 liabs excluding deferreds 663,353 528,201 775,103 847,508
Total deferred liabilities 138,445 71,705 136,018 273,312
Total liabilities 801,798 599,906 911,121 1,120,820
Retained earnings 744,775 491,484 661,593 1,376,106
Market valuation equity 145,530 90,360 142,663 215,484
Net worth (farm and nonfarm) 890,304 581,844 804,256 1,591,591
Net worth excluding deferreds 1,028,749 653,549 940,274 1,864,902
Net worth change 68,885 7,254 42,672 169,271
Ratio Analysis
Current farm liabilities / assets 77 % 107 % 96 % 56 %
Curr. & interm farm liab. / assets 40 % 53 % 47 % 30 %
Long term farm liab. / assets 44 % 50 % 51 % 36 %
Total debt to asset ratio 47 % 51 % 53 % 41 %
Debt to assets excl deferreds 39 % 45 % 45 % 31 %