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	75	15	15	15

Income Statement
Gross cash farm income	571,986	719,227	342,205	913,419
Total cash farm expense	499,540	649,777	277,325	746,337
Net cash farm income	72,445	69,450	64,879	167,082
Inventory change	-8,208	-98,606	-11,582	35,527
Depreciation and capital adjust	-25,242	-42,998	-16,936	-32,326
Net farm income	38,995	-72,154	36,361	170,283

Profitability (cost)
Labor and management earnings	-330	-116,425	12,573	91,881
Rate of return on assets	1.8 %	-4.7 %	3.5 %	6.6 %
Rate of return on equity	-1.6 %	-18.0 %	1.3 %	7.1 %
Operating profit margin	4.0 %	-12.3 %	8.6 %	14.3 %
Asset turnover rate	45.5 %	38.1 %	40.5 %	46.5 %

Profitability (market)
Labor and management earnings	10,308	-65,351	13,991	65,844
Rate of return on assets	2.8 %	-0.4 %	3.6 %	4.8 %
Rate of return on equity	1.4 %	-6.2 %	2.8 %	5.3 %
Operating profit margin	7.9 %	-1.5 %	11.5 %	13.2 %
Asset turnover rate	35.3 %	29.1 %	31.5 %	36.1 %

Liquidity
Ending current ratio	1.19	0.85	1.40	2.01
Ending working capital	56,887	-72,665	58,874	303,081
End working capital to gross inc	9.9 %	-10.1 %	17.2 %	33.2 %
Term debt coverage ratio	43.7 %	-49.3 %	76.9 %	155.9 %
Expense as a percent of income	88.8 %	104.6 %	83.8 %	78.4 %
Interest as a percent of income	5.8 %	8.4 %	7.0 %	4.0 %

Solvency (cost)
Number of farms	75	15	15	15
Ending farm assets	1,296,554	1,684,203	847,550	2,019,620
Ending farm liabilities	654,629	1,030,457	445,438	682,236
Ending total assets	1,532,706	2,056,911	1,067,715	2,241,565
Ending total liabilities	732,913	1,137,117	498,802	739,941
Ending net worth	799,792	919,794	568,913	1,501,624
Net worth change	-14,460	-150,725	10,891	84,662
Ending farm debt to asset ratio	50 %	61 %	53 %	34 %
Beg total debt to asset ratio	44 %	48 %	44 %	33 %
End total debt to asset ratio	48 %	55 %	47 %	33 %

Solvency (market)
Number of farms	75	15	15	15
Ending farm assets	1,670,229	2,231,011	1,083,534	2,586,032
Ending farm liabilities	823,406	1,244,480	538,391	979,595
Ending total assets	1,955,784	2,747,161	1,336,957	2,862,767
Ending total liabilities	912,116	1,385,527	595,470	1,048,053
Ending net worth	1,043,667	1,361,634	741,487	1,814,714
Net worth change	11,604	-72,372	21,836	81,440
Ending farm debt to asset ratio	49 %	56 %	50 %	38 %
Beg total debt to asset ratio	44 %	47 %	43 %	37 %
End total debt to asset ratio	47 %	50 %	45 %	37 %

Nonfarm Information
Net nonfarm income	16,818	18,843	16,931	9,268
Farms reporting living expenses	9	-	4	1
Total family living expense	32,480	-	31,967	41,355
Total living, invest, & capital	46,136	-	36,824	102,834

Crop Acres
Total acres owned	419	489	366	613
Total crop acres	1,755	2,072	1,116	2,577
Total crop acres owned	355	387	322	518
Total crop acres cash rented	1,357	1,655	784	2,033
Total crop acres share rented	44	30	10	27