Financial Summary
Farm Business Management - Moorhead
Northland Community & Technical College
(Farms Sorted By Net Farm Income)

	Avg. Of
	All Farms	Low 20%	40 - 60%	High 20%

Number of farms	77	15	16	16

Income Statement
Gross cash farm income	708,428	125,445	609,524	1,282,369
Total cash farm expense	586,899	97,563	501,063	1,038,904
Net cash farm income	121,529	27,882	108,461	243,465
Inventory change	103,985	2,424	87,289	257,627
Depreciation and capital adjust	-22,375	-7,455	-24,320	-30,866
Net farm income	203,139	22,851	171,430	470,226

Profitability (cost)
Labor and management earnings	159,138	11,284	139,710	382,586
Rate of return on assets	14.1 %	4.7 %	13.7 %	18.8 %
Rate of return on equity	20.4 %	3.2 %	23.3 %	26.5 %
Operating profit margin	24.5 %	12.1 %	24.5 %	30.6 %
Asset turnover rate	57.4 %	38.6 %	55.9 %	61.6 %

Profitability (market)
Labor and management earnings	169,840	13,244	170,661	375,668
Rate of return on assets	12.3 %	4.9 %	13.8 %	15.1 %
Rate of return on equity	18.4 %	5.0 %	24.0 %	22.4 %
Operating profit margin	27.4 %	20.0 %	30.2 %	31.4 %
Asset turnover rate	44.8 %	24.3 %	45.5 %	47.9 %

Liquidity
Ending current ratio	1.53	2.11	1.23	1.98
Ending working capital	164,275	49,794	77,039	452,634
End working capital to gross inc	23.2 %	39.7 %	12.6 %	35.3 %
Term debt coverage ratio	238.3 %	157.7 %	201.0 %	321.8 %
Expense as a percent of income	71.7 %	77.3 %	72.3 %	66.5 %
Interest as a percent of income	5.7 %	7.5 %	7.0 %	4.7 %

Solvency (cost)
Number of farms	77	15	16	16
Ending farm assets	1,483,312	355,164	1,329,528	2,625,343
Ending farm liabilities	685,984	163,179	748,547	1,001,409
Ending total assets	1,726,855	540,989	1,569,836	2,967,269
Ending total liabilities	761,974	182,427	842,760	1,124,560
Ending net worth	964,880	358,561	727,076	1,842,709
Net worth change	146,842	17,077	124,659	354,319
Ending farm debt to asset ratio	46 %	46 %	56 %	38 %
Beg total debt to asset ratio	47 %	34 %	58 %	43 %
End total debt to asset ratio	44 %	34 %	54 %	38 %

Solvency (market)
Number of farms	77	15	16	16
Ending farm assets	1,910,725	565,161	1,657,260	3,383,562
Ending farm liabilities	894,883	223,124	902,657	1,430,763
Ending total assets	2,204,269	808,841	1,925,881	3,822,330
Ending total liabilities	981,456	258,908	1,000,716	1,574,126
Ending net worth	1,222,813	549,933	925,166	2,248,204
Net worth change	175,410	33,955	163,972	374,202
Ending farm debt to asset ratio	47 %	39 %	54 %	42 %
Beg total debt to asset ratio	47 %	33 %	56 %	44 %
End total debt to asset ratio	45 %	32 %	52 %	41 %

Nonfarm Information
Net nonfarm income	17,273	32,147	12,208	7,873
Farms reporting living expenses	14	4	2	3
Total family living expense	36,544	-	-	-
Total living, invest, & capital	72,519	-	-	-

Crop Acres
Total acres owned	429	290	399	452
Total crop acres	1,830	499	1,755	2,725
Total crop acres owned	352	182	380	370
Total crop acres cash rented	1,429	280	1,337	2,349
Total crop acres share rented	49	37	37	6