Red River Valley Reports For 1998

                                               TABLE 3                                    
                          DEPRECIATION AND OTHER CAPITAL ADJUSTMENTS, 1998                
                       Minnesota and North Dakota Farm Business Mgmt Education            
                                          Red River Valley                                
                                  (Farms sorted by Net Farm Income)                       


                                                     Average Of   Average Of   Average Of
                                                      All Farms     Low 20%    High 20% 
                                                     ----------   ----------   ----------
          Number of Farms                                   197           39           39

          Net operating profit                            39527       -60036       154110

          BREEDING LIVESTOCK
            Ending inventory                               3072          526         8788
            Capital sales                                   597           58         2366
            Beginning inventory                            3761          467        10213
            Capital purchases                               151            0          425
            Depreciation, capital adj.                     -242          116          517

          MACHINERY AND EQUIPMENT
            Ending inventory                             196109       201969       338739
            Capital sales                                  3593         2959         5920
            Beginning inventory                          193951       203398       328860
            Capital purchases                             25580        25131        46946
            Depreciation, capital adj.                   -19830       -23601       -31147

          BUILDINGS AND IMPROVEMENTS
            Ending inventory                              39532        21539        94788
            Capital sales                                   318           -            - 
            Beginning inventory                           36976        21188        93104
            Capital purchases                              3625          888         3783
            Depreciation, capital adj.                     -751         -536        -2099

          OTHER CAPITAL ASSETS
            Ending inventory                             159594       233552       248726
            Capital sales                                  2428         3259         6362
            Beginning inventory                          145816       232417       216074
            Capital purchases                             14347         3120        35201
            Depreciation, capital adj.                     1859         1273         3812

          Total depreciation, capital adj.               -18964       -22747       -28917

          Net farm income                                 20563       -82783       125193

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