Red
River Valley Reports For 1998
TABLE 5
BALANCE SHEET AT COST VALUES, 1998
Minnesota and North Dakota Farm Business Mgmt Education
(Farms sorted by Net Farm Income)
Average Of Average Of Average Of
All Farms Low 20 % High 20 %
---------- ---------- ----------
Number of Farms 173 32 28
Beginning Ending Beginning Ending Beginning Ending
ASSETS --------- --------- --------- --------- --------- ---------
Current Farm Assets
Cash and checking balance 8559 12824 5333 14076 8341 16810
Prepaid expenses & supplies 21865 17156 26715 12962 35393 36070
Growing crops 167 36 - - - -
Accounts receivable 18331 24102 8737 13262 47438 50377
Hedging accounts 763 807 761 2026 1861 621
Crops held for sale or feed 125193 114023 176901 124898 191943 206851
Crops under government loan 8493 6981 14753 16448 6012 9696
Market livestock held for sale 4255 2577 - - 6744 3664
Other current assets 363 1081 338 - 79 5348
Total current farm assets 187990 179586 233537 183672 297810 329438
Intermediate Farm Assets
Breeding livestock 2369 1849 569 641 5880 5012
Machinery and equipment 169646 171703 174354 172234 287642 296037
Other intermediate assets 108410 121055 167578 169310 150856 183335
Total intermediate farm assets 280425 294606 342501 342185 444378 484385
Long-Term Farm Assets
Farm land 245084 260254 255423 263660 409242 466183
Buildings and improvements 31973 35118 23294 23746 74597 78182
Other long-term assets 15940 17424 14117 13904 51465 56676
Total long-term farm assets 292997 312796 292834 301311 535304 601040
Total Farm Assets 761413 786988 868872 827168 1277492 1414863
Total Nonfarm Assets 123351 135322 151391 162021 147905 151621
Total Assets 884763 922310 1020263 989189 1425398 1566484
LIABILITIES
Current Farm Liabilities
Accrued interest 8823 11929 8269 17517 12606 12768
Accounts payable 11421 13706 14737 29085 17929 12148
Current notes 95320 96753 138886 147021 128862 125648
Government crop loans 3413 4052 8441 12205 3661 6340
Principal due on term debt 30050 33740 38876 50101 41975 46891
Total current farm liabilities 149056 160273 209252 255974 205055 203834
Intermediate Farm Liabilities 115487 122295 167431 158927 156529 165487
Long-term Farm Liabilities 139408 161439 169094 193234 224177 286119
Total Farm Liabilities 403951 444008 545777 608136 585761 655440
Total Nonfarm Liabilities 20956 21604 39475 41815 13997 12727
Total Liabilities 424907 465612 585251 649951 599758 668168
Net Worth (farm and nonfarm) 459857 456698 435011 339238 825640 898316
Net Worth Change -3159 -95773 72676
RATIO ANALYSIS
Current Farm Liabilities / Assets 79 % 89 % 90 % 139 % 69 % 62 %
Curr. & Interm Farm Liab / Assets 56 % 60 % 65 % 79 % 49 % 45 %
Long Term Farm Liab. / Assets 48 % 52 % 58 % 64 % 42 % 48 %
Total Liabilities / Assets 48 % 50 % 57 % 66 % 42 % 43 %
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