Red River Valley Reports For 1998

                                                                TABLE 13 - 2                              
                                                         Type Of Farm Report, 1998                        
                                          Minnesota and North Dakota Farm Business Mgmt Education         
                                                              Red River Valley                            


                                                                         Average For                      
                                                                          All Farms     Crop       Other  
                                                                         -----------  ---------  ---------
                                 Number of farms                                 197        146         47

                                 Income Statement
                                   Gross cash farm income                     399008     423552     297537
                                   Total cash farm expense                    337948     356900     256575
                                   Net cash farm income                        61061      66653      40961
                                   Inventory change                           -21534     -24249     -14168
                                   Depreciation and capital adjustment        -18964     -18863     -17592
                                   Net farm income                             20563      23541       9201

                                 Profitability (cost)
                                   Labor and management earnings               -3876      -2287      -9520
                                   Rate of return on assets                      3 %        3 %        2 %
                                   Rate of return on equity                     -2 %       -2 %       -5 %
                                   Operating profit margin                       6 %        6 %        5 %
                                   Asset turnover rate                          44 %       45 %       42 %

                                 Liquidity
                                   Term debt coverage ratio                     50 %       48 %       47 %
                                   Expense as a percent of income               90 %       90 %       91 %
                                   Interest as a percent of income               9 %        9 %       10 %

                                 Solvency (market)
                                   Number of sole proprietors                    173        126         44
                                   Ending farm assets                         959068     979426     787062
                                   Ending farm liabilities                    545060     537839     494305
                                   Ending total assets                       1104111    1138390     897950
                                   Ending total liabilities                   567129     558744     519975
                                   Ending net worth                           536982     579646     377976
                                   Net worth change                             9230      15268      -6667
                                   Ending farm debt to asset ratio              57 %       55 %       63 %
                                   Beg total debt to asset ratio                50 %       48 %       56 %
                                   End total debt to asset ratio                51 %       49 %       58 %

                                 Nonfarm Information
                                   Farms reporting living expenses                23         16          7
                                   Total family living expense                 29932      32305      24508
                                   Total living, invest, & capital purch       55087      60898      41805
                                   Net nonfarm income                          15088      14949      16117

                                 Crop Acres
                                   Total acres owned                             372        386        272
                                   Total crop acres                             1485       1538       1303
                                   Total crop acres owned                        327        343        222
                                   Total crop acres cash rented                 1052       1094        961
                                   Total crop acres share rented                 105        101        120

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