TABLE - 8                                                     
                                                  FINANCIAL GUIDELINES MEASURES, 1999                                        
                                        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                                           211                      42                      42

          LIQUIDITY                                     Beginning      Ending   Beginning      Ending   Beginning      Ending
            Current ratio                                    1.22        1.43        0.89        0.95        1.36        1.66
            Working capital                                 41866       82711      -16812       -6178      116243      213404

          SOLVENCY (Market)                             Beginning      Ending   Beginning      Ending   Beginning      Ending
            Farm debt to asset ratio                         54 %        52 %        64 %        65 %        51 %        47 %
            Farm equity to asset ratio                       46 %        48 %        36 %        35 %        49 %        53 %
            Farm debt to equity ratio                       119 %       109 %       175 %       185 %       102 %        89 %

          PROFITABILITY (Cost)
            Rate of return on farm assets                         9.1 %                   0.5 %                  12.8 %
            Rate of return on farm equity                        11.4 %                 -12.3 %                  17.8 %
            Operating profit margin                              18.5 %                   1.1 %                  25.6 %
            Net farm income                                       87254                   -1947                  225351

          REPAYMENT CAPACITY                                 Cash     Accrual        Cash     Accrual        Cash     Accrual
            Term debt coverage ratio                        102 %       151 %        77 %        60 %       129 %       220 %
            Capital replacement margin                       1560       34673      -10183      -17803       30104      125700

          EFFICIENCY
            Asset turnover rate (cost)                           49.5 %                  46.2 %                  49.8 %
            Operating expense ratio                              70.8 %                  84.8 %                  65.6 %
            Depreciation expense ratio                            3.9 %                   5.7 %                   2.9 %
            Interest expense ratio                                7.7 %                  10.2 %                   6.7 %
            Net farm income ratio                                17.6 %                  -0.8 %                  24.8 %