Red River Valley Reports For 1999

                                                                TABLE 13 - 1                                         
                                                         Size Of Farm Report, 1999                                   
                                          Minnesota and North Dakota Farm Business Mgmt Education                    
                                                              Red River Valley                                       
                                                  (Farms Sorted By Gross Cash Farm Income)                           

                                                              Average For   40,001 -  100,001 -  200,001 -           
                                                               All Farms     100,000    200,000    500,000  500,001 +
                                                              

                      Number of farms                                 211          8         29        107         66

                      Income Statement
                        Gross cash farm income                     467944      74146     148906     336289     875883
                        Total cash farm expense                    394956      59958     126694     281976     741797
                        Net cash farm income                        72988      14188      22212      54313     134086
                        Inventory change                            33113       1871      17358      21519      62984
                        Depreciation and capital adjustment        -19049      -6356      -5512     -14264     -34552
                        Net farm income                             87052       9702      34058      61568     162517

                      Profitability (cost)
                        Labor and management earnings               59086       1291      24011      41176     111155
                        Rate of return on assets                      9 %        2 %        8 %        9 %       10 %
                        Rate of return on equity                     11 %       -4 %       10 %       10 %       12 %
                        Operating profit margin                      18 %        6 %       17 %       18 %       19 %
                        Asset turnover rate                          50 %       28 %       48 %       49 %       50 %

                      Liquidity
                        Term debt coverage ratio                    151 %      105 %      157 %      144 %      157 %
                        Expense as a percent of income               79 %       80 %       76 %       79 %       79 %
                        Interest as a percent of income               8 %       13 %        7 %        8 %        8 %

                      Solvency (market)
                        Number of sole proprietors                    170          6         28         99         36
                        Ending farm assets                        1050062     434258     431304     912175    2032413
                        Ending farm liabilities                    549732     188867     237561     460165    1110682
                        Ending total assets                       1204742     536520     498027    1074100    2246445
                        Ending total liabilities                   587866     193482     263290     490806    1184196
                        Ending net worth                           616875     343037     234737     583294    1062250
                        Net worth change                            58499      15306      25102      53208     102569
                        Ending farm debt to asset ratio              52 %       43 %       55 %       50 %       55 %
                        Beg total debt to asset ratio                50 %       38 %       53 %       48 %       54 %
                        End total debt to asset ratio                49 %       36 %       53 %       46 %       53 %

                      Nonfarm Information
                        Farms reporting living expenses                23          2          3         15          2
                        Total family living expense                 31543         -          -       33975         - 
                        Total living, invest, & capital purch       45512         -          -       45259         - 
                        Net nonfarm income                          16283      20958      19109      19385       9106

                      Crop Acres
                        Total acres owned                             412        209        175        321        692
                        Total crop acres                             1729        441        746       1381       2906
                        Total crop acres owned                        376        186        152        285        648
                        Total crop acres cash rented                 1240        171        498        981       2134
                        Total crop acres share rented                 113         84         97        115        124

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