Red River Valley Reports For 1999

                                                                TABLE 13 - 2                              
                                                         Type Of Farm Report, 1999                        
                                          Minnesota and North Dakota Farm Business Mgmt Education         
                                                              Red River Valley                            

                                                                         Average For                      
                                                                          All Farms     Crop       Other  
                                                                         

                                 Number of farms                                 211         97        112

                                 Income Statement
                                   Gross cash farm income                     467944     508600     430800
                                   Total cash farm expense                    394956     423611     368094
                                   Net cash farm income                        72988      84988      62706
                                   Inventory change                            33113      25505      39086
                                   Depreciation and capital adjustment        -19049     -16488     -21123
                                   Net farm income                             87052      94005      80669

                                 Profitability (cost)
                                   Labor and management earnings               59086      60899      57092
                                   Rate of return on assets                      9 %        9 %        9 %
                                   Rate of return on equity                     11 %       10 %       12 %
                                   Operating profit margin                      18 %       18 %       19 %
                                   Asset turnover rate                          50 %       50 %       50 %

                                 Liquidity
                                   Term debt coverage ratio                    151 %      142 %      159 %
                                   Expense as a percent of income               79 %       79 %       78 %
                                   Interest as a percent of income               8 %        7 %        8 %

                                 Solvency (market)
                                   Number of sole proprietors                    170         74         94
                                   Ending farm assets                        1050062    1116280     988411
                                   Ending farm liabilities                    549732     529251     555659
                                   Ending total assets                       1204742    1320252    1104792
                                   Ending total liabilities                   587866     566750     593892
                                   Ending net worth                           616875     753502     510901
                                   Net worth change                            58499      65665      53120
                                   Ending farm debt to asset ratio              52 %       47 %       56 %
                                   Beg total debt to asset ratio                50 %       44 %       55 %
                                   End total debt to asset ratio                49 %       43 %       54 %

                                 Nonfarm Information
                                   Farms reporting living expenses                23         10         13
                                   Total family living expense                 31543      27068      34986
                                   Total living, invest, & capital purch       45512      39330      50267
                                   Net nonfarm income                          16283      12285      19806

                                 Crop Acres
                                   Total acres owned                             412        386        434
                                   Total crop acres                             1729       1752       1709
                                   Total crop acres owned                        376        346        402
                                   Total crop acres cash rented                 1240       1279       1204
                                   Total crop acres share rented                 113        127        104

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