Farm Business Management -- Reports -- State-wide Minnesota 2004

	Avg. Of
	All Farms	Low 20%	20 - 40%	40 - 60%	60 - 80%	High 20%

Number of farms	2234	446	447	447	447	447

Liquidity (cash)
Net cash farm income	79,033	15,919	37,869	59,146	96,838	185,251
Net nonfarm income	21,589	34,171	26,277	18,822	15,013	13,688
Family living and taxes	46,863	36,864	38,096	42,001	48,742	68,588
Principal due on long term debt	14,246	10,343	10,024	10,801	14,517	25,535
Cash available for interm. debt	39,513	2,883	16,026	25,166	48,592	104,815
Average intermediate debt	118,669	85,613	82,186	99,686	121,737	204,049

Years to turnover interm. debt	3.0	29.7	5.1	4.0	2.5	1.9
Expense as a % of income	82 %	93 %	84 %	81 %	79 %	81 %
Interest as a % of income	5 %	9 %	7 %	6 %	5 %	4 %

Liquidity (accrual)
Total accrual farm income	453,233	204,454	237,588	321,691	463,547	1,038,327
Total accrual operating expense	355,518	198,519	199,648	253,459	352,368	773,242
Net accrual operating income	97,715	5,935	37,940	68,231	111,179	265,085
Net nonfarm income	21,589	34,171	26,277	18,822	15,013	13,688
Family living and taxes	46,863	36,864	38,096	42,001	48,742	68,588
Principal due on long term debt	14,246	10,343	10,024	10,801	14,517	25,535
Available for intermediate debt	58,195	-7,100	16,096	34,251	62,932	184,648
Average intermediate debt	118,669	85,613	82,186	99,686	121,737	204,049

Years to turnover interm. debt	2.0	**	5.1	2.9	1.9	1.1
Expense as a % of income	78 %	97 %	84 %	79 %	76 %	74 %
Interest as a % of income	5 %	9 %	7 %	6 %	5 %	4 %

** Income insufficient to meet debt servicing requirements