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

Nonfarm Income
Nonfarm wages & salary	15,813	26,356	20,112	14,120	10,685	7,814
Net nonfarm business income	1,473	1,924	1,906	1,520	1,731	285
Nonfarm rental income	442	744	402	183	342	538
Nonfarm interest income	295	376	248	157	381	312
Nonfarm cash dividends	146	161	84	175	179	134
Tax refunds	842	1,391	953	826	616	425
Other nonfarm income	2,606	3,220	2,573	1,844	1,175	4,219
Total nonfarm income	21,616	34,171	26,277	18,824	15,108	13,728

Gifts and inheritances	3,885	3,670	2,177	5,514	2,013	6,051

Nonfarm Assets (market)
Checking & savings	5,778	5,020	5,532	4,504	4,299	9,536
Stocks & bonds	8,774	6,205	6,843	11,507	8,436	10,875
Other current assets	4,344	1,005	3,707	7,898	4,738	4,367
Furniture & appliances	9,956	10,544	9,577	10,003	9,793	9,864
Nonfarm vehicles	11,021	11,160	11,526	10,421	10,236	11,765
Cash value of life ins.	9,681	5,969	7,178	9,835	10,578	14,836
Retirement accounts	25,415	20,639	25,309	20,345	26,018	34,753
Other intermediate assets	7,051	7,605	4,624	5,852	8,395	8,780
Nonfarm real estate	52,273	56,192	52,579	46,357	45,649	60,596
Other long term assets	6,562	6,210	5,394	6,073	5,159	9,975
Total nonfarm assets	140,857	130,548	132,268	132,795	133,301	175,347

Nonfarm Liabilities
Accrued interest	75	124	76	40	45	91
Accounts payable	1,742	924	1,125	1,490	1,823	3,347
Current notes	953	1,514	973	757	706	818
Princ due on term debt	2,258	2,405	2,417	2,340	2,116	2,011
Total current liabilities	5,029	4,968	4,590	4,627	4,690	6,268
Intermediate liabilities	4,123	5,066	4,389	3,562	3,713	3,889
Long term liabilities	16,394	19,137	16,691	13,042	15,321	17,784
Total nonfarm liabilities	25,546	29,172	25,670	21,232	23,724	27,940

Nonfarm net worth	115,311	101,377	106,599	111,563	109,577	147,407
Nonfarm debt to asset ratio	18 %	22 %	19 %	16 %	18 %	16 %