TABLE 5
BALANCE SHEET AT COST VALUES, 2000
North Dakota Farm Business Management Education Program
State Report
(Farms Sorted By Net Farm Income)
Avg. Of
All Farms Low 20% High 20%
Number of farms 458 95 85
Beginning Ending Beginning Ending Beginning Ending
ASSETS
Current Farm Assets
Cash and checking balance 8,963 7,171 7,013 6,312 9,545 5,360
Prepaid expenses & supplies 8,030 9,104 4,191 3,666 19,446 23,359
Growing crops 268 747 212 271 274 1,771
Accounts receivable 20,581 24,543 17,674 15,973 40,212 48,707
Hedging accounts 142 268 25 144 420 711
Crops held for sale or feed 64,993 75,877 47,170 44,672 117,380 153,341
Crops under government loan 698 434 1,153 1,548 1,394 78
Market livestock held for sale 33,082 37,164 22,462 25,260 53,734 61,976
Other current assets 278 341 134 138 275 309
Total current farm assets 137,035 155,649 100,035 97,984 242,681 295,611
Intermediate Farm Assets
Breeding livestock 52,499 56,903 40,154 40,969 66,194 73,787
Machinery and equipment 136,142 149,005 119,318 119,834 213,478 246,339
Other intermediate assets 8,434 8,896 6,026 6,243 17,510 18,071
Total intermediate farm assets 197,074 214,805 165,497 167,046 297,183 338,197
Long Term Farm Assets
Farm land 181,187 193,579 145,562 152,867 263,688 290,524
Buildings and improvements 22,792 24,405 24,424 26,473 36,199 39,574
Other long-term assets 5,000 5,194 2,036 2,081 11,255 11,676
Total long-term farm assets 208,978 223,178 172,021 181,421 311,143 341,774
Total Farm Assets 543,087 593,632 437,554 446,450 851,007 975,582
Total Nonfarm Assets 80,383 85,259 63,755 68,881 115,087 120,394
Total Assets 623,470 678,891 501,309 515,331 966,094 1,095,976
LIABILITIES
Current Farm Liabilities
Accrued interest 10,013 11,002 13,843 16,487 10,509 9,226
Accounts payable 5,800 6,302 5,919 8,083 7,482 6,637
Current notes 55,113 60,200 52,782 62,289 85,788 88,855
Government crop loans 492 152 582 483 1,204 0
Principal due on term debt 22,301 24,378 19,599 20,058 28,257 37,045
Total current farm liabilities 93,719 102,034 92,725 107,399 133,239 141,762
Total intermediate farm liabs 82,636 88,628 99,130 98,713 95,732 107,279
Total long term farm liabilities 102,484 108,976 109,766 114,665 118,708 128,443
Total farm liabilities 278,839 299,638 301,620 320,777 347,679 377,484
Total nonfarm liabilities 14,109 15,397 14,258 15,550 16,818 17,705
Total liabilities 292,947 315,035 315,879 336,327 364,497 395,190
NET WORTH (farm and nonfarm) 330,523 363,857 185,431 179,004 601,597 700,786
Net worth change 33,334 -6,427 99,189
RATIO ANALYSIS
Current farm liabilities / assets 68 % 66 % 93 % 110 % 55 % 48 %
Curr. & interm farm liab. / assets 53 % 51 % 72 % 78 % 42 % 39 %
Long term farm liab. / assets 49 % 49 % 64 % 63 % 38 % 38 %
Total debt to asset ratio 47 % 46 % 63 % 65 % 38 % 36 %