BALANCE SHEET AT COST VALUES, 1999
North Dakota Farm Business Management Education Program
(Farms sorted by Net Farm Income)
Average Of Average Of Average Of
All Farms Low 20 % High 20 %
Number of Farms 450 91 83
Beginning Ending Beginning Ending Beginning Ending
ASSETS
Current Farm Assets
Cash and checking balance 6708 9711 5825 5908 9346 23378
Prepaid expenses & supplies 6483 8197 2649 3105 19556 22003
Growing crops 82 200 125 276 85 260
Accounts receivable 7118 19520 8351 10568 12963 54692
Hedging accounts 162 182 22 37 351 489
Crops held for sale or feed 73663 70315 37211 35222 153681 149510
Crops under government loan 1846 509 1766 177 1398 82
Market livestock held for sale 29510 35278 19936 23072 42794 52392
Other current assets 243 275 240 122 238 286
Total current farm assets 125815 144188 76125 78488 240413 303092
Intermediate Farm Assets
Breeding livestock 53275 55691 45004 45474 56539 60746
Machinery and equipment 131543 137839 93905 98885 239433 253785
Other intermediate assets 6476 8094 2658 3607 19072 22397
Total intermediate farm assets 191295 201624 141566 147967 315043 336928
Long-Term Farm Assets
Farm land 180731 187560 128716 133102 265807 277536
Buildings and improvements 22225 23608 16172 18070 37392 39255
Other long-term assets 5146 5632 2758 1923 9046 10672
Total long-term farm assets 208102 216800 147646 153095 312245 327462
Total Farm Assets 525212 562612 365338 379550 867701 967483
Total Nonfarm Assets 75208 83624 64862 70497 111094 126027
Total Assets 600420 646236 430200 450047 978796 1093510
LIABILITIES
Current Farm Liabilities
Accrued interest 9972 10632 10604 14073 11583 10297
Accounts payable 7256 6546 7571 6746 12077 10837
Current notes 58614 55742 36886 45996 107007 97175
Government crop loans 591 370 766 81 - -
Principal due on term debt 19815 20923 14849 16021 27239 30485
Total current farm liabilities 96254 94218 70678 82919 157906 148799
Intermediate Farm Liabilities 77131 82432 77316 86309 89738 95038
Long-term Farm Liabilities 103902 107063 94593 98963 121502 122254
Total Farm Liabilities 277287 283713 242588 268191 369146 366091
Total Nonfarm Liabilities 12320 13494 8590 8381 9748 16086
Total Liabilities 289607 297207 251178 276572 378894 382177
Net Worth (farm and nonfarm) 310813 349029 179022 173475 599901 711333
Net Worth Change 38216 -5547 111431
RATIO ANALYSIS
Current Farm Liabilities / Assets 77 % 65 % 93 % 106 % 66 % 49 %
Curr. & Interm Farm Liab / Assets 55 % 51 % 68 % 75 % 45 % 38 %
Long Term Farm Liab. / Assets 50 % 49 % 64 % 65 % 39 % 37 %
Total Liabilities / Assets 48 % 46 % 58 % 61 % 39 % 35 %