FINANCIAL GUIDELINES MEASURES, 1999                                        
                          North Dakota Farm Business Management Education Program                              
                                               State Report                                                   
                                    (Farms sorted by Net Farm Income)                                         

                                              Average Of              Average Of              Average Of           
                                              All Farms                Low 20 %               High 20 %            

 Number of Farms                                    467                      93                      93

 LIQUIDITY                              Beginning      Ending   Beginning      Ending   Beginning      Ending
   Current ratio                             1.31        1.53        1.09        0.95        1.49        1.97
   Working capital                          30680       51278        6740       -4455       81598      150851

 SOLVENCY (Cost)                        Beginning      Ending   Beginning      Ending   Beginning      Ending
   Farm debt to asset ratio                  52 %        50 %        63 %        68 %        43 %        39 %
   Farm equity to asset ratio                48 %        50 %        37 %        32 %        57 %        61 %
   Farm debt to equity ratio                110 %       100 %       173 %       212 %        77 %        63 %

 PROFITABILITY (Cost)
   Rate of return on farm assets                  8.8 %                  -2.1 %                  14.6 %
   Rate of return on farm equity                 10.6 %                 -19.8 %                  19.7 %
   Operating profit margin                       22.6 %                  -7.2 %                  31.6 %
   Net farm income                                51181                   -7970                  137107

 REPAYMENT CAPACITY                          Cash     Accrual        Cash     Accrual        Cash     Accrual
   Term debt coverage ratio                 132 %       177 %        51 %        47 %       213 %       328 %
   Capital replacement margin               11132       26800      -14407      -15634       48797       98555

 EFFICIENCY
   Asset turnover rate (cost)                    39.0 %                  29.8 %                  46.1 %
   Operating expense ratio                       62.9 %                  81.2 %                  57.8 %
   Depreciation expense ratio                     6.3 %                  10.9 %                   5.4 %
   Interest expense ratio                         8.7 %                  13.8 %                   6.1 %
   Net farm income ratio                         22.1 %                  -6.0 %                  30.7 %