Northwest KFMA
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                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, NW     
INCOME AND EXPENSE ANALYSIS   
 **BY NET INCOME                                         HIGH 25%                                HIGH MIDDLE
                                                         45 FARMS                                  45 FARMS 
      
      ITEM                                               PER FARM                                  PER FARM 
      
   1  BEEF                                                148,355                                    46,904 
   2  DAIRY AND MILK                                                                                     18-
   3  SHEEP                                                 5,144 
   4  SWINE                                                   130-                                        5 
   5  POULTRY AND EGGS                                         14                                         8 
   6  OTHER LIVESTOCK                                         135                                         4 
   7  CUSTOM FEEDING                                        4,882                                     1,733 
   8  FEED PURCHASED                                       39,908-                                    6,959-
   9     LIVESTOCK INCOME                                $118,492                                   $41,676 
      
  10  CORN                                                173,554                                    50,008 
  11  GRAIN SORGHUM                                         9,893                                    11,267 
  12  SOYBEANS                                              9,417                                     5,911 
  13  SUNFLOWERS                                           10,964                                     4,851 
  14  WHEAT                                                22,330                                    16,355 
  15  HAY AND FORAGE                                        2,849                                     7,999 
  16  OTHER CROP                                            8,329                                       808 
  17  GOVERNMENT PAYMENTS                                  60,369                                    30,007 
  18  CROP INSURANCE PROCEEDS                              93,437                                    60,133 
  19  OTHER INCOME                                         28,274                                    20,985 
  20     VALUE OF FARM PRODUCTION                        $537,907                                  $250,000 
      
  21  HIRED LABOR                                          22,276                                     7,354 
  22  MACHINERY REPAIRS                                    30,487                                    19,431 
  23  IRRIGATION REPAIRS                                    5,021                                     1,421 
  24  BUILDING REPAIRS                                      1,256                                       721 
  25  INTEREST PAID                                        30,153                                    12,503 
  26  SEED-OTHER CROP EXPENSE                              35,389                                    14,661 
  27  CROP INSURANCE                                       17,043                                    10,388 
  28  FERTILIZER-LIME                                      33,732                                    18,691 
  29  MACHINE HIRE                                         23,382                                     9,160 
  30  ORGANIZATION FEE, PUBLICATION                         4,162                                     2,879 
  31  VET-MED-DRUGS                                         3,409                                     1,372 
  32  CROP STORAGE-MARKETING                                1,732                                       801 
  33  LIVESTOCK MARKETING-BREEDING                          2,932                                     1,100 
  34  DAIRY EXPENSE     
  35  GAS-FUEL-OIL                                         22,176                                    15,187 
  36  IRRIGATION ENERGY                                    37,233                                    15,678 
  37  REAL ESTATE TAXES                                     4,495                                     3,587 
  38  PERSONAL PROPERTY TAXES                                 349                                       203 
  39  GENERAL FARM INSURANCE                                7,474                                     4,381 
  40  UTILITIES                                             5,676                                     2,544 
  41  CASH FARM RENT                                       31,191                                    13,559 
  42  HERBICIDE-INSECTICIDE                                36,161                                    21,552 
  43  CONSERVATION                                            296                                       260 
  44  AUTO EXPENSE                                          1,315                                     1,380 
  45     TOTAL OPERATING EXPENSE                         $357,340                                  $178,811 
      
  46  DEPRECIATION-MACHINERY                               32,815                                    20,721 
  47  DEPRECIATION-BUILDINGS                                2,564                                     1,216 
  48     TOTAL FARM EXPENSE                              $392,720                                  $200,748 
      
  49     NET FARM INCOME                                 $145,188                                   $49,252 
      
  50  UNPAID FAMILY LABOR                                   2,000                                     2,450 
  51  UNPAID OPERATOR LABOR                                23,820                                    22,800 
  52  MANAGEMENT CHARGE                                    30,313                                    12,429 
  53  CURRENT ASSET CHARGE - 8%                            19,100                                    11,371 
  54  NONCURRENT ASSET CHARGE - 8%                         33,643                                    27,845 
  55  RETURN LABOR-MANAGEMENT                              90,445                                     7,585 
  56  RETURN TO CAPITAL                                   119,207                                    24,076 
  57  ASSET TURNOVER RATIO                                  .4352                                     .3459 
  58  OPERATING PROFIT MARGIN RATIO                         .2216                                     .0963 
  59  % RETURN ON ASSETS                                    .0964                                     .0333 
  60  % RETURN ON EQUITY                                    .1351                                     .0236 
  61  TOTAL EXPENSE RATIO                                   .7301                                     .8030 
  62  ADJUSTED TOTAL EXPENSE RATIO                          .8344                                     .9537 
  63  ECONOMIC TOTAL EXPENSE RATIO                          .9325                                    1.1106 
      
 ASSETS/LOANS/FINANCIAL RATIOS                 JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31
      
  64  CURRENT ASSETS                            430,110               541,076             202,399               203,255 
  65  NONCURRENT ASSETS                         740,768               760,303             504,942               534,907 
  66  CURRENT LIABILITIES                       237,643               256,039              57,850                63,519 
  67  NONCURRENT LIABILITIES                    329,583               330,421             172,456               171,270 
  68  CURRENT RATIO                                1.81                  2.11                3.50                  3.20 
  69  DEBT TO ASSET RATIO                           .48                   .45                 .33                   .32 
%%ISCC CHANGE_OVERLAY   SUMMB2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, NW     
ANALYSIS OF THE FARM BUSINESS 
 **BY NET INCOME                                         HIGH 25%                                HIGH MIDDLE
      
 AVERAGE ASSET & NET WORTH VALUES   
  70  BREEDING LIVESTOCK                                   64,679                                    40,799 
  71  MACHINERY AND EQUIPMENT                             127,214                                    81,749 
  72  MOTOR VEHICLES & LISTED PROPERTY                    128,825                                    88,170 
  73  BUILDINGS                                            24,263                                    11,237 
  74  OWNED LAND                                          445,712                                   331,523 
  75  TOTAL ASSETS                                      1,236,129                                   722,752 
  76  NET WORTH                                           659,286                                   490,204 
      
 LABOR
  77  NUMBER OF OPERATORS                                     .88                                       .84 
  78  NUMBER OF WORKERS                                      1.56                                      1.16 
  79  TOTAL WORK DAYS                                         483                                       282 
  80  VALUE FARM PRODUCTION/WORKER                        343,833                                   215,105 
  81  NET FARM INCOME/WORKER                               92,805                                    42,377 
      
 PER OPERATOR BASIS     
  82  TOTAL ASSETS                                      1,401,154                                   855,890 
  83  VALUE OF FARM PRODUCTION                            609,719                                   296,052 
  84  NET FARM INCOME                                     164,571                                    58,324 
      
 OTHER FACTORS    
  85  % CROP ACRES IRRIGATED                                28.52                                     14.76 
  86  % TILLABLE LAND                                       68.41                                     76.18 
  87  CROP MACH COST/TOT EXPENSE(%)                         26.82                                     30.42 
      
 ACRES                                     TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT   
  88  TOTAL ACRES                           3355    45    961    39   2522    45       2591    45    852    39   1895    44   
  89  NON-IRRIGATED CROP ACRES              1905    44    578    39   1459    42       1683    45    502    36   1373    42   
  90  IRRIGATED CROP ACRES                   866    34    334    25    727    29        570    23    219    13    513    20   
  91  TOTAL CROP ACRES                      2347    44    792    39   1683    43       1974    45    565    37   1579    43   
  92  PASTURE ACRES                         1747    27    390    16   2046    20        917    30    434    28    615    25   
  93  FARMSTEAD ACRES                         39    13     32    10                      25    10     18    10    
      
 CROP VALUE, COSTS, ACRES                     TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE
  94  ACRES                                                 2295          2184                        1974          1507
  95  CROP MACHINERY INVESTMENT               233,161        101.59        106.77        157,340         79.70        104.39  
  96  CROP MACHINERY COST                     105,329         45.89         48.23         61,066         30.93         40.51  
  97  GROSS CROP VALUE                        407,402        173.57        182.41        196,903         99.74        130.63  
  98  CROP PRODUCTION COSTS                   305,358        133.05        139.82        162,470         82.30        107.79  
      
 NON-IRRIGATED ACRES                              AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
  99  CORN                                  29    677    243    40.2   538    40.4     18    531    127    27.7   569    47.6 
 100  GRAIN SORGHUM                         18    577    203    30.1   455    33.4     30    374    215    40.9   278    35.7 
 101  SOYBEANS                                                                          5    220                  233    18.9 
 102  SUNFLOWERS                             4    315                  315    13.2      4    256                  254     6.5 
 103  WHEAT                                 40    791    265     4.8   609     7.7     44    635    207    11.3   508    10.0 
 104  OTHER CROPS                            6     85                   68    
 105  ALFALFA                                5    105                   79     2.5      9     61     41     3.0    57     3.3 
 106  OTHER HAY & FORAGE                    14    143    109           123             14    176    126           121   
 107  VEGETABLES  
 108  TRUCK CROPS 
 109  FRUIT - FLOWERS - TREES 
      
 IRRIGATED ACRES                                  AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
 110  CORN                                  25    686    224   203.8   596   202.2     13    381    237   186.5   314   182.6 
 111  GRAIN SORGHUM                                                                     5    112                  125    78.9 
 112  SOYBEANS                              13    182    117    40.4   204    50.3      7    199                  212    40.8 
 113  SUNFLOWERS                             9    179    140    19.4    97    17.2      6    174                  145    12.5 
 114  WHEAT                                 20    293    150    22.0   260    27.6     16    193                  175    24.2 
 115  OTHER CROPS                            5    162                  126    
 116  ALFALFA                                7     75     59     5.2    46     5.4      5    209     75     4.4   
 117  OTHER HAY & FORAGE                    13    173    123           173              9    156     82           154   
 118  VEGETABLES  
 119  TRUCK CROPS 
 120  FRUIT - FLOWERS - TREES 
      
 AVERAGE LIVESTOCK INVENTORIES AND SALES  
 121  BEEF COWS                                                12 
 122  DAIRY COWS  
 123  EWES  
 124  SOWS  
 125  BEEF PURCHASED FOR RESALE SALES                         200                                        20 
 126  SWINE PURCHASED FOR RESALE SALES    
 127  TURKEYS     
      
%%ISCC CHANGE_OVERLAY   SUMMF2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, NW     
INCOME AND EXPENSE ANALYSIS   
 **BY NET INCOME                                        LOW MIDDLE                                 LOW 25%  
                                                         45 FARMS                                  46 FARMS 
      
      ITEM                                               PER FARM                                  PER FARM 
      
   1  BEEF                                                 20,002                                    41,051 
   2  DAIRY AND MILK                                                                                     11-
   3  SHEEP                                                     4                                       135 
   4  SWINE                                                    29                                        49 
   5  POULTRY AND EGGS                                      5,426                                         1 
   6  OTHER LIVESTOCK                                       1,881-                                      118 
   7  CUSTOM FEEDING                                          493                                       647 
   8  FEED PURCHASED                                        6,710-                                   17,892-
   9     LIVESTOCK INCOME                                 $17,363                                   $24,098 
      
  10  CORN                                                 22,151                                    57,517 
  11  GRAIN SORGHUM                                         8,806                                     5,743 
  12  SOYBEANS                                              5,398                                    15,990 
  13  SUNFLOWERS                                            3,981                                     2,068 
  14  WHEAT                                                14,802                                    22,101 
  15  HAY AND FORAGE                                        1,318                                     1,654 
  16  OTHER CROP                                            1,322                                     1,995 
  17  GOVERNMENT PAYMENTS                                  19,793                                    33,730 
  18  CROP INSURANCE PROCEEDS                              37,739                                    49,548 
  19  OTHER INCOME                                         10,173                                    15,743 
  20     VALUE OF FARM PRODUCTION                        $142,846                                  $230,188 
      
  21  HIRED LABOR                                           4,315                                    14,638 
  22  MACHINERY REPAIRS                                    11,362                                    22,414 
  23  IRRIGATION REPAIRS                                      809                                     3,100 
  24  BUILDING REPAIRS                                      1,021                                     1,161 
  25  INTEREST PAID                                         8,939                                    19,863 
  26  SEED-OTHER CROP EXPENSE                               6,828                                    19,899 
  27  CROP INSURANCE                                        6,790                                    10,883 
  28  FERTILIZER-LIME                                      13,448                                    26,147 
  29  MACHINE HIRE                                          6,928                                    16,279 
  30  ORGANIZATION FEE, PUBLICATION                         1,853                                     3,279 
  31  VET-MED-DRUGS                                           775                                     1,163 
  32  CROP STORAGE-MARKETING                                  714                                     1,802 
  33  LIVESTOCK MARKETING-BREEDING                            482                                       929 
  34  DAIRY EXPENSE     
  35  GAS-FUEL-OIL                                          8,536                                    14,327 
  36  IRRIGATION ENERGY                                     7,706                                    19,420 
  37  REAL ESTATE TAXES                                     3,740                                     5,318 
  38  PERSONAL PROPERTY TAXES                                 215                                       329 
  39  GENERAL FARM INSURANCE                                3,376                                     5,621 
  40  UTILITIES                                             2,042                                     3,078 
  41  CASH FARM RENT                                        9,272                                    20,071 
  42  HERBICIDE-INSECTICIDE                                 8,901                                    24,863 
  43  CONSERVATION                                             64                                        73 
  44  AUTO EXPENSE                                          1,345                                     1,655 
  45     TOTAL OPERATING EXPENSE                         $109,460                                  $236,314 
      
  46  DEPRECIATION-MACHINERY                               12,795                                    21,199 
  47  DEPRECIATION-BUILDINGS                                1,133                                     1,705 
  48     TOTAL FARM EXPENSE                              $123,388                                  $259,218 
      
  49     NET FARM INCOME                                  $19,458                                   $29,030-
      
  50  UNPAID FAMILY LABOR                                   1,750                                     2,054 
  51  UNPAID OPERATOR LABOR                                16,020                                    19,135 
  52  MANAGEMENT CHARGE                                     6,138                                        84 
  53  CURRENT ASSET CHARGE - 8%                             6,549                                     9,995 
  54  NONCURRENT ASSET CHARGE - 8%                         27,923                                    40,236 
  55  RETURN LABOR-MANAGEMENT                              16,764-                                   81,315-
  56  RETURN TO CAPITAL                                     4,489                                    30,440-
  57  ASSET TURNOVER RATIO                                  .2441                                     .2334 
  58  OPERATING PROFIT MARGIN RATIO                         .0314                                     .1322-
  59  % RETURN ON ASSETS                                    .0077                                     .0309-
  60  % RETURN ON EQUITY                                    .0103-                                    .0801-
  61  TOTAL EXPENSE RATIO                                   .8638                                    1.1261 
  62  ADJUSTED TOTAL EXPENSE RATIO                         1.0312                                    1.2185 
  63  ECONOMIC TOTAL EXPENSE RATIO                         1.2725                                    1.4367 
      
 ASSETS/LOANS/FINANCIAL RATIOS                 JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31
      
  64  CURRENT ASSETS                            137,953               130,550             242,299               212,538 
  65  NONCURRENT ASSETS                         445,006               457,080             732,508               785,415 
  66  CURRENT LIABILITIES                        55,472                49,296              93,047               111,918 
  67  NONCURRENT LIABILITIES                     97,462               106,550             227,638               284,392 
  68  CURRENT RATIO                                2.49                  2.65                2.60                  1.90 
  69  DEBT TO ASSET RATIO                           .26                   .27                 .33                   .40 
%%ISCC CHANGE_OVERLAY   SUMMB2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, NW     
ANALYSIS OF THE FARM BUSINESS 
 **BY NET INCOME                                        LOW MIDDLE                                 LOW 25%  
      
 AVERAGE ASSET & NET WORTH VALUES   
  70  BREEDING LIVESTOCK                                   21,147                                    37,906 
  71  MACHINERY AND EQUIPMENT                              49,835                                    80,503 
  72  MOTOR VEHICLES & LISTED PROPERTY                     62,005                                    87,211 
  73  BUILDINGS                                            11,083                                    14,965 
  74  OWNED LAND                                          317,822                                   535,960 
  75  TOTAL ASSETS                                        585,295                                   986,380 
  76  NET WORTH                                           430,905                                   627,883 
      
 LABOR
  77  NUMBER OF OPERATORS                                     .59                                       .70 
  78  NUMBER OF WORKERS                                       .78                                      1.15 
  79  TOTAL WORK DAYS                                         178                                       258 
  80  VALUE FARM PRODUCTION/WORKER                        181,584                                   198,662 
  81  NET FARM INCOME/WORKER                               24,735                                    25,054-
      
 PER OPERATOR BASIS     
  82  TOTAL ASSETS                                        986,452                                 1,391,825 
  83  VALUE OF FARM PRODUCTION                            240,752                                   324,806 
  84  NET FARM INCOME                                      32,794                                    40,962-
      
 OTHER FACTORS    
  85  % CROP ACRES IRRIGATED                                11.86                                     18.92 
  86  % TILLABLE LAND                                       72.70                                     68.10 
  87  CROP MACH COST/TOT EXPENSE(%)                         34.54                                     29.42 
      
 ACRES                                     TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT   
  88  TOTAL ACRES                           1938    45    846    38   1342    41       2521    46   1308    38   1616    41   
  89  NON-IRRIGATED CROP ACRES              1241    45    503    38    967    38       1489    43    725    35   1104    35   
  90  IRRIGATED CROP ACRES                   376    20    256    10    310    16        553    27    355    19    455    18   
  91  TOTAL CROP ACRES                      1409    45    570    38   1098    38       1836    43    918    35   1338    35   
  92  PASTURE ACRES                          911    26    546    19    739    18       1308    28    666    26   1207    16   
  93  FARMSTEAD ACRES                         12    10     12     9                      28    13     26    11    
      
 CROP VALUE, COSTS, ACRES                     TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE
  94  ACRES                                                 1409           953                        1717          1329
  95  CROP MACHINERY INVESTMENT               107,222         76.12        112.50        153,255         89.28        115.36  
  96  CROP MACHINERY COST                      42,622         30.26         44.72         76,250         44.42         57.39  
  97  GROSS CROP VALUE                        108,859         77.28        114.21        197,512        112.56        145.44  
  98  CROP PRODUCTION COSTS                   102,811         72.99        107.87        219,247        124.95        161.44  
      
 NON-IRRIGATED ACRES                              AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
  99  CORN                                  11    299    153    33.1   273    26.3     18    483    283    46.0   399    44.4 
 100  GRAIN SORGHUM                         29    252    131    33.6   230    27.1     22    243    143    28.9   193    28.1 
 101  SOYBEANS                               4     73                                   6    171     87     9.1   170     4.4 
 102  SUNFLOWERS                                                                        4    145    128     6.8   
 103  WHEAT                                 43    507    213    11.2   441    12.4     40    714    385    10.1   503    11.8 
 104  OTHER CROPS 
 105  ALFALFA                                6     25                                   5     48     40     2.5    19     1.8 
 106  OTHER HAY & FORAGE                    12    131     62           126             12     84     69            79   
 107  VEGETABLES  
 108  TRUCK CROPS 
 109  FRUIT - FLOWERS - TREES 
      
 IRRIGATED ACRES                                  AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
 110  CORN                                  11    261    170   169.4   232   195.4     19    368    250   183.2   307   191.8 
 111  GRAIN SORGHUM                          6     77                   66    75.8      5    107                   71    76.0 
 112  SOYBEANS                               9    176    125    35.2   138    42.9     20    151    122    40.5   129    43.9 
 113  SUNFLOWERS                             5    145                   93    17.0      4    125
 114  WHEAT                                  9    167     96    24.1   205    27.4     17    184    153    36.3   142    35.4 
 115  OTHER CROPS                                                                       5    109                  114   
 116  ALFALFA     
 117  OTHER HAY & FORAGE                                                                5    126     53     
 118  VEGETABLES  
 119  TRUCK CROPS 
 120  FRUIT - FLOWERS - TREES 
      
 AVERAGE LIVESTOCK INVENTORIES AND SALES  
 121  BEEF COWS   
 122  DAIRY COWS  
 123  EWES  
 124  SOWS  
 125  BEEF PURCHASED FOR RESALE SALES                           9                                        40 
 126  SWINE PURCHASED FOR RESALE SALES    
 127  TURKEYS     
      
%%ISCC CHANGE_OVERLAY   SUMMF2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, NW     
INCOME AND EXPENSE ANALYSIS   
 **BY NET INCOME                                         AVERAGE                                   MY FARM  
                                                        181 FARMS 
      
      ITEM                                               PER FARM                                  PER FARM 
      
   1  BEEF                                                 63,951 
   2  DAIRY AND MILK                                            7-
   3  SHEEP                                                 1,314 
   4  SWINE                                                    12-
   5  POULTRY AND EGGS                                      1,355 
   6  OTHER LIVESTOCK                                         403-
   7  CUSTOM FEEDING                                        1,932 
   8  FEED PURCHASED                                       17,867-
   9     LIVESTOCK INCOME                                 $50,262 
      
  10  CORN                                                 75,706 
  11  GRAIN SORGHUM                                         8,910 
  12  SOYBEANS                                              9,217 
  13  SUNFLOWERS                                            5,447 
  14  WHEAT                                                18,915 
  15  HAY AND FORAGE                                        3,445 
  16  OTHER CROP                                            3,107 
  17  GOVERNMENT PAYMENTS                                  35,962 
  18  CROP INSURANCE PROCEEDS                              60,156 
  19  OTHER INCOME                                         18,777 
  20     VALUE OF FARM PRODUCTION                        $289,904 
      
  21  HIRED LABOR                                          12,159 
  22  MACHINERY REPAIRS                                    20,932 
  23  IRRIGATION REPAIRS                                    2,591 
  24  BUILDING REPAIRS                                      1,040 
  25  INTEREST PAID                                        17,876 
  26  SEED-OTHER CROP EXPENSE                              19,198 
  27  CROP INSURANCE                                       11,274 
  28  FERTILIZER-LIME                                      23,022 
  29  MACHINE HIRE                                         13,950 
  30  ORGANIZATION FEE, PUBLICATION                         3,044 
  31  VET-MED-DRUGS                                         1,677 
  32  CROP STORAGE-MARKETING                                1,265 
  33  LIVESTOCK MARKETING-BREEDING                          1,358 
  34  DAIRY EXPENSE     
  35  GAS-FUEL-OIL                                         15,053 
  36  IRRIGATION ENERGY                                    20,006 
  37  REAL ESTATE TAXES                                     4,291 
  38  PERSONAL PROPERTY TAXES                                 274 
  39  GENERAL FARM INSURANCE                                5,215 
  40  UTILITIES                                             3,333 
  41  CASH FARM RENT                                       18,532 
  42  HERBICIDE-INSECTICIDE                                22,880 
  43  CONSERVATION                                            173 
  44  AUTO EXPENSE                                          1,425 
  45     TOTAL OPERATING EXPENSE                         $220,569 
      
  46  DEPRECIATION-MACHINERY                               21,879 
  47  DEPRECIATION-BUILDINGS                                1,655 
  48     TOTAL FARM EXPENSE                              $244,102 
      
  49     NET FARM INCOME                                  $45,801 
      
  50  UNPAID FAMILY LABOR                                   2,064 
  51  UNPAID OPERATOR LABOR                                20,436 
  52  MANAGEMENT CHARGE                                    12,174 
  53  CURRENT ASSET CHARGE - 8%                            11,744 
  54  NONCURRENT ASSET CHARGE - 8%                         32,455 
  55  RETURN LABOR-MANAGEMENT                                 461-
  56  RETURN TO CAPITAL                                    29,003 
  57  ASSET TURNOVER RATIO                                  .3282 
  58  OPERATING PROFIT MARGIN RATIO                         .1000 
  59  % RETURN ON ASSETS                                    .0328 
  60  % RETURN ON EQUITY                                    .0201 
  61  TOTAL EXPENSE RATIO                                   .8420 
  62  ADJUSTED TOTAL EXPENSE RATIO                          .9616 
  63  ECONOMIC TOTAL EXPENSE RATIO                         1.1141 
      
 ASSETS/LOANS/FINANCIAL RATIOS                 JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31
      
  64  CURRENT ASSETS                            253,130               271,527 
  65  NONCURRENT ASSETS                         606,506               635,260 
  66  CURRENT LIABILITIES                       110,904               120,147 
  67  NONCURRENT LIABILITIES                    206,900               223,497 
  68  CURRENT RATIO                                2.28                  2.26 
  69  DEBT TO ASSET RATIO                           .37                   .38 
%%ISCC CHANGE_OVERLAY   SUMMB2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, NW     
ANALYSIS OF THE FARM BUSINESS 
 **BY NET INCOME                                         AVERAGE                                   MY FARM  
      
 AVERAGE ASSET & NET WORTH VALUES   
  70  BREEDING LIVESTOCK                                   41,115 
  71  MACHINERY AND EQUIPMENT                              84,801 
  72  MOTOR VEHICLES & LISTED PROPERTY                     91,529 
  73  BUILDINGS                                            15,385 
  74  OWNED LAND                                          408,462 
  75  TOTAL ASSETS                                        883,212 
  76  NET WORTH                                           552,488 
      
 LABOR
  77  NUMBER OF OPERATORS                                     .75 
  78  NUMBER OF WORKERS                                      1.16 
  79  TOTAL WORK DAYS                                         300 
  80  VALUE FARM PRODUCTION/WORKER                        248,215 
  81  NET FARM INCOME/WORKER                               39,215 
      
 PER OPERATOR BASIS     
  82  TOTAL ASSETS                                      1,166,871 
  83  VALUE OF FARM PRODUCTION                            383,011 
  84  NET FARM INCOME                                      60,511 
      
 OTHER FACTORS    
  85  % CROP ACRES IRRIGATED                                19.44 
  86  % TILLABLE LAND                                       71.05 
  87  CROP MACH COST/TOT EXPENSE(%)                         29.23 
      
 ACRES                                     TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT   
  88  TOTAL ACRES                           2601   181    991   154   1860   171    
  89  NON-IRRIGATED CROP ACRES              1579   177    575   148   1238   157    
  90  IRRIGATED CROP ACRES                   625   104    306    67    536    83    
  91  TOTAL CROP ACRES                      1890   177    709   149   1439   159    
  92  PASTURE ACRES                         1216   111    518    89   1125    79    
  93  FARMSTEAD ACRES                         27    46     22    40     39     9    
      
 CROP VALUE, COSTS, ACRES                     TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE
  94  ACRES                                                 1848          1492
  95  CROP MACHINERY INVESTMENT               162,692         88.04        109.02   
  96  CROP MACHINERY COST                      71,344         38.61         47.81   
  97  GROSS CROP VALUE                        226,665        121.31        150.21   
  98  CROP PRODUCTION COSTS                   197,472        106.27        131.60   
      
 NON-IRRIGATED ACRES                              AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
  99  CORN                                  76    542    217    38.2   485    41.4  
 100  GRAIN SORGHUM                         99    346    176    33.8   281    31.3  
 101  SOYBEANS                              18    208    116     5.9   208    11.2  
 102  SUNFLOWERS                            15    232    104     7.2   246    10.1  
 103  WHEAT                                167    658    266     9.3   517    10.4  
 104  OTHER CROPS                           11     86     81            76    
 105  ALFALFA                               25     59     44     2.6    47     2.5  
 106  OTHER HAY & FORAGE                    52    135     92           119    
 107  VEGETABLES  
 108  TRUCK CROPS 
 109  FRUIT - FLOWERS - TREES 
      
 IRRIGATED ACRES                                  AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
 110  CORN                                  68    470    225   190.6   413   194.5  
 111  GRAIN SORGHUM                         18    111     93    74.4   102    81.5  
 112  SOYBEANS                              49    171    121    39.8   162    44.5  
 113  SUNFLOWERS                            24    162    130    17.5   116    16.5  
 114  WHEAT                                 62    219    138    29.6   200    27.9  
 115  OTHER CROPS                           14    132     81           124    
 116  ALFALFA                               17    104     64     4.7    91     4.9  
 117  OTHER HAY & FORAGE                    30    158     89           157    
 118  VEGETABLES  
 119  TRUCK CROPS 
 120  FRUIT - FLOWERS - TREES 
      
 AVERAGE LIVESTOCK INVENTORIES AND SALES  
 121  BEEF COWS                                                 3 
 122  DAIRY COWS  
 123  EWES  
 124  SOWS  
 125  BEEF PURCHASED FOR RESALE SALES                          67 
 126  SWINE PURCHASED FOR RESALE SALES    
 127  TURKEYS     
      
%%ISCC CHANGE_OVERLAY   SUMMF2003