Southwest KFMA
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                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, SW     
INCOME AND EXPENSE ANALYSIS   
 **BY NET INCOME                                         HIGH 25%                                HIGH MIDDLE
                                                         50 FARMS                                  50 FARMS 
      
      ITEM                                               PER FARM                                  PER FARM 
      
   1  BEEF                                                 72,242                                    37,302 
   2  DAIRY AND MILK                                        1,131                                     4,820 
   3  SHEEP                                                 1,586                                         3 
   4  SWINE                                                                                               8 
   5  POULTRY AND EGGS  
   6  OTHER LIVESTOCK                                         627                                       969-
   7  CUSTOM FEEDING                                       23,050                                     1,356 
   8  FEED PURCHASED                                       20,980-                                    9,356-
   9     LIVESTOCK INCOME                                 $77,656                                   $33,164 
      
  10  CORN                                                104,797                                    56,832 
  11  GRAIN SORGHUM                                        22,863                                    14,535 
  12  SOYBEANS                                             14,358                                     6,254 
  13  SUNFLOWERS                                            1,000                                     2,038 
  14  WHEAT                                                56,540                                    34,485 
  15  HAY AND FORAGE                                       17,476                                    18,280 
  16  OTHER CROP                                            2,504                                       602 
  17  GOVERNMENT PAYMENTS                                  49,186                                    31,648 
  18  CROP INSURANCE PROCEEDS                              20,361                                    10,163 
  19  OTHER INCOME                                         50,146                                    12,392 
  20     VALUE OF FARM PRODUCTION                        $416,889                                  $220,392 
      
  21  HIRED LABOR                                          20,307                                     8,909 
  22  MACHINERY REPAIRS                                    33,342                                    16,064 
  23  IRRIGATION REPAIRS                                    5,024                                     3,552 
  24  BUILDING REPAIRS                                      1,422                                       783 
  25  INTEREST PAID                                        20,196                                     9,510 
  26  SEED-OTHER CROP EXPENSE                              26,574                                    13,590 
  27  CROP INSURANCE                                        7,972                                     6,385 
  28  FERTILIZER-LIME                                      33,445                                    19,808 
  29  MACHINE HIRE                                         29,578                                    11,968 
  30  ORGANIZATION FEE, PUBLICATION                         3,224                                     2,883 
  31  VET-MED-DRUGS                                         3,738                                     2,157 
  32  CROP STORAGE-MARKETING                                1,126                                       306 
  33  LIVESTOCK MARKETING-BREEDING                          1,094                                     1,683 
  34  DAIRY EXPENSE                                                                                      56 
  35  GAS-FUEL-OIL                                         18,814                                    10,969 
  36  IRRIGATION ENERGY                                    29,016                                    17,747 
  37  REAL ESTATE TAXES                                     4,923                                     3,648 
  38  PERSONAL PROPERTY TAXES                               1,068                                       885 
  39  GENERAL FARM INSURANCE                                6,935                                     3,690 
  40  UTILITIES                                             4,885                                     3,239 
  41  CASH FARM RENT                                        9,661                                     7,818 
  42  HERBICIDE-INSECTICIDE                                22,131                                    17,448 
  43  CONSERVATION                                            264                                        67 
  44  AUTO EXPENSE                                            900                                       831 
  45     TOTAL OPERATING EXPENSE                         $285,639                                  $163,996 
      
  46  DEPRECIATION-MACHINERY                               24,601                                    16,794 
  47  DEPRECIATION-BUILDINGS                                4,872                                     1,741 
  48     TOTAL FARM EXPENSE                              $315,112                                  $182,531 
      
  49     NET FARM INCOME                                 $101,777                                   $37,861 
      
  50  UNPAID FAMILY LABOR                                   1,800                                     1,035 
  51  UNPAID OPERATOR LABOR                                27,270                                    25,218 
  52  MANAGEMENT CHARGE                                    21,932                                    10,087 
  53  CURRENT ASSET CHARGE - 8%                            10,057                                     6,844 
  54  NONCURRENT ASSET CHARGE - 8%                         33,656                                    36,616 
  55  RETURN LABOR-MANAGEMENT                              56,264                                     6,634-
  56  RETURN TO CAPITAL                                    70,971                                    11,030 
  57  ASSET TURNOVER RATIO                                  .4654                                     .3014 
  58  OPERATING PROFIT MARGIN RATIO                         .1702                                     .0500 
  59  % RETURN ON ASSETS                                    .0792                                     .0151 
  60  % RETURN ON EQUITY                                    .0929                                     .0028 
  61  TOTAL EXPENSE RATIO                                   .7559                                     .8282 
  62  ADJUSTED TOTAL EXPENSE RATIO                          .8782                                     .9931 
  63  ECONOMIC TOTAL EXPENSE RATIO                          .9831                                    1.1903 
      
 ASSETS/LOANS/FINANCIAL RATIOS                 JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31
      
  64  CURRENT ASSETS                            241,417               278,679             170,708               178,056 
  65  NONCURRENT ASSETS                         625,392               646,035             543,301               570,543 
  66  CURRENT LIABILITIES                       135,615               133,055              82,939                94,734 
  67  NONCURRENT LIABILITIES                    213,352               216,666              91,997               106,436 
  68  CURRENT RATIO                                1.78                  2.09                2.06                  1.88 
  69  DEBT TO ASSET RATIO                           .40                   .38                 .25                   .27 
%%ISCC CHANGE_OVERLAY   SUMMB2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, SW     
ANALYSIS OF THE FARM BUSINESS 
 **BY NET INCOME                                         HIGH 25%                                HIGH MIDDLE
      
 AVERAGE ASSET & NET WORTH VALUES   
  70  BREEDING LIVESTOCK                                   36,539                                    14,768 
  71  MACHINERY AND EQUIPMENT                             115,763                                    79,802 
  72  MOTOR VEHICLES & LISTED PROPERTY                     89,000                                    74,578 
  73  BUILDINGS                                            46,007                                    21,317 
  74  OWNED LAND                                          360,322                                   346,893 
  75  TOTAL ASSETS                                        895,762                                   731,304 
  76  NET WORTH                                           546,417                                   543,251 
      
 LABOR
  77  NUMBER OF OPERATORS                                    1.01                                       .93 
  78  NUMBER OF WORKERS                                      1.70                                      1.21 
  79  TOTAL WORK DAYS                                         336                                       258 
  80  VALUE FARM PRODUCTION/WORKER                        245,229                                   182,142 
  81  NET FARM INCOME/WORKER                               59,869                                    31,290 
      
 PER OPERATOR BASIS     
  82  TOTAL ASSETS                                        886,893                                   782,981 
  83  VALUE OF FARM PRODUCTION                            412,761                                   235,966 
  84  NET FARM INCOME                                     100,769                                    40,536 
      
 OTHER FACTORS    
  85  % CROP ACRES IRRIGATED                                25.41                                     22.35 
  86  % TILLABLE LAND                                       76.69                                     78.63 
  87  CROP MACH COST/TOT EXPENSE(%)                         24.91                                     34.01 
      
 ACRES                                     TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT   
  88  TOTAL ACRES                           2686    50   1166    36   2006    46       1986    50    929    42   1282    47   
  89  NON-IRRIGATED CROP ACRES              1567    49    636    34   1254    44       1378    44    575    38   1020    38   
  90  IRRIGATED CROP ACRES                   770    34    363    15    691    30        545    32    308    19    505    23   
  91  TOTAL CROP ACRES                      2102    49    796    34   1687    45       1562    50    676    41   1120    45   
  92  PASTURE ACRES                         1283    24    819    18   1003    16        681    30    460    24    495    19   
  93  FARMSTEAD ACRES                         34    15     21     8     28    12         35    22     17    17     37    13   
      
 CROP VALUE, COSTS, ACRES                     TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE
  94  ACRES                                                 2060          1352                        1562           987
  95  CROP MACHINERY INVESTMENT               185,197         89.92        136.97        138,793         88.87        140.58  
  96  CROP MACHINERY COST                      78,486         38.11         58.05         62,086         39.75         62.89  
  97  GROSS CROP VALUE                        334,205        162.27        247.17        211,060        135.14        213.78  
  98  CROP PRODUCTION COSTS                   246,634        114.96        175.11        162,293        103.92        164.38  
      
 NON-IRRIGATED ACRES                              AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
  99  CORN  
 100  GRAIN SORGHUM                         32    343    145    77.4   309    63.0     29    317    142    59.1   288    53.3 
 101  SOYBEANS    
 102  SUNFLOWERS  
 103  WHEAT                                 47    549    199    30.3   472    33.6     37    582    233    27.3   483    25.5 
 104  OTHER CROPS 
 105  ALFALFA                                5    171     73     2.3    
 106  OTHER HAY & FORAGE                    13    232     48           303             12     81     67            63   
 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                                  27    449    185   187.5   481   206.5     20    364    205   208.1   335   214.3 
 111  GRAIN SORGHUM                         13    175     95   128.6   189   101.8     11    146    140   103.5   128   108.9 
 112  SOYBEANS                              14    225     99    54.9   205    53.1      7    159                  159    56.9 
 113  SUNFLOWERS                             4    151                  151    10.5  
 114  WHEAT                                 19    282    216    43.7   239    51.8     19    207    145    34.9   202    52.6 
 115  OTHER CROPS 
 116  ALFALFA                                7    214    186     6.1   189     6.1      8    244    173     6.0   181     4.9 
 117  OTHER HAY & FORAGE                     8    148     80           144              7     91     82     
 118  VEGETABLES  
 119  TRUCK CROPS 
 120  FRUIT - FLOWERS - TREES 
      
 AVERAGE LIVESTOCK INVENTORIES AND SALES  
 121  BEEF COWS                                                19                                        11 
 122  DAIRY COWS                                                                                          3 
 123  EWES  
 124  SOWS  
 125  BEEF PURCHASED FOR RESALE SALES                         182                                       104 
 126  SWINE PURCHASED FOR RESALE SALES    
 127  TURKEYS     
      
%%ISCC CHANGE_OVERLAY   SUMMF2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, SW     
INCOME AND EXPENSE ANALYSIS   
 **BY NET INCOME                                        LOW MIDDLE                                 LOW 25%  
                                                         50 FARMS                                  49 FARMS 
      
      ITEM                                               PER FARM                                  PER FARM 
      
   1  BEEF                                                 28,845                                    17,522 
   2  DAIRY AND MILK    
   3  SHEEP                                                    35                                         8 
   4  SWINE 
   5  POULTRY AND EGGS                                      3,084 
   6  OTHER LIVESTOCK                                       1,783-                                       24 
   7  CUSTOM FEEDING                                                                                    476 
   8  FEED PURCHASED                                        8,920-                                    3,304-
   9     LIVESTOCK INCOME                                 $21,261                                   $14,727 
      
  10  CORN                                                 17,971                                    32,979 
  11  GRAIN SORGHUM                                         8,703                                     8,653 
  12  SOYBEANS                                              3,132                                     5,209 
  13  SUNFLOWERS                                              153 
  14  WHEAT                                                29,495                                    39,088 
  15  HAY AND FORAGE                                        2,832                                    12,159 
  16  OTHER CROP                                            1,811                                     1,794 
  17  GOVERNMENT PAYMENTS                                  23,821                                    28,281 
  18  CROP INSURANCE PROCEEDS                               7,997                                    11,998 
  19  OTHER INCOME                                          7,198                                    14,592 
  20     VALUE OF FARM PRODUCTION                        $124,373                                  $169,481 
      
  21  HIRED LABOR                                           6,033                                    20,397 
  22  MACHINERY REPAIRS                                    12,150                                    21,241 
  23  IRRIGATION REPAIRS                                    1,523                                     3,205 
  24  BUILDING REPAIRS                                      1,047                                     1,968 
  25  INTEREST PAID                                         8,864                                     9,605 
  26  SEED-OTHER CROP EXPENSE                               5,891                                    20,301 
  27  CROP INSURANCE                                        3,629                                     5,147 
  28  FERTILIZER-LIME                                       8,976                                    17,695 
  29  MACHINE HIRE                                         11,764                                    11,026 
  30  ORGANIZATION FEE, PUBLICATION                         1,931                                     2,644 
  31  VET-MED-DRUGS                                         1,169                                       926 
  32  CROP STORAGE-MARKETING                                  428                                     2,225 
  33  LIVESTOCK MARKETING-BREEDING                          1,157                                       712 
  34  DAIRY EXPENSE                                             2 
  35  GAS-FUEL-OIL                                          8,483                                    12,984 
  36  IRRIGATION ENERGY                                     4,603                                    13,248 
  37  REAL ESTATE TAXES                                     3,886                                     4,971 
  38  PERSONAL PROPERTY TAXES                                 620                                     1,247 
  39  GENERAL FARM INSURANCE                                3,592                                     4,428 
  40  UTILITIES                                             3,044                                     3,982 
  41  CASH FARM RENT                                        6,569                                     6,969 
  42  HERBICIDE-INSECTICIDE                                 7,280                                    14,551 
  43  CONSERVATION                                            836                                       155 
  44  AUTO EXPENSE                                            836                                       620 
  45     TOTAL OPERATING EXPENSE                         $104,314                                  $180,249 
      
  46  DEPRECIATION-MACHINERY                               10,297                                    17,193 
  47  DEPRECIATION-BUILDINGS                                  819                                     2,112 
  48     TOTAL FARM EXPENSE                              $115,431                                  $199,554 
      
  49     NET FARM INCOME                                   $8,942                                   $30,074-
      
  50  UNPAID FAMILY LABOR                                   1,350                                       505 
  51  UNPAID OPERATOR LABOR                                22,518                                    22,151 
  52  MANAGEMENT CHARGE                                     4,662                                       658-
  53  CURRENT ASSET CHARGE - 8%                             7,641                                     6,017 
  54  NONCURRENT ASSET CHARGE - 8%                         23,748                                    35,049 
  55  RETURN LABOR-MANAGEMENT                              23,798-                                   71,644-
  56  RETURN TO CAPITAL                                    10,724-                                   42,467-
  57  ASSET TURNOVER RATIO                                  .2258                                     .2409 
  58  OPERATING PROFIT MARGIN RATIO                         .0862-                                    .2506-
  59  % RETURN ON ASSETS                                    .0195-                                    .0604-
  60  % RETURN ON EQUITY                                    .0499-                                    .1014-
  61  TOTAL EXPENSE RATIO                                   .9281                                    1.1774 
  62  ADJUSTED TOTAL EXPENSE RATIO                         1.1575                                    1.3072 
  63  ECONOMIC TOTAL EXPENSE RATIO                         1.4099                                    1.5495 
      
 ASSETS/LOANS/FINANCIAL RATIOS                 JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31
      
  64  CURRENT ASSETS                            148,072               145,197             149,875               136,502 
  65  NONCURRENT ASSETS                         403,396               404,869             565,413               555,107 
  66  CURRENT LIABILITIES                        55,407                46,837              61,231                74,731 
  67  NONCURRENT LIABILITIES                    104,863               109,690             121,297               123,010 
  68  CURRENT RATIO                                2.67                  3.10                2.45                  1.83 
  69  DEBT TO ASSET RATIO                           .29                   .28                 .26                   .29 
%%ISCC CHANGE_OVERLAY   SUMMB2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, SW     
ANALYSIS OF THE FARM BUSINESS 
 **BY NET INCOME                                        LOW MIDDLE                                 LOW 25%  
      
 AVERAGE ASSET & NET WORTH VALUES   
  70  BREEDING LIVESTOCK                                   11,321                                    26,443 
  71  MACHINERY AND EQUIPMENT                              46,539                                    77,434 
  72  MOTOR VEHICLES & LISTED PROPERTY                     52,386                                    81,477 
  73  BUILDINGS                                             9,384                                    22,332 
  74  OWNED LAND                                          278,292                                   351,318 
  75  TOTAL ASSETS                                        550,767                                   703,449 
  76  NET WORTH                                           392,368                                   513,314 
      
 LABOR
  77  NUMBER OF OPERATORS                                     .83                                       .82 
  78  NUMBER OF WORKERS                                      1.08                                      1.28 
  79  TOTAL WORK DAYS                                         173                                       198 
  80  VALUE FARM PRODUCTION/WORKER                        114,735                                   131,818 
  81  NET FARM INCOME/WORKER                                8,249                                    23,391-
      
 PER OPERATOR BASIS     
  82  TOTAL ASSETS                                        660,392                                   857,438 
  83  VALUE OF FARM PRODUCTION                            149,128                                   206,581 
  84  NET FARM INCOME                                      10,722                                    36,657-
      
 OTHER FACTORS    
  85  % CROP ACRES IRRIGATED                                 8.24                                     17.34 
  86  % TILLABLE LAND                                       77.02                                     73.76 
  87  CROP MACH COST/TOT EXPENSE(%)                         40.47                                     33.61 
      
 ACRES                                     TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT   
  88  TOTAL ACRES                           1716    49    969    37   1148    42       2036    46   1000    41   1386    38   
  89  NON-IRRIGATED CROP ACRES              1264    47    607    37   1027    36       1298    44    648    39    910    35   
  90  IRRIGATED CROP ACRES                   334    16    133     8    356    12        479    25    288    17    417    17   
  91  TOTAL CROP ACRES                      1322    49    635    37   1058    39       1535    45    754    40   1081    36   
  92  PASTURE ACRES                          859    22    709    17    622    11        934    26    533    20    757    18   
  93  FARMSTEAD ACRES                         20    21     15    19     14     9         22    13     16    11     23     5   
      
 CROP VALUE, COSTS, ACRES                     TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE
  94  ACRES                                                 1295           656                        1410           814
  95  CROP MACHINERY INVESTMENT                91,708         70.81        139.75        145,662        103.31        178.98  
  96  CROP MACHINERY COST                      46,720         36.07         71.19         67,071         47.57         82.41  
  97  GROSS CROP VALUE                        107,695         81.49        160.83        149,791         99.73        172.79  
  98  CROP PRODUCTION COSTS                   100,246         77.40        152.76        178,951        126.92        219.89  
      
 NON-IRRIGATED ACRES                              AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
  99  CORN  
 100  GRAIN SORGHUM                         21    214    141    52.1   196    55.7     23    226    108    54.6   223    45.7 
 101  SOYBEANS    
 102  SUNFLOWERS  
 103  WHEAT                                 37    596    292    28.9   518    26.5     40    513    306    25.5   383    25.0 
 104  OTHER CROPS 
 105  ALFALFA     
 106  OTHER HAY & FORAGE                    10     63     61            54             12    100     53           154   
 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                                  10    189    103   208.2   210   214.0     14    188    143   173.8   182   208.1 
 111  GRAIN SORGHUM                          6     98                  113   117.9     11    168    168   115.9   102   133.7 
 112  SOYBEANS                               8     85                   76    54.6     10    182    164    41.2   167    43.5 
 113  SUNFLOWERS  
 114  WHEAT                                  7    168                  156    44.2     14    197    122    37.6   195    44.3 
 115  OTHER CROPS 
 116  ALFALFA                                6    134                                   8    292    157     5.2   232     4.6 
 117  OTHER HAY & FORAGE                     4     64     43                            5     92
 118  VEGETABLES  
 119  TRUCK CROPS 
 120  FRUIT - FLOWERS - TREES 
      
 AVERAGE LIVESTOCK INVENTORIES AND SALES  
 121  BEEF COWS                                                 9                                        17 
 122  DAIRY COWS  
 123  EWES  
 124  SOWS  
 125  BEEF PURCHASED FOR RESALE SALES                          56                                        14 
 126  SWINE PURCHASED FOR RESALE SALES    
 127  TURKEYS     
      
%%ISCC CHANGE_OVERLAY   SUMMF2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, SW     
INCOME AND EXPENSE ANALYSIS   
 **BY NET INCOME                                         AVERAGE                                   MY FARM  
                                                        199 FARMS 
      
      ITEM                                               PER FARM                                  PER FARM 
      
   1  BEEF                                                 39,086 
   2  DAIRY AND MILK                                        1,495 
   3  SHEEP                                                   410 
   4  SWINE                                                     2 
   5  POULTRY AND EGGS                                        775 
   6  OTHER LIVESTOCK                                         528-
   7  CUSTOM FEEDING                                        6,249 
   8  FEED PURCHASED                                       10,677-
   9     LIVESTOCK INCOME                                 $36,812 
      
  10  CORN                                                 53,246 
  11  GRAIN SORGHUM                                        13,714 
  12  SOYBEANS                                              7,248 
  13  SUNFLOWERS                                              802 
  14  WHEAT                                                39,906 
  15  HAY AND FORAGE                                       12,690 
  16  OTHER CROP                                            1,677 
  17  GOVERNMENT PAYMENTS                                  33,259 
  18  CROP INSURANCE PROCEEDS                              12,633 
  19  OTHER INCOME                                         21,115 
  20     VALUE OF FARM PRODUCTION                        $233,102 
      
  21  HIRED LABOR                                          13,879 
  22  MACHINERY REPAIRS                                    20,697 
  23  IRRIGATION REPAIRS                                    3,327 
  24  BUILDING REPAIRS                                      1,302 
  25  INTEREST PAID                                        12,056 
  26  SEED-OTHER CROP EXPENSE                              16,570 
  27  CROP INSURANCE                                        5,787 
  28  FERTILIZER-LIME                                      19,992 
  29  MACHINE HIRE                                         16,110 
  30  ORGANIZATION FEE, PUBLICATION                         2,670 
  31  VET-MED-DRUGS                                         2,003 
  32  CROP STORAGE-MARKETING                                1,015 
  33  LIVESTOCK MARKETING-BREEDING                          1,164 
  34  DAIRY EXPENSE                                            14 
  35  GAS-FUEL-OIL                                         12,812 
  36  IRRIGATION ENERGY                                    16,168 
  37  REAL ESTATE TAXES                                     4,354 
  38  PERSONAL PROPERTY TAXES                                 954 
  39  GENERAL FARM INSURANCE                                4,662 
  40  UTILITIES                                             3,787 
  41  CASH FARM RENT                                        7,758 
  42  HERBICIDE-INSECTICIDE                                15,357 
  43  CONSERVATION                                            331 
  44  AUTO EXPENSE                                            798 
  45     TOTAL OPERATING EXPENSE                         $183,566 
      
  46  DEPRECIATION-MACHINERY                               17,222 
  47  DEPRECIATION-BUILDINGS                                2,387 
  48     TOTAL FARM EXPENSE                              $203,175 
      
  49     NET FARM INCOME                                  $29,927 
      
  50  UNPAID FAMILY LABOR                                   1,176 
  51  UNPAID OPERATOR LABOR                                24,300 
  52  MANAGEMENT CHARGE                                     9,054 
  53  CURRENT ASSET CHARGE - 8%                             7,648 
  54  NONCURRENT ASSET CHARGE - 8%                         32,253 
  55  RETURN LABOR-MANAGEMENT                              11,151-
  56  RETURN TO CAPITAL                                     7,452 
  57  ASSET TURNOVER RATIO                                  .3236 
  58  OPERATING PROFIT MARGIN RATIO                         .0320 
  59  % RETURN ON ASSETS                                    .0103 
  60  % RETURN ON EQUITY                                    .0092-
  61  TOTAL EXPENSE RATIO                                   .8716 
  62  ADJUSTED TOTAL EXPENSE RATIO                         1.0197 
  63  ECONOMIC TOTAL EXPENSE RATIO                         1.1909 
      
 ASSETS/LOANS/FINANCIAL RATIOS                 JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31
      
  64  CURRENT ASSETS                            177,657               184,850 
  65  NONCURRENT ASSETS                         534,219               544,084 
  66  CURRENT LIABILITIES                        83,912                87,403 
  67  NONCURRENT LIABILITIES                    132,936               139,031 
  68  CURRENT RATIO                                2.12                  2.11 
  69  DEBT TO ASSET RATIO                           .30                   .31 
%%ISCC CHANGE_OVERLAY   SUMMB2003   

      

                                         2004  KANSAS FARM MANAGEMENT ASSOCIATION, SW     
ANALYSIS OF THE FARM BUSINESS 
 **BY NET INCOME                                         AVERAGE                                   MY FARM  
      
 AVERAGE ASSET & NET WORTH VALUES   
  70  BREEDING LIVESTOCK                                   22,247 
  71  MACHINERY AND EQUIPMENT                              79,897 
  72  MOTOR VEHICLES & LISTED PROPERTY                     74,325 
  73  BUILDINGS                                            24,772 
  74  OWNED LAND                                          334,121 
  75  TOTAL ASSETS                                        720,405 
  76  NET WORTH                                           498,765 
      
 LABOR
  77  NUMBER OF OPERATORS                                     .90 
  78  NUMBER OF WORKERS                                      1.32 
  79  TOTAL WORK DAYS                                         241 
  80  VALUE FARM PRODUCTION/WORKER                        176,579 
  81  NET FARM INCOME/WORKER                               22,670 
      
 PER OPERATOR BASIS     
  82  TOTAL ASSETS                                        800,450 
  83  VALUE OF FARM PRODUCTION                            259,002 
  84  NET FARM INCOME                                      33,252 
      
 OTHER FACTORS    
  85  % CROP ACRES IRRIGATED                                19.35 
  86  % TILLABLE LAND                                       76.56 
  87  CROP MACH COST/TOT EXPENSE(%)                         31.29 
      
 ACRES                                     TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT   
  88  TOTAL ACRES                           2109   195   1012   156   1465   173    
  89  NON-IRRIGATED CROP ACRES              1380   184    616   148   1064   153    
  90  IRRIGATED CROP ACRES                   569   107    292    59    533    82    
  91  TOTAL CROP ACRES                      1632   193    713   152   1251   165    
  92  PASTURE ACRES                          926   102    614    79    718    64    
  93  FARMSTEAD ACRES                         28    71     17    55     27    39    
      
 CROP VALUE, COSTS, ACRES                     TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE
  94  ACRES                                                 1582           953
  95  CROP MACHINERY INVESTMENT               140,314         88.67        147.22   
  96  CROP MACHINERY COST                      63,573         40.17         66.70   
  97  GROSS CROP VALUE                        202,209        125.21        207.90   
  98  CROP PRODUCTION COSTS                   171,238        107.12        177.87   
      
 NON-IRRIGATED ACRES                              AVE.     OWNED         RENTED             AVE.      OWNED        RENTED     
                                           CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD 
  99  CORN                                   5    179 
 100  GRAIN SORGHUM                        105    284    135    61.3   266    55.5  
 101  SOYBEANS    
 102  SUNFLOWERS  
 103  WHEAT                                161    558    256    28.1   464    28.1  
 104  OTHER CROPS                            4     42 
 105  ALFALFA                               11    117     78     2.2   149     2.9  
 106  OTHER HAY & FORAGE                    47    124     57           162    
 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                                  71    337    173   194.0   350   210.0  
 111  GRAIN SORGHUM                         41    154    131   118.4   143   112.9  
 112  SOYBEANS                              39    173    118    48.0   160    52.5  
 113  SUNFLOWERS                             6    162                  162    12.9  
 114  WHEAT                                 59    224    150    38.8   207    49.2  
 115  OTHER CROPS                            7    144                  126    
 116  ALFALFA                               29    227    148     5.5   207     5.0  
 117  OTHER HAY & FORAGE                    24    106     74           123    
 118  VEGETABLES  
 119  TRUCK CROPS 
 120  FRUIT - FLOWERS - TREES 
      
 AVERAGE LIVESTOCK INVENTORIES AND SALES  
 121  BEEF COWS                                                14 
 122  DAIRY COWS                                                1 
 123  EWES  
 124  SOWS  
 125  BEEF PURCHASED FOR RESALE SALES                          89 
 126  SWINE PURCHASED FOR RESALE SALES    
 127  TURKEYS     
      
%%ISCC CHANGE_OVERLAY   SUMMF2003