Southwest KFMA
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       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY TOTAL CROP ACRES                            < 501 ACRES                          501 - 1,000 ACRES     
                                                         13 FARMS                                  19 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            43,038                                    30,124 
        2  DAIRY AND MILK                                    -123                                        -8 
        3  SHEEP                                              262 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                 11,903                                       235 
        7  CUSTOM FEEDING                                   3,227                                        19 
        8  FEED PURCHASED                                  -8,357                                    -7,699 
        9     LIVESTOCK INCOME                       $     49,949                              $     22,671 
      
       10  CORN                                             9,800                                     5,906 
       11  GRAIN SORGHUM                                    2,458                                     9,099 
       12  SOYBEANS                                         1,667 
       13  SUNFLOWERS   
       14  WHEAT                                            7,389                                    28,586 
       15  HAY AND FORAGE                                   7,129                                     7,174 
       16  OTHER CROP   
       17  GOVERNMENT PAYMENTS                             11,103                                    20,682 
       18  CROP INSURANCE PROCEEDS                            122                                     2,402 
       19  OTHER INCOME                                     1,389                                     8,753 
       20     VALUE OF FARM PRODUCTION               $     91,006                              $    105,275 
      
       21  HIRED LABOR                                        552                                     5,808 
       22  MACHINERY REPAIRS                                7,109                                    12,307 
       23  IRRIGATION REPAIRS                               1,845                                       300 
       24  BUILDING REPAIRS                                   599                                     2,499 
       25  INTEREST PAID                                    8,015                                     7,810 
       26  SEED-OTHER CROP EXPENSE                          2,919                                     2,904 
       27  CROP INSURANCE                                   1,029                                     2,329 
       28  FERTILIZER-LIME                                  4,553                                     8,956 
       29  MACHINE HIRE                                     4,205                                    12,399 
       30  ORGANIZATION FEE, PUBLICATION                    2,141                                     2,052 
       31  VET-MED-DRUGS                                    2,075                                     2,272 
       32  CROP STORAGE-MARKETING                             469                                     2,305 
       33  LIVESTOCK MARKETING-BREEDING                     1,162                                       215 
       34  DAIRY EXPENSE                                                                                  5 
       35  GAS-FUEL-OIL                                     5,189                                     9,576 
       36  IRRIGATION ENERGY                                3,075                                     1,567 
       37  REAL ESTATE TAXES                                3,101                                     3,670 
       38  PERSONAL PROPERTY TAXES                            466                                     1,222 
       39  GENERAL FARM INSURANCE                           1,564                                     3,060 
       40  UTILITIES                                        2,271                                     2,818 
       41  CASH FARM RENT                                   8,268                                     5,591 
       42  HERBICIDE-INSECTICIDE                            3,861                                     6,232 
       43  CONSERVATION                                       104                                         8 
       44  AUTO EXPENSE                                     1,477                                     1,350 
       45     TOTAL OPERATING EXPENSE                $     66,049                              $     97,254 
      
       46  DEPRECIATION-MACHINERY                           5,919                                     7,047 
       47  DEPRECIATION-BUILDINGS                             687                                       591 
       48     TOTAL FARM EXPENSE                     $     72,654                              $    104,891 
      
       49     NET FARM INCOME                        $     18,352                              $        384 
      
       50  UNPAID FAMILY LABOR                                692                                     1,658 
       51  UNPAID OPERATOR LABOR                           21,808                                    23,021 
       52  MANAGEMENT CHARGE                                5,436                                     2,882 
       53  CURRENT ASSET CHARGE - 8%                        5,496                                     7,403 
       54  NONCURRENT ASSET CHARGE - 8%                    32,210                                    28,574 
       55  RETURN LABOR-MANAGEMENT                        -20,046                                   -37,251 
       56  RETURN TO CAPITAL                               -1,569                                   -19,367 
       57  ASSET TURNOVER RATIO                             .1442                                     .1880 
       58  OPERATING PROFIT MARGIN RATIO                   -.0172                                    -.1840 
       59  % RETURN ON ASSETS                              -.0025                                    -.0346 
       60  % RETURN ON EQUITY                              -.0203                                    -.0604 
       61  TOTAL EXPENSE RATIO                              .7983                                     .9964 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1053                                    1.2582 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.5196                                    1.5999 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          144,072               171,320             112,426               136,479    
       65  NONCURRENT ASSETS                       470,505               476,728             433,767               437,185    
       66  CURRENT LIABILITIES                      85,865                92,134              31,769                32,064    
       67  NONCURRENT LIABILITIES                   63,953                78,035              79,957                76,653    
       68  CURRENT RATIO                              1.68                  1.86                3.54                  4.26    
       69  DEBT TO ASSET RATIO                         .24                   .26                 .20                   .19    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY TOTAL CROP ACRES                            < 501 ACRES                          501 - 1,000 ACRES     
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              38,896                                    28,490 
       71  MACHINERY AND EQUIPMENT                         21,251                                    35,805 
       72  MOTOR VEHICLES & LISTED PROPE                   31,334                                    44,321 
       73  BUILDINGS                                        7,063                                     7,730 
       74  OWNED LAND                                     404,321                                   335,516 
       75  TOTAL ASSETS                                   631,312                                   559,929 
       76  NET WORTH                                      471,318                                   449,708 
      
       LABOR
       77  NUMBER OF OPERATORS                                .80                                       .85 
       78  NUMBER OF WORKERS                                  .85                                      1.14 
       79  TOTAL WORK DAYS                                     51                                       114 
       80  VALUE FARM PRODUCTION/WORKER                   106,584                                    92,176 
       81  NET FARM INCOME/WORKER                          21,493                                       336 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   781,624                                   656,707 
       83  VALUE OF FARM PRODUCTION                       112,674                                   123,471 
       84  NET FARM INCOME                                 22,721                                       450 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           17.27                                      9.83 
       86  % TILLABLE LAND                                  15.74                                     52.57 
       87  CROP MACH COST/TOT EXPENSE(%)                    21.93                                     32.11 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1605    13   1268    13    399    11       1473    19   1179    16    608    15    
       89  NON-IRRIGATED CROP ACRES         247    11    138    11                     698    19    404    16    454    15    
       90  IRRIGATED CROP ACRES                                                        207     7    192     5     
       91  TOTAL CROP ACRES                 274    12    150    11    326     5        774    19    464    16    486    15    
       92  PASTURE ACRES                   1946     9   1846     8    458     6       1205    11   1269     9     
       93  FARMSTEAD ACRES                   13     5     11     5                       4     5      3     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                           253           168                         774           472  
       95  CROP MACHINERY INVESTMENT           33,760        133.64        200.64         58,585         75.64        124.11  
       96  CROP MACHINERY COST                 15,936         63.08         94.71         33,678         43.49         71.35  
       97  GROSS CROP VALUE                    76,591        303.19        455.19         94,010        121.39        199.17  
       98  CROP PRODUCTION COSTS               39,040        142.66        214.17         70,608         91.17        149.59  
      
       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                                                               9    171    156    82.3    89    78.9  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                            6    119     47    36.6   132    39.3     17    330    235    39.1   200    37.3  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               8     66     41 
      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   
      111  GRAIN SORGHUM
      112  SOYBEANS     
      113  SUNFLOWERS   
      114  WHEAT  
      115  OTHER CROPS  
      116  ALFALFA                                                                     4    112 
      117  OTHER HAY & FORAGE 
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                            3                                        15 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                       131                                        52 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY TOTAL CROP ACRES                      1,001 - 1,500 ACRES                      1,501 - 2,000 ACRES     
                                                         29 FARMS                                  22 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            33,058                                    68,596 
        2  DAIRY AND MILK                                                                            10,970 
        3  SHEEP                                              -34                                     8,724 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                   -142                                    -3,792 
        7  CUSTOM FEEDING                                   3,112 
        8  FEED PURCHASED                                 -11,212                                   -27,509 
        9     LIVESTOCK INCOME                       $     24,783                              $     56,990 
      
       10  CORN                                            25,073                                    15,952 
       11  GRAIN SORGHUM                                   13,398                                    18,895 
       12  SOYBEANS                                         7,533                                    16,472 
       13  SUNFLOWERS                                         686 
       14  WHEAT                                           44,782                                    94,762 
       15  HAY AND FORAGE                                     651                                     4,309 
       16  OTHER CROP                                       1,911                                     3,612 
       17  GOVERNMENT PAYMENTS                             37,123                                    53,255 
       18  CROP INSURANCE PROCEEDS                          3,974                                    11,475 
       19  OTHER INCOME                                    38,924                                     4,917 
       20     VALUE OF FARM PRODUCTION               $    198,837                              $    280,638 
      
       21  HIRED LABOR                                     13,585                                    16,437 
       22  MACHINERY REPAIRS                               19,647                                    35,762 
       23  IRRIGATION REPAIRS                               6,366                                     2,845 
       24  BUILDING REPAIRS                                 1,908                                     1,499 
       25  INTEREST PAID                                    8,821                                    16,991 
       26  SEED-OTHER CROP EXPENSE                         12,611                                    14,057 
       27  CROP INSURANCE                                   4,485                                    10,455 
       28  FERTILIZER-LIME                                 18,278                                    34,706 
       29  MACHINE HIRE                                    13,054                                    14,787 
       30  ORGANIZATION FEE, PUBLICATION                    3,353                                     3,366 
       31  VET-MED-DRUGS                                    1,743                                     4,802 
       32  CROP STORAGE-MARKETING                              97                                        53 
       33  LIVESTOCK MARKETING-BREEDING                     1,539                                     2,810 
       34  DAIRY EXPENSE                                                                                127 
       35  GAS-FUEL-OIL                                    12,879                                    19,260 
       36  IRRIGATION ENERGY                                9,185                                    14,682 
       37  REAL ESTATE TAXES                                4,817                                     6,893 
       38  PERSONAL PROPERTY TAXES                            853                                       934 
       39  GENERAL FARM INSURANCE                           4,731                                     5,380 
       40  UTILITIES                                        4,113                                     4,641 
       41  CASH FARM RENT                                   3,002                                    13,209 
       42  HERBICIDE-INSECTICIDE                           16,775                                    21,292 
       43  CONSERVATION                                       339                                        34 
       44  AUTO EXPENSE                                       836                                       537 
       45     TOTAL OPERATING EXPENSE                $    163,016                              $    245,559 
      
       46  DEPRECIATION-MACHINERY                          18,622                                    19,835 
       47  DEPRECIATION-BUILDINGS                           1,499                                     2,342 
       48     TOTAL FARM EXPENSE                     $    183,136                              $    267,736 
      
       49     NET FARM INCOME                        $     15,701                              $     12,901 
      
       50  UNPAID FAMILY LABOR                              1,552                                     1,023 
       51  UNPAID OPERATOR LABOR                           26,814                                    26,755 
       52  MANAGEMENT CHARGE                                6,958                                     7,301 
       53  CURRENT ASSET CHARGE - 8%                       12,943                                     4,007 
       54  NONCURRENT ASSET CHARGE - 8%                    45,787                                    53,043 
       55  RETURN LABOR-MANAGEMENT                        -44,580                                   -45,172 
       56  RETURN TO CAPITAL                              -10,801                                    -5,185 
       57  ASSET TURNOVER RATIO                             .2222                                     .2603 
       58  OPERATING PROFIT MARGIN RATIO                   -.0543                                    -.0185 
       59  % RETURN ON ASSETS                              -.0121                                    -.0048 
       60  % RETURN ON EQUITY                              -.0267                                    -.0311 
       61  TOTAL EXPENSE RATIO                              .9210                                     .9540 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.0987                                    1.0790 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.3940                                    1.2823 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          204,407               200,029             244,059               262,797    
       65  NONCURRENT ASSETS                       676,571               708,355             803,312               845,717    
       66  CURRENT LIABILITIES                      41,429                39,444             179,117               227,560    
       67  NONCURRENT LIABILITIES                  116,426               123,817             155,243               167,710    
       68  CURRENT RATIO                              4.93                  5.07                1.36                  1.15    
       69  DEBT TO ASSET RATIO                         .18                   .18                 .32                   .36    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY TOTAL CROP ACRES                      1,001 - 1,500 ACRES                      1,501 - 2,000 ACRES     
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              36,439                                    55,179 
       71  MACHINERY AND EQUIPMENT                         90,868                                   125,175 
       72  MOTOR VEHICLES & LISTED PROPE                   80,654                                    92,758 
       73  BUILDINGS                                       17,680                                    29,653 
       74  OWNED LAND                                     450,860                                   556,940 
       75  TOTAL ASSETS                                   894,681                                 1,077,943 
       76  NET WORTH                                      734,123                                   713,128 
      
       LABOR
       77  NUMBER OF OPERATORS                                .99                                       .99 
       78  NUMBER OF WORKERS                                 1.49                                      1.49 
       79  TOTAL WORK DAYS                                    181                                       227 
       80  VALUE FARM PRODUCTION/WORKER                   133,171                                   188,233 
       81  NET FARM INCOME/WORKER                          10,516                                     8,653 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   900,895                                 1,087,832 
       83  VALUE OF FARM PRODUCTION                       200,218                                   283,212 
       84  NET FARM INCOME                                 15,810                                    13,019 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           19.71                                     16.17 
       86  % TILLABLE LAND                                  67.35                                     76.91 
       87  CROP MACH COST/TOT EXPENSE(%)                    28.24                                     33.55 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1832    29   1130    23   1180    23       2255    22   1142    21   1423    18    
       89  NON-IRRIGATED CROP ACRES        1026    28    673    23    697    19       1454    22    751    21    901    18    
       90  IRRIGATED CROP ACRES             470    15    411     9    373     9        386    16    250    11    380     9    
       91  TOTAL CROP ACRES                1234    29    834    23    754    22       1734    22    882    21   1091    18    
       92  PASTURE ACRES                   1104    15    604    11   1416     7        757    15    489    11    664     9    
       93  FARMSTEAD ACRES                   88     9     18     9                      17     6     19     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1234           822                        1734          1156  
       95  CROP MACHINERY INVESTMENT          147,979        119.94        179.92        191,756        110.57        165.91  
       96  CROP MACHINERY COST                 51,715         41.92         62.88         89,838         51.80         77.73  
       97  GROSS CROP VALUE                   188,440        152.73        229.12        263,407        151.89        227.91  
       98  CROP PRODUCTION COSTS              143,251        116.11        174.17        241,815        139.44        209.23  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                             4     98  
      100  GRAIN SORGHUM                   14    214    179    76.4   153    72.7     15    283    151    73.7   288    65.6  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           26    484    270    40.8   407    39.5     22    630    325    39.9   433    39.2  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               7     76                   89              6     59     69
      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                             9    250    237   172.3                    7    208                  290   191.6  
      111  GRAIN SORGHUM                    5    130                                   6    136                  112   102.5  
      112  SOYBEANS                         8    163                  140    50.6      5    211                  152    56.4  
      113  SUNFLOWERS   
      114  WHEAT                            8    262    218    45.5   306    48.5      8    177    166    46.3   147    53.2  
      115  OTHER CROPS  
      116  ALFALFA                                                                     5    167                  144     3.8  
      117  OTHER HAY & FORAGE                                                          5     46     46
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           24                                        24 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        35                                        75 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY TOTAL CROP ACRES                      2,001 - 2,500 ACRES                      2,501 - 3,000 ACRES     
                                                          8 FARMS                                  14 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            37,057                                    62,243 
        2  DAIRY AND MILK     
        3  SHEEP  
        4  SWINE                                             -126 
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                 -1,756                                      -138 
        7  CUSTOM FEEDING     
        8  FEED PURCHASED                                  -8,226                                   -13,062 
        9     LIVESTOCK INCOME                       $     26,949                              $     49,044 
      
       10  CORN                                            10,437                                    37,000 
       11  GRAIN SORGHUM                                   18,943                                    28,666 
       12  SOYBEANS                                         6,638                                     6,811 
       13  SUNFLOWERS   
       14  WHEAT                                           81,035                                    76,997 
       15  HAY AND FORAGE                                  25,902                                       958 
       16  OTHER CROP                                                                                  -837 
       17  GOVERNMENT PAYMENTS                             47,777                                    72,145 
       18  CROP INSURANCE PROCEEDS                          6,132                                     8,737 
       19  OTHER INCOME                                     5,520                                    15,431 
       20     VALUE OF FARM PRODUCTION               $    229,334                              $    294,952 
      
       21  HIRED LABOR                                     29,969                                    30,513 
       22  MACHINERY REPAIRS                               31,040                                    23,541 
       23  IRRIGATION REPAIRS                               1,172                                     2,154 
       24  BUILDING REPAIRS                                   711                                     2,588 
       25  INTEREST PAID                                   17,096                                     8,721 
       26  SEED-OTHER CROP EXPENSE                          7,462                                    13,460 
       27  CROP INSURANCE                                   6,998                                     8,441 
       28  FERTILIZER-LIME                                 16,829                                    29,425 
       29  MACHINE HIRE                                    14,279                                    12,330 
       30  ORGANIZATION FEE, PUBLICATION                    2,723                                     4,684 
       31  VET-MED-DRUGS                                    3,835                                     2,801 
       32  CROP STORAGE-MARKETING                                                                       549 
       33  LIVESTOCK MARKETING-BREEDING                       410                                       631 
       34  DAIRY EXPENSE
       35  GAS-FUEL-OIL                                    25,968                                    22,985 
       36  IRRIGATION ENERGY                                4,967                                     9,594 
       37  REAL ESTATE TAXES                                4,153                                     6,141 
       38  PERSONAL PROPERTY TAXES                          2,500                                     1,579 
       39  GENERAL FARM INSURANCE                           6,473                                     4,401 
       40  UTILITIES                                        8,035                                     4,067 
       41  CASH FARM RENT                                   8,991                                     5,141 
       42  HERBICIDE-INSECTICIDE                           15,703                                    24,127 
       43  CONSERVATION                                                                                 213 
       44  AUTO EXPENSE                                       646                                     1,627 
       45     TOTAL OPERATING EXPENSE                $    209,960                              $    219,712 
      
       46  DEPRECIATION-MACHINERY                          16,517                                    24,646 
       47  DEPRECIATION-BUILDINGS                           1,015                                     2,014 
       48     TOTAL FARM EXPENSE                     $    227,491                              $    246,372 
      
       49     NET FARM INCOME                        $      1,842                              $     48,580 
      
       50  UNPAID FAMILY LABOR
       51  UNPAID OPERATOR LABOR                           25,313                                    28,929 
       52  MANAGEMENT CHARGE                                5,961                                    14,651 
       53  CURRENT ASSET CHARGE - 8%                        2,880                                    24,341 
       54  NONCURRENT ASSET CHARGE - 8%                    47,350                                    54,973 
       55  RETURN LABOR-MANAGEMENT                        -48,387                                   -30,734 
       56  RETURN TO CAPITAL                              -12,335                                    13,722 
       57  ASSET TURNOVER RATIO                             .2546                                     .2587 
       58  OPERATING PROFIT MARGIN RATIO                   -.0538                                     .0465 
       59  % RETURN ON ASSETS                              -.0137                                     .0120 
       60  % RETURN ON EQUITY                              -.0469                                     .0050 
       61  TOTAL EXPENSE RATIO                              .9920                                     .8353 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1283                                     .9830 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.3474                                    1.2520 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          183,865               209,442             362,727               370,456    
       65  NONCURRENT ASSETS                       655,710               752,641             760,931               786,116    
       66  CURRENT LIABILITIES                     137,573               183,744              59,454                65,198    
       67  NONCURRENT LIABILITIES                  123,130               101,465              85,812                86,916    
       68  CURRENT RATIO                              1.34                  1.14                6.10                  5.68    
       69  DEBT TO ASSET RATIO                         .31                   .30                 .13                   .13    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY TOTAL CROP ACRES                      2,001 - 2,500 ACRES                      2,501 - 3,000 ACRES     
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                               7,696                                    27,339 
       71  MACHINERY AND EQUIPMENT                         68,192                                    82,206 
       72  MOTOR VEHICLES & LISTED PROPE                  103,131                                   122,690 
       73  BUILDINGS                                       10,826                                    21,403 
       74  OWNED LAND                                     502,553                                   506,958 
       75  TOTAL ASSETS                                   900,829                                 1,140,115 
       76  NET WORTH                                      627,872                                   991,425 
      
       LABOR
       77  NUMBER OF OPERATORS                                .93                                      1.07 
       78  NUMBER OF WORKERS                                 1.78                                      1.45 
       79  TOTAL WORK DAYS                                    303                                       357 
       80  VALUE FARM PRODUCTION/WORKER                   128,299                                   202,418 
       81  NET FARM INCOME/WORKER                           1,031                                    33,339 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   960,884                                 1,064,107 
       83  VALUE OF FARM PRODUCTION                       244,623                                   275,288 
       84  NET FARM INCOME                                  1,965                                    45,341 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           11.18                                      9.69 
       86  % TILLABLE LAND                                  80.47                                     78.63 
       87  CROP MACH COST/TOT EXPENSE(%)                    37.92                                     37.64 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2859     8   1011     8   1848     8       3449    14   1316    13   2227    14    
       89  NON-IRRIGATED CROP ACRES        2044     8    664     8   1379     8       2449    14    953    13   1564    14    
       90  IRRIGATED CROP ACRES             412     5                                  460     8                 424     7    
       91  TOTAL CROP ACRES                2301     8    783     8   1518     8       2712    14   1007    13   1776    14    
       92  PASTURE ACRES                    744     6                                 1026    10    495     8    900     7    
       93  FARMSTEAD ACRES                                                              10     5     10     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          2301          1385                        2712          1631  
       95  CROP MACHINERY INVESTMENT          152,226         66.16        109.90        192,200         70.87        117.86  
       96  CROP MACHINERY COST                 86,266         37.49         62.28         92,739         34.20         56.87  
       97  GROSS CROP VALUE                   308,775        134.20        222.93        325,850        120.16        199.82  
       98  CROP PRODUCTION COSTS              191,756         83.34        138.44        229,821         84.75        140.93  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                                                                        4    110                  110    56.6  
      100  GRAIN SORGHUM                    5    296    152    49.1                   12    326    150    57.0   286    57.2  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                            8    809    225    28.3   612    34.4     14   1021    302    42.3   822    37.6  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               4    123                   93     
      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                                                                        4    473                  397   186.5  
      111  GRAIN SORGHUM                                                               5    174                  115    97.0  
      112  SOYBEANS                                                                    4    124                  124    52.3  
      113  SUNFLOWERS   
      114  WHEAT                                                                       5     99                   87    55.5  
      115  OTHER CROPS  
      116  ALFALFA
      117  OTHER HAY & FORAGE 
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                            4                                        15 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                       140                                       116 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY TOTAL CROP ACRES                            > 3,501 ACRES    
                                                         14 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            44,530 
        2  DAIRY AND MILK     
        3  SHEEP                                              -39 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                    -13 
        7  CUSTOM FEEDING                                  36,482 
        8  FEED PURCHASED                                 -18,733 
        9     LIVESTOCK INCOME                       $     62,227 
      
       10  CORN                                           103,820 
       11  GRAIN SORGHUM                                   27,422 
       12  SOYBEANS                                         8,503 
       13  SUNFLOWERS   
       14  WHEAT                                          109,812 
       15  HAY AND FORAGE                                  14,801 
       16  OTHER CROP                                      46,588 
       17  GOVERNMENT PAYMENTS                            146,828 
       18  CROP INSURANCE PROCEEDS                         25,470 
       19  OTHER INCOME                                    31,279 
       20     VALUE OF FARM PRODUCTION               $    576,751 
      
       21  HIRED LABOR                                     40,831 
       22  MACHINERY REPAIRS                               24,811 
       23  IRRIGATION REPAIRS                               2,657 
       24  BUILDING REPAIRS                                 2,645 
       25  INTEREST PAID                                   25,582 
       26  SEED-OTHER CROP EXPENSE                         22,648 
       27  CROP INSURANCE                                   8,309 
       28  FERTILIZER-LIME                                 56,832 
       29  MACHINE HIRE                                    94,035 
       30  ORGANIZATION FEE, PUBLICATION                    5,431 
       31  VET-MED-DRUGS                                    6,333 
       32  CROP STORAGE-MARKETING                          13,320 
       33  LIVESTOCK MARKETING-BREEDING                       780 
       34  DAIRY EXPENSE
       35  GAS-FUEL-OIL                                    34,116 
       36  IRRIGATION ENERGY                               38,986 
       37  REAL ESTATE TAXES                                8,611 
       38  PERSONAL PROPERTY TAXES                          1,872 
       39  GENERAL FARM INSURANCE                           7,609 
       40  UTILITIES                                        9,483 
       41  CASH FARM RENT                                  29,737 
       42  HERBICIDE-INSECTICIDE                           49,682 
       43  CONSERVATION                                     1,278 
       44  AUTO EXPENSE                                       549 
       45     TOTAL OPERATING EXPENSE                $    486,138 
      
       46  DEPRECIATION-MACHINERY                          25,518 
       47  DEPRECIATION-BUILDINGS                           1,726 
       48     TOTAL FARM EXPENSE                     $    513,382 
      
       49     NET FARM INCOME                        $     63,369 
      
       50  UNPAID FAMILY LABOR
       51  UNPAID OPERATOR LABOR                           31,821 
       52  MANAGEMENT CHARGE                               18,413 
       53  CURRENT ASSET CHARGE - 8%                       11,229 
       54  NONCURRENT ASSET CHARGE - 8%                    73,402 
       55  RETURN LABOR-MANAGEMENT                        -21,263 
       56  RETURN TO CAPITAL                               38,716 
       57  ASSET TURNOVER RATIO                             .4073 
       58  OPERATING PROFIT MARGIN RATIO                    .0671 
       59  % RETURN ON ASSETS                               .0273 
       60  % RETURN ON EQUITY                               .0124 
       61  TOTAL EXPENSE RATIO                              .8901 
       62  ADJUSTED TOTAL EXPENSE RATIO                     .9772 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.1240 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          276,191               301,288    
       65  NONCURRENT ASSETS                     1,118,795             1,135,565    
       66  CURRENT LIABILITIES                     141,674               155,072    
       67  NONCURRENT LIABILITIES                  203,878               215,426    
       68  CURRENT RATIO                              1.95                  1.94    
       69  DEBT TO ASSET RATIO                         .25                   .26    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY TOTAL CROP ACRES                            > 3,501 ACRES    
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                               7,289 
       71  MACHINERY AND EQUIPMENT                        105,881 
       72  MOTOR VEHICLES & LISTED PROPE                  137,155 
       73  BUILDINGS                                       23,499 
       74  OWNED LAND                                     816,767 
       75  TOTAL ASSETS                                 1,415,920 
       76  NET WORTH                                    1,057,894 
      
       LABOR
       77  NUMBER OF OPERATORS                               1.17 
       78  NUMBER OF WORKERS                                 2.30 
       79  TOTAL WORK DAYS                                    510 
       80  VALUE FARM PRODUCTION/WORKER                   250,761 
       81  NET FARM INCOME/WORKER                          27,552 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                 1,201,386 
       83  VALUE OF FARM PRODUCTION                       489,364 
       84  NET FARM INCOME                                 53,767 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           12.96 
       86  % TILLABLE LAND                                  96.39 
       87  CROP MACH COST/TOT EXPENSE(%)                    34.61 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     4556    14   1962    11   3014    14     
       89  NON-IRRIGATED CROP ACRES        3823    14   1688    11   2688    13     
       90  IRRIGATED CROP ACRES            1594     5                1267     5     
       91  TOTAL CROP ACRES                4392    14   1836    11   2949    14     
       92  PASTURE ACRES
       93  FARMSTEAD ACRES    
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          4392          2265  
       95  CROP MACHINERY INVESTMENT          235,693         53.66        104.04   
       96  CROP MACHINERY COST                177,694         40.46         78.44   
       97  GROSS CROP VALUE                   507,215        115.49        223.89   
       98  CROP PRODUCTION COSTS              438,300         99.80        193.47   
      
       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                    7    480                  321    64.7   
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           13   1354    503    27.4  1048    37.3   
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               7    670    626           547     
      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   
      111  GRAIN SORGHUM
      112  SOYBEANS     
      113  SUNFLOWERS   
      114  WHEAT  
      115  OTHER CROPS  
      116  ALFALFA
      117  OTHER HAY & FORAGE 
      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 PURCH. FOR RESALE SALES                       111 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS