Southwest KFMA
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       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY CAPITAL MANAGED                             < 500,001                        500,001 - 750,000   
                                                         11 FARMS                                  15 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            13,873                                     7,884 
        2  DAIRY AND MILK                                                                               -11 
        3  SHEEP                                              128                                       -67 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                     41                                       333 
        7  CUSTOM FEEDING                                                                             2,330 
        8  FEED PURCHASED                                  -2,712                                    -1,170 
        9     LIVESTOCK INCOME                       $     11,330                              $      9,299 
      
       10  CORN                                             8,539                                     4,364 
       11  GRAIN SORGHUM                                    6,137                                     6,494 
       12  SOYBEANS                                                                                   7,480 
       13  SUNFLOWERS                                                                                   200 
       14  WHEAT                                           12,896                                    22,594 
       15  HAY AND FORAGE                                   5,490                                     1,125 
       16  OTHER CROP                                                                                  -161 
       17  GOVERNMENT PAYMENTS                             12,267                                    19,818 
       18  CROP INSURANCE PROCEEDS                          1,810                                     2,998 
       19  OTHER INCOME                                     2,220                                     7,038 
       20     VALUE OF FARM PRODUCTION               $     60,688                              $     81,249 
      
       21  HIRED LABOR                                      2,130                                     4,273 
       22  MACHINERY REPAIRS                                5,033                                     7,716 
       23  IRRIGATION REPAIRS                                  16                                       362 
       24  BUILDING REPAIRS                                   372                                     1,802 
       25  INTEREST PAID                                    2,409                                     4,356 
       26  SEED-OTHER CROP EXPENSE                          1,909                                     3,295 
       27  CROP INSURANCE                                   1,301                                     2,371 
       28  FERTILIZER-LIME                                  5,093                                     7,997 
       29  MACHINE HIRE                                     5,119                                     8,042 
       30  ORGANIZATION FEE, PUBLICATION                    1,096                                     1,612 
       31  VET-MED-DRUGS                                    1,069                                        87 
       32  CROP STORAGE-MARKETING                             682                                       459 
       33  LIVESTOCK MARKETING-BREEDING                       627                                        68 
       34  DAIRY EXPENSE                                                                                  7 
       35  GAS-FUEL-OIL                                     5,157                                     6,247 
       36  IRRIGATION ENERGY                                1,482                                     3,362 
       37  REAL ESTATE TAXES                                  917                                     3,025 
       38  PERSONAL PROPERTY TAXES                            261                                       592 
       39  GENERAL FARM INSURANCE                           1,556                                     2,137 
       40  UTILITIES                                        1,733                                     2,356 
       41  CASH FARM RENT                                   2,452                                     2,195 
       42  HERBICIDE-INSECTICIDE                            3,382                                     5,225 
       43  CONSERVATION                                                                                  14 
       44  AUTO EXPENSE                                     1,814                                     1,090 
       45     TOTAL OPERATING EXPENSE                $     45,610                              $     68,689 
      
       46  DEPRECIATION-MACHINERY                           2,948                                     6,756 
       47  DEPRECIATION-BUILDINGS                             172                                       411 
       48     TOTAL FARM EXPENSE                     $     48,729                              $     75,856 
      
       49     NET FARM INCOME                        $     11,959                              $      5,393 
      
       50  UNPAID FAMILY LABOR                                                                        1,650 
       51  UNPAID OPERATOR LABOR                           18,900                                    25,200 
       52  MANAGEMENT CHARGE                                3,405                                     3,348 
       53  CURRENT ASSET CHARGE - 8%                        2,237                                     3,536 
       54  NONCURRENT ASSET CHARGE - 8%                     8,022                                    30,615 
       55  RETURN LABOR-MANAGEMENT                          1,700                                   -30,408 
       56  RETURN TO CAPITAL                               -7,937                                   -20,449 
       57  ASSET TURNOVER RATIO                             .3378                                     .1693 
       58  OPERATING PROFIT MARGIN RATIO                   -.1308                                    -.2517 
       59  % RETURN ON ASSETS                              -.0442                                    -.0426 
       60  % RETURN ON EQUITY                              -.0807                                    -.0581 
       61  TOTAL EXPENSE RATIO                              .8029                                     .9336 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1705                                    1.3053 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.3395                                    1.7256 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                           37,247                48,089              62,956                69,684    
       65  NONCURRENT ASSETS                       136,702               137,225             413,530               413,834    
       66  CURRENT LIABILITIES                      15,183                14,223              21,270                22,967    
       67  NONCURRENT LIABILITIES                   36,784                36,599              31,548                30,444    
       68  CURRENT RATIO                              2.45                  3.38                2.96                  3.03    
       69  DEBT TO ASSET RATIO                         .30                   .27                 .11                   .11    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY CAPITAL MANAGED                             < 500,001                        500,001 - 750,000   
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                               7,343                                     8,848 
       71  MACHINERY AND EQUIPMENT                         13,333                                    35,691 
       72  MOTOR VEHICLES & LISTED PROPE                   18,352                                    48,705 
       73  BUILDINGS                                        2,724                                     6,121 
       74  OWNED LAND                                      99,220                                   308,823 
       75  TOTAL ASSETS                                   179,631                                   480,003 
       76  NET WORTH                                      128,237                                   426,888 
      
       LABOR
       77  NUMBER OF OPERATORS                                .70                                       .93 
       78  NUMBER OF WORKERS                                  .77                                      1.05 
       79  TOTAL WORK DAYS                                     51                                       108 
       80  VALUE FARM PRODUCTION/WORKER                    78,538                                    77,135 
       81  NET FARM INCOME/WORKER                          15,477                                     5,120 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   256,616                                   514,288 
       83  VALUE OF FARM PRODUCTION                        86,697                                    87,053 
       84  NET FARM INCOME                                 17,085                                     5,779 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                            5.00                                     12.88 
       86  % TILLABLE LAND                                  79.15                                     83.53 
       87  CROP MACH COST/TOT EXPENSE(%)                    36.85                                     42.00 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                      574    11    230    10    365    11       1015    15    818    13    511     9    
       89  NON-IRRIGATED CROP ACRES         432    11    141    10    417     8        739    15    550    13    492     8    
       90  IRRIGATED CROP ACRES                                                        328     5
       91  TOTAL CROP ACRES                 454    11    166    10    417     8        848    15    651    13    532     8    
       92  PASTURE ACRES                    212     6                                  346     7    346     6     
       93  FARMSTEAD ACRES                    9     5      7     5                      17     5     17     5     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                           454           297                         848           456  
       95  CROP MACHINERY INVESTMENT           27,986         61.58         94.18         76,437         90.12        167.62  
       96  CROP MACHINERY COST                 17,957         39.51         60.43         31,858         37.56         69.86  
       97  GROSS CROP VALUE                    57,129        125.71        192.26         99,847        117.73        218.96  
       98  CROP PRODUCTION COSTS               38,928         85.66        131.01         69,179         81.57        151.70  
      
       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                    5    147                  127    89.1      5    229    168    79.8    
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                            9    213     83    38.2   178    37.6     13    275    217    40.1   198    41.2  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               5     68     25                            4     45 
      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                                            4                                         7 
      122  DAIRY COWS   
      123  EWES                                                 1 
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        26 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY CAPITAL MANAGED                     750,001 - 1,000,000                    1,000,001 - 1,375,000 
                                                         16 FARMS                                  14 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            18,192                                    24,686 
        2  DAIRY AND MILK                                    -100 
        3  SHEEP                                                                                     13,853 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                   -256                                    11,098 
        7  CUSTOM FEEDING                                   3,986                                       500 
        8  FEED PURCHASED                                 -14,676                                    -6,629 
        9     LIVESTOCK INCOME                       $      7,145                              $     43,507 
      
       10  CORN                                            11,954                                    25,532 
       11  GRAIN SORGHUM                                   14,219                                    15,053 
       12  SOYBEANS                                         1,730                                       227 
       13  SUNFLOWERS                                                                                 1,206 
       14  WHEAT                                           46,339                                    46,085 
       15  HAY AND FORAGE                                   4,772                                     7,957 
       16  OTHER CROP                                       1,733                                       574 
       17  GOVERNMENT PAYMENTS                             38,172                                    42,333 
       18  CROP INSURANCE PROCEEDS                          8,966                                     3,576 
       19  OTHER INCOME                                     3,033                                    13,354 
       20     VALUE OF FARM PRODUCTION               $    138,064                              $    199,404 
      
       21  HIRED LABOR                                      5,195                                     9,982 
       22  MACHINERY REPAIRS                               17,460                                    18,247 
       23  IRRIGATION REPAIRS                                 498                                     1,403 
       24  BUILDING REPAIRS                                   622                                       466 
       25  INTEREST PAID                                    8,190                                     7,198 
       26  SEED-OTHER CROP EXPENSE                          6,868                                    10,576 
       27  CROP INSURANCE                                   4,195                                     5,881 
       28  FERTILIZER-LIME                                 16,096                                    21,694 
       29  MACHINE HIRE                                     7,542                                    14,625 
       30  ORGANIZATION FEE, PUBLICATION                    2,896                                     2,172 
       31  VET-MED-DRUGS                                    3,028                                     1,143 
       32  CROP STORAGE-MARKETING                           2,394                                        51 
       33  LIVESTOCK MARKETING-BREEDING                     1,299                                       248 
       34  DAIRY EXPENSE
       35  GAS-FUEL-OIL                                    10,647                                    14,808 
       36  IRRIGATION ENERGY                               10,183                                    11,297 
       37  REAL ESTATE TAXES                                3,407                                     3,718 
       38  PERSONAL PROPERTY TAXES                            889                                       844 
       39  GENERAL FARM INSURANCE                           3,695                                     4,696 
       40  UTILITIES                                        2,656                                     5,290 
       41  CASH FARM RENT                                   4,951                                     7,715 
       42  HERBICIDE-INSECTICIDE                           11,717                                    14,846 
       43  CONSERVATION                                       210 
       44  AUTO EXPENSE                                       858                                       820 
       45     TOTAL OPERATING EXPENSE                $    125,495                              $    157,722 
      
       46  DEPRECIATION-MACHINERY                           9,250                                     9,933 
       47  DEPRECIATION-BUILDINGS                             333                                     1,215 
       48     TOTAL FARM EXPENSE                     $    135,078                              $    168,869 
      
       49     NET FARM INCOME                        $      2,986                              $     30,535 
      
       50  UNPAID FAMILY LABOR                              1,266                                     1,446 
       51  UNPAID OPERATOR LABOR                           24,975                                    24,686 
       52  MANAGEMENT CHARGE                                3,545                                     8,672 
       53  CURRENT ASSET CHARGE - 8%                        3,601                                     7,552 
       54  NONCURRENT ASSET CHARGE - 8%                    24,432                                    29,352 
       55  RETURN LABOR-MANAGEMENT                        -26,313                                    -7,816 
       56  RETURN TO CAPITAL                              -18,610                                     2,929 
       57  ASSET TURNOVER RATIO                             .2715                                     .3333 
       58  OPERATING PROFIT MARGIN RATIO                   -.1348                                     .0147 
       59  % RETURN ON ASSETS                              -.0366                                     .0049 
       60  % RETURN ON EQUITY                              -.0765                                    -.0093 
       61  TOTAL EXPENSE RATIO                              .9784                                     .8469 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1941                                    1.0214 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.3972                                    1.2065 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          125,743               140,567             163,755               178,437    
       65  NONCURRENT ASSETS                       363,978               386,738             424,068               430,147    
       66  CURRENT LIABILITIES                      73,637               102,642              76,530                76,856    
       67  NONCURRENT LIABILITIES                   65,540                74,379              59,456                60,953    
       68  CURRENT RATIO                              1.71                  1.37                2.14                  2.32    
       69  DEBT TO ASSET RATIO                         .28                   .34                 .23                   .23    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY CAPITAL MANAGED                     750,001 - 1,000,000                    1,000,001 - 1,375,000 
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              27,462                                    47,847 
       71  MACHINERY AND EQUIPMENT                         42,458                                    51,715 
       72  MOTOR VEHICLES & LISTED PROPE                   52,480                                    58,543 
       73  BUILDINGS                                        6,120                                    11,752 
       74  OWNED LAND                                     256,060                                   284,252 
       75  TOTAL ASSETS                                   508,513                                   598,204 
       76  NET WORTH                                      350,414                                   461,306 
      
       LABOR
       77  NUMBER OF OPERATORS                                .92                                       .91 
       78  NUMBER OF WORKERS                                 1.08                                      1.40 
       79  TOTAL WORK DAYS                                    131                                       191 
       80  VALUE FARM PRODUCTION/WORKER                   126,955                                   142,432 
       81  NET FARM INCOME/WORKER                           2,745                                    21,811 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   549,744                                   654,285 
       83  VALUE OF FARM PRODUCTION                       149,258                                   218,098 
       84  NET FARM INCOME                                  3,228                                    33,398 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           10.97                                     12.32 
       86  % TILLABLE LAND                                  76.25                                     67.42 
       87  CROP MACH COST/TOT EXPENSE(%)                    28.92                                     31.83 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1390    16    781    13    863    14       1900    14    747    12   1260    14    
       89  NON-IRRIGATED CROP ACRES        1006    15    583    12    736    11       1123    14    357    12    880    13    
       90  IRRIGATED CROP ACRES             207     9                 182     7        368     6
       91  TOTAL CROP ACRES                1060    16    632    12    721    13       1281    14    437    12    976    13    
       92  PASTURE ACRES                    514     9    315     8                     956     9                 822     6    
       93  FARMSTEAD ACRES    
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1060           562                        1281           940  
       95  CROP MACHINERY INVESTMENT           75,546         71.30        134.45         89,967         70.23         95.73  
       96  CROP MACHINERY COST                 39,065         36.87         69.53         53,746         41.96         57.19  
       97  GROSS CROP VALUE                   176,047        166.16        313.32        192,809        150.51        205.15  
       98  CROP PRODUCTION COSTS              108,373        102.29        192.88        150,780        109.30        148.97  
      
       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                    6    197                  168    76.5      7    329                  313    63.3  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           12    456    230    36.5   363    38.3     13    605    201    37.3   466    40.1  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE                                                          5    113 
      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    254 
      111  GRAIN SORGHUM                    4     95  
      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                                                                                     41 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        53 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY CAPITAL MANAGED                   1,375,001 - 1,750,000                    1,750,001 - 2,125,000 
                                                         18 FARMS                                  16 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            42,338                                    67,416 
        2  DAIRY AND MILK                                  13,408 
        3  SHEEP                                                                                        -34 
        4  SWINE  
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                 -1,083                                   -10,091 
        7  CUSTOM FEEDING                                                                            17,186 
        8  FEED PURCHASED                                 -23,984                                   -10,649 
        9     LIVESTOCK INCOME                       $     30,679                              $     63,828 
      
       10  CORN                                            12,396                                    53,146 
       11  GRAIN SORGHUM                                   20,209                                    20,217 
       12  SOYBEANS                                        22,687                                     6,278 
       13  SUNFLOWERS   
       14  WHEAT                                           90,672                                   100,780 
       15  HAY AND FORAGE                                     818                                    17,805 
       16  OTHER CROP                                       2,749 
       17  GOVERNMENT PAYMENTS                             48,765                                    67,240 
       18  CROP INSURANCE PROCEEDS                          7,337                                     3,692 
       19  OTHER INCOME                                    -1,597                                    20,443 
       20     VALUE OF FARM PRODUCTION               $    234,715                              $    353,430 
      
       21  HIRED LABOR                                     18,309                                    30,056 
       22  MACHINERY REPAIRS                               27,636                                    28,555 
       23  IRRIGATION REPAIRS                               3,069                                     3,287 
       24  BUILDING REPAIRS                                 1,117                                     1,376 
       25  INTEREST PAID                                   10,954                                    19,049 
       26  SEED-OTHER CROP EXPENSE                          9,471                                    16,452 
       27  CROP INSURANCE                                   7,857                                     8,006 
       28  FERTILIZER-LIME                                 24,287                                    36,568 
       29  MACHINE HIRE                                    14,204                                    31,656 
       30  ORGANIZATION FEE, PUBLICATION                    3,174                                     4,269 
       31  VET-MED-DRUGS                                    1,745                                     5,214 
       32  CROP STORAGE-MARKETING                               4                                       475 
       33  LIVESTOCK MARKETING-BREEDING                       363                                     3,590 
       34  DAIRY EXPENSE                                      155 
       35  GAS-FUEL-OIL                                    17,892                                    26,962 
       36  IRRIGATION ENERGY                                6,104                                    13,533 
       37  REAL ESTATE TAXES                                5,442                                     6,426 
       38  PERSONAL PROPERTY TAXES                          1,955                                       953 
       39  GENERAL FARM INSURANCE                           3,743                                     6,617 
       40  UTILITIES                                        4,716                                     7,585 
       41  CASH FARM RENT                                   7,019                                    26,298 
       42  HERBICIDE-INSECTICIDE                           17,505                                    20,568 
       43  CONSERVATION                                       116                                       181 
       44  AUTO EXPENSE                                       972                                     1,184 
       45     TOTAL OPERATING EXPENSE                $    187,810                              $    298,859 
      
       46  DEPRECIATION-MACHINERY                          16,629                                    19,479 
       47  DEPRECIATION-BUILDINGS                           1,408                                       790 
       48     TOTAL FARM EXPENSE                     $    205,848                              $    319,129 
      
       49     NET FARM INCOME                        $     28,868                              $     34,301 
      
       50  UNPAID FAMILY LABOR                              1,375                                     1,125 
       51  UNPAID OPERATOR LABOR                           26,250                                    30,375 
       52  MANAGEMENT CHARGE                                9,681                                    11,768 
       53  CURRENT ASSET CHARGE - 8%                       11,899                                     8,630 
       54  NONCURRENT ASSET CHARGE - 8%                    46,478                                    49,087 
       55  RETURN LABOR-MANAGEMENT                        -30,885                                   -24,541 
       56  RETURN TO CAPITAL                                2,515                                    10,082 
       57  ASSET TURNOVER RATIO                             .2485                                     .3334 
       58  OPERATING PROFIT MARGIN RATIO                    .0107                                     .0285 
       59  % RETURN ON ASSETS                               .0027                                     .0095 
       60  % RETURN ON EQUITY                              -.0116                                    -.0124 
       61  TOTAL EXPENSE RATIO                              .8770                                     .9029 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.0360                                    1.0254 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.2847                                    1.1887 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          232,777               231,613             229,627               309,704    
       65  NONCURRENT ASSETS                       697,601               726,703             775,865               804,702    
       66  CURRENT LIABILITIES                      91,227                75,682             146,697               176,882    
       67  NONCURRENT LIABILITIES                  122,583               139,759             162,248               191,151    
       68  CURRENT RATIO                              2.55                  3.06                1.57                  1.75    
       69  DEBT TO ASSET RATIO                         .23                   .22                 .31                   .33    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY CAPITAL MANAGED                   1,375,001 - 1,750,000                    1,750,001 - 2,125,000 
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              52,781                                    32,070 
       71  MACHINERY AND EQUIPMENT                         81,456                                   109,519 
       72  MOTOR VEHICLES & LISTED PROPE                   97,363                                    88,574 
       73  BUILDINGS                                       20,858                                    10,858 
       74  OWNED LAND                                     497,279                                   550,300 
       75  TOTAL ASSETS                                   944,347                                 1,059,948 
       76  NET WORTH                                      729,721                                   721,459 
      
       LABOR
       77  NUMBER OF OPERATORS                                .97                                      1.12 
       78  NUMBER OF WORKERS                                 1.47                                      1.77 
       79  TOTAL WORK DAYS                                    235                                       355 
       80  VALUE FARM PRODUCTION/WORKER                   159,429                                   199,115 
       81  NET FARM INCOME/WORKER                          19,608                                    19,325 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   971,329                                   942,176 
       83  VALUE OF FARM PRODUCTION                       241,422                                   314,160 
       84  NET FARM INCOME                                 29,693                                    30,490 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           14.41                                     13.31 
       86  % TILLABLE LAND                                  75.90                                     81.50 
       87  CROP MACH COST/TOT EXPENSE(%)                    35.25                                     29.82 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2417    18   1182    17   1463    16       3064    16   1260    14   2242    14    
       89  NON-IRRIGATED CROP ACRES        1767    16    714    16   1123    15       2165    16    895    14   1579    14    
       90  IRRIGATED CROP ACRES             433    11    190     6    453     8        484    11    230     9    464     7    
       91  TOTAL CROP ACRES                1943    17    785    16   1279    16       2497    16   1042    14   1811    14    
       92  PASTURE ACRES                    946    11    829     9    490     6        642    14    301    10    854     7    
       93  FARMSTEAD ACRES                                                              16     5
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1835          1206                        2497          1471  
       95  CROP MACHINERY INVESTMENT          161,381         87.95        133.82        172,481         69.08        117.26  
       96  CROP MACHINERY COST                 72,551         39.54         60.16         95,162         38.11         64.70  
       97  GROSS CROP VALUE                   263,855        143.80        218.79        315,344        126.29        214.39  
       98  CROP PRODUCTION COSTS              196,032        106.84        162.55        242,999         97.32        165.20  
      
       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                   11    348    153    61.1   275    63.7     13    214    107    67.8   290    57.8  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           16    740    274    37.2   515    37.0     16    880    337    38.7   719    36.1  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               6     89                   70              6     57                   52    
      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    138                                   6    388    113   168.6    
      111  GRAIN SORGHUM                    4     97                                   5    161    158   123.8    
      112  SOYBEANS                         5    246                  205    55.2   
      113  SUNFLOWERS   
      114  WHEAT                            7    257                  297    47.5      4    114 
      115  OTHER CROPS  
      116  ALFALFA                                                                     4    248 
      117  OTHER HAY & FORAGE                                                          4    176 
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           16                                         6 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                        58                                       132 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS
      
      
       2005 DATA - SW KANSAS  
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY CAPITAL MANAGED                   2,125,001 - 2,500,000                              > 2,500,001 
                                                         12 FARMS                                  19 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            67,308                                   107,092 
        2  DAIRY AND MILK     
        3  SHEEP  
        4  SWINE                                                                                        -53 
        5  POULTRY AND EGGS   
        6  OTHER LIVESTOCK                                 -2,612                                    -7,506 
        7  CUSTOM FEEDING                                   2,237                                    26,882 
        8  FEED PURCHASED                                 -23,778                                   -26,228 
        9     LIVESTOCK INCOME                       $     43,155                              $    100,187 
      
       10  CORN                                            22,865                                   100,324 
       11  GRAIN SORGHUM                                   13,047                                    26,300 
       12  SOYBEANS                                         1,559                                    19,274 
       13  SUNFLOWERS   
       14  WHEAT                                           59,296                                    87,124 
       15  HAY AND FORAGE                                   2,456                                    15,957 
       16  OTHER CROP                                       3,232                                    34,410 
       17  GOVERNMENT PAYMENTS                             45,426                                   125,504 
       18  CROP INSURANCE PROCEEDS                          4,548                                    22,789 
       19  OTHER INCOME                                    71,378                                    45,589 
       20     VALUE OF FARM PRODUCTION               $    266,963                              $    577,458 
      
       21  HIRED LABOR                                     16,349                                    48,639 
       22  MACHINERY REPAIRS                               21,574                                    40,858 
       23  IRRIGATION REPAIRS                              12,299                                     4,434 
       24  BUILDING REPAIRS                                 4,009                                     4,457 
       25  INTEREST PAID                                   25,332                                    27,961 
       26  SEED-OTHER CROP EXPENSE                         15,095                                    27,768 
       27  CROP INSURANCE                                   6,084                                     9,580 
       28  FERTILIZER-LIME                                 19,485                                    58,489 
       29  MACHINE HIRE                                    30,180                                    61,521 
       30  ORGANIZATION FEE, PUBLICATION                    5,398                                     5,987 
       31  VET-MED-DRUGS                                    7,079                                     9,512 
       32  CROP STORAGE-MARKETING                              19                                     9,827 
       33  LIVESTOCK MARKETING-BREEDING                       743                                     2,421 
       34  DAIRY EXPENSE
       35  GAS-FUEL-OIL                                    16,424                                    36,582 
       36  IRRIGATION ENERGY                                6,394                                    39,764 
       37  REAL ESTATE TAXES                                7,602                                    10,907 
       38  PERSONAL PROPERTY TAXES                            970                                     2,475 
       39  GENERAL FARM INSURANCE                           5,564                                     8,715 
       40  UTILITIES                                        4,108                                     7,452 
       41  CASH FARM RENT                                  11,684                                    14,642 
       42  HERBICIDE-INSECTICIDE                           16,944                                    54,658 
       43  CONSERVATION                                        21                                     1,272 
       44  AUTO EXPENSE                                       738                                       517 
       45     TOTAL OPERATING EXPENSE                $    234,097                              $    488,438 
      
       46  DEPRECIATION-MACHINERY                          33,345                                    34,964 
       47  DEPRECIATION-BUILDINGS                           2,953                                     4,151 
       48     TOTAL FARM EXPENSE                     $    270,394                              $    527,554 
      
       49     NET FARM INCOME                        $     -3,432                              $     49,905 
      
       50  UNPAID FAMILY LABOR
       51  UNPAID OPERATOR LABOR                           27,000                                    30,553 
       52  MANAGEMENT CHARGE                                6,069                                    17,507 
       53  CURRENT ASSET CHARGE - 8%                       21,919                                    16,422 
       54  NONCURRENT ASSET CHARGE - 8%                    70,915                                   101,269 
       55  RETURN LABOR-MANAGEMENT                        -96,266                                   -67,786 
       56  RETURN TO CAPITAL                              -11,168                                    29,806 
       57  ASSET TURNOVER RATIO                             .1696                                     .2992 
       58  OPERATING PROFIT MARGIN RATIO                   -.0418                                     .0516 
       59  % RETURN ON ASSETS                              -.0071                                     .0154 
       60  % RETURN ON EQUITY                              -.0315                                     .0013 
       61  TOTAL EXPENSE RATIO                             1.0129                                     .9136 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.1367                                     .9968 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.4845                                    1.2006 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          407,715               390,294             422,521               473,006    
       65  NONCURRENT ASSETS                     1,149,090             1,200,879           1,447,328             1,516,593    
       66  CURRENT LIABILITIES                     118,076               131,955             205,589               279,387    
       67  NONCURRENT LIABILITIES                  279,632               297,467             218,747               213,458    
       68  CURRENT RATIO                              3.45                  2.96                2.06                  1.69    
       69  DEBT TO ASSET RATIO                         .26                   .27                 .23                   .25    
      
       2005 DATA - SW KANSAS  
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY CAPITAL MANAGED                   2,125,001 - 2,500,000                              > 2,500,001 
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              38,543                                    32,398 
       71  MACHINERY AND EQUIPMENT                        143,131                                   145,226 
       72  MOTOR VEHICLES & LISTED PROPE                  126,348                                   168,624 
       73  BUILDINGS                                       30,850                                    47,307 
       74  OWNED LAND                                     772,258                                 1,068,683 
       75  TOTAL ASSETS                                 1,573,989                                 1,929,724 
       76  NET WORTH                                    1,160,424                                 1,471,134 
      
       LABOR
       77  NUMBER OF OPERATORS                               1.00                                      1.13 
       78  NUMBER OF WORKERS                                 1.80                                      2.33 
       79  TOTAL WORK DAYS                                    327                                       455 
       80  VALUE FARM PRODUCTION/WORKER                   148,313                                   247,111 
       81  NET FARM INCOME/WORKER                          -1,907                                    21,356 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                 1,573,989                                 1,705,338 
       83  VALUE OF FARM PRODUCTION                       266,963                                   510,312 
       84  NET FARM INCOME                                 -3,432                                    44,102 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           10.48                                     22.56 
       86  % TILLABLE LAND                                  71.78                                     66.94 
       87  CROP MACH COST/TOT EXPENSE(%)                    28.28                                     32.07 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     3466    12   1775    12   2030    10       4759    19   2686    16   2791    17    
       89  NON-IRRIGATED CROP ACRES        2227    12   1033    12   1432    10       2467    19   1247    16   1923    14    
       90  IRRIGATED CROP ACRES             522     6                                 1242    11    437     8   1016    10    
       91  TOTAL CROP ACRES                2488    12   1225    12   1515    10       3186    19   1466    16   2317    16    
       92  PASTURE ACRES                   1667     7    932     7                    3731     8   3247     6   1728     6    
       93  FARMSTEAD ACRES                   11     6     11     6
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          2488          1392                        3186          2005  
       95  CROP MACHINERY INVESTMENT          233,419         93.82        167.65        285,224         89.53        142.26  
       96  CROP MACHINERY COST                 76,478         30.74         54.93        169,210         53.12         84.40  
       97  GROSS CROP VALUE                   270,853        108.87        194.54        498,023        156.33        248.40  
       98  CROP PRODUCTION COSTS              177,958         71.53        127.82        448,603        140.82        223.76  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                                                                        4    189 
      100  GRAIN SORGHUM                    8    272    171    51.3   162    57.5     11    352    256    66.4   298    68.3  
      101  SOYBEANS     
      102  SUNFLOWERS   
      103  WHEAT                           12    909    331    36.1   808    37.6     17    988    506    38.8   786    38.3  
      104  OTHER CROPS  
      105  ALFALFA
      106  OTHER HAY & FORAGE               5     55     52                            6    783    632
      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                             5    208    187   182.6                    8    629    233   153.9   552   177.6  
      111  GRAIN SORGHUM                                                               6    220                  202   110.5  
      112  SOYBEANS                                                                    7    262                  217    49.4  
      113  SUNFLOWERS   
      114  WHEAT                            4    237                                   8    250    178    46.1   215    59.2  
      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                                           21                                        25 
      122  DAIRY COWS   
      123  EWES   
      124  SOWS   
      125  BEEF PURCH. FOR RESALE SALES                       207                                       222 
      126  SWINE PURCH. FOR RESALE SALES  
      127  TURKEYS