KFMA State Reports

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       2004 DATA - KANSAS     
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY ECON. TOTAL EXPENSE RATIO               HIGH 25%                                HIGH MIDDLE
                                                        471 FARMS                                 471 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            30,507                                    53,033 
        2  DAIRY AND MILK                                   2,275                                    11,699 
        3  SHEEP                                              114                                       239 
        4  SWINE                                              611                                     1,956 
        5  POULTRY AND EGGS                                   369                                       779 
        6  OTHER LIVESTOCK                                     34                                      -822 
        7  CUSTOM FEEDING                                     976                                     1,501 
        8  FEED PURCHASED                                  -8,756                                   -17,516 
        9     LIVESTOCK INCOME                       $     26,131                              $     50,868 
      
       10  CORN                                             6,965                                    33,237 
       11  GRAIN SORGHUM                                    5,452                                    11,779 
       12  SOYBEANS                                         9,689                                    27,613 
       13  SUNFLOWERS                                         180                                       821 
       14  WHEAT                                           18,868                                    35,889 
       15  HAY AND FORAGE                                   2,924                                     6,956 
       16  OTHER CROP                                         845                                     2,617 
       17  GOVERNMENT PAYMENTS                             12,534                                    22,387 
       18  CROP INSURANCE PROCEEDS                          6,107                                    10,735 
       19  OTHER INCOME                                     4,156                                    10,450 
       20     VALUE OF FARM PRODUCTION               $     93,852                              $    213,353 
      
       21  HIRED LABOR                                      4,613                                     9,657 
       22  MACHINERY REPAIRS                               10,800                                    18,766 
       23  IRRIGATION REPAIRS                                 461                                     1,088 
       24  BUILDING REPAIRS                                 1,110                                     1,677 
       25  INTEREST PAID                                    6,368                                    13,323 
       26  SEED-OTHER CROP EXPENSE                          6,144                                    14,977 
       27  CROP INSURANCE                                   2,197                                     5,019 
       28  FERTILIZER-LIME                                 10,502                                    24,221 
       29  MACHINE HIRE                                     4,350                                     8,357 
       30  ORGANIZATION FEE, PUBLICATION                    1,872                                     2,673 
       31  VET-MED-DRUGS                                    1,146                                     2,434 
       32  CROP STORAGE-MARKETING                             133                                     1,002 
       33  LIVESTOCK MARKETING-BREEDING                     1,177                                     2,212 
       34  DAIRY EXPENSE                                      116                                       768 
       35  GAS-FUEL-OIL                                     7,162                                    12,201 
       36  IRRIGATION ENERGY                                1,240                                     4,250 
       37  REAL ESTATE TAXES                                4,283                                     4,390 
       38  PERSONAL PROPERTY TAXES                            462                                       757 
       39  GENERAL FARM INSURANCE                           3,019                                     4,459 
       40  UTILITIES                                        2,568                                     3,785 
       41  CASH FARM RENT                                   5,511                                    13,111 
       42  HERBICIDE-INSECTICIDE                            5,718                                    12,663 
       43  CONSERVATION                                       174                                       308 
       44  AUTO EXPENSE                                       835                                       918 
       45     TOTAL OPERATING EXPENSE                $     81,959                              $    163,016 
      
       46  DEPRECIATION-MACHINERY                          10,394                                    19,363 
       47  DEPRECIATION-BUILDINGS                           1,184                                     2,081 
       48     TOTAL FARM EXPENSE                     $     93,537                              $    184,460 
      
       49     NET FARM INCOME                        $        315                              $     28,892 
      
       50  UNPAID FAMILY LABOR                                841                                     1,882 
       51  UNPAID OPERATOR LABOR                           22,930                                    25,750 
       52  MANAGEMENT CHARGE                                3,220                                     9,013 
       53  CURRENT ASSET CHARGE - 8%                        9,658                                     9,929 
       54  NONCURRENT ASSET CHARGE - 8%                    36,430                                    33,485 
       55  RETURN LABOR-MANAGEMENT                        -46,614                                   -16,404 
       56  RETURN TO CAPITAL                              -20,308                                     5,570 
       57  ASSET TURNOVER RATIO                             .1359                                     .2738 
       58  OPERATING PROFIT MARGIN RATIO                   -.2164                                     .0261 
       59  % RETURN ON ASSETS                              -.0294                                     .0071 
       60  % RETURN ON EQUITY                              -.0463                                    -.0143 
       61  TOTAL EXPENSE RATIO                              .9966                                     .8646 
       62  ADJUSTED TOTAL EXPENSE RATIO                    1.2842                                    1.0363 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.7753                                    1.2398 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          160,147               156,392             197,475               203,952    
       65  NONCURRENT ASSETS                       528,430               536,043             567,484               589,510    
       66  CURRENT LIABILITIES                      35,894                39,201              72,759                80,443    
       67  NONCURRENT LIABILITIES                   76,775                76,938             155,828               164,034    
       68  CURRENT RATIO                              4.46                  3.99                2.71                  2.54    
       69  DEBT TO ASSET RATIO                         .16                   .17                 .30                   .31    
      
       2004 DATA - KANSAS     
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY ECON. TOTAL EXPENSE RATIO               HIGH 25%                                HIGH MIDDLE
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              30,098                                    45,306 
       71  MACHINERY AND EQUIPMENT                         36,362                                    67,504 
       72  MOTOR VEHICLES & LISTED PROPE                   62,947                                    98,738 
       73  BUILDINGS                                       12,420                                    19,843 
       74  OWNED LAND                                     405,384                                   374,438 
       75  TOTAL ASSETS                                   690,506                                   779,210 
       76  NET WORTH                                      576,102                                   542,678 
      
       LABOR
       77  NUMBER OF OPERATORS                                .84                                       .95 
       78  NUMBER OF WORKERS                                 1.00                                      1.30 
       79  TOTAL WORK DAYS                                    156                                       275 
       80  VALUE FARM PRODUCTION/WORKER                    93,003                                   164,117 
       81  NET FARM INCOME/WORKER                             312                                    22,225 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   813,070                                   817,026 
       83  VALUE OF FARM PRODUCTION                       110,511                                   223,707 
       84  NET FARM INCOME                                    371                                    30,295 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                            6.17                                     10.02 
       86  % TILLABLE LAND                                  55.16                                     66.19 
       87  CROP MACH COST/TOT EXPENSE(%)                    36.10                                     32.26 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1348   469    810   434    760   369       1686   471    702   415   1139   450    
       89  NON-IRRIGATED CROP ACRES         721   454    413   409    493   321       1022   463    412   395    729   426    
       90  IRRIGATED CROP ACRES             295    73    250    50    258    35        462   114    264    75    366    90    
       91  TOTAL CROP ACRES                 768   454    443   410    516   324       1133   464    459   397    802   428    
       92  PASTURE ACRES                    735   365    471   333    518   215        739   346    343   291    644   258    
       93  FARMSTEAD ACRES                   63   240     58   231     29    60         56   228     45   207     47    70    
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                           741           543                        1116           995  
       95  CROP MACHINERY INVESTMENT           83,467        112.70        153.58        147,038        131.73        147.76  
       96  CROP MACHINERY COST                 33,767         45.59         62.13         59,499         53.30         59.79  
       97  GROSS CROP VALUE                    86,088        113.28        154.36        184,508        164.59        184.62  
       98  CROP PRODUCTION COSTS               75,185        100.65        137.16        147,103        130.39        146.25  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                           136    114     81   118.6    92   107.7    199    228    132   127.9   171   125.0  
      100  GRAIN SORGHUM                  228    142     94    72.3   112    70.9    270    237    121    82.4   185    78.3  
      101  SOYBEANS                       213    130     91    33.9    95    33.4    267    245    136    37.7   172    35.4  
      102  SUNFLOWERS                       8     98    106   167.7    63    13.7     13    150     78    13.7   175    13.5  
      103  WHEAT                          362    345    191    34.3   276    33.8    403    474    187    38.4   378    37.6  
      104  OTHER CROPS                     24     94    100            65             37     81     92            63    
      105  ALFALFA                        106     53     36     3.6    57     3.4    179     88     62     3.6    78     3.6  
      106  OTHER HAY & FORAGE             241    105     82            72            253    112     62            94    
      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                            38    154    142   175.6   156   191.6     79    272    188   190.0   233   191.6  
      111  GRAIN SORGHUM                   25     98    101   106.3    76    85.0     26     99    107   119.3    76   114.0  
      112  SOYBEANS                        38    118    118    44.3    99    46.0     67    201    120    47.5   178    51.2  
      113  SUNFLOWERS                                                                  9    135                  105    15.0  
      114  WHEAT                           35    134    127    31.5   127    42.5     44    183    135    38.8   160    39.3  
      115  OTHER CROPS                                                                10    121                  125    
      116  ALFALFA                         16    168     75     5.0   233     4.8     20    193    146     4.9   172     4.2  
      117  OTHER HAY & FORAGE              15     72     54            82             27     88     69            79    
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           27                                        37 
      122  DAIRY COWS                                           1                                         3 
      123  EWES                                                 1                                         1 
      124  SOWS                                                                                           3 
      125  BEEF PURCH. FOR RESALE SALES                        28                                        65 
      126  SWINE PURCH. FOR RESALE SALES                        2                                         2 
      127  TURKEYS                                            232                                       142 
      
      
       2004 DATA - KANSAS     
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY ECON. TOTAL EXPENSE RATIO              LOW MIDDLE                                 LOW 25%  
                                                        471 FARMS                                 471 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            87,521                                   123,651 
        2  DAIRY AND MILK                                  18,479                                    24,290 
        3  SHEEP                                              517                                     1,136 
        4  SWINE                                            4,475                                    38,576 
        5  POULTRY AND EGGS                                 2,630                                     2,181 
        6  OTHER LIVESTOCK                                 -1,541                                       647 
        7  CUSTOM FEEDING                                   4,734                                    22,902 
        8  FEED PURCHASED                                 -37,432                                   -61,951 
        9     LIVESTOCK INCOME                       $     79,384                              $    151,433 
      
       10  CORN                                            67,549                                    76,802 
       11  GRAIN SORGHUM                                   20,845                                    21,518 
       12  SOYBEANS                                        48,351                                    63,540 
       13  SUNFLOWERS                                       1,294                                     1,696 
       14  WHEAT                                           49,512                                    46,235 
       15  HAY AND FORAGE                                  12,218                                    11,867 
       16  OTHER CROP                                       3,921                                     4,935 
       17  GOVERNMENT PAYMENTS                             32,792                                    36,552 
       18  CROP INSURANCE PROCEEDS                         13,182                                    14,235 
       19  OTHER INCOME                                    16,526                                    30,070 
       20     VALUE OF FARM PRODUCTION               $    345,574                              $    458,882 
      
       21  HIRED LABOR                                     15,901                                    18,563 
       22  MACHINERY REPAIRS                               25,926                                    27,277 
       23  IRRIGATION REPAIRS                               1,563                                     1,297 
       24  BUILDING REPAIRS                                 1,875                                     2,186 
       25  INTEREST PAID                                   19,323                                    21,444 
       26  SEED-OTHER CROP EXPENSE                         25,520                                    26,752 
       27  CROP INSURANCE                                   7,724                                     8,193 
       28  FERTILIZER-LIME                                 33,701                                    33,801 
       29  MACHINE HIRE                                    13,397                                    15,137 
       30  ORGANIZATION FEE, PUBLICATION                    3,265                                     3,356 
       31  VET-MED-DRUGS                                    4,360                                     6,808 
       32  CROP STORAGE-MARKETING                           2,041                                     2,067 
       33  LIVESTOCK MARKETING-BREEDING                     2,362                                     6,863 
       34  DAIRY EXPENSE                                    1,338                                     1,565 
       35  GAS-FUEL-OIL                                    16,472                                    16,573 
       36  IRRIGATION ENERGY                                6,476                                     6,819 
       37  REAL ESTATE TAXES                                4,559                                     4,257 
       38  PERSONAL PROPERTY TAXES                          1,011                                     1,040 
       39  GENERAL FARM INSURANCE                           5,524                                     5,925 
       40  UTILITIES                                        5,394                                     6,151 
       41  CASH FARM RENT                                  22,277                                    27,001 
       42  HERBICIDE-INSECTICIDE                           20,874                                    20,865 
       43  CONSERVATION                                       493                                       593 
       44  AUTO EXPENSE                                       873                                       857 
       45     TOTAL OPERATING EXPENSE                $    242,251                              $    265,389 
      
       46  DEPRECIATION-MACHINERY                          25,408                                    27,099 
       47  DEPRECIATION-BUILDINGS                           2,961                                     3,917 
       48     TOTAL FARM EXPENSE                     $    270,620                              $    296,405 
      
       49     NET FARM INCOME                        $     74,954                              $    162,477 
      
       50  UNPAID FAMILY LABOR                              1,662                                     2,245 
       51  UNPAID OPERATOR LABOR                           28,880                                    30,204 
       52  MANAGEMENT CHARGE                               17,862                                    32,262 
       53  CURRENT ASSET CHARGE - 8%                       11,534                                    14,445 
       54  NONCURRENT ASSET CHARGE - 8%                    30,602                                    26,390 
       55  RETURN LABOR-MANAGEMENT                         31,155                                   119,396 
       56  RETURN TO CAPITAL                               45,872                                   119,209 
       57  ASSET TURNOVER RATIO                             .3868                                     .4937 
       58  OPERATING PROFIT MARGIN RATIO                    .1327                                     .2598 
       59  % RETURN ON ASSETS                               .0513                                     .1283 
       60  % RETURN ON EQUITY                               .0504                                     .1915 
       61  TOTAL EXPENSE RATIO                              .7831                                     .6459 
       62  ADJUSTED TOTAL EXPENSE RATIO                     .9232                                     .7869 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.0451                                     .8759 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          268,495               299,155             308,136               400,403    
       65  NONCURRENT ASSETS                       588,574               630,800             553,724               596,677    
       66  CURRENT LIABILITIES                     132,977               146,323             165,594               181,811    
       67  NONCURRENT LIABILITIES                  220,536               233,783             238,620               252,021    
       68  CURRENT RATIO                              2.02                  2.04                1.86                  2.20    
       69  DEBT TO ASSET RATIO                         .41                   .41                 .47                   .44    
      
       2004 DATA - KANSAS     
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY ECON. TOTAL EXPENSE RATIO              LOW MIDDLE                                 LOW 25%  
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              54,331                                    48,338 
       71  MACHINERY AND EQUIPMENT                         83,583                                    84,343 
       72  MOTOR VEHICLES & LISTED PROPE                  123,942                                   133,333 
       73  BUILDINGS                                       28,423                                    38,071 
       74  OWNED LAND                                     357,021                                   300,572 
       75  TOTAL ASSETS                                   893,512                                   929,470 
       76  NET WORTH                                      526,703                                   510,447 
      
       LABOR
       77  NUMBER OF OPERATORS                               1.06                                      1.11 
       78  NUMBER OF WORKERS                                 1.64                                      1.85 
       79  TOTAL WORK DAYS                                    400                                       473 
       80  VALUE FARM PRODUCTION/WORKER                   209,452                                   247,151 
       81  NET FARM INCOME/WORKER                          45,429                                    87,509 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   835,340                                   830,860 
       83  VALUE OF FARM PRODUCTION                       323,075                                   410,198 
       84  NET FARM INCOME                                 70,074                                   145,239 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           12.44                                     11.04 
       86  % TILLABLE LAND                                  66.56                                     68.21 
       87  CROP MACH COST/TOT EXPENSE(%)                    29.21                                     25.63 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     2153   470    693   395   1666   449       2244   468    639   364   1813   451    
       89  NON-IRRIGATED CROP ACRES        1304   460    415   377   1035   428       1400   455    382   339   1178   431    
       90  IRRIGATED CROP ACRES             665   126    280    62    568   117        618   128    270    65    531   116    
       91  TOTAL CROP ACRES                1451   464    457   380   1151   434       1561   459    430   342   1305   436    
       92  PASTURE ACRES                    910   356    321   281    855   285       1027   313    365   222    981   245    
       93  FARMSTEAD ACRES                   71   203     54   180     68    67        109   204     78   182    144    56    
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1430          1404                        1521          1510  
       95  CROP MACHINERY INVESTMENT          182,421        127.59        129.89        183,773        120.84        121.68  
       96  CROP MACHINERY COST                 79,045         55.29         56.28         75,967         49.95         50.30  
       97  GROSS CROP VALUE                   305,864        211.20        215.00        358,525        230.74        232.35  
       98  CROP PRODUCTION COSTS              208,662        144.39        146.99        209,912        134.80        135.74  
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                           265    307    146   129.2   242   128.6    294    403    178   131.8   330   134.1  
      100  GRAIN SORGHUM                  299    298    140    93.9   245    85.5    248    352    128    87.9   311    88.1  
      101  SOYBEANS                       309    393    171    38.5   312    38.6    304    500    167    40.0   429    39.7  
      102  SUNFLOWERS                      22    137     73    17.3   143    11.7     35    141     82    12.6   121    12.6  
      103  WHEAT                          398    547    175    41.9   449    39.9    375    554    162    39.4   500    39.6  
      104  OTHER CROPS                     49    105     77           104             23    275    129           273    
      105  ALFALFA                        176    107     60     3.8   102     4.5    134    110     48     3.9   119     5.5  
      106  OTHER HAY & FORAGE             263    137     72           121            216    167     89           152    
      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                           103    417    172   205.3   371   200.5    101    396    184   196.2   354   199.4  
      111  GRAIN SORGHUM                   31    140    163   108.5   113   102.4     27    150     70   119.3   167    99.0  
      112  SOYBEANS                        84    215    143    53.0   182    53.8     75    234    142    53.1   207    54.4  
      113  SUNFLOWERS                      12    155                  141    17.4     11    179    140    19.4   113    14.5  
      114  WHEAT                           61    243    177    47.1   213    47.3     44    228    123    27.3   209    43.5  
      115  OTHER CROPS                      9    168                  168             10    173     98           130    
      116  ALFALFA                         14    151    161     5.8    99     4.9     20    169    100     5.6   148     5.7  
      117  OTHER HAY & FORAGE              21    136     90           122             29    167    140           159    
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           47                                        31 
      122  DAIRY COWS                                           5                                         5 
      123  EWES                                                 4 
      124  SOWS                                                 2                                        13 
      125  BEEF PURCH. FOR RESALE SALES                       133                                       202 
      126  SWINE PURCH. FOR RESALE SALES                       23                                        57 
      127  TURKEYS                                          1,266                                     1,215 
      
      
       2004 DATA - KANSAS     
       INCOME AND EXPENSE ANALYSIS  
       SORTED BY ECON. TOTAL EXPENSE RATIO               AVERAGE                                   MY FARM  
                                                       1884 FARMS 
      
             ITEM                                        PER FARM                                  PER FARM 
      
        1  BEEF                                            73,678 
        2  DAIRY AND MILK                                  14,186 
        3  SHEEP                                              502 
        4  SWINE                                           11,404 
        5  POULTRY AND EGGS                                 1,490 
        6  OTHER LIVESTOCK                                   -420 
        7  CUSTOM FEEDING                                   7,529 
        8  FEED PURCHASED                                 -31,414 
        9     LIVESTOCK INCOME                       $     76,954 
      
       10  CORN                                            46,138 
       11  GRAIN SORGHUM                                   14,898 
       12  SOYBEANS                                        37,298 
       13  SUNFLOWERS                                         998 
       14  WHEAT                                           37,626 
       15  HAY AND FORAGE                                   8,491 
       16  OTHER CROP                                       3,079 
       17  GOVERNMENT PAYMENTS                             26,066 
       18  CROP INSURANCE PROCEEDS                         11,065 
       19  OTHER INCOME                                    15,301 
       20     VALUE OF FARM PRODUCTION               $    277,915 
      
       21  HIRED LABOR                                     12,183 
       22  MACHINERY REPAIRS                               20,692 
       23  IRRIGATION REPAIRS                               1,102 
       24  BUILDING REPAIRS                                 1,712 
       25  INTEREST PAID                                   15,114 
       26  SEED-OTHER CROP EXPENSE                         18,348 
       27  CROP INSURANCE                                   5,783 
       28  FERTILIZER-LIME                                 25,556 
       29  MACHINE HIRE                                    10,310 
       30  ORGANIZATION FEE, PUBLICATION                    2,792 
       31  VET-MED-DRUGS                                    3,687 
       32  CROP STORAGE-MARKETING                           1,311 
       33  LIVESTOCK MARKETING-BREEDING                     3,154 
       34  DAIRY EXPENSE                                      947 
       35  GAS-FUEL-OIL                                    13,102 
       36  IRRIGATION ENERGY                                4,696 
       37  REAL ESTATE TAXES                                4,372 
       38  PERSONAL PROPERTY TAXES                            817 
       39  GENERAL FARM INSURANCE                           4,732 
       40  UTILITIES                                        4,475 
       41  CASH FARM RENT                                  16,975 
       42  HERBICIDE-INSECTICIDE                           15,030 
       43  CONSERVATION                                       392 
       44  AUTO EXPENSE                                       871 
       45     TOTAL OPERATING EXPENSE                $    188,154 
      
       46  DEPRECIATION-MACHINERY                          20,566 
       47  DEPRECIATION-BUILDINGS                           2,536 
       48     TOTAL FARM EXPENSE                     $    211,256 
      
       49     NET FARM INCOME                        $     66,659 
      
       50  UNPAID FAMILY LABOR                              1,658 
       51  UNPAID OPERATOR LABOR                           26,941 
       52  MANAGEMENT CHARGE                               15,589 
       53  CURRENT ASSET CHARGE - 8%                       11,392 
       54  NONCURRENT ASSET CHARGE - 8%                    31,727 
       55  RETURN LABOR-MANAGEMENT                         21,883 
       56  RETURN TO CAPITAL                               37,586 
       57  ASSET TURNOVER RATIO                             .3376 
       58  OPERATING PROFIT MARGIN RATIO                    .1352 
       59  % RETURN ON ASSETS                               .0457 
       60  % RETURN ON EQUITY                               .0417 
       61  TOTAL EXPENSE RATIO                              .7601 
       62  ADJUSTED TOTAL EXPENSE RATIO                     .9191 
       63  ECONOMIC TOTAL EXPENSE RATIO                    1.0743 
      
       ASSETS/LOANS/FINANCIAL RATIOS             JANUARY 1           DECEMBER 31           JANUARY 1           DECEMBER 31    
      
       64  CURRENT ASSETS                          233,563               264,975    
       65  NONCURRENT ASSETS                       559,553               588,258    
       66  CURRENT LIABILITIES                     101,806               111,945    
       67  NONCURRENT LIABILITIES                  172,940               181,694    
       68  CURRENT RATIO                              2.29                  2.37    
       69  DEBT TO ASSET RATIO                         .35                   .34    
      
       2004 DATA - KANSAS     
       ANALYSIS OF THE FARM BUSINESS
       SORTED BY ECON. TOTAL EXPENSE RATIO               AVERAGE                                   MY FARM  
      
       AVERAGE ASSET & NET WORTH VALUES   
       70  BREEDING LIVESTOCK                              44,518 
       71  MACHINERY AND EQUIPMENT                         67,948 
       72  MOTOR VEHICLES & LISTED PROPE                  104,740 
       73  BUILDINGS                                       24,689 
       74  OWNED LAND                                     359,354 
       75  TOTAL ASSETS                                   823,174 
       76  NET WORTH                                      538,982 
      
       LABOR
       77  NUMBER OF OPERATORS                                .99 
       78  NUMBER OF WORKERS                                 1.45 
       79  TOTAL WORK DAYS                                    326 
       80  VALUE FARM PRODUCTION/WORKER                   191,148 
       81  NET FARM INCOME/WORKER                          45,848 
      
       PER OPERATOR BASIS     
       82  TOTAL ASSETS                                   824,970 
       83  VALUE OF FARM PRODUCTION                       278,521 
       84  NET FARM INCOME                                 66,805 
      
       OTHER FACTORS    
       85  % CROP ACRES IRRIGATED                           10.47 
       86  % TILLABLE LAND                                  64.91 
       87  CROP MACH COST/TOT EXPENSE(%)                    29.38 
      
       ACRES                              TOTAL   CNT   OWNED  CNT  RENTED  CNT      TOTAL   CNT   OWNED  CNT  RENTED  CNT    
       88  TOTAL ACRES                     1858  1878    715  1608   1372  1719     
       89  NON-IRRIGATED CROP ACRES        1112  1832    406  1520    884  1606     
       90  IRRIGATED CROP ACRES             538   441    266   252    475   358     
       91  TOTAL CROP ACRES                1230  1841    448  1529    974  1622     
       92  PASTURE ACRES                    847  1380    379  1127    759  1003     
       93  FARMSTEAD ACRES                   74   875     58   800     70   253     
      
       CROP VALUE, COSTS, ACRES              TOTAL    PER CROP ACRE PER HARV.ACRE      TOTAL     PER CROP ACRE  PER HARV.ACRE 
       94  ACRES                                          1202          1113  
       95  CROP MACHINERY INVESTMENT          149,175        124.12        133.99   
       96  CROP MACHINERY COST                 62,069         51.64         55.75   
       97  GROSS CROP VALUE                   233,848        191.47        206.70   
       98  CROP PRODUCTION COSTS              160,009        131.37        141.81   
      
       NON-IRRIGATED ACRES                       AVE.     OWNED         RENTED             AVE.      OWNED        RENTED
                                          CNT   ACRES  ACRES  YIELD  ACRES  YIELD    CNT   ACRES  ACRES  YIELD  ACRES  YIELD  
       99  CORN                           894    292    141   127.8   243   127.6   
      100  GRAIN SORGHUM                 1045    261    120    83.7   224    81.8   
      101  SOYBEANS                      1093    335    143    37.6   282    37.4   
      102  SUNFLOWERS                      78    137     83    37.5   131    12.6   
      103  WHEAT                         1538    482    180    38.4   410    38.1   
      104  OTHER CROPS                    133    126     95           128     
      105  ALFALFA                        595     92     53     3.7    95     4.4   
      106  OTHER HAY & FORAGE             973    129     75           112     
      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                           321    343    175   193.7   323   197.7   
      111  GRAIN SORGHUM                  109    123    109   113.1   112   100.7   
      112  SOYBEANS                       264    203    131    49.7   181    52.6   
      113  SUNFLOWERS                      35    147    123    17.0   119    15.6   
      114  WHEAT                          184    204    138    35.8   190    44.0   
      115  OTHER CROPS                     31    150     85           138     
      116  ALFALFA                         70    172    112     5.3   158     4.9   
      117  OTHER HAY & FORAGE              92    121     88           118     
      118  VEGETABLES   
      119  TRUCK CROPS  
      120  FRUIT - FLOWERS - TREES  
      
       AVERAGE LIVESTOCK INVENTORIES AND SALES  
      121  BEEF COWS                                           36 
      122  DAIRY COWS                                           3 
      123  EWES                                                 1 
      124  SOWS                                                 5 
      125  BEEF PURCH. FOR RESALE SALES                       107 
      126  SWINE PURCH. FOR RESALE SALES                       21 
      127  TURKEYS                                            714