Point Here for Help written by Duane Griffith

This spreadsheet contains the following financial statements and schedules. Montana State University
210 Linfield Hall
1 Beginning fiscal year balance sheet with schedules and deferred tax calculations. Bozeman, MT 59717
2 Ending fiscal year balance sheet with shcedules and deferred tax calculations. [email protected]
3 Monthly Cash Flow Statement with schedules. August of 1999
4 Income statement (both cash and accrual adjusted) Check for updates to this spreads
5 Statement of Cash Flows http://www.montana.edu/wwwex
6 Statement of Owner Equity
7 Valuation Equity Statement
8 Financial ratios and measures calculated according to the Farm Financial Standards Guidelines (FFSG)
9 Print Macros to print all, or a portion of this spreadsheet.

These financial statements are linked together "as necessary" to give a complete financial picture of an
individual operation. For example, much of the information on the Income Statement page is brought
forward from the CashFlow page and the Beginning and Ending Balance Sheet pages. However, some
addition data entry is required on the Income Statment page. Data entry cells are shown in blue text,
unless it is left blank. Cells that are calculated are shown in black text and/or shaded in yellow. Please
make sure that you carefully check each tab and complete all necessary data entry or erase old data that
is not relavent.

You can select any of these financial statements by clicking on the page tabs at the bottom of the screen.
To scroll page tabs, use the left and right set of arrows in the lower left corner of the screen.
Duane Griffith
Montana State University
210 Linfield Hall
Bozeman, MT 59717
[email protected]
August of 1999
Check for updates to this spreadsheet at:
http://www.montana.edu/wwwextec/software/software.htm
 Current
Schedule A -- Cash, Checking, Savings, CD's (Farm Only) Balance
Check Book Balance 13000
Undeposited Checks 0
Cash on Hand 0
Savings Accounts and CD's 8700
Money Market 12500

Total Cash, Checking, Savings, CD's Available 34200

Schedule B -- Prepaid Expenses and Supplies

Quantity Fair
Bu./Ton Cost Total Market Market
Description of Item Cwt/Gal Per Unit Cost Value/Unit Value
Diesel 500 1.00 500.00 1.00 500.00
Gas 500 1.00 500.00 1.00 500.00
Oil and Lub 40 5.00 200.00 5.00 200.00
Misc 1 800.00 800.00 800.00 800.00
Seed 500 6.00 3,000.00 6.00 3,000.00
Salt and Mineral 2.5 320.00 800.00 320.00 800.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
Total Cost of Prepaid Expenses and Supplies 5,800
Total Fair Market Value Prepaid Expenses and Supplies 5,800

Schedule C -- Invested in Growing Crops

Quant.
Input Item Of Price Number Total
Crop Material Material Per Unit Acres Invested
W. Wheat seed 1.00 6.00 840.00 5040
W. Wheat fert 1.00 12.00 840.00 10080
W. Wheat fuel 1.00 1725.00 1.00 1725
W wheat Interest 1.00 0.60 840.00 504
Summer Fallow 1.00 5.40 2000.00 10800
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
Total Invested in Growing Crops 28149
 Beginning Fiscal Year Balance Sheet
Name: Case Farm Ranch Cost Date: December 31, 1995 Cost
or Book Market or Book Market
Current Farm Assets Value Value Current Farm Liabilities Value Value
Cash, Checking, Savings, CD's (Sch. A) 34,200 34,200 Farm Accounts Payable (Sch. O) 3,200 3,200
Prepaid Expenses (Sch. B) 5,800 5,800 Accrued Interest (Schedules O,P,Q,R,S) 10,006 10,006
Growing Crops (Sch. C) 28,149 28,149 Principle Due in 12 Months (Schedules R,S) 103,190 103,190
Accounts Receivable (Sch. D) 2,200 2,200 Leins and Judgements (Sch. P) 0 0
Notes Receivable (Sch D) 0 0 Personal property taxes (Sch T) 4,000 4,000
Government Payments Receivable (Sch D) 0 0 Real estate Taxes (Sch T) 4,750 4,750
PIK Certificates (Sch E) 0 0 Accrued Lease Payments (Land Only) (Sch L) 2,000 2,000
Securities Readily Marketable, Farm (Sch. F) 0 0 Accrued Payroll Tax Due Within 12 Months (Sch T) 0 0
Other 0 0 Other 0 0
Crops Held For Sale or Feed Quan. Other 0 0
Raised Crops For Sale NOT Feed (Sch. G) 169,140 169,140 Other 0 0
Purchased Crops For Sale NOT Feed (Sch. G) 0 0 Other 0 0
Raised Crops For Feed NOT Sale (Sch. G) 38,008 38,008 Short Term Notes (NOT Ann. Oprtng or Cap. Assets)
Purchased Crops For Feed NOT Sale (Sch. G) 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Crops Under Gov. Loan Quan. Other 0 0
Crops Under Gov. Loan (Sch. H) 57,000 57,000 Other 0 0
Other 0 0 Cur. Farm Notes Payable (Ann. Oprtng, CCC, C. A.) Principle Balance
Other 0 0 Current Note Principle Due in 12 Mo. (Sch. Q) 12,000 12,000
Other 0 0 CCC Wheat Loans (Sch. H) 49,000 49,000
Other 0 0 Other 0 0
Livestock Held for Sale Quan. Other 0 0
Value of Lvstck Held for Sale (Sch I) 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Deferred Tax Liability on Current Assets 111,492 111,492
Total Current Farm Assets 334,497 334,497 Total Current Farm Liabilities 299,638 299,638
Non Current Farm Assets Quan. Non Current Farm Liabilities
Breeding Stock (Sch J) 324,000 Description
Cost or Base Val. (Sch J) 321,000 Prin. Due Beyond 12 Months From (Sch. R) 225,854 225,854
Less Accumulated Dep. 2,000 319,000 Prin. Due Beyond 12 Months From (Sch. Q) 0 0
Other 0 0 Prin. Due Beyond 12 Months From (Sch. O) 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Farm Machinery & Equipment (Sch K) 400,000 Real Estate&Other Long Term Loans (Sch. S) 241,189 241,189
Cost or Basis (Sch K) 551,250 Other 0 0
Less Accumulated Dep. 92,292 458,958 Other 0 0
Farm Real Estate (Sch. L) Acres = 9500 1,887,500 Other 0 0
Cost or Basis (Sch L) 862,000 Other 0 0
Less Accumulated Dep. 89,626 772,374 Total Non Current Farm Liabilities 467,043 467,043
Other 0 0 Total Current and Non-Current Liabilities 766,681 766,681
Other 0 0 Deferred Tax Liability on Non Current Assets 584,872
Other 0 0 Total Farm Liabilities 766,681 1,351,553
Other 0 0 Retained Earnings/Contributed Capital 1,127,148 1,127,148
Other 0 0
Securities Not Readily Marketable (Sch. M) 9,000 9,000 Valuation Equity 476,296
Total NonCurrent Farm Assets 1,559,332 2,620,500 Net Worth (Business Only) 1,127,148 1,603,444
Total Farm Assets 1,893,829 2,954,997 Total Liabilities and Net Worth 1,893,829 2,954,997

Nonfarm Assets Nonfarm Liabilites

Non-Farm Assets from (Sch N) 108,000 108,000 Nonfarm Accounts Payable and Accrued Exp. 0 0
Cash Value of Life Ins. (Sch. N) 15,000 15,000 Nonfarm Notes Payable 0 0
Securities Marketable and Non (Sch. F, M) 0 0 Deferred Tax Liability on Nonfarm Assets 0
Other 0 0 Total Nonfarm Liabilities 0 0
Other 0 0 Total Liabilities (Farm & NonFarm) 766,681 1,351,553
Total Nonfarm Assets 123,000 123,000 NET WORTH (Equity) - Combined 1,250,148 1,726,444
Total Assets(Farm &NonFarm) 2,016,829 3,077,997 Total Liabilities and Net Worth (Combined) 2,016,829 3,077,997

Commonly Used Ratios For Financial Analysis: Current Ratio Debt to Asset Ratio Debt to Equity Ratio
Cost Basis 1.12 0.3801 0.6133
Market Value 1.12 0.4391 0.7829
Current and Non Current Deferred Tax Calculations
Case Farm Ranch December 31, 1995
Current Portion of Deferred Taxes @ Market Value
Market Cost or Tax
Current Assets Value Basis
Prepaid Expenses (Sch. B) 5800 0
Growing Crops (Sch. C) 28149 0
Accounts Receivable (Sch. D) 2200 0
Notes Receivable (Sch D) 0 0
Government Payments Receivable (Sch D) 0 0
PIK Certificates (Sch E) 0 0
Securities Readily Marketable, Farm (Sch. F) 0 0
Crops For Sale & Feed (Sch. G) 207148 0
Crops Under Gov. Loan (Sch. H) 57000 49000
Value of Lvstck Held for Sale (Sch I) 0 0
Futures or Options Account Equity (Net Equity) 0 0
Other 0 0
Other 0 0
Total Market Value 300297
Total Tax Basis Value 49000
Excess of Market Value Over Tax Basis 251297

Deductions (Liabilities that result in tax deductions when paid)

Farm Accounts Payable (Sch. O) 3200.00
Accrued Interest (Schedules O,P,Q,R,S) 10006.00
Personal property taxes (Sch T) 4000.00
Real estate Taxes (Sch T) 4750.00
Accrued Lease Payments (Land Only) (Sch L) 2000.00
Other Accrued Expenses 0
Employee Payroll Withholdings (Payroll Taxes) 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Total Deductions 23956.00

Deferred Income Related to Current Assets & Liabilities 227341

Minus Net Operating Loss Carry Forward 0
Deferred Taxable Income Related to Current Assets & Liabilites 227341

Marginal Estimated
Tax Rate Tax
Federal Marginal Income Tax Rate 28% 63655
State Marginal Income Tax Rate 15% 34101
Local Marginal Income Tax Rate 0% 0
Self Employment Tax Rate (Limited by Max)
Old-age, Survivor, & Disability Portion of SE Tax Rate 12.40%
Medicare (Hospital Insurance) Portion 2.90%
Maximum Dollar Amount for Self Employment Tax 57600 13735

Deferred Tax Estimate on Current Assets & Liabilities (Market) 111492

Cost Tax
Current Assets Value Basis
Prepaid Expenses (Sch. B) 5800 0
Growing Crops (Sch. C) 28149 0
Accounts Receivable (Sch. D) 2200 0
Notes Receivable (Sch D) 0 0
Government Payments Receivable (Sch D) 0 0
PIK Certificates (Sch E) 0 0
Securities Readily Marketable, Farm (Sch. F) 0 0
Crops For Sale & Feed (Sch. G) 207148 0
Crops Under Gov. Loan (Sch. H) 57000 49000
Value of Lvstck Held for Sale (Sch I) 0 0
Other 0 0
Other 0 0
Other 0 0
Total Cost/Book Value 300297
Total Tax Basis Value 49000
Excess of Cost/Book Value Over Tax Basis 251297

Deductions (Liabilities that result in tax deductions when paid)

Farm Accounts Payable (Sch. O) 3200
Accrued Interest (Schedules O,P,Q,R,S) 10006
Personal property taxes (Sch T) 4000
Real estate Taxes (Sch T) 4750
Accrued Lease Payments (Land Only) (Sch L) 2000
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Total Deductions 23956

Deferred Taxable Income Related to Current Assets & Liabilities 227341

Minus Net Operating Loss Carry Forward 0
Deferred Taxable Income Related to Current Assets & Liabilites 227341

Marginal Estimated
Tax Rate Tax
Federal Estimated Income Tax Rate 28% 63655
State Estimated Income Tax Rate 15% 34101
Local Estimated Income Tax Rate 0% 0
Estimated Self Employment Tax Rate (Limited)
Old-age, Survivor, & Disability Portion of SE Tax Rate 12.40%
Medicare (Hospital Insurance) Portion 2.90%
Maximum Dollar Amount for Self Employment Tax 57600 13735

Deferred Tax Estimate on Current Assets & Liabilities (Cost) 111492

Noncurrent Portion of Deferred Taxes

Cost
Market or Tax
Total Noncurrent Farm Assets Value Basis
Breeding Stock (Sch J) 324000 319000
Adjust Breeding Lvstk Cost Basis (FFSG) -299000
Farm Machinery & Equipment (Sch K) 400000 458958
Farm Real Estate (Sch L) 1887500 772374
Other Non-Current Assets 0 0
Other Non-Current Assets 0 0
Total Market Value of Noncurrent Assets 2611500
Total Cost or Book Value of Noncurrent Assets 1251332

Excess of Market Value over Tax Basis on Noncurrent Assets 1360168

Deductions-Noncurrent-(Liabilities that result in tax deductions when paid)

Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Total Deductions for Noncurrent 0

Deferred Income Related to Noncurrent Assets & Liabilities 1360168

Minus Net Operating Loss Carry Forward (Not Used In Current Section) 0
Deferred Taxable Income for Noncurrent Assets & Liabilities 1360168

Marginal Estimated
Tax Rate Tax
Federal Estimated Income Tax Rate 28% 380847
State Estimated Income Tax Rate 15% 204025

Total Deferred Tax Estimate Related to Noncurrent 584872

Assets and Liabilities
 Current
Schedule A -- Cash, Checking, Savings, CD's (Farm Only) Balance
Check Book Balance 13114
Undeposited Checks 0
Cash on Hand 0
Savings Accounts and CD's 8700
Money Market 12500
0
Total Cash, Checking, Savings, CD's Available 34314

Schedule B -- Prepaid Expenses and Supplies

Quantity Fair
Bu./Ton Cost Total Market Market
Description of Item Cwt/Gal Per Unit Cost Value/Unit Value
Diesel 500 1.00 500.00 1.00 500.00
Gas 500 1.00 500.00 1.00 500.00
Oil and Lub 40 5.00 200.00 5.00 200.00
Misc 1 200.00 200.00 200.00 200.00
Seed 500 6.00 3,000.00 6.00 3,000.00
Salt and Mineral 2.5 320.00 800.00 320.00 800.00
0 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00
0 0.00 0.00 0.00 0.00
Total Cost of Prepaid Expenses and Supplies 5,200
Total Fair Market Value Prepaid Expenses and Supplies 5,200

Schedule C -- Invested in Growing Crops

Quant.
Input Item Of Price Number Total
Crop Material Material Per Unit Acres Invested
W. Wheat seed 1.00 6.00 840.00 5040
W. Wheat fert 1.00 12.00 840.00 10080
W. Wheat fuel 1.00 1725.00 1.00 1725
W wheat Interest 1.00 0.60 840.00 504
Summer Fallow 1.00 5.40 2000.00 10800
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
0.00 0.00 0.00 0.00 0
Total Invested in Growing Crops 28149
 Ending Fiscal Year Balance Sheet
Name: Case Farm Ranch Cost Date: December 31, 1996 Cost
or Book Market or Book Market
Current Farm Assets Value Value Current Farm Liabilities Value Value
Cash, Checking, Savings, CD's (Sch. A) 34,314 34,314 Farm Accounts Payable (Sch. O) 0 0
Prepaid Expenses (Sch. B) 5,200 5,200 Accrued Interest (Schedules O,P,Q,R,S) 9,531 9,531
Growing Crops (Sch. C) 28,149 28,149 Principle Due in 12 Months (Schedules R,S) 110,269 110,269
Accounts Receivable (Sch. D) 0 0 Leins and Judgements (Sch. P) 0 0
Notes Receivable (Sch D) 0 0 Personal property taxes (Sch T) 4,000 4,000
Government Payments Receivable (Sch D) 0 0 Real estate Taxes (Sch T) 4,750 4,750
PIK Certificates (Sch E) 0 0 Accrued Lease Payments (Land Only) (Sch L) 2,000 2,000
Securities Readily Marketable, Farm (Sch. F) 0 0 Accrued Payroll Tax Due Within 12 Months (Sch T) 0 0
Other 0 0 Other 0 0
Crops Held For Sale or Feed Quan. Other 0 0
Raised Crops For Sale NOT Feed (Sch. G) 114,648 114,648 Other 0 0
Purchased Crops For Sale NOT Feed (Sch. G) 0 0 Other 0 0
Raised Crops For Feed NOT Sale (Sch. G) 50,923 50,923 Short Term Notes (NOT Ann. Oprtng or Cap. Assets)
Purchased Crops For Feed NOT Sale (Sch. G) 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Crops Under Gov. Loan Quan. Other 0 0
Crops Under Gov. Loan (Sch. H) 57,000 57,000 Other 0 0
Other 0 0 Cur. Farm Notes Payable (Ann. Oprtng, CCC, C. A.) Principle Balance
Other 0 0 Current Note Principle Due in 12 Mo. (Sch. Q) 9,000 9,000
Other 0 0 CCC Wheat Loans (Sch. H) 49,000 49,000
Other 0 0 Other 0 0
Livestock Held for Sale Quan. Other 0 0
Value of Lvstck Held for Sale (Sch I) 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Deferred Tax Liability on Current Assets 92,810 92,810
Total Current Farm Assets 290,234 290,234 Total Current Farm Liabilities 281,360 281,360
Non Current Farm Assets Quan. Non Current Farm Liabilities
Breeding Stock (Sch J) 332,000 Description
Cost or Base Val. (Sch J) 329,000 0 Prin. Due Beyond 12 Months From (Sch. R) 153,215 153,215
Less Accumulated Dep. 8,667 0 320,333 Prin. Due Beyond 12 Months From (Sch. Q) 0 0
Other 0 0 Prin. Due Beyond 12 Months From (Sch. O) 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Other 0 0 Other 0 0
Farm Machinery & Equipment (Sch K) 400,000 Real Estate&Other Long Term Loans (Sch. S) 203,559 203,559
Cost or Basis (Sch K) 551,250 Other 0 0
Less Accumulated Dep. 132,983 418,267 Other 0 0
Farm Real Estate (Sch. L) Acres = 9500 1,887,500 Other 0 0
Cost or Basis (Sch L) 862,000 Other 0 0
Less Accumulated Dep. 96,376 765,624 Total Non Current Farm Liabilities 356,774 356,774
Other 0 0 Total Current and Non-Current Liabilities 638,134 638,134
Other 0 0 Deferred Tax Liability on Non Current Assets 608,139
Other 0 0 Total Farm Liabilities 638,134 1,246,272
Other 0 0 Retained Earnings/Contributed Capital 1,165,324 1,165,324
Other 0 0
Securities Not Readily Marketable (Sch. M) 9,000 9,000 Valuation Equity 507,137
Total NonCurrent Farm Assets 1,513,224 2,628,500 Net Worth (Business Only) 1,165,324 1,672,462
Total Farm Assets 1,803,458 2,918,734 Total Liabilities and Net Worth 1,803,458 2,918,734

Nonfarm Assets Nonfarm Liabilites

Non-Farm Assets from (Sch N) 78,000 78,000 Nonfarm Accounts Payable and Accrued Exp. 0 0
Cash Value of Life Ins. (Sch. N) 15,000 15,000 Nonfarm Notes Payable 0 0
Securities Marketable and Non (Sch. F, M) 0 0 Deferred Tax Liability on Nonfarm Assets 0
Other 0 0 Total Nonfarm Liabilities 0 0
Other 0 0 Total Liabilities (Farm & NonFarm) 638,134 1,246,272
Total Nonfarm Assets 93,000 93,000 NET WORTH (Equity) - Combined 1,258,324 1,765,462
Total Assets(Farm &NonFarm) 1,896,458 3,011,734 Total Liabilities and Net Worth (Combined) 1,896,458 3,011,734

Commonly Used Ratios For Financial Analysis: Current Ratio Debt to Asset Ratio Debt to Equity Ratio
Cost Basis 1.03 0.3365 0.5071
Market Value 1.03 0.4138 0.7059
Current and Non Current Deferred Tax Calculations
Case Farm Ranch December 31, 1996
Current Portion of Deferred Taxes @ Market Value
Market Cost or Tax
Current Assets Value Basis
Prepaid Expenses (Sch. B) 5200 0
Growing Crops (Sch. C) 28149 0
Accounts Receivable (Sch. D) 0 0
Notes Receivable (Sch D) 0 0
Government Payments Receivable (Sch D) 0 0
PIK Certificates (Sch E) 0 0
Securities Readily Marketable, Farm (Sch. F) 0 0
Crops For Sale & Feed (Sch. G) 165571 0
Crops Under Gov. Loan (Sch. H) 57000 49000
Value of Lvstck Held for Sale (Sch I) 0 0
Futures or Options Account Equity (Net Equity) 0 0
Other 0 0
Other 0 0
Total Market Value 255920
Total Tax Basis Value 49000
Excess of Market Value Over Tax Basis 206920

Deductions (Liabilities that result in tax deductions when paid)

Farm Accounts Payable (Sch. O) 0
Accrued Interest (Schedules O,P,Q,R,S) 9531
Personal property taxes (Sch T) 4000
Real estate Taxes (Sch T) 4750
Accrued Lease Payments (Land Only) (Sch L) 2000
Other Accrued Expenses 0
Employee Payroll Withholdings (Payroll Taxes) 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Total Deductions 20281

Deferred Income Related to Current Assets & Liabilities 186639

Minus Net Operating Loss Carry Forward 0
Deferred Taxable Income Related to Current Assets & Liabilites 186639

Marginal Estimated
Tax Rate Tax
Federal Marginal Income Tax Rate 28% 52259
State Marginal Income Tax Rate 15% 27996
Local Marginal Income Tax Rate 0% 0
Self Employment Tax Rate (Limited by Max)
Old-age, Survivor, & Disability Portion of SE Tax Rate 12.40%
Medicare (Hospital Insurance) Portion 2.90%
Maximum Dollar Amount for Self Employment Tax 57600 12555

Deferred Tax Estimate on Current Assets & Liabilities (Market) 92810

Cost Tax
Current Assets Value Basis
Prepaid Expenses (Sch. B) 5200 0
Growing Crops (Sch. C) 28149 0
Accounts Receivable (Sch. D) 0 0
Notes Receivable (Sch D) 0 0
Government Payments Receivable (Sch D) 0 0
PIK Certificates (Sch E) 0 0
Securities Readily Marketable, Farm (Sch. F) 0 0
Crops For Sale & Feed (Sch. G) 165571 0
Crops Under Gov. Loan (Sch. H) 57000 49000
Value of Lvstck Held for Sale (Sch I) 0 0
Other 0 0
Other 0 0
Other 0 0
Total Cost/Book Value 255920
Total Tax Basis Value 49000
Excess of Cost/Book Value Over Tax Basis 206920

Deductions (Liabilities that result in tax deductions when paid)

Farm Accounts Payable (Sch. O) 0
Accrued Interest (Schedules O,P,Q,R,S) 9531
Personal property taxes (Sch T) 4000
Real estate Taxes (Sch T) 4750
Accrued Lease Payments (Land Only) (Sch L) 2000
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Other Accrued Expenses 0
Total Deductions 20281

Deferred Taxable Income Related to Current Assets & Liabilities 186639

Minus Net Operating Loss Carry Forward 0
Deferred Taxable Income Related to Current Assets & Liabilites 186639

Marginal Estimated
Tax Rate Tax
Federal Estimated Income Tax Rate 28% 52259
State Estimated Income Tax Rate 15% 27996
Local Estimated Income Tax Rate 0% 0
Estimated Self Employment Tax Rate (Limited)
Old-age, Survivor, & Disability Portion of SE Tax Rate 12.40%
Medicare (Hospital Insurance) Portion 2.90%
Maximum Dollar Amount for Self Employment Tax 57600 12555

Deferred Tax Estimate on Current Assets & Liabilities (Cost) 92810

Noncurrent Portion of Deferred Taxes

Cost
Market or Tax
Total Noncurrent Farm Assets Value Basis
Breeding Stock (Sch J) 332000 320333
Adjust Breeding Lvstk Cost Basis (FFSG) -299000
Farm Machinery & Equipment (Sch K) 400000 418267
Farm Real Estate (Sch L) 1887500 765624
Other Non-Current Assets 0 0
Other Non-Current Assets 0 0
Total Market Value of Noncurrent Assets 2619500
Total Cost or Book Value of Noncurrent Assets 1205224

Excess of Market Value over Tax Basis on Noncurrent Assets 1414276

Deductions-Noncurrent-(Liabilities that result in tax deductions when paid)

Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Other Noncurrent Deductions... 0
Total Deductions for Noncurrent 0

Deferred Income Related to Noncurrent Assets & Liabilities 1414276

Minus Net Operating Loss Carry Forward (Not Used In Current Section) 0
Deferred Taxable Income for Noncurrent Assets & Liabilities 1414276

Marginal Estimated
Tax Rate Tax
Federal Estimated Income Tax Rate 28% 395997
State Estimated Income Tax Rate 15% 212141

Total Deferred Tax Estimate Related to Noncurrent 608139

Assets and Liabilities
 MONTH CHEM QUAN ACRES CPU
Barley 6 2-4-d 1 1090 2.00
W Wheat 5 2-4-d 1 840 4.00
S Wheat 6 2-4-d 1 70 2.00

Total Chemical Costs

Schedule D -- Crop Insurance Cost

Month Per Number
Crop Paid Acre Of Acres
MONTH CPU ACRES
Barley 10 5.00 1090
W Wheat 10 5.00 840
S Wheat 10 5.00 70
Case Farm Ranch
January 2, 1997
MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH MONTH
1 2 3 4 5 6 7 8 9 10 11 12
Minimum cash Bal. Desired 0.00 Enter the desired minimum cash balance at the beginning of each month

Interest rate on operating loan 12.00 Enter the expected interest rate on the operating loan

Beginning cash balance 13000.00 Enter the beginning cash balance, from the beginning balance sheet, if balance sheet completed.

Date Prepared January 2, 1997

January February March April May June July August Sept October November December
Crop Sales Income - Schedule 1 1 2 3 4 5 6 7 8 9 10 11 12 Total
Schedule 1 0 0 45360 0 51750 16000 0 70980 7616 0 0 25000 216706
Other 0
Other 0
Other 0
Other 0
Livestock Sales Income Schedule 2 & 3
Income (Per Head) From Sch. 2 0 0 0 0 0 0 0 0 0 0 0 0 0
Income (Per Cwt) From Sch. 3 0 0 0 0 0 0 0 0 0 131107 0 0 131107
Other 0
Other 0
Other 0
Other 0
Capital Asset Sales - Schedule 4 -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Raised Breeding Lvstk Sch. 4 0 0 0 0 0 0 0 0 0 0 33075 0 33075
Purchased Breeding Lvstk Sch. 4 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Capital Assets Sch. 4 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0
Other 0
Cash From Government Program Payments -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Income From Sch. 5 0 0 0 0 0 0 0 0 0 0 0 15652 15652
Cash From PIK Certs. Sch. 6 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0
Other 0
Cash rents/Leases -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Machinery 0
Land 0
Other 0
Other Sources of $$ -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Patronage refunds 0
Custom work 2200 2200
State gas refund 0
Insurance Paymts 0
Tax refunds 0
Misc. Income 0
Other 0
Other 0
Other 0
Loan Proceeds & Other Inflows -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Operating Loan Advances 6000 15000 21000
Short Term Notes 0
Long Term Loan Advances 0
Other Loan Proceeds & Advances 0
Non Farm Inflows -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Wages, Salaries 0
Other Nonfarm Inflows 0
-----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Total Cash Inflows 0 8200 45360 0 51750 16000 15000 70980 7616 131107 33075 40652 419740

Expense Items From Per Acre and Per Livestock Unit Schedules
Crop Expenses Collected Per Acre: -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Seed Sch. A 0 0 0 7540 0 0 0 0 5040 0 0 0 12580
Fertilizer B 0 0 0 9744 7500 0 0 0 10080 0 0 0 27324
Crop Chemicals C 0 0 0 0 3360 2320 0 0 0 0 0 0 5680
Crop Insurance D 0 0 0 0 0 0 0 0 0 10000 0 0 10000
Water Assessment E 0 0 0 0 0 0 0 0 0 0 0 0 0
Irrigation Energy F 0 0 0 0 0 0 0 0 0 0 0 0 0
Crop Custom Hire G 0 0 0 0 0 0 0 16320 0 0 0 0 16320
Direct Crop Labor H 0 0 0 0 0 0 0 0 0 0 0 0 0
Crop Package and Supplies I 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0
Other 0
Livestock Expenses Collected on a Per Unit Basis: -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Breeding Livestock:
Purchased Feed Sch. J 2116 658 1113 0 0 0 0 0 0 320 1332 2256 7795
Artificial Insem. K 0 0 0 0 0 0 0 0 0 0 0 0 0
Health L 383 98 671 864 1045 0 0 0 0 0 0 0 3061
Supplies M 0 0 0 0 0 0 0 0 0 0 0 0 0
Marketing N 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0
Other 0
Growing and Finishing Livestock -- Per Head & Per Cwt: -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Purchase Cost - Per Head O 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchase Cost - Per Cwt P 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchase Feed Q 0 0 0 0 0 0 0 0 0 0 0 0 0
Health R 0 0 0 0 0 0 0 0 0 0 0 0 0
Supplies S 0 0 0 0 0 0 0 0 0 0 0 0 0
Marketing T 0 0 0 0 0 0 0 0 0 0 0 0 0
Other 0
Other 0
Operating Expenses, Collected at the Whole Farm Level:
Fuel, Oil, Lub 1591 2206 1206 2817 4000 2680 5866 5147 2052 532 135 0 28232
Repairs -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Mach. & Equip. 3503 3057 3636 4763 2652 13512 3067 2783 32 200 78 37283
Bldngs & Impro. 300 400 700
**Hired Labor/Hourly, Salary, Fringe 1000 1000 1000 1000 4000
Farm Taxes -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Real Estate; Property Taxes 4750 4750 9500
Personal Property Taxes 4000 4000 8000
Misc Farm Exp. 0
Farm Insurance 1500 1500 3000
**Utilities 300 345 300 509 600 500 300 370 445 443 300 377 4789
Crop Mrktng & Storage 0
Misc. Farm Exp. 143 71 76 800 2643 1200 4933
Other (Supplies) 134 178 274 271 484 226 3500 122 109 5298
Other 0
Other 0
Planned PIK Cert Pur. Sch. 6 0 0 0 0 0 0 0 0 0 0 0 0 0
Rent/Lease Exp. -----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Land Rent 0
Mach & Building 0
Grazing Fees 4000 8000 12000
**Machine Hire 0
Planned Capital Asset Purchases - Schedule U for Details:
Planned Purchases Sch. U 0 0 0 0 0 0 0 0 0 0 0 8000 8000
Other 0
Other 0
Principal and Interest Payments -- See Schedule V & W for Details:
Loan Payments (Yearly) V 0 0 0 0 0 0 0 0 0 0 0 0 0
Loan Payments (Monthly) W 0 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504
Term Loan Payments 67787 35402 103189
Interest on Term Loans 38120 21920 60040
Operating Loan Payment 12000 12000 24000
Interest on Operating Loan 3000 720 3720
Accounts Payable 0
-----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Total Farm Cash Outflows 9027 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504
Non Farm Expense
Family living 1413 1200 1328 1695 3029 1599 1150 1272 596 2344 2594 1465 19685
Food/Cloths/etc. 0
Rent/Mortgage 0
Auto 0
Other 0
Income & SS 500 500
-----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----
Total Non-Farm Cash Outflows 1413 1200 1328 2195 3029 1599 1150 1272 596 2344 2594 1465 20185

-----J----- -----F----- -----M----- -----A----- -----M----- -----J----- ----JULY--- -----A----- -----S----- -----O----- -----N----- -----D-----

Total Cash Inflows 0 8,200 45,360 0 51,750 16,000 15,000 70,980 7,616 131,107 33,075 40,652 A

Total Cash Outlays 10,440 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 B

Surplus or Deficit (A-B) -10,440 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 C

Begining Cash Bal. (From Row H) 13,000 2,560 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 D
(Except for First Month)

Cash Available (C + D) 2,560 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 E

Borrow to Maintain (Min + E) 0 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 F
Balance B.O.M.

Payment on (Only If Row F = 0) 0 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 G
operating loan (Pay Interest First)

Balance E.O.M. (If Row F > 0, Min.) 2,560 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 H
Otherwise (Row E - G)

Accumulated Operating 0 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 I
Loan (See Below)

Operating Loan Interest (I * Int.) 0 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 J
This Month

Accumulated Interest (Prev. K + J) 0 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 Err:504 K
On operating Loan

Accumulated Operating Loan: Line I

If Line E is > Min. Balance Desired, You Can Make a Payment
Adjust Line E, by Taking out the Min. Balance Desired
Pay the Accumulated Interest First, Line K
After Paying the Accumulated interest, Pay All or Part of the Outstanding Operating Loan

** Do not include expenses in these items that have already been

included in the crop and livestock expenses which were entered
in the schedules on a per acre or per head basis. Example would
be "Hired Labor" and "Direct Crop Labor" in Schedule H.
Capital Gain/Loss (Not Ordinary Course of Business) Basis Sales Price Sales Price Minus Basis
G or L on Purchased Breeding Lvstk 0 0 0 0
G or L on Machinery & Equipment 0 0 0 0
G or L on Brdng Lvstck Not Capitalized or Depreciated 0 0 -----NA----- 0
Net Farm Income or Loss #VALUE! 39,676
Taxes
Cash Income Taxes Paid 0 0
Cash Self Employment Taxes Paid 500 500
------Accounts------ -----NA----- -----NA-----
Tax Adjustments -- Liability Side of Balance Sheet Begining (-) Ending (+) -----NA----- -----NA-----
Accrued Income Taxes - Increase (Decrease) 0 0 -----NA----- 0
Accrued Soc. Security Taxes - Increase (Decrease) 0 0 -----NA----- 0
Current Deferred Taxes - Increase (Decrease) 111,492 92,810 -----NA----- (18,682)
Total Taxes and Tax Adjustments 500 (18,182)
Income After Taxes - Before Extraordinary Items #VALUE! 57,858
Extraordinary Items (Net of Taxes) 0 0
Net Income After Extraordinary Items #VALUE! 57,858
 Statement of Cash Flows
Name Case Farm Ranch For 12 month Period Ending
Address Phone

Cash Flows From Operating Activities:

Cash received from farm operations:
Market Livestock & Poultry Sales 131,107
Crop and feed sales 216,706
Custom work income 0
Livestock & poultry products 0
Government payments, cash and certificates 15,652
Hedging account withdrawals 0
Patronage dividends (cash only) 0
Other revenues 2,200
Subtotal cash received from farm operations 365,665 1 +
Cash received from non-farm income and operations:
Wages 0
Royalities 0
Interest and dividends 0
Other revenue 0
Cash income from other entities, farms, businesses & real estate 0
Subtotal cash received from non-farm income & operations 0 2 +
Cash paid for farm operating activities:
Market livestock and poultry 0
Feed purchased 7,795
Operating expenses 192,700
Interest expense 63,760
Hedging account deposits 0
Subtotal cash paid for farm operating activities (264,255) 3
Cash expenses paid in non-farm operations (other entities, farms, businesses) 4 - 0
Income and social security taxes paid in cash 5 - 500
Extraordinary items received or paid in cash (Enter a negative number as a negative) 6 +/- 0
Net Cash Income: (add lines 1 through 6) 7 100,910
Cash withdrawals for family living 8 - 19,685
Cash withdrawals for investments into personal assets 9 - 0
Net Cash Provided by Operating Activities: (line 7 - line 8 & 9) 10 81,225
Cash Flows From Investing Activities:
Cash received form the sale of:
Raised breeding & dairy livestock, not capitalized and not depreciated 11 + 33,075
Purchased &raised breeding/dairy livestock, capitalized and depreciated 12 + 0
Machinery and equipment 13 + 0
Farm real estate; Other farm assets 14 + 0
Bonds and securties; investments in other entities; other non-farm assets 15 + 0
Cash paid to purchase:
Breeding and dairy livestock 16 - 8,000
Machinery and equipment 17 - 0
Farm real estate and other farm assets 18 - 0
Capital leases 19 - 0
Bonds and securities; investments in other entities; other non-farm assets 20 - 0
Net Cash Provided by Investing Activities: (add lines 11 through 20) 21 25,075
Cash Flows From Financing Activities:
Operating and CCC loans received (include interest paid by loan renewal) 22 + 21,000
Term debt financing (loan proceeds) 23 + 0
Cash received from gifts, inheritances and paid-in capital 24 + 0
Personal investments of cash added into business assets 25 + 0
Operating debt principal payments (include repayment of CCC loans) 26 - 24,000
Term debt principal payments: Scheduled Payments 27 - Err:504
Unscheduled payments 28 - 0
Principal portion of payments on capital leases 29 - 0
Cash distribution of dividends, capital, or gifts 30 - 0
Net Cash Provided by Financing Activities: ( add lines 22 through 30) 31 Err:504
Net Increase (Decrease) in Cash and Cash Equivalents (add lines 10, 21 & 31) 32 Err:504
Cash and cash equivalents reported on the beginning of year Balance Sheet 33 34,200

Cash and cash equivalents, as calculated at the end of the year (line 32 + 33) 34 Err:504
Cash and cash equivalents reported on the end of year Balance Sheet 35 34,314
Discrepancy in cash and cash equivalents as calculted and reported (line 34 minus 35) 36 Err:504
 Case Farm Ranch Year 1996
This statment reconciles against the net worth of the business only. Cost or Market
Persoanl (Non-Farm) Assets and Liabilities are ignored. Book Value
Change Due to Retained Earnings
Net Income After Extraordinary Items (Accrual Adjusted) 1 57,858 57,858

Cash Owner Withdrawals (Net of Income & SS Taxes) 2 19,685 19,685

Farm Product Consumption 3 0 0
Unaccounted for Cash Withdrawals 4 0 0
Total Change in Equity From Retained Earnings 5 38,173 38,173

Change Due to Capital Contributions - Distributions

Capital Contributins-Gifts Received-Inhertiance
Cash 6 0 0
Marketable Securities 7 0 0
Nonmarketable Securties 8 0 0
Breeding Stock 9 0 0
Machinery & Equipment 10 0 0
Real Estate, Buildings & Improvements 11 0 0
Other Farm Assets 12 0 0
Other Farm Assets 13 0 0
Other Farm Assets 14 0 0
Total Capital Contributions 15 0 0

Capital Distributions-Gifts Given-Dividends

Cash 16 0 0
Marketable Securities 17 0 0
Nonmarketable Securties 18 0 0
Breeding Stock 19 0 0
Machinery & Equipment 20 0 0
Real Estate, Buildings & Improvements 21 0 0
Other Farm Assets 22 0 0
Other Farm Assets 23 0 0
Other Farm Assets 24 0 0
Total Capital Distributions 25 0 0

Total Change in Equity Due to

Contributed-Distributed Capital 26 0 0

Change in Equity Due to:

Valuation Change in Farm Assets 27 30,842
Valuation Chane in Nonfarm Capital Assets 28 0
Valuation Change in Nonfarm Liabilities 29 0
 For: Case Farm Ranch Year 1996
Beginning Valuation Equity
From Beginning Balance Sheet:
Total Current Assets
Market Value 1 334,497
Cost or Book Value 2 334,497
Difference 3 0

Total Noncurrent Assets

Market Value 4 2,620,500
Cost or Book Value 5 1,559,332
Difference 6 1,061,168

Nonfarm Liabilities 7 0

Noncurrent Portion of Deferred Taxes 8 584,872

Total Beginning Valuation Equity 9 476,296

Ending Valuation Equity

From Ending Balance Sheet:
Total Current Assets
Market Value 10 290,234
Cost or Book Value 11 290,234
Difference 12 0

Total Noncurrent Assets

Market Value 13 2,628,500
Cost or Book Value 14 1,513,224
Difference 15 1,115,276

Nonfarm Liabilities 16 0

Noncurrent Portion of Deferred Taxes 17 608,139

Total Ending Valuation Equity 18 507,137

Change in Valuation Equity

Total Ending Valuation Equity 19 507,137
Minus:
Total Beginning Valuation Equity 20 476,296

Total Change in Valuation Equity 21 30,842

Repayment Capacity Cost Basis
Term Debt and Capital Lease Coverage Ratio
Net Farm Income From Operations 39,676
+ Total Non-Farm Income 0
+ Depreciation/Amortization Expense 54,108
+ Interest on Term Debt 60,040
+ Interest on Capital Leases
- Total Income Tax Expense (18,182)
- Owner Withdrawals 19,685 $152,321.22
Divided by
Annual Scheduled Principal and Interest Payments on Term Debt 163,229
+ Annual Scheduled principal and Interest Payments of Capital Leases 0 $163,229.00
Ratio Value 0.93
Capital Replacement and Term Debt Repayment Margin
Net Farm Income From Operations 39,676
+ Total Non-Farm Income* 0
+ Depreciation/Amortization Expense 54,108
- Total Income Tax Expense (18,182)
- Owner Withdrawals 19,685
= Capital Replacement and Term Debt Repayment Capacity 92,281
- Payment on Unpaid Operating Debt From Prior Year 0
- Principal Payments on Current Portions of Term Debt 103,189
- Principal Payments on Current Portions of Capital Leases 0
- Total Annual Payments on Personal Liabilities (if Not in Withdrawals)* 0
= Capital Replacement and Term Debt Repayment Margin ($10,907.78)

* To evaluate for the business only, do not include items marked with an *

Financial Efficiency
Asset Turnover Ratio
Gross Revenues 342,048
divided by Average Total Farm Assets 1,848,644 0.1850
Operating Expense Ratio
Total Operating Expense 239,088
- Depreciation & Amortization Expense 54,108
Divided by Gross Revenues 342,048 54.08%

Depreciation Expense Ratio

Depreciation & Amortization Expense 54,108
divided by Gross Revenues 342,048 15.82%

Interest Expense Ratio

Total Farm Interest Expense 63,284
divided by Gross Revenues 342,048 18.50%

Net Farm Income From Operations Ratio

Net Farm Income From Operations 39,676
divided by Gross Revenues 342,048 11.60%
100.00%
Repayment Capacity Market Value
Term Debt and Capital Lease Coverage Ratio
Net Farm Income From Operations 39,676
+ Total Non-Farm Income 0
+ Depreciation/Amortization Expense 54,108
+ Interest on Term Debt 60,040
+ Interest on Capital Leases
- Total Income Tax Expense (18,182)
- Owner Withdrawals 19,685 $152,321.22
Divided by
Annual Scheduled Principal and Interest Payments on Term Debt 163,229
+ Annual Scheduled principal and Interest Payments of Capital Leases 0 $163,229.00
Ratio Value 0.93
Capital Replacement and Term Debt Repayment Margin
Net Farm Income From Operations 39,676
+ Total Non-Farm Income* 0
+ Depreciation/Amortization Expense 54,108
- Total Income Tax Expense (18,182)
- Owner Withdrawals 19,685
= Capital Replacement and Term Debt Repayment Capacity 92,281
- Payment on Unpaid Operating Debt From Prior Year 0
- Principal Payments on Current Portions of Term Debt 103,189
- Principal Payments on Current Portions of Capital Leases 0
- Total Annual Payments on Personal Liabilities (if Not in Withdrawals)* 0
= Capital Replacement and Term Debt Repayment Margin ($10,907.78)

* To evaluate for the business only, do not include items marked with an *

Financial Efficiency
Asset Turnover Ratio
Gross Revenues 342,048
divided by Average Total Farm Assets 2,936,866 0.1165
Operating Expense Ratio
Total Operating Expense 239,088
- Depreciation & Amortization Expense 54,108
Divided by Gross Revenues 342,048 54.08%

Depreciation Expense Ratio

Depreciation & Amortization Expense 54,108
divided by Gross Revenues 342,048 15.82%

Interest Expense Ratio

Total Farm Interest Expense 63,284
divided by Gross Revenues 342,048 18.50%

Net Farm Income From Operations Ratio

Net Farm Income From Operations 39,676
divided by Gross Revenues 342,048 11.60%
100.00%
The print macros in this worksheet are set up for use with an injet or laser jet printer.
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