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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
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
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
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
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
Marginal Estimated
Tax Rate Tax
Federal Estimated Income Tax Rate 28% 380847
State Estimated Income Tax Rate 15% 204025
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
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
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
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
Marginal Estimated
Tax Rate Tax
Federal Estimated Income Tax Rate 28% 395997
State Estimated Income Tax Rate 15% 212141
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.
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
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
Nonfarm Liabilities 7 0
Nonfarm Liabilities 16 0
* 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%
* 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%