ACCRUED INCOME STATEMENT

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Erin Daniels
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Iowa Farm Business Association ACCRUED INCOME STATEMENT IOWA STATEWIDE Page: 1 Size 1 Avg Size 2 Avg Size 3 Avg Size 4 Avg Size 5 Avg Group Avg 144 Farms 109 Farms 188 Farms 219 Farms Farms 72 Farms

1 Iowa Farm Business Association ACCRUED INCOME STATEMENT IOWA STATEWIDE Page: 1 Size 1 Avg Size 2 Avg Size 3 Avg Size 4 Avg Size 5 Avg Group Avg 144 Farms 109 Farms 188 Farms 219 Farms Farms 72 Farms 101 Accrued Net Farm Income $ 5,35 107,149 15, ,02 402,11 177, Accrued Net/Operator $ 53, , , ,34 305,053 13, Sources of Cash Income 105 Corn $ 45,59 93,41 138,4 241,311 47,95 175, Soybeans $ 33,872 7, ,800 15, ,59 118, Other Crop $ 3,543 3,198 2,204 3,54 3,847 3, Hogs $ 74,82 91,924 94, , , ,3 109 Cattle $ 39,547 77,79 79, ,85 33,99 105, Other Livestock $ 1,224,140 4,177 4, , Miscellaneous $ 15,272 20,239 31,78 53,272 89,71 38, Total Cash Farm Incomes $ 213,980 30, ,41 715,11 1,414,809 8, Accrued Incomes $ 77 1,09 1,091 1,407,05 1, 114 Food from Farm $ Inventory Increase $ 27,484 1,44 82, ,020 2,24 103,85 11 Total Business Credits $ 242, , ,982 84,73 1,7,710 4, Expenditures 119 Machine & Equipment Repairs $,771 12,328 15,874 23,73 38,98 17, Fuel & Oil Farm Use $,572 11,493 14,427 23,571 44,875 17,9 121 Power & Machine Hire $ 4,903,79 7,422 10,883 14,821 8, Owned Truck $ 1,911 2,37 3,358 4,9,343 3, Auto Expense Farm Share $ ,25 1,041 1,72 1, Utilities Farm Share $ 4,202 5,398 5,4 7,458 14,40, Labor Hired $ 3,980 4,395,597 12,77 45,02 11, Livestock Expense $ 9,185 9,132 9,5 13,833 38,522 13, Crop Expense $ 1,74 34,313 49,2 83, ,898 0, Fertilizer & Lime $ 12,081 22,208 33,24 58,37 110,312 41, Miscellaneous Expense $ 2,43 3,780 4,902,74 11,41 5, Rent $ 13,859 27,481 42,534 83, ,895 59, Taxes $ 3,03 4,294 5,79 7,510 10,18 5, Interest $ 8,09 1,537 20,11 32,970 58,975 24, Insurance $ 5,500 8,057 11,90 19,544 34,242 14, Building & Improvement Repairs $ 2,853 3,054,077,847 15,99, Total Feed Bought $ 33,048 2,807 41,877 7, ,201 0, Hogs Bought $ 15,127 34,571 20,971 33,79 59,147 29, Cattle Bought $ 10,875 19,21 38,983, ,24 51, Other Livestock Bought $ , Beans Bought from Seal $ ,38 2,447 10,287 2, Total Cash Expense $ 13,22 290, ,13 5,938 1,181, , Economic Depreciation $ 13,239 19,099 30,09 43,18 78,353 33, Inventory Decrease & Mach Value$ 9,24 5,811 9,072 10,752 14,228 9, Accrued Expenses $ (703) (173) (110) 144 Total Business Debits $ 185, ,95 381,574 21,134 1,274,594 48, Accrued Net Farm Income $ 5,90 10,982 15,03 242, , ,01 14 Less 4% Charge on Equity $ 15,38 25,799 42,397,08 83,243 42, Less Unpaid Family Labor $ 14,244 19,52 19,981 22,930 2,802 20, Management Return $ 27,024 1,20 93,8 14, ,12 115, Total Cash Farm Incomes $ 213,980 30, ,41 715,11 1,414,809 8, Less Cash Farm Expenses $ 13,22 290, ,13 5,938 1,181, , Plus Loans Received $ 4, ,98 121, , ,803 1, Less Loan Payments $ 3, , , ,57 282, , Total Farm Cash Flow $ 51,797 73,08 113,110 1, , ,133 1 Plus Non Farm Incomes $ 27,835 14,084 19,099 1,3 10,444 18, Remaining Cash Available $ 79,33 87, , ,575 30,41 147, Non Farm Income % Cash Available

2 Iowa Farm Business Association FINANCIAL ANALYSIS DATA IOWA STATEWIDE Page: 2 Size 1 Avg Size 2 Avg Size 3 Avg Size 4 Avg Size 5 Avg Group Avg 144 Farms 109 Farms 188 Farms 219 Farms Farms 72 Farms 201 Accrued Net Farm Income $ 5,35 107,149 15, ,02 402,11 177, Management Return $ 27,024 1,20 93,8 14, ,12 115, Gross Profits/Man Year Equivalent $ 274,38 30,83 388, ,87 9,95 427, Gross Profits/$ Expense $ Return on Capital-Unpaid Labor $ GVC - Fert & Crop Expense/OCA $ Livestock Prod/$100 Feed Fed $ Mach & Pwr Cost-75% Cust/OCA $ Mach & Pwr Investment/OCA $ Months of Labor MO Operator Age YR Gross Profits $ 173,3 298,23 424,58 83,10 1,24,90 510, Total Crop Production $ 118, ,03 348, ,4 1,074,81 421, Livestock Prod/Feed Cost $ 39,20 45,495 45,57 54, ,138 52, Income Other Sources $ 14,18 1,78 2,314 44,904 83,59 33, Crop Marketing & Inventory +or- $ 2,001 (3,7) 3,84 7,151 1,483 3, Number of Farms Feeding Livestock $ 25,572 50,219 2,75 112, ,208 84, Corn $,172 10,120 17, , ,15 205,3 222 Beans $ 23,845 5,578 9, ,12 252, , Other Feedstuffs $ 4,988 11,74 9,13 10,33 21,95 10, Prepaid Expense & Supplies $ 2,399 42,129 74,422 95,50 187,918 78, Farm Short Term Assets $ 135,97 2, ,449 5,127 1,172,29 487, Breeding Livestock $ 14,90 21,10 20,35 1,181 72,234 23, Mach & Equip Value $ 80,85 134, ,127 30, , , Farm Intermediate Assets $ 95,374 1, , ,2 570, , Bare Land Value $ 30, ,74 72, ,225 1,175, , Improvement Econ Value $ 50,778 50,794 84, , ,183 94, Total Farm Assets $ 588, ,458 1,445,851 1,974,279 3,140,30 1,539, Operator Notes 39,288 70,857 91, , , , Accrued Accts Payable $ ,801 3,449 9,988 2, Int & Long Term Due in 12 Mo $ 915 1,829 2,480,2 13,388 4, CCC Loans $ 1,433 3,929 9,183 1,130 50,129 13, Short Term Liabilities $ 42,073 77, , ,59 392,79 141, Intermediate Notes $ 1,21 3,044 44,531 73,98 145,185 5, Long Term Land & Imprv Notes $ 5, ,59 132, , ,439 1, Total Farm Liabilities $ 124, , , , ,302 34, Net Farm Worth $ 44, 719,352 1,14,00 1,502,709 2,222,058 1,174, Personal Net Worth $ 130,194 72,237 18, , ,805 15, Total Net Worth $ 594, ,590 1,350,994 1,73,3 2,432,83 1,331, Net Worth Change for Year $,888 81, , , ,19 152, Liquidity Measurement 245 Current Ratio CA/CL Current Debt Ratio CL/TL Solvency Measurement 248 Leverage Ratio TL/NW Debt to Asset Ratio TL/TA Equity Value Ratio NW/TA Profitability Analysis 252 Return on Equity (NFI-UL)/NW Return on Investment (NFI+IN-UL)/TA Profit Margin (NFI+IN-UL)/GP Gross Income Ratio TE/TCI Turnover Ratio GP/TA Expense Structure FE/TE

3 IOWA STATEWIDE Page: 1 GENERAL CROP INFORMATION 2 Total Value Production 123, ,03 348, ,4 1,074,81 425,217 3 % of Total Gross Profit Owned Acres: Total, Rotated Rented Acres: Total, Rotated CORN - FEED ENTERPRISE (10) 8 Number of Farms Operator Bushel Equivalent 19,10 3,821 54,950 94,10 177,720 9,88 10 Operator Share of Acres , Yield/Acre Crop Value/Acre Insurance & Other Value 1,134 (722) 4,380 5,30 9,95 3,88 14 Total "Net" Crop Value/Acre Total Allocated Costs 58, ,525 10,48 29, , ,878 1 Net Crop Return 14,1 27,949 45,3 83, ,811 59,22 17 Net Crop Return/Acre Bushels Sold 14,7 27,157 42,33 75, ,918, Average Selling Price/Bushel $/Bu $/A $/Bu $/A $/Bu $/A $/Bu $/A $/Bu $/A $/Bu $/A 22 Seed Insecticide Herbicide Fertilizer & Lime Drying & Storage Other Crop Expense Cash Mach & Equip Cost Miscellaneous Utilities Rent Property Tax & Building Repair Interest Insurance Labor Hired Irrigation Total Cash Expense Mach & Equip Depreciation Bldg & Imprv Depreciation Unpaid Labor Expenses Equity Charge Total Economic Cost Family Living Expense Principal Payments Total Cash Flow Cost Corn Expense as % Total Expense Corn Labor as % Total Labor Return to Capital (%) Return to Hour Labor ($/Hr)

4 IOWA STATEWIDE Page: 9 1 GENERAL CROP INFORMATION 2 Total Value Production 123, ,03 348, ,4 1,074,81 425,217 3 % of Total Gross Profit Owned Acres: Total, Rotated Rented Acres: Total, Rotated SOYBEANS - COMMERCIAL ENTERPRISE (20) 8 Number of Farms Operator Bushel Equivalent 4,878 8,13 12,27 21,282 3,501 15, 10 Operator Share of Acres Yield/Acre Crop Value/Acre Insurance & Other Value 1,80 2,445 7,789 11,941 12,70 7, Total "Net" Crop Value/Acre Total Allocated Costs 3,113 2,243 93, ,417 25, ,898 1 Net Crop Return 11,708 24,953 39,210, ,29 48, Net Crop Return/Acre Bushels Sold 5,321 9,2 14,398 22,78 38,977 1,9 20 Average Selling Price/Bushel $/Bu $/A $/Bu $/A $/Bu $/A $/Bu $/A $/Bu $/A $/Bu $/A 22 Seed Insecticide Herbicide Fertilizer & Lime Drying & Storage Other Crop Expense Cash Mach & Equip Cost Miscellaneous Utilities Rent Property Tax & Building Repair Interest Insurance Labor Hired Irrigation Total Cash Expense Mach & Equip Depreciation Bldg & Imprv Depreciation Unpaid Labor Expenses Equity Charge Total Economic Cost Family Living Expense Principal Payments Total Cash Flow Cost Soybean Expense as % Total Expense Soybean Labor as % Total Labor Return to Capital (%) Return to Hour Labor ($/Hr)

5 IOWA STATEWIDE Page: 24 1 GENERAL LIVESTOCK AVERAGE 2 Total Livestock Value Increase 1, ,510 22, ,530 25, ,995 3 Total Feed Fed to Livestock 101,44 159,49 149,092 24,33 449, ,010 4 Feed Return/$100 Feed Fed Purchased as % of Total Feed HOG - FARROW TO FINISH ENTERPRISE (0) 8 Number of Farms Total Value of Production 143, ,08 251,407 40, , , Cwt Produced 3,417 4,077 5,27 10,443 5,375,8 11 Value/Cwt Produced Purchased Feed Fed 75,27 59,011 8, ,730 8, ,3 13 Raised Feed Fed 43,973 82,952 83,833 8,740 84,75 9, Feed Cost/Cwt of Production Feed Lbs/Lb Gain Feed Return/$100 Feed Fed $/Cwt $/Sow $/Cwt $/Sow $/Cwt $/Sow $/Cwt $/Sow $/Cwt $/Sow $/Cwt $/Sow 18 Cash Mach & Equip Cost Rent & Miscellaneous Utilities Livestock Health Livestock Supply/Bedding Property Tax & Building Repair Interest Insurance Labor Hired Total Cash Expense Mach & Equip Depreciation Bldg & Imprv Depreciation Unpaid Labor Charge Equity Charge Total Econ Cost w/ Feed Family Living Costs Principal Payments Total Cash Flow Cost w/ Feed Misc. Production and Marketing Data 38 Sows Farrowed, Pigs Weaned Weaning Average Death Loss Weight % Average Sow Units Number Feeder Purchased Avg Feeder Purchase Wt/Head Average Feeder Price/Head No. Market Fat/Feeder Sold Avg Market Fat/Feeder Weight Avg Market Fat/Feeder $/Cwt No Brdg Sold, Avg Wt Average Breeding Selling Price/Cwt Hogs Produced/Sow Unit Hogs Produced/Crate Breeding Stock Inventory Change (12) 11 9 (7) (154) (17) 53 Swine Enterprise Net (50,383) (107,304) (3,45) (49,748) (30,334) (49,043) 54 Average Feed Cost/Cwt Return to Capital (%) (10.22) (1.53) (1.32) 57 Return to Hour Labor ($/Hr) (30.29) (8.91) (23.41) (40.90) (30.37)

Cash Flow Projection

Name Address City, State Preparer Cash Flow Projection Farm Financial Planning Input Forms Farm No. (3 digit) Beginning Cash Flow Date Version 1 Month Year The Cash Flow Projection Program is designed