• TABLE OF CONTENTS
HIDE
 Front Cover
 Copyright
 Table of Contents
 List of Figures
 Introduction
 Overview
 Data required for beefloan...
 Income, expenses, and net worth...
 Making changes
 Cost recovery
 Output
 Strategies
 Summary
 Reference
 Appendix A: Compatible compute...
 Appendix B: Input needed
 Appendix C: Sample output
 Back Cover






Group Title: Computer series
Title: Beefloan
CITATION THUMBNAILS PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/UF00095226/00002
 Material Information
Title: Beefloan a microcomputer ranch financial analysis
Series Title: Computer series - Florida Cooperative Extension Service ; 624
Alternate Title: Microcomputer ranch financial analysis
Physical Description: 1 computer disk + : ;
Language: English
Creator: Alderman, Rom
Simpson, James R.
Carlton, Will
Publisher: Florida Cooperative Extension Service, Institute of Food and Agricultural Sciences, University of Florida
Place of Publication: Gainesville, Fla.
Publication Date: 1984
Copyright Date: 1984
 Subjects
Subject: Farm management -- Computer programs   ( lcsh )
Beef cattle -- Cow-calf system -- Computer programs   ( lcsh )
Beef cattle -- Economic aspects -- Computer programs   ( lcsh )
BEEFLOAN (Computer program)   ( lcsh )
Genre: bibliography   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
non-fiction   ( marcgt )
 Notes
Bibliography: Bibliography: p. 17.
General Note: Cover title.
General Note: "September 1984."
Statement of Responsibility: Rom Alderman, James R. Simpson and Will Carlton.
 Record Information
Bibliographic ID: UF00095226
Volume ID: VID00002
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: oclc - 15147226

Table of Contents
    Front Cover
        Front cover
    Copyright
        Copyright
    Table of Contents
        Page i
    List of Figures
        Page ii
    Introduction
        Page 1
        Page 2
    Overview
        Page 3
    Data required for beefloan projections
        Page 4
        Page 5
    Income, expenses, and net worth - the main module
        Page 6
        Page 7
    Making changes
        Page 8
    Cost recovery
        Page 9
    Output
        Page 10
        Page 11
        Page 12
        Page 13
    Strategies
        Page 14
        Page 15
    Summary
        Page 16
    Reference
        Page 17
    Appendix A: Compatible computers
        Page 18
        Page 19
    Appendix B: Input needed
        Page 20
        Page 19a
        Page 20
        Page 21
        Page 22
        Page 23
        Page 24
        Page 25
        Page 26
        Page 27
        Page 28
    Appendix C: Sample output
        Page 28a
        Page 29
        Page 30
        Page 31
        Page 32
        Page 33
        Page 34
        Page 35
        Page 36
        Page 37
        Page 38
        Page 39
        Page 40
        Page 41
        Page 42
        Page 43
        Page 44
        Page 45
        Page 46
        Page 47
        Page 48
        Page 49
        Page 50
        Page 51
        Page 52
        Page 53
        Page 54
        Page 55
        Page 56
        Page 57
        Page 58
        Page 59
        Page 60
        Page 61
    Back Cover
        Page 62
        Page 63
Full Text
0fo1
C.24
September 1984





Beefloan


Disk(s) under separate cover
Circular 624





: A Microcomputer Ranch

Financial Analysis


COMPUTER SERIES

Rom Alderman, James R. Simpson, and Will Carlton


/ Institute of Food and Agricultural Sciences / University of Florida / John T.Woeste, Dean





















The use of trade names in text or photographs in this publication
is solely for the purpose of providing specific information. It
is not a guarantee, warranty, or endorsement of the products named
and does not signify that they are approved to the exclusion of
others.









TABLE OF CONTENTS

Page

LIST OF FIGURES ................................................. ii

INTRODUCTION .......................... ..*....*************

OVERVIEW ......... ...... ................. ..... .....************ 3

DATA REQUIRED FOR BEEFLOAN PROJECTIONS .............4 ........... 4

INCOME, EXPENSES, AND NET WORTH-THE MAIN MODULE ............ 6
MAKING CHANGES .............................................. 8
COST RECOVERY ...................** .......... ............. 9
LOANS ....................* ...........* ************ 9

OUTPUT ....................................... .....************** 10

STRATEGIES .............. ................. .****************** 14

SUMMARY ......................................................... 16

REFERENCES ...................................................... 17

APPENDIX A: COMPATIBLE COMPUTERS ........................... 18

APPENDIX B: INPUT NEEDED .............*......................... 20

APPENDIX C: SAMPLE OUTPUT ...................................... 29























UNIVRSIt OF FLORIDA LIBRARIES









LIST OF FIGURES


Page


Figure 1 BEEFLOAN menu flowchart ..............................















BEEFLOAN: A MICROCOMPUTER RANCH FINANCIAL AN!AYSIS


Rom Alderman, James R. Simpson and Will Carlton


Cow/calf operators are continuously faced with long-term planning

problems due to calving intervals being about one year in length. In

addition, forage establishment, facilities development, and changes in

the breeding herd are long-term in nature. Consequently, even though

there are a multitude of short-term decisions which managers continu-

ously make, there is need for a long-term ranch analysis program.


INTRODUCTION


The techniques such as linear programming for optimizing resource

use are well known, and a variety of computer programs applicable to

ranching operations are 'available. However, it appears that most

ranchers, and the financial institutions with whom they deal, are more

concerned with fulfilling some personally devised ranch.plan than with

optimizing resource use. Furthermore, the questions often revolve

around a variety of "what if" type of questions better handled by a

simulation technique.






Rom Alderman is an Economic Analyst and James R. nmposon is a Professor,
Food and Resource Economics Department, University of Florida. Will
Carlton is a former student in the Department.











The program documented in this report--BEEFLOAN--is an interactive

simulation program using an electronic spreadsheet which allows the user

to project income, expenses, loans and repayments, income taxes, net

worth, and financial ratios for cow/calf operations for periods of up to

10 years. The program will be most useful for lending officers at

various financial institutions as well as ranchers who wish to evaluate

the financial profitability of a firm based on a set of assumptions

rather than an optimized forecast of future conditions. It is written

with the intention of evaluating the economic impact, from changes in

long-term prices and various management strategies and is designed to

account for some of the major management and income tax details.. Annual

budget planning can also be accomplished with the program by only enter-

ing, or analyzing data for the first three to four years... Finally, non-

cow/calf income and expenses can be included in the program to provide a

whole-firm analysis,

The original BEEFLOAN program, developed by James R. Simpson and

Rom Alderman (1982), was in FORTRAN. The current version is intended to

run on many MS-DOS compatible computers (Appendix A). A minimum system

configuration like the following is needed in order to run the program:

MS-DOS compatible computer (with at least 256K memory for
DOS 1.X and 320K for DOS 2.0 for which LOTUS is available
LOTUS Development Corp. 1-2-3 software package (Version IA,)
winter,;.;ainter (preferably with graphics capability)

LOTUS 1-2-3 was chosen as the software program primarily because

most lending institutions would probably have a need for some ty. e of

spreadsheet software package. 1-2-3 provides its users with an excel-

lent tool for financial analysis on its own; when it is combined with











BEEFLOAN it becomes a powerful projection tool. Graphing is also a

standard feature of 1-2-3. Much of the financial data that the program

generates can be understood much easier when they are interpreted in

graphical form. It was the intention of the authors to provide a simple

and understandable program for use by both bankers and farmers alike.


OVERVIEW


LOTUS 1-2-3 is a spreadsheet software package written by LOTUS

Development Corporation, which combines state-of-the-art graphics and

information management capabilities with a highly advanced electronic

worksheet. Little or no programming knowledge is required in order to

use 1-2-3. The BEEFLOAN program requires no previous experience with

microcomputers or programming skills, but familiarization with 1-2-3,

the computer and the basic operation of the keyboard would be benefi-

cial. Since BEEFLOAN is menu driven, data entry and printed reports are

easy to accomplish. The only thing that must be done by the user is

supplying needed data and initiating the program.

Program startup is an easy process that simply .requires you to

insert your 1-2-3 program diskette in the first drive (A:) and the

BEEFLOAN diskette into the second disk drive (B:). After this is accom-

plished you may turn on your computer and the loading process will

begin. The first time this program is used, a copy of the BEEFLOAN

diskette should be made for general use, and the original kept as a

backup copy. The original diskette will give a write protect error if

you try to save a file on it. Thz Pasiest way to perform this backup is











to insert your 1-2-3 Utility diskette, turn your machine on, and select

the Disk Manager option followed by the Diskcopy option.

After the backup is completed, put the 1-2-3 System diskette in

drive A, leave the disk you just copied to in drive B, and select the

1-2-3 option. When the program is loaded, the title page and main menu

will appear on the screen. iou are now ready to begin using BEEFLOAN.


DATA REQUIRED FOR BEEFLOAN PROJECTIONS


The ease of data entry and report generation is partially due to

menus, which are analogous to ones from a restaurant where there are

always several things from which to choose. You simply make a selection

and then tell the waiter (or computer) which one you want. In this case

the BEEFLOAN selection is made by typing the first letter of the option

desired, or by moving the cursor to that option and pressing the Enter

key. The menu items and options are given in Figure 1.

The title page menu allows you to load the module you wish to begin

working with: the MAIN, the COST RECOVERY, or the LOAN. Upon selecting

one of these options, the cursor will position itself on the year, so

that the.base of the analysis may be changed, if desired. To continue,

as will be the case throughout the program, press the return key without

typing an entry. All the base data entered use a series of range inputs

which are ended by this no-entry return.

It is generally a good idea to fill out a form (Appendix B) that

lists all of the information required for the BEEFLOAN program prior to

beginning work at the computer. Most of this information can be












FIGURE #1 BEEFLOAN Menu Flowchart


MAIN MENU


ENTER ANALYZE GRAPM PRINT COST LOAN SUIT
Sa a I
OTHER nODULE'S MAN MENUS(BELOWj


RECEIPT ALL BIGFOUR EXPENSE INCOME NETWORTH RATIO OTHER




PRICES LOANS EARNrINGS COST RATIOS SAVE QUIT


INCOME NETWORTH RATIOS RECEIPTS EXPENSES OTHER QUIT

PRICES MANAGEMENT WEIGHT LAND TAX PARAMETERS QUIT



PR TERS PRICES MANAGEMENT WEIGHT INVENTORY LAND OTHER QIT

EXPENSES INCOME NET WORTH QUIT
a a 9 R SE


COST RECOVERY MENU


ENTER/MODIFY UPDATE METHOD
I I
a I
I STrRAIS6T-LINE


MACHINE BUILDINeS ANIMALS


PRINT LOANS/LIAB.


ACCELERATED


OTHER LOSSES ) suIT


MAIN RESTART


LOAN/LIABILTY MENU


ENTER/MODIFY LONG-TERPM UPDATE PRINT MAIN COST RECOVERY











obtained from financial statements, production records, or by making

appropriate calculations.


INCOME, EXPENSES, AND NETWORTH-THE MAIN MODULE

The program calculates income based upon expected prices of cattle

sold each year, herd size, herd growth and the average weights at those

prices. To start entering this information select the Enter menu from

the MAIN menu. The first option on this menu is Parameters. This is

where you enter your starting year along with other initial data.

Projected prices are entered into the simulation from the Prices

option. These prices- should reflect what you expect Choice (Medium No.

1) steers weighing 400-500 Ibs. will bring during each successive year

of the simulation. You should enter the prices expected in terms of

today's dollars. BEEFLOAN will automatically calculate the expected

prices for other classes of livestock using differentials included as

part of the program (Simpson and Alderman, .1982a, 1983b). These calcu-

lations of different prices are also used in the income computations.

Management practices and growth rates are entered via the Manage-

ment option. These numbers are entered as percentages (%) or as a

decimal figure (such as .10). Only the first year of each category

needs to be typed in. The Weights, Inventory, and Land options allow

their initial values to be entered. In the Expense option you may enter

various growth rates and amounts for several operating cost categories.

These categories include labor, feed, pasture, repairs, and

administrative expenses.










The Income option allows you to input income from operations other

than cattle. You also input your beginning balance in retained earnings

as well as contributions and withdrawals made. The capital gains deduc-

tion is also entered here. These values are usually 60 percent of the

capital assets sold. Since BEEFLOAN does not keep track of individual

animals or equipment, the user will have to enter these adjustments

manually. For example, assume that some of the cull animals sold were

bought less than five years ago. Normally, 60 percent of the cull sales

could be deducted. Thus, for example, if the sales were $10,000, then

$6,000 could be deducted. Since some of the culls were not fully cost

recovered, the book value ($4,000) must be deducted and the 60 percent

applied to the remaining gain ($6,000), for a total of $4,000 plus .60

times $6,000, a capital gain adjustment of $7,600.

All other values on the income and retained earnings statement are

automatically calculated and transferred from other modules described

earlier. The same is true under the final option Net Worth where only a

few current asset and liability categories need to be entered. Most are

calculated and automatically transferred from other modules. Now that

all of your initial data have been entered, BEEFLOAN will calculate what

we will call the straight-line strategy. To move to this next phase,

select the QUIT option of the Enter menu.

A series of calculations for each year's receipts .will be performed

when the QUIT option is selected. Several minutes are required, so

please be patient. This calculation loop is performed in only one other

p-acc: the Receipts and All options of the Print menu. The receipt












calculations, done in a loop to save memory, are based on prices,

management practices, weights, and inventory. It is usually a good idea

to save this straight-line strategy, before you begin testing

alternative strategies.


MAKING CHANGES

If you wish to change a value at some time during the simulation

you may do so by selecting the Analyze menu from the Main menu. Any new

values will be projected into the remaining years. This feature allows

you to change your strategy between years and provides the flexibility

of determining the viability from various alternatives.

One caution: when you select an option in the Analyze menu it puts

you in the WORKSHEET outside the direct control of the program. While

you are in this mode, values and formulas can be changed or written

over. For example, to specify the price for a category other than 400-

500 lb. steers, or to specify a different calf crop percentage, an

Expense or other item in future years, you may type in a new value which

overwrites the straight-line projection of the formula. If you wish

this change to be temporary, then do not save the worksheet.

You can only return to the Main menu by holding down the ALT key

and pressing "M". Furthermore, if any changes in prices, management

practices, weights, or inventory are to be made, the loop dust be done- -.....

by. (a) selecting and subsequently quitting the Enter menu or (b) by

performing the Receipts or All option in the Print menu. This procedure

is neccesary to ensure that total receipts are properly transferred to

the income statement.











COST RECOVERY

Three categories of cost recovery (what was formerly called depre-

ciation) items are allowed in BEEFLOAN. Machinery is used to identify

those items used in the production process. Such things as tractors,

hay balers, trucks, etc. would qualify as machinery items. The Animals

category is used to identify breeding livestock which have a high value

(those purchased, i.e., not produced on the ranch). Buildings include

offices, barns, wells, and similar structures. These categories also

have a growth factor which allows you to simulate inflation and/or price

increases. Several pieces of information are needed for each item you

wish to include in cost recovery: the name, growth rate, year purchased,

total useful life, and the original cost.


LOANS

Two categories of loan items are allowed in BEEFLOAN, Intermediate

and Long Term. By selecting either of these options a screen menu will

be displayed showing the loans that already exist. From this list you

will select the loan number you wish to enter or change. The input

required is the same for both categories. The sequence in which values

are entered depends on the arrow key used. The following sequence

occurs if you always use the right arrow key: the year the loan was

initiated, the initial amount, the name of the lenderss, the percent

required in PCA stock (0% if not PCA loan), the interest rate, the

amortization amount if different from the principal remaining, the

principal remaining, the amortization years (always defaults to 10

years), the amortization payment, the delinquent interest due, and the

expected payments in the following years.











The amortization values allow amortization payments to be calcul-

ated. The default amortization amount is the remaining principal, but

you may change this value as well as the amortization years. If you wish

to see the calculated amortization payment immediately, you may position

the cursor in that field after the other fields have been entered, press

EDIT (F2) and then Return. This will calculate the amortization payment

before all calculations are completed so that, if desired, the payments

entered may be based on this amortized amount. The entire loan situa-

tion is calculated by pressing Return when no entry has been made. Upon

returning to the loan screen you are placed in an automatic mode that

will recalculate each time a change is made. Here, a return with no

entry will return you to the screen menu. If, while in the automatic

mode, you need to make many changes, it may be faster to go back to the

screen menu and select the same loan again, so that you will be in the

initial mode where calculations are not done after each entry.


OUTPUT


Appendix C contains the output you will receive from the ALL option

in the Print menu. The "boxed-in" areas contain the base input or

default data which are included with your original disk containing the

BEEFLOAN program. It is also the default data shown in Appendix B "Data

Needed" which in most cases will be the year previous to the one in

which the analyses are being run.

Output is in current or "actual" dollars since the main use of the

program is analysis of financial situation. In effect, it is a "cash











flow" approach which is especially advantageous for analysis of

borrowings and payments. The problem users may have is visualizing

financial results not only because of structural changes on the ranch

itself, cyclical rises and falls in cattle prices, but also from

inflation." However, all of these factors must be contended with in

ranch planning or loan evaluation and this aspect alone makes this

program valuable.

There are 11 years shown in the output with the first being a base

year. Both deflated and actual or current price projections are given

for 400-500 lb. Medium 1 steers. For example, in year 10 the deflated

price (boxed in) is $80 per cwt. (using a 7 percent deflator inputted in

the parameters section) while the actual is $157 per cwt. Prices for

other categories are automatically calculated.

The current management practices, given after the price projec-

tions, indicate that no change is expected throughout the 10-year pro-

jections. Any of these could have been changed by selecting the Analyze

menu. For example, the calf crop could have been increased slowly to

reflect better management or the adjusted culling rate. A printout is

given on the next page of cattle weights, grading percentages chosen,

and the beginning inventory of cattle. Information on land utilization

is given next. The separate category for rented land must be accurately

specified to ensure correctness in the financial statements.

Projections of income from cattle sales, herd count, and land

utilization are given on the next eleven pages of output, with one year

per page. A careful check should be made of total projected income with











actual income in the base year, to be sure the projections are

realistic. The base year total should be within one percent of actual

data unless the base situation was quite unusual. In this case an

attempt should be made to develop a "usual" situation in the base year,

otherwise projected years will also be "unusual." Changes may be needed

in prices, cattle weights, grading percentages, or inventory.

Projections of herd count should be checked for all years to be

sure inventory changes are within desired limits. If the counts do not

reflect projection intentions, then the herd management practices param-

eters described earlier will have to be adjusted by using the Enter or

Analyze menu. Several trials may be necessary, but this step must be

completed before other output can realistically be analyzed. Observe

that the herd count is at the beginning of each year, but that the herd

management information reflects practices during the year.

Land utilization projections, provided just below herd count, do

not affect income or herd count. Rather, they are provided for the

strategy decisions discussed in the next section. Consequently, care

should be taken to assure that total carrying capacity projections are

reasonable. Adjustments can be made by changing the carrying capacities

(acres per cow) for each of the land classifications.

Operating expense projections are divided by major category to

facilitate management decision making. Attention is drawn to the indi-

vidual growth rates provided for each item. For example, the ranch

foreman's salary of $13,000 in the base year has a growth rate of 5'

percent, which means that in year 10 (1993) it would be $25,185.










Total cash expenses, along with income from cattle sales, are

automatically transferred to the income statement. Other income items,

which are included as part of the input data, would also show up here.

Gross receipts, the difference between income (receipts) and :cash

expenses, has interest expense, total cost recovery, loss on

abandonment, and bad debts subtracted to arrive at total non cash

adjustments. From that, pretax income is calculated. The figure is

then automatically transferred to the module on income tax calculation

and results printed out on the next page. The income tax calculations

are then automatically transferred back to the income statements, and

after-tax income calculated.

The second part of the income statement contains a statement of

retained earnings. The item "funds for addition to retained earnings"

can be considered the net cash inflow or outflow, and will dictate the

need for adjustments in loans (a printout of each loan is given at the

end of the output). If, for example, as shown in 1983 there is a defi-

cit of $28,413, and there were no retained earnings to cover this, then

a new loan would have to be taken out, or income injected into the

business from some other source. In the example, there is a beginning

retained earnings balance of $300,000, so the deficit would be covered

in this way provided the retained earnings were available for use in the

business. In effect, the accumulated balance shown is the major indica-

tor for adjusting loan initiations and repayments. More about this, the

net worth statement, and the financial ratios follows in the next

section on strategies.











The last item of output is a separate cost recovery schedule for

machinery, facilities, and cattle. Each one is on two sheets of paper

since all the projection years will not all fit on one page. Apart from

providing a record of cost recovery used in non cash adjustments for

income tax calculation, these schedules provide you with a listing of

all machinery regardless whether it is depreciated or not, and can thus

be used as a guide for planning. Use and explanation of the cost recov-

ery schedule is given in the next section since both topics are closely

related.


STRATEGIES


Quite a large number of strategies and plans can be simulated very

easily using BEEFLOAN. The approach should be first to obtain the

projections based on the present ranch situation, i.e. as though the

current physical relationships were to continue. This initial model or

scenario should be based on a stable situation in which cattle inventory

and management practices are continued indefinitely. Probably the only

changes would be in the cost recovery schedule where some machinery is

retired and new machinery purchased. As an example, a gooseneck trailer

is shown to be purchased in 1988. It is expected that the cost of these

trailers will increase about 5 percent annually and thus the future

price, automatically calculated, is $5,233 even though the 1983 price

entered as input data is $4,100. After capital purchases are entered,

several trials will be necessary on loan initiation to cover any short-

falls in income.










Once the initial model is completed, strategies can be planned and

examined. One is determining when loans should be repaid based on

income tax considerations. Another is analysis of ranch expansion or

intensification of management such as changing culling practices. In

this case appropriate adjustments would be made in weights.and grades of

cattle (benefits) while each cost item would be evaluated to determine

increased costs, such as additional supplemental feed for additional

heifers. The herd count could be used to determine inventory makeup

changes.

Considerable effort should be placed on evaluating the impact from

various price scenarios. One way is to develop what could be termed

conservative, expected, and optimistic projections. In addition,

several "what if" simulations can be made to evaluate the impact from

unusual price changes. Relatively little time should be spent

attempting to generate exact data on costs since a relatively large

error in any cost item will have relatively little impact on the total.

Numerous strategies related to timing of improvements are pos-

sible. Also, the program can be used to evaluate the impact on goals

and objectives from various management and investment practices. For

example, younger ranch owners may be most interested in capital and net

worth accumulation, while older operators may be most concerned with

risk minimization.

Lenders will find BEEFLOAN especially useful as a planning tool

since net worth statements, income statements and financial ratios are

provided. Strategies by bankers could revolve around setting standards

using ratios and then evaluating loans from that viewpoint.












SUMMARY


An explanation of and documentation for BEEFLOAN are provided in

this manual. Examples of input required and output are given. It is

concluded that while a considerable amount of input data is required,

and a moderate amount of time is required to input the data, adjust

coefficients, learn to use the program, and obtain usable results, that

the benefits far outweigh the costs on most operations. These benefits

can be calculated both in monetary terms and time saved from not

carrying out an undesirable practice. In addition, once the data are

entered, the program can quickly and efficiently be used to develop

short (one year) and intermediate (2-4 year) budgets, as well as for

long-term ranch planning.










REFERENCES


Simpson, James R. and Rom Alderman. A User's Manual for BEEFLOAN, A

Long-Term Ranch Financial Simulation Program. Economic Information

Report 170, Food and Resource Economics Department, University of

Florida, November 1982.

Simpson, James R. and Rom Alderman. Estimating Feeder Calf Price Dif-

ferentials. Staff Paper 230, Food and Resource Economics Depart-

ment, University of Florida, February 1983.

Simpson, James R. and Rom Alderman. "Project Your Cattle Prices Using

Differentials." The Florida Cattleman. August 1983.






























APPENDIX A

COMPATIBLE COMPUTERS









The following is a listing of the computers with which LOTUS 1-2-3 is compatible.


IBM PC
IBM XT
COMPAQ
TEXAS INSTRUMENTS PC
ZENITH Z-100


BYTEC HYPERION

DEC RAINBOW 100
DEC RAINBOW 100+
WANG PC
GRID COMPASS
HEWLETT PACKARD 150


IBM 3270 PC
TANDY MODEL 2000

*By using a HERCULES
monochrome display.


**The only printers supported
are DEC LA50 and DEC LA100.
with DEC is the HP 7470A.


Immediately*
Immediately*
Immediately
Immediately
Immediately (Zenith produces and supports
this version of 1-2-3. For further in-
formation call Zenith at 800-447-4700).
Immediately (Call Bytec at 613-226-7013
for nearest dealer).
Immediately**
Immediately**
Immediately
Immediately
Immediately (HP produces and supports
this version of 1-2-3. Call HO at
800/FOR-HPPC for nearest dealer).
Immediately
Mid-1984

GRAPHICS CARD. you may obtain graphics on an IBM


for the RAINBOW for either text or graphics
The only plotter supported for graphics


The following peripherals are supported for graphics in LOTUS 1-2-3.

HEWLETT PACKARD HP 7470A PLOTTER
EPSON MX 80 AND MX 100 WITH GRAFTRAX PLUS
IDS PRISM 80 AND 132 COLOR PRINTERS
OKIDATA-MICROLINE SERIES (82A, 83A, 84 (STEP 2), 92, 93) PRINTERS
ANADEX 9620A SILENT SCRIBE PRINTER
NEC 8023 PRINTER
STROBE M100 AND M200 COLOR PLOTTERS
ENTER SWEET P COLOR PLOTTER
IBM GRAPHICS PRINTER
EPSON FX80 PRINTER


In addition, the following peripherals are supported in a new PrintGraph Printer
Library, which is currently available for the IBM PC and XT, COMPAQ, TEXAS INSTRUL
MENTS PC, and WANG PC from your local 1-2-3 dealer:


AMDEK AMPLOT II 6-PEN PLOTTER
C. ITOH 8510 SERIES PRINTER
CALCOMP MODEL 84 8-PEN PLOTTER
CANON A-1210 COLOR INKJET PRINTER
DEC LA100 PRINTER
DIABLO MODEL C COLOR INKJET PRINTER
EPSON FX100 PRINTER










GE/FENICOM 3000 COLOR AND B&W PRINTERS
HEWLETT PACKARD HP 7475A 6-PEN PLOTTER
HOUSTON INSTRUMENTS DMP-29 8-PEN PLOTTER
IBM XY/749 8-PEN PLOTTER
INFORUNNER RITEMAN PRINTER
INFOSCOPE 1200 COLOR PRINTER
MPI PRINTMATE 150 PRINTER
PRINTEX 920 PRINTER
PRINTRONIK MVP 150B PRINTER
TEXAS INSTRUMENTS TI850 PRINTER
TOSHIBA P1350 PRINTER
TRANSTAR T315 COLOR PRINTER


An integrated LOTUS product for the APPLE-MACINTOSH computer will be available
in the fourth quarter of 1984.

LOTUS SYMPHONY, an open-ended integrated software package, which combines
word-processing, communications, spreadsheet, database, graphics, command
language, and window management, will be available for the IBM PC and IBM
XT in July of 1984.































APPENDIX B

INPUT NEEDED





















PARAMETERS


Base Year:

Inflation Rate (global growth rate):

Percent appreciation for land value:

Average value of Land (Net Worth Stmt):


Default
Data


1983

7.00%

2.00%

$1,000


Your
Data
















BASE YEAR:


1983


PRICE TABLE


83 84 85
BASE 1 2
Medium frame #1 Steers
Deflated 4-5 CWT ($/CWT) 164 70 75


86 87 88 89 90
3 4 5 6 7
DEFAULT DATA
,7 70 70 64 60
YOUR DATA


91
8


Page 1-1

92 93
9 10


70 75 801


CURRENT HERD
YEAR==>

DEl
Percent weaned calf crop
BREEDING FEMALES
Percent culled
Percent death loss
% replaced by purchase
% Replacements to herd
REPL. HEIFER CALVES
% held for replacements
Percent culled
Percent purchased
BULLS
Percent culled
Percent death loss
Percent replaced
MARKET CALVES
% sold as lightweight
% sold at weaning
% sold after background


MANAGEMENT
83
BASE
-AULT YOI
90%

10%
1%
0%
507%


40%
10%
0%

22%
0%
24%.

25%
60%
15%


PRACTICES
83
BASE
UR DATA


Page 1-2


1-100% BREED AT 1 YEAR
S -- 50% BREED AT 2 YEARS
1- 33% BREED AT 3 YEARS


I T


m











Weight
Type DEFAULT YOUR DATA

Choice weaned steers 450
Good weaned steers 420
Choice backgrounded steers 600
Good backgrounded steers 580
Choice Itweight steers & heifers 290
Good lightweight Steers & heifers 270
Choice weaned heifers 410
Good weaned heifers 390
Choice backgrounded heifers 450
Good Backgrounded heifers 430
Utility cows 1000
Cutter cows 960
Bulls 1,380
Non-breeding Females (1-2 yr olds) 750


Page 2-2


GRADING PERCENTAGE INFORMATION

Percent lightweight calves grading Med. 1
Percent weaned calves grading Med. 1
Percent background calves grading Med. 1
Percent cull cows grading utility


BEGINNING INVENTORY OF CATTLE


For Beginning of Year:
(Or end of Year):


Breeding Females
Non-breeding Females (1-2 year olds)
Bulls


60%
80%
907.
757%


1983
1982


1000
230
30


BASE


DEFAULT
TOTAL ACRES
Native Range 500
Semi-improved 1,500
Fully-improv. ,000

ACRES RENTED
Native Range O
Semi-improved 500
Fully-improv. 1,000

CARRYING CAPACITY
Native Range 15.0
Semi-improved 3.0
Fully-improv. .5


YOUR DATA


AVERAGE CATTLE WEIGHTS


Page 2-1















EXPENSES (TABLE 2)

TITLE Rate BASEYR : Rate BASEYR

DEFAULT YOUR DATA
LABOR EXPENSES
Ranch Management 0.00% 20 000
Ranch Foreman 5. 00% 13, 00
Ranch Labor 5.00% 20, 000
Payroll Taxes 2.0. 0 4000
Workmen's Comp. 2. 00% 2.500


SUBTOTAL


59,500


CATTLE EXPENSES
FEED
Cows
Backgnd
Other

SUBTOTAL


VETERINARY EXPENSES


PASTURE EXPENSES
Fertilizer
Native Range
Semi-improved
Fully-improv.


Lime
Native Range
Semi-improved
Fully-improv.


2. 00% 2:. 000
8.00% 6.000
0.00.% 2.000

28, 000


3.00% 7,500


Cost/Acre RATE
$0. 00 0. 00%
2.00 a. 00%
5.00 10. 00.


Cost/Acre
$0.00 0.0%
1. ()00) 7.00%.
3.00 7. 00%


Cost/Acre RATE.


Cost/Acre RATE


SUBTOTAL


Sod
Fertilizer (Additional)
Lime (Additional)

SUBTOTAL

Seed
Semi-improved
Fully-improved


SUBTOTAL


ii-
38.00 4 *
8.00% __




5.00% 1,0 J1 __:)
5. 00% 000

4,000















PASTURE EXPENSES CONT'D.


Machinery Hire
Existing Pasture
Other uses

SUBTOTAL

Rent
Native Range
Semi-improved
Fully-improv.


0.00% 5,000
6. 00% 1, 00(:

6,000


Cost/Acre
$10.00 0.00%
10.00 0.00%
10.00 0.00%


Cost/Acre RATE


Conservation

SUBTOTAL


SUBTOTAL FOR PASTURE


5.00% C)

18, 000


56,500


REPAIRS, SUPPLIES AND UTILITIES
Repairs & Maintenance 5.00% t,00I 0
Supplies 8.00% 3,000
Gas & Oil 4.00% 5,000
Light, Power & Water 5.00% 2, 000 -

SUBTOTAL 20,000


ADMINISTRATIVE
Real Estate Taxes,
Licenses, Etc.
Insurance
Telephone
Office & Other

SUBTOTAL


2.00% 10,000
5.00% 2,000
5.00)% 1,000
5. 00% 25,000

38,000


TOTAL CASH EXPENSES 209,500














INCOME STATEMENT
Growth BASE YEAR
DEFAULT YOUR DATA
INCOME RECEIPTS


Sod O
Timber & Pulp 0
Mares & Colts 0
Hogs 0
Seed o
Hay 10,000
Stock Dividends 0
Mi scel aneous 10,000

BEGINNING BALANCE 300,000

CONTRIBUTIONS 10,000

WITHDRAWALS 5,000


NET WORTH STATEMENT
ASSETS
Feed 5,000
Seed 0
Supplies 5,000
Fertilizer 0
Cash & Savings 20,000
Miscellaneous 0
Stock General 0
Horses 6,000
Other 7.00% 0


LI AB IL I
Accounts Payable
NoteNotes Payable


TIES
1,000
3,000

































LOA


1


B E EFLOAN L I A B I L I T I E S
Year Loan Started:
Loan number: 1 Initial Loan Amt.:
Name of Loan: LOCAL PCA COW PURCHA PCA Stock ? (%):
Interest Rt.: 112.00%1- Cash Received:
Amortization Amount = 215,000/ Principal Remain.:
for 10 Years = 39939 Delinquent Int.:
Year Ending Payments Curr.Int. Del.Int. Principal
-------------- --------- --------- --------- ---------
1983 39,939 28,380 0 203,441
1 984 39,939 26,854 0 190,356
1985 39,939 25,127 0 175,544
1986 39,939 23,172 0 158,777
1987 39,939 20,959 0 139,797
1988 39,939 18,453 0 118,311
1989 39,930 15,617 0 93.,998
1990 39,939 12,408 0 66,467
1991 39,939 8,774 0 35,301
1992 39,961 4,660 0 (0)
1993 0 O O (0)

DEFAULT DATA
N PCA REMAINING DELINQUENT
YEAR (%) LOAN AMT INTEREST PRINCIPAL INTEREST
-------------- --- -------- ----- -------- --------
1976 10% 500, 000 12. 00"% 215, 000 0


YOUR DATA


1976
$500, (000

$450, 00C
1$215, )000

ENDING BAL.

20 3,441
19 0, 356
175,544
15,777
139,,797
118,311
93,998
66,467
35, 30 1





NAME

LOCAL PCA


1

2



4

5

6

7

8

9

10NG

LONG-TERM


- - -


~-------

--I-----



I-~----'



-I------





-'~-----'--


i


-------- --- -'


--- -- --- -

'------------- -




'----- -- ------~


-----~--~-


--------


IIIIIIII


IIIIIT[I


------------










Past Future Tax
Growth Purch. Life Price Purchas Price Credit 1983 1984 1985 1986


1 REACHH OFFICE
2 aPRN
3 INEL L


OX 1976
102 1980
10X 1979


15 $27,000 2704
15 $5,000 50
10 $3,000 i 304


00 0 0 1801 1801 1801 1801
00 0 0 334 334 334 334
00 0 0 300 300 300 300
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0' 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0.
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0


Past Future Tax
Growth Purch. Life Price Purchas Price Credit 1983 1984 1985 1986


1 BROOD CONS 750 09600
2 BULLS
3 150 PURE BRED HEIFERS V700
4 100 PURE BRED HEIFERS V700


0% 1975
01 1976
51 1982
0% 1985


5 $450,000 4500
5 $30,000 3001
5 $105,000 1050
5 $70,000


00 0 0 0 0 0 0
00 0 0 0 0 0 0
00 0 0 21000 21000 21000 21000
0 70000 7,000 0 0 7000 14000
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0


NAME









COST RECOVERY


Year Years of Purchase Past


Growth Purch.


Life Price


YE AR


NAME


0
0
0
0
0
0
0
0
0
0
0


Future Tax
Price Credit 1983


Purchas

2000
1000
2000
300
5000
5500
500
3100
0
0
0
0
0
0
0
0
0
0
7425
14700


CHOPPER 0% 1976 5 $2,000
HORSE TRAILER 0% 1978 5 $1,000
TURBO PUMP 0% 1979 5 $2,000
3 H.P. NOTOR 0% 1979 5 $300
OWIN MACHINE 0% 1980 5 $5,000
4 TON FEEDERS 0% 1981 5 $5,500
MOLASSES LICK OZ 1981 5 $500
FEED WAGON 0% 1982 5 $3,100
2-5000 GALLON TANKS 5% 1983 5 $3,600
TURBINE PUMP 5% 1983 5 $4,500
1979 IH 684 5% 1984 5 $8,300
JOHN DEERE 5020 5% 1984 5 $5,900
6MC DETROIT ENGINE 5% 1985 5 $5,400
WINDMILL 5% 1984 5 $2,000
CHAIN SAW 5% 1985 5 $200
OFFICE FURNITURE 01 1983 5 $1,700
AIR CONDITIONER 51 1986 5 $1,000
G00SENECK TRAILER 5Z 1988 5 $4,100
MISC > $1000 0% 1975 5 $7,425
MISC < $1000 5% 1977 5 $14,700


1984 1985 1986


0
0
0
0
0
0

3600
4500
8715
6195
5954
2100
221
1700
1158
5233
0
0
0
0
0
0
0
0
0
0
0
0


0
100
400
60
1000
1100
100
620
360
450
0
0
0
0
0
170
0
0
0
0
0
0
0
0
0
0
0
0
0
0


0
. 0
200
30
1000
1100
100
620
720
900
872
620
0
210
0
340
0
0
0
0
0
0
0
0
0
0

0
0
0


0
0
0
0
500
1100
100
620
720
900
1743
1239
595
420
22
340
0
0
0
0
0
0
0
0
0
0
0
0
0
0


0
0
0
0
0
550
50
620
720
900
1743
1239
1191
420
44
340
116
0
0
0
0
0
0
0
0
0
0
0
0
0


-- -- --' ---- -- --- --






























APPENDIX C

SAMPLE OUTPUT

















PARAMETERS

Base Year:

Inflation Rate (global growth rate):

Percent appreciation for land value:

Average value ofa Land (Net Worth Stmt):


198.3

7. %D










PRICE TABLE


BASE YEAR:


1983


Medium frame #1 Steers
Deflated 4-5 CWT ($/CWT) \6g
200-300 lbs. 83
300-400 Ibs. 72
400-550 Ibs. 64
550-Up lbe. 55
Medium frame #2 Steers
200-300 los. 75
300-400 lbs. 66
400-550 lbs. 60:
550-Up lbs. 51

Medium frame #1 Heifers 55
Medium frame #2 Heifers 53
Utility grade cows .40
Cutter grade cows 38
Bull s 47


83 84 85 86


70
100
85
75
63

90
77
70
58

64
62
45
43
53


75
116
98
86


105
713
89
80
66

73
71
51
48
59


67
110
93
82
68

99
85
76


70(
68
49
47
57


87 88 89


70-
125
105
92
75

112
96
85
70

78
76
54
51
63


70
135
113
98
80

121

91
74

84
81
57
54
67


64
131
110
96
78

118
i00
89
73

982
79
56

i5
'45-


FPage 1-1

90 91 92 92


60
132
110
96
78

119
101
'39
89



79
56
53
66


70
168
139
120
95

150
126
111
89


99
68
64
79


75
194
160
138
108,

174
145
127
101


113
76
72


Li-


157
122

200.
S1--

I 51-


CURRENT HERD MANAGEMENT PRACTICES


YEAR==>
Percent weaned calf crop
BREEDING FEMALES
Percent culled
Percent death loss
% replaced by purchase
% Replacements to herd
REPL. HEIFER CALVES
% held for replacements
Percent culled
Percent purchased
BULLS
Percent culled
Percent death loss
Percent replaced
MARKET CALVES
% sold as lightweight
% sold at weaning
% sold after background


83 84
j907% 9(0%


130%
1%
0%


40%
10%
0%

22%
0%
24%

25%
60%
15%


10%7
1%



40%
10%
00%

22%
0%
24%

25%
60%
15%


85 86 87 88 89 90 91
90%. 9:0% 90%7 90%. 9:0% 90% 90%


10%
1%
0 i
50%

40%
10%
0%

227.

24%

2.5%
60%
15%


10% 10%
1% 1%
50% 0%
50%. 50%


40 7.
10%
0%

222
0%
24%

25%
60%
15%


40%
10%
0%



24%"

25%
605%
15%7


10%
1%
0%
50%

40%
10%




24%

25%,
60%
15%.


10%
1%
0%
50%

40%
10%


22%


25%

60%
15%:


10%
1%
0%7
50%


10%
1%
0%
50%


40% 40%
10% 10 %

0% 0%

24% 24%.

25% 25%
60)% 6)0%
15% 15%'


Page
92
90%

10%
1%
0%
5. 0%

40%
10%
0%t



24%

25%
1 r. ip


1-2
93
90%

10%
. 1%
0%
50%

40%
10%
0%


0%
24%

25%

15%


*


*


I










AVERAGE CATTLE WEIGHTS Page 2-1

Type Weight

Choice weaned steers 450
Good weaned steers 420
Choice backgrounded steers 600
Good backgrounded steers 580
Choice Itweight steers & heifers 290
Good lightweight Steers & heifers 270
Choice weaned heifers 410
Good weaned heifers 390
Choice backgrounded heifers 450
Good Backgrounded heifers 430
Utility cows 1000
Cutter cows 960
Bulls 1,380
Non-breeding Females (1-2 yr olds) 750











Pade 2-2
GRADING PERCENTAGE INFORMATION

Percent lightweight calves grading Med. 1 60%
Percent weaned calves grading Med. 1 80%
Percent background calves grading Med. 1 90%
Percent cull cows grading utility 75


BEGINNING INVENTORY OF CATTLE

For Beginning of Year: 1983
(Or end of Year): 1982

Breeding Females 1,000
Non-breeding Females (1-2 year olds) 2
Bulls 30













LAND UTILIZATION


1983

TOTAL ACRE
Native Range 500
Semi-improved 11,500
Fully-prov. 3,000

ACRES RENTED
Native Range 0
Seii-improved 500
Fully-isprov. 1,00^

CARRYING CAPACITY
Native Range 15.0
Sesi-improved 3.0
Fully-iaprov. 1.5


1984 1985 1986 1987 1988 1989 # 1990


500
1,500
3,000


0
500
1,000


500
1,500
3,000


0
500
1,000


500
1,500
3,000


0
500
1,000


500
1,500
3,000


0
506
1,000


500
1, 0 A
3,000


0
500
1,000


500
1,500
3,000


0
500
1,000


15.0
3.0
1.5


500
1,500
3,000


0
500
1,000


1991 1992 1993


500
1,500
3,000


0
500
1,000


500
1,500
3,000


0
500
1,000


15.0 15.0
3.0 3.0
1.5 1.5










1983
PROJECTIONS OF INCOME FROM CATTLE SALES


+--
I W

CALVES +
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER


BULLS

TOTALS


-----------+----------+------------------------------------
t/Hd Number I $/Cwt IIncome/Hd :Total Income.
LBS Head DOLLARS
-----+--------+--------------------+----------------


450
420


600
580


290
270


410
390


450
430



1,000
960

1,380


213
53


60
7


142
47


151
38


7

864


$64.00
59.70


55.13
51.18


83.28
75.38


55.08
53.10


t4. 00
59.70



40.15
38.36


288
251


331
297


241
204


226
207


288
257



402
368


46.78


61,217
13,324


19, 772



34, 14



34,145
7,82-


12,24-
1,217



30, 114
9,206

S4,23?

--- -- -22--


HERD COUNT AND

HERD COUNT -Beginning of Year
Br6cd Cows
Unbred 1-2 year olds
Bulls


TOTAL


LAND UTILIZATION
No. Head

1, 000
230
30:

1 ,260


Animal Units


1, 000
230
45

1.275


HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


LAND UTILIZATION
Native Range
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


-cres
500
S. 500
3, 000

5,000


1 10
135


44c ccw
15. ,
1.5


Carr ina lap. -

500
2,000

257-:--







34

1984
PROJECTIONS OF INCOME FROM CATTLE SALES

+-------+--------+--------+---------+-------------
: Wt/Hd I Number t $/Cwt IIncome/Hd Total Incomel
SLBS Head I DOLLARS
+-------------+----+--------------+--------- ----


Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD


450
420


600
580


290
270


410
390


450
430


Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER


BULLS

TOTALS


HERD COUNT AND


HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


TOTAL


214
53


60
7


143
48


152
38


1,000
960

1,380


$74.90
69.61


62.92
58.48


99.6.3
89.92


64.24
61.91


74.90
69.61


45.47
43.37


337
292


378
339


289
243


263
241


337
299



455
416


7 53.10


869


LAND UTILIZATION
No. Head


1,005
250
31

1.286


71,977
15, 608


22.674
2.264


41,250
11.554


40.020
9, 17'3


14 405
1.421



34,274
10, 4%2

4,911

$279, Q.


Animal Units

1.0 05
250(
46


1, 301


HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves:


LAND UTILIZATION
Nati e Range
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


Acres
500
1.500


5. 000


905
111
13o


#*Ac/,ow
15. :
1.5
1.5


Car vying Cap. '.

500
2, 000


CALVES


2,.533








35

1985
PROJECTIONS OF INCOME FROM CATTLE SALES


+--

: W

CALVES +
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER

BULLS


-----+-------- --------+----------+------------+
t/Hd : Number I $/Cwt :Income/Hd :Total Incomel
LBS I Head DOLLARS
+-------------------- ----- --------------


450
420


600
580


290
270


410
390


450
430



1,000
960

1,380


TOTALS


217
54


61
7


145
48


154
39


43
5



76
25

7

881


$85.87
79.57


70.76
65.83


116.08
104.55


73.45
70.79


85.87
79.57



50.82
48.42

59.46


386
334


423
382


337
282


z01
276


386
342



508
465-

821


83,694
18,096


25,864
2,584


48,749
13,,2-7


46,41S
10,638


16,751
1,648



38.859
11,847

5,616

=324, 02


HERD COUNT AND


LAND UTILIZATION
No. Head


Animal Units


HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls

TOTAL

HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


LAND UTILIZATION
Native FRange
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


Acres
500
1. 500
3,.000

5, 000


1.0
2

1.3


19 1,019
61 261
31 47

11 1


918
112
18


#Ac cow
15.0
3.0
1.5


Car-vig Caca. 'Au

500
2.000










1986
PROJECTIONS OF INCOME FROM CATTLE SALES


+--
SW

CALVES +-
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Hei-ers
CHOICE
GOOD

-Backgnd Hei-ers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER

BULLS


-----+--------+-------------------+------------
t/Hd : Number i $/Cwt IIncome/Hd ITotal Income.
LBS Head DOLLARS
---------- +-------------------------------------


450
420


600
580


290
270


410
390


450
430



1,000
960

1,380


TOTALS


220
55


62
7


147
49


157
39


44
5



78
26

7

897


$82.08
76.13


68.05
63.29


110.39
99.49


70.27
67.72


82.08
76. 13



48.97
46.68

57.27


369
320


408
367


320
269


288
264


369
327



490
448

790


81,424
17,621


25.31.7
2.525



13,1:












38. 13
11.024

5.524

$315.s :


HERD COUNT AND


HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


TOTAL


LAND UTILIZATION
No. Head


1,038
268
3-8

1. 358


Animal Units

1,038
268
48

1,354


HERD MANAGEMENT During Year
Weaned calves
Cows to reolace (death & culled)
Replacement h.eifer calves


LAND UTILIZA-'ON
Nati ve Fange
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


Acres
500
1, 500O
3. 000

5,000


#Ac /ow

3.0
1.5


Carry n CaD. .-'

500


2533


114
140











1987
PROJECTIONS OF INCOME FROM CATTLE SALES


+--
I W

CALVES +--
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER

BULLS


----------------------+---------------------------------
t/Hd i Number I $/Cwt IIncome/Hd ITotal Income:
LBS I Head I DOLLARS
-----+--------+--------+--------------+-----------------


450
420


600
580


290
270


410
390


450
430



1,000
960'

1, ..8


TOTALS


225
56


63
7


150
50


160
40:


79
26

7

914


$91.76
84.92


74.97
69.78


124.91
112.40


78.39
75.55


91.76
84.92


53.70
51.13

62.88


413
357


450
405


362
303


321
295


537
491


92,762
20. 032


28,422
2,841


54,413
15,196


51,392
11,778


18, 568
1,825



42, 588
12.976


6.194

$358,987


HERD COUNT AND

HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


TOTAL


LAND UTILIZATION
No. Head

1, 057
274


1.364


Animal Units

1,057
274
49

17.81


HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


LAND UTILIZATION
Native Range
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


Acres
500
1 .500
5., 000

5. 000


952
116
143


#3Ac .' :o3w


1.5


Carrying Cap. 1lU)

500
2,000

2,5*
'-4 ---








1988
PROJECTIONS OF INCOME FROM CATTLE SALES


4--.
W

CALVES +
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER

BULLS


-----+--------+---------+----------+--------------
t/Hd : Number 1 $/Cwt :Income/Hd !Total Income;
LBS : Head DOLLARS
---------------------+------------+------------


450
420


600
580


290
270


410
390


450
430



1, 000
960

1. 380


TOTALS


229
57


4
7


153
51


163
41


46
5



81
27

7

932


$98.18
90.75


79.56
74.08


134.54
120.97


83.79
80.75


98.18
90.75



56.83
54.08

66.60


442
381


477
430:


390
327


344
315


442
390



568
519

919


101.196
21,827


30,753
-., ,075


59 757
16,675


56,005
12,834


20,257
1 .988



45.956
13,995

6, 700
----------__


HERD COUNT AND


LAND UTILIZATION
No. Head


HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


TOTAL


HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


1.078
280

13
1,391


Animal Units

1,078
280
50

1,408


970
119
146


LAND U'ILIZATION
Nati-e Range
Semi-imoroved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


Acres
500
1,500
3,.000

5. 000


4Acc :o


1.5


Carrig C3ap. A


2, 000

2,.53








1989
PROJECTIONS OF INCOME FROM CATTLE SALES

+----------------+-------------------+------------


CALVES
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD


Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER


BULLS

TOTALS


I Wt/Hd Number I $/Cwt :Income/Hd !Total Income!
LBS Head DOLLARS
+---------------+--------------------+-------------------


450
420


290
270


410
390


450
430



1,000
960

1,380


234
58


66
7


156
52


166
42


47
5



82
27


$96.05
88.82


78.04
72.65


131.35
118.13


82.00
79.02


96.05
88.82



55.79
53. 10


432
373


468
421


432
382



558
510


7 65.37


100,951
21,782


30, 759
3, 076


59,488
16,604


55, 890
12,808


20,208
1,984



46,006
14,012


6,716

$390,286


LAND UTILIZATION
No. Head


-EPD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls

TOTAL

HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


LAND UTILIZATION
Native Range
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


Qcres
* 500
1. 500


5.000


1,0 99
285
34

1.419


Animal Units


1,099
285
51

1.436


121
148


#Ac/cow
15.0
3.0
1.5


Carrying Cap. (ALU

500
2.000
F) 'I'I
S'" q :


2.533


HEPD COUNT AND








1990
PROJECTIONS OF INCOME FROM CATTLE SALES


CALVES
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD


Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER

BULLS


+-------+-------+-------- ------ -----.-------
I Wt/Hd : Number I $/Cwt :Income/Hd ITotal Income
I LBS Head DOLLARS
+-------+----------------+---------------+


450
420


600
580


290
270


410
390C


450
430



1,000
960

1,380


TOTALS


238
60


67
7


159
53


170
42


48
5



84
28

8

969


$96.35
89.09


78.25
72.85


131.80
118.53


82.25
79.26


96.35
89.09



55.94
53.24

65.54


434
374


470
423


382
320


337
309


434
383



559
511

904


103,270
22,282


31,454
3,145


60.874
16,990


57,.17I
13,102


20,673
2, :030



47,041
14,327

6,877

$399,237


LAND UTILIZE
No.


HERD COUNT AND

HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


-ERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


_-ND UTILIZATION
Native Range
Semi-improved pasture
Fully improved pasture

TOTAL CARRYING CAPACITY


,Acres
500
1,5004
3,000

5,000


NATION
Head


Animal Units


1,121 1,121
291 291
35 52

1,447 1,465
1.447 1,465


1,009
123
151


#Ac/cow
15.0
3.0
1.5


Carrying Cap. ( AU)



2. -(33
2 it!-)








1991
PROJECTIONS OF INCOME FROM CATTLE SALES


+--
W

CALVES +
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER


BULLS

TOTALS


-----+---------+---------------------------------------
t/Hd Number I $/Cwt IIncome/Hd :Total Income;
LBS Head DOLLARS
--------------+-------------------------------


450
420.


600
580


290
270


4 10
390


450
430


243 $120.27
61 110.83


68
8


162
54


173
43


1,000
960

1. 380


8

988


95.36
88.8 a


167.68
150.45


102.35
98.62


120.27
110.83



67.61
64.25

79.42


HERD COUNT AND LAND UTILIZATION
No. Head


HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls

TOTAL

HEFD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


1,144
297
35

1,476


541
465


572
516


486
406


420
385


541
477



676
617


131,470
28,267


39(090
3,913


78.985
21,9 93


72,554
16, 625


26,319




57,987
17,632


1,096 8,510

$505,919



Animal Units

1,144
297
53

1,494


1. 029
126
154


LAND UTILIZATION
Nati ve Range
Semi-improved pasture
Fully improved pasture

TOTAL CAFPYING CAPACITY


Acres
500
1. 500
5, (:000:

5. 000


tAc/cow
15. 0
13.
1.5


Carrving Cap. ,AU)


2,000

2, 533--








1992
PROJECTIONS OF INCOME FROM CATTLE SALES


CALVES
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD


Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTER


BULLS

TOTALS


+-------+-------+------------------+--------------4-
I Wt/Hd : Number : 4/Cwt ;Income/Hd ITotal Income;
LBS Head : DOLLARS
+-------+----------------+------------------------


450
420


290
270


410
390


1,000
960

1,380


248
62


70
8

ab
166
55


176
44


87
29

8

1,008


$137.88
126.83


107.95
100.68


194.10
173.94


117.14
112.87


137.88
126.83



76.21
72.35

89.63


620
533


648
584


S563
470


480
440


.620
545



762
695

1,237


153,708
32,989


45,128
4,521


93,241
25,931


84,689
19,405


30, 771
3,005



66,655
20 249

9,809

$590, 100


HERD COUNT AND


LAND UTILIZATION
No. Head


HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


TOTAL


HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer cables


1,166
303
36

1,505


1,050
128
157


Animal Units

1,166
303
54

1.523


LAND UTILIZATION
Native Range
Semi-improved pasture
Fulli y improved pasture

TOTAL CARPING CAPACITY


Acres
500
1, 500
3. 000

5. 000


#Ac/cow
15.0
1. 0
1.5


Carr'vi ng Cap. (AU


2, 000






43

1993
PROJECTIONS OF INCOME FROM CATTLE SALES


+--
W

CALVES +
Weaned Steers
CHOICE
GOOD

Backgnd Steers
CHOICE
GOOD

Lt. Steers & Heifers
CHOICE
GOOD

Weaned Heifers
CHOICE
GOOD

Backgnd Heifers
CHOICE
GOOD

CULL COWS
Sale at Weaning
UTILITY
CUTTEF.

BULLS


--- -----------+-------.----+-- ----------+-------------
t/Hd : Number $/Cwt :Income/Hd :Total Incomei
LBS Head DOLLARS
----+----------------------+------------+---------------


450
420


60o0
580


290
270


410
390C


450
430



1,00
960)

1,380


TOTALS


HEFD COUNT AND

HERD COUNT -Beginning of Year
Brood Cows
Unbred 1-2 year olds
Bulls


TOTAL


253
63


71
8


169
56


180
45


51
6



.89
30

8

1.028


$157.37
144.53


121.89
113.74


223.33
199.94


133.51
128.63


157.37
144.53



55.72
81.31

100.94


LAND UTILIZATION
No. Head

1,189
309
37

1,535


708
607


731
660:


648
540


.547
502


708
621



857
781

1,393


178.909
38,339


51,963
5.208


109,411
30.398


98.439
22.554


35.817
3,493



76,461
23,210

11.,280

$685.480


Animal Units


1,189
309
56

1.554


HERD MANAGEMENT During Year
Weaned calves
Cows to replace (death & culled)
Replacement heifer calves


LAND UTILIZATION
Native Range
&sni-improved pasture
Fully improved pasture

TOTIL CARRYING CAPACITY


Acres
500
1. 500)
3, 000

5, r. :0


1, 070
131
161


$*Ac / C w
15.0
3.0
1.5


Carrying Cap. (AU)

500
2,000

2,533










OF OPERATING EXPENSES


TITLE Rate 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993


LABOR EXPENSES
Ranch Management 0.00% 20,000 20,100 20,389 20,753 21,150 21,564 21,990 22,425 22,870 23,324 23,787
Ranch Foreman 5.00% 13,000 13,716 14,611 15,616 16,710 17,889 19,155 20,511 21,963 23,519 25,185
Ranch Labor 5.00% 20,000 21,105 22,479 24,024 25,708 27,522 29,468 31,555 33,790 36,183 38,746
Payroll Taxes 2.00% 4,000 4,100 4,243 4,405 4,579 4,762 4,953 5,152 5,359 5,575 5,799
Workmen's Coap. 2.00% 2,500 2,563 2,652 2,753 2,862 2,976 3,096 3,220 3,350 3,484 3,625

SUiTOTAL 59,500 61,586 64,373 67,550 71,008 74,712 78,661 82,863 87,332 92,086 97,142

----------------------------------------------------------- ------------------------------


CATTLE EXPENSES
FEED
Cows
Backgnd
Other

SUBTOTAL


*ETERINARY EXPENSES


PASTURE EXPENSES
Fertilizer
Native Range
Semi-improved
Fully-iaprov.


2.00% 20,000 20,502
8.00% 6,000 6,512
0.00% 2,000 2,010

28,000 29,024


21,213
7,135
2,039

30,386


22,023
7,843
2,075

31,941.


22,893
8,632
2,115

33,640


23,808
9,505
2,156

35,470


24,764
10,469
2,199

37,432


25,760
11,530
2,243

39,532


3.001 7,500 7,764 8,112 8,504 8,927 9,374 9,846 10,343 10,864 11,412 11,988


Cost/Acre
$0.00 0.002 0
2.00 8.001 3,000
5.00 10.00%1 15,000

18000


0
3,248
16,500

19740


0
3,499
18,1506

21649


0 0 0
3,779 4,081 4,408
19,965 21,962 24,158

23744 26043 28566


0 0
4,761 5,141
26,573 29,231

31334 34372


Lime
Native Ralge
Semi-improved
Fully-isprov.

SUBTOTAL


Fertilizer (Additional)
Lie (Additional)


SUBTOTAL

Seed
Semi-isproved
Fully-sproved

SUBTOTAL


Cost/Acre
$0.00 0.00o 0 0
1.00 7.001 1,500 1,605
3.00 7,001 9,000 9,630

10500 11235


0
1,717
10,304

12021


0
1,838
11,025

12863


0
1,966
11,797

13763


0
.2,104
12,623

14727


0
2,251
13,507

15758


8.00Z 0 0 0 0 0 0 0 0
8.00 0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0


5.00Z 1,000 1,050
5.Q01 ,1000 3,150

4,000 4,200


1,103
3.308

4,410


1.158
3,473

4,631


1,216
3,647

4,862


1,276
3,829

5,105


26,796
12,699
2,287

41,783


27,874
13,987
2,332

44,194


28,996
15,406
2,379

46,781


0
5,553
32,154

37707


0
5,997
35,369

41366


0
6,477
38,906

45383


0
2,409
14,452

16861


0
2,577
15,464

18041


0
0
O



1.477
4,432

5,910


0
2,758
16,546

19304


0
0

0


1,551
4,654

6,205


0
2,951
17,704

20655


0
0

0


1,629
4,887

6,516


1,340
4,020

5.360


1,407
4,221

5,628


PROJECTIONS










PROJECTIONS OF OPERATING EXPENSES


TITLE Rate 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 199;


PASTURE EXPENSES CONT'D.

Machinery Hire
Existing Pasture 0.o00 5,000r 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Other uses 6.00 1,I000 1,060 1,124 1,191 1,262 1,338 1,419 1,504 1,594 1,689 1,791

SUBTOTAL 6,000 6,060 6,124 6,191 6,262 6,338 6,419 6,504 6,594 6,689 6,791

Rent Cost/Acre
Native Range $10.00 0.00% 0 0 0 0 0 0 0 0 0 0 0
Sesi-improved 10.00 0.001 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Fully-iaprov. 10.00 0.00Z 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000

Conservation 00 3,00 3,150 3,308 3,473 3,647 3,829 4,020 4,221 4,432 4,654 4,887

SUBTOTAL 18,000 18,150 18,308 18,473 18,647 18,829 19,020 19,221 19,432 19,654 19,887


SUBTOTAL FOR PASTURE 56,500 59,385 62,512 65,901 69,577 73,565 77,891 82,586 87,684 93,219 99,231


REPAIRS, SUPPLIES AND UTILITIES
Repairs & Maintenance 5.00 10,000 10,500 11,025 11,576 12,155 12,763 13,401 14,071 14,775 15,513 16,289
Supplies 8.001 3,000 3,240 3,499 3,779 4,081 4,408 4,761 5,141 5,553 5,997 6,477
6as 4 Oil 4.002 5,000 5,200 5,408 5,624 5,849 6,083 6,327 6,580 6,843 7,117 7,401
Light, Power & Water 5.00; 2,000 2,100 2,205 2,315 2,431 2,553 2,680 2,814 2,955 3,103 3,258

SUBTOTAL 20,000 21,040 22,137 23,295 24,517 25,807 27,168 28,606 30,125 31,730 33,425


ADMINISTRATIVE
Real Estate Taxes,
Licenses, Etc. 2.00% 10,000 10,200 10,404 10,612 10,824 11,041 11,262 11,487 11,717 11,951 12,190
Insurance 5.00% 2,000 2,100 2,205 2,315 2,431 2,553 2,680 2,814 2,955 3,103 3,258
Telephone 5.00% 1,000 1,050 1,103 1,158 1,216 1,276 1,340 1,407 1,477 1,551 1,629
Office & Other 5.00; 25,000 26,250 27,563 28,941 30,388 31,907 33,502 35,178 36,936 38,783 40,722

SUBTOTAL 38,000 39,600 41,274 43,026 44,858 46,777 48,784 50,886 53,085 55,388 57,799

TOTAL CASH EXPENSES 209,500 218399 228794 240218 252527 265705 279783 294816 310873 328028 346366








STATEMENT T


Growth

INCOME RECEIPTS
Cattle
Sod
Timber & Pulp
Mares & Colts
Hogs
Seed
Hay
Stock Dividends
Miscellaneous


1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1990


239,223 279,993
0 0

0 0
0 0
0 0
10,000 10,700
:0 0
10,000 10,700

259,223 301,393


324,392
0
0
0

0
11,449
0 2
11,449

347,290


315,999
0
0
0
0
0

12,250
340500
12,250

340,500


358,987
0
0
0
0
0
13.108
0
13,108

385.203


391,019
0
0
0
0
0
14,026
0
14,026

419,070


390,286
0
0
0
0
0
13,OU/
0
15,007

420,300


'99,237
0

0
0
0
0
16,058
031353
16,058

431.353


505,919 590,100
0 0
0 0
0 0
0 0
0 0

17,182 18,385
54083 626,69
17,182 18,385

540,283 626,869


209,500 218,399 228,794 240,218


252,527 265,705 279,783 294,816


310,873 328,028 346,366


49,723 82,993 118,496 100,282 132,676 153,365 140,518 136,537 229,410 298,841


75,348
27,794
0
0

103,142


75,575
30,145
0
0

105,720


73,998
38,734
0
0

112,732


(53,419) (22,727) 5,764


0

(53,419)


0

(22,727Y


0

5,764


70,048
45,367
0
0

115,415

(15,133)

0

(15,133)


65.616
34,073
0
0

99.689


60,641
22,806
0
0

83,447


56,222
20,498
0
0

76,721


54,230
11,030
0
0

65,260


48,993
2,390
0
0

51,383


43,107
2,274
0
0

45,381


378,457


36.486
1,750
0
0

38,237


32.987- 69,918 63,797 71,277 178,027 253,460 .340,221


0

32,987


0

69,918


16,653

47,144


20,713

50,564


71,953

106,074


108,161

145,299


'149,806

190,415


STATEMENT OF RETAINED EARNINGS


BEGINNING BALANCE
GROSS RECEIPTS
CONTRIBUTIONS
NEW LOANS

(Minus)
LOAN PAYMENTS
INCOME TAX PAYMENT
WITHDRAWALS
CAPITAL EXPENDITURES

FUNDS FOR ADDITION
TO RETAIN EARNINGS

RETAINED EARNINGS


\300.OOP
49,723

25,000


271,587
82,993
10,000
14,200


98,336 102,741


0

9,800


0
5,350
17,010


253,679
118,496
10,000
0


106,680
0
5,725
76,174


193,597
100,282
10,000
0


106,680
0
6,125
1,158


189,916
132,676
10,000
0


106,682
0
6,554
0


219,356
153,365
10,000
0


96,971
0
7,013
5,233


273,504
140,518
10,000
22,500


96,963
16,653
7,504
0


325,402
136,537
10,000
0


97,014
20,713
8,029
0


346,183
229,410
10,000
0


97,014
71,953
8,591
0


408,035
298,841
10,000
0


97,036
108,161
9,192
0


502,486
378,457
10,000
0


57,068
149,806
9,836
0


(28,413) (17,908) (60,083) (3,681) 29,440 54,148 51,809 20,781 .i1,352 94,452 171,748


271,587 253,679 193,597 189,916 219,356 273,504


325,402 346,183 408,035 502,486 674,234


ENDING BALANCE)
2=5SS533=U22z=3S S 3S S S a a 333S22 3S3SS*SSS3SSSaaSSSS2222'2222222SSSSSfSS =S 2 3SSS53SS-


CASH EXPENSES


a85,480




0
)
372
0
19,j72

724. ::


GROSS RECEIPTS

(minus)
INTEREST EXPENSE
TOTAL COST RECOVERY
LOSS ON ABANDONMENT
BAD DEBTS OR OTHER

TOT. NON CASH ADJUST

PRETAX INCOME
(Minus)
INCOME TAX

AFTER TAX INCOME


zzxx==-=x2= --- =222 'll"x- zx =xzn-


INCOME E











TA X CALCULA T ION


Column I Column 2 Column 3 Column 4 Column 5 Column 6 Column 7 Column 8 Column 9


Col. I or
25,000
Taxable Whichever


Income

(53,419)
(22,727)
5,764
(15,133)
32,987
69!918
63,797
71,277
178,027
253,460
340,221


is less

(53,419)
(22,727)
5,764
(15,133)
25,000
25,000
25,000
25,000
25,000
25,000
25,000


Col. I
Less
;Col. 2

0
0
0
0
7,987
44,918
38,797
46,277
153,027
228,460
315,221


YEAR

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993


Col. 3 or
25,000
Whichever
is less

0
0
0
0
7,987
25,000
25,000
25,000
25,000
25,000
25,000


Col. 3
Less
Col. 4

0
0
0
0
0
19,918
13,797
21,277
128,027
203,460
290,221


201 of
Col. 2

(10,684)
(4,545)
1,153
(3,027)
5,000
5,000
5,000
5,000
5,000
5,000
5,000


Carry Forward
From Prev.
Year

(11,664)
(17,910)
(24,157)
(23,621)
(26,764)
(20,007)
(469)
0
0
0
0


22% of
Col. 4

0
0
0
0
1,757
5,500
5,500
5,500
5,500
5,500
5,500


Adjusted
Income
Tax

0
0
0
0
0
0
16,653
20,713
71,953
108,161
149,806


481 of Sum of
Col. 5 Col 6,7,8


0
0
0
0
0
9,561
6,623
10,213
61,453
97,661
139,306


(10,684)
(4,545)
1,153
(3,027)
6,757
20,061
17,123
20,713
71,953
108,161
149,806


Investment Income


Credit

980
1,701
617
116
0
523
0
0
0
0
0


Tax

(.11,664)
(6,246)
535
(3,142)
6,757
19,537
17,123
20,713
71,953
108,161
149,806


YEAR

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993


IN COME











N E T 0 R T H S T ATE N EN T


ASSETS
CURRENT
Feed
Seed
Supplies
Ferti ler
Cash & Savings
isce llaneous
Ret. Earnings
Stock
General
PCA

SUBTOTAL CURRENT


1983 1984 1985 1986 1987 1988


1989 1990 1991


1992 1993


5,000 5,350 5.725 6,125 6,554 7,013 7,504 8,029 8,591 9,192 9,836
0 0 0 0 0 0 0 0 0 0 0
5,000 5,350 5,725 6,125 6,554 7,013 7,504 8,029 8,591 9,192 9,836
0 0 0 0 0 0 0 0 0 0 0
20,000 21,400 22.898 24,501 26,216 28,051 30,015 32,116 34,364 36,769 39,343
0 0 0 0 0 0 0 0 0 0 0
271587 253679 193597 189916 219356 273504 325402 346183 408035 502486 674234

0 0 0 0 0 0 0 0 0
62,952 60,995 58.801 56,341 53,582 50,487 49,266 45,269 40,782 33,742 34,078

364,539 346,775 286,745 283,008 312,262 366,068 419,690 439,625 500,362 593,382 767,327


INTERMEDIATE
Cows 401,520 456,986 518,119 508,178 567,837 612,752- 613,415 627,210 773,166 888,735 1,019,477
Unbred 1-2 yr olds 69,262 85,259 99,363 98,424 110,373 119,257 119,442 122,149 150,584 173,096 198,562
Bulls 19,367 38,171 51.694 49,145 45,435 40,611 39,542 36,064 41,635 46.409 52,090
Horses 6,420 6,869 7,350 7,865 8,415 9,004 9,635 10,309 11,031 11,803
Machinery
& Equipment 15,720 26,019 23,894 17,119 9,980 8,841 4,628 2,732 1,570 523 (0)

SUBTOTAL INTERMEDIATE 511,869 612854 699938 680216 741490 789877 786032 797791 977263 1119793 1281932


Buildings
Other

SUBTOTAL FIXED

TOTAL ASSETS


%Appr.


3500000 3570000 3641400 3714228 3788513 3864283 3941568 4020400 4100808 4182824 4266480
20272 17838 15404 12969 10535 8100 5816 3682 2454 1227 0
7.001 0 0 0 0 0 0 0 0 0 0 0

3,520,272 3587838 3656804 3727197 3799047 3872383 3947384 4024081 4103262 4184051 4266480

4,396,681 4547467 4643487 4690422 4852799 5028328 5153106 5261497 5580888 5897226 6315739











NET O RTH STATE MENT


1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993

LIABILITIES


CURRENT
Accounts Payable
Notes Payable

SUBTOTAL CURRENT


1,000
3,000

4,000


1,070 1,145 1,225 1,311
3,210 3,435 3,675 3,932

4,280 4,580 4,900 5,243


INTERMEDIATE


LOCAL PCA CON PU
Local Bank
Tractor Loans IN
COUNTY BANK
STATE BANK
Not Defined
Not Defined
Not Defined
Not Defined
Not Defined

SUBTOTAL INTERMEDIATE

LONG TERM
Mortgage Fare Land
Mortgage Non-Farm

SUBTOTAL LONG-TERN

TOTAL LIABILITIES


NET WORTH

RETAINED EARNINGS
GWNER'S EQUITY

TOTAL NET WORTH

TOTAL LIAB &
NET WORTH


223,785
29,491
0
25,000
0
0
0
0
0
0

278276


468688
0

468688

750964




271587
3374130

3645717


209,392
23,321
14,200
23,575
0
0
0
0
0


193,098
16,410
11,965
21,979
0
0
0
0
0


174,655
8,671
9,462
20,191
0
0
0
0
0


0 0 0

270488 243452 212979


461553 45713 445095
0 0 0

461553 453713 445095

736321 701745 662974


253679
3557466

3811146


193597
3748145

3941742


153,777 130,142 103,398 73,114
0 0 0 0
6,658 3,518 0 0
18,189 15,947 13,436 10,623
0 0 24,750 23,637
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0

178624 149607 141584 107373


435624
0

435624

619491


189916 219356
3837531 4013952

4027447 4233307


425217
0

425217

580434




273504
4174389

4447894


413778 401207
0 0

413778 401207

561365 515004


0
0
7,473
22,376
0
0
0
0
0

68680


387392
0

387392

462946


325402 346183 408035 502486
4266340 4400311 4709907 4990281

4591741 4746493 5117942 5492768


4:60o81 4547467 4643487 4690422 4852799 5028328 5153106 5261497 5580888 5897226 6315739


1,403
4,208

5,610


1,501
4,502

6,003


1,606
4,817

6,423


1,718
5,155

6,873


1,838
5,515

7,354


1,967
5,901

7,869


0
0
0
3,945
20,951
0
0
0
0
0

24896


372209
0

372209

404459


0
0
0
0
19,336
0)
0
0
0


19336


674234
5258777

5933011


"'








INSTRUMENTS OF CAPITAL AND FINANCIAL MANAGEMENT RATIOS


1983 1984 1985 1986 1987


1988 1989 ?90


1991 1992 1993


PROFITABILITY


RETURN ON EQUITY



GROWTH OF EQUITY


5ROSS RATIO


After Tax incose

Net Worth


Increase in Net Worth

Previous Year's N.4.

Total Cash Expenses
6ross Receipts
Gross Receipts


-1.471 -0.60%


0.15Z -0.381 0.782


1.571 1.031 1.071 2.077 2.65% 3.21:


N/A 4.541 3.43% 2.17% 5.11% 5.07% 3.23: 3.37% 7.831 7.321 3.01:



0.808 0.725 0.659 0.705 0.656 0.634 0.666 0.683 0.575 0.523 ). 78


After Tax Income
PROFIT MARGIN
Gross Receipts


HERD EFFICIENCY



LAND EFFICIENCY


Pretax Income

I of Mother Cows

Pretax Income

Total Acreage


-0.206 -0.075



-53.42 -22.61


0.017 -0.044 0.086 0.167 0.112 0.117 0.196 0.232 0.263



5.65 -14.58 31.19 64.85 58.02 63.57 155.68 217.34 286.06


-10.68 -4.55 1.15 -3.03 6.60 13.98 12.76 14.26 35.61 50.69 68.04


L I UID ITY R ATIOS


Current Assets
CURRENT RATIO -- ---
Current Liabilities


91.13 81.02 62.61 57.75 59.56 65.25 69.91 68.44 72.80 80.69 97.52


INTERMEDIATE RATIO =


Curr. + Intern. Assets
-- 3.15
Short + Intere. Debts


3.55 4.05 4.52 5.90 7.73 8.52 11.52 21.51 68.81 105.98


SOLVENCY


BALANCE LEVERAGE



LEVERAGE RATIO
(DEBT/EQBITY)


ASSET/LIABILITY
RATIO


Total Liabs + Net North
S---- -- 1.21 1.19 1.18 1.16 1.15 1.13 1.12 1.11 1.09 1.07 1.06
Net Worth

Total Liabilities
= --------- 0.206 0.193 0.178 0.165 0.146 0.I13 0.122 0.109 0.090 0.074 0.065
Net Worth


Total Assets
Total Liabilities-------------
Total Liabilities


5.85 6.18 6.62 7.07 7.83 8.66 9.18 10.22 12.06 14.58 16.50









COST RECOVERY


1 CHOPPER
2 HORSE TRAILER
3 TURBO PUMP
4 3 H.P. MOTOR
5 HOWIN MACHINE
a 4 TON FEEDERS
7 MOLASSES LICK
8 FEED. AGON
9 2-5000 GALLON TANKS
10 TURBINE PUMP
111979 IH 684
12 JOHN DEERE 5020
-13 GMC DETROIT ENGINE
14 WINDMILL
15 CHAIN SAW
16 OFFICE FURNITURE
17 AIR CONDITIONER
18 00SENECK TRAILER
19 MISC > $1000
20 MISC <$1000
21"
22
23
24
25
26
27
28
29
30


I Year Years of Purchase Past Future Tax
a NAME Srowth Purch. Life Price Purchas Price Credit
il In In In I I --i iL I I


0% 1976 5 $2,000
0% 1978 5 $1,000
0% 1979 5 $2,000
0% 1979 5 $300
0% 1980 5 $5,000
0% 1981 5 $5,500
0% 1981 5 $500
0% 1982 5 $3,100
5% 1983 5 $3,600
5X 1983 5 $4,500
5% 1984 5 $8,300
5% 1984 5 $5,900
5% 1985 5 $5,400
5% 1984 5 $2,000
51 1985 5 $200
0% 1983 5 $1,700
5Z 1986 5 $1,000
5% 1988 5 $4,100'
0% 1975 5 $7,425
5% 1977 5 $14,700


2000
1000
2000
300
5C00
5-^A
500
3100
0
0
0
0
0
0
0
0
0
0
7425
14700
0
0
0
0
0
0
0
0
0
0


Y E A R


1983 1984 1985 198a


0
0
0
0
0
0
0
0
3600
4500
8715
6195
5954
2100
221
1700
1158
5233
0
0
0
0
0
0
0
0
0
0
0
0


0 0
0 0 )
200 0 )
30 0 0
1000 500 0
1100 1100 550
100 100 50
620 620 620
720 720 720
900 q00 O00
872 1743 1713
620 1239 1239
0 595 119i
210 420 420
0 22 44
340 340 340
0 ) 116
0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0
0 0 0'
0 0 0
0 0 0








COST RECOVERY


YEAR
Year
Growth Purch. 1987 1988 1989 1990 1991 1992


Past
Cost
1993 Recovery


1 CHOPPER
2 HORSE TRAILER
3 TURBO PUMP
4 3 H.P. MOTOR
5 MOWIN MACHINE
6 4 TON FEEDERS
7 MOLASSES LICK
8 FEED WAGON
9 2-5000 GALLON TANKS
10 TURBINE PUMP
11 1979 IH 684
12 JOHN DEERE 5020
13 6MC DETROIT ENGINE
14 WINDMILL
15 CHAIN SAW
16 OFFICE FURNITURE
17 AIR CONDITIONER
18 GOOSENECK TRAILER
19 MISC ) $1000
20 MISC < $1000


01 1976 0 0 0 0 0 0 0 2000


0Z 1978 0 0 0 0 0
0% 1979 0 0 0 0 0
01 1979 0 0 0 0 0
01 1980 0 0 0 0 0
30 1981 0 0 0 0 0
)Z 1981 0 0 V 0 0
,I 1982 310 0 0 0 0
5: 1983 720 360 0 0 0
5n 1983 900 450 0 0 0
5: 1984 1743 1743 872 0 0
51 1984 1239 1239 620 0 0
5; 1985 1191 1191 1191 595 0
52 1984 420 420 210 0 0
!5 1985 44 44 44 22 0
01 1983 340 170 0 0 0
5% 1986 232 232 232 232 116
52 1988 0 523 1047 1047 1047
30 1975 0 0 0 0 0
5? 1977 0 0 0 0 0
0 0 0 0 0
0 0 0 0 0


0 0 0
0 0 0
0 0 0
0 0 0
0 0 0


0 0
0 0
0 0
0 0
0 0


0 0 0 0 0 0 0 0


0 0
0 0


0 0 0
0 0 0
0 0 0 O


NAME


0 P00
0 1400
0 210
0 2500
0 o150
0 LJv
0 310
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
523 0
0 7425
0 14700
0 0
0 0












NAME


I RANCH OFFICE
2 BARN
SNELL
4-


Past Future Tax
Growth Purch. Life Price Purchas Price Credit 1983 1984


0% 1976
10 1980
10% 1979


15 $27,000 2700
15 $5,000 500
10 $3,000 300


16


1985 1986


m m m m m m mmmm m


Past Future Tax
Growth Purch. Life Price Purchas Price Credit 1983 1984


1 BROOD CONS 750 i$600
2 BULLS
3 150 PURE BRED HEIFERS 3700
4 100 PURE BRED HEIFERS @700


0% 1975
0% 1976
5% 1982
0% 1985


5 $450,000 450000
5 $30,000 30000
5 $105,000 105000
5 $70,000 0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0


0
0
0
70000
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0


0 0 0 0 0
-0 0 0 0 0
0 21000 21000 21000 21000
7,000 0 0 7000 14000
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 .0
0 0 0 0 0
0 0 0 0 0
C 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 "0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 C
0 0 0O 0 0
0 0 0 0 0 i
0 0 0 0 0 O

0 0(5 0 0 0 ;


1985 1986


0 0 0 1801 IROI
O0 0 0 334 334
0 0 0 300 30
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0


-


--


)II I I I I II I I I I I


- 'I I


l m ll m m m m m m m m mm m m m mm m m m m m .. .










Past
Cost
Growth Purch. 1987 1988 1989 1990 1991 1992 1993 Recovery


1 RANCH OFFICE
2 BARN
3 WELL
4
5
6
7
8.
9
10
11
12
13
14
15
16
17
18
19
20


OZ 1976 1801 1801 1801 1801
101 1980 334 4 33 4 3 334
10% 1979 300 300 150 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0


1987 1988 1989 1990 1991


Past
Cost
1992 1993 Recovery


1 BROOD CONS 750 81600
2 BULLS
3 150 PURE BRED HEIFERS 8700
4 100 PURE BRED HEIFERS 3700 ,
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20


0% 1975 0 0 0 0
0% 1976 0 0 0 0
5% 1982 10500 0 0 0
0% 1985 14000 14000 14000 7000
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0


NAME


894 9912
334 1332
0 1050
0 0
0 0
0 0
0 0
u 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0


Growth Purch.


0 450000
0 30000
0 10500
0 0
0 0
0 0
0 0
0 0
0 0
0 0
C 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0
0 0









LIABILITY I ES


BEEFLOAN L I ABIL I T I ES
Year Loan Starteds
Loan number: I Initial Loan Aat.:
Name of Loan: LOCAL PCA COW PURCHAI PCA Stock ? (%):
Interest Rt.: 112.00%. Cash Received:
Amortization Amount = I|2T7dbO5lI Principal Remain.:
for 10 Years 'n939 Delinquent Int.s
Year Ending Payments Curr.Int. Del.Int. Principal

1983 39,939 28,380 0 203,441
1984 39,939 26,854 0 190,356
1985 39,939 25,127 0 175,544
1986 39,939 23,172 0 158,777
1987 39,939 20,959 0 139,797
1988 39,939 18,453 0 118,311
1989 39,930 15,617 0 93,998
1990 39,939 12,408 0 66,467
1991 39,939 8,774 0 35,301


1992
1993


39,961
0


4,660
0


i500,000
10%
$450, W
$215,000

ENN AL.

203,441
190,356
175,544
158,777
139.797
118,311
93.998
66,467
35,301
0
0


BEE FL AN
*


Loan number: 2
Name of Loan: Local Bank
Interest Rt.: 12.00%
Amortization Amount -
for 10 Years -
Year Ending Payments

1983 9,709
1984 97709
1985 9,709
1986 9,709
1987 9,711
1988
1989
1990
1991
1992
1993


$35,0
61
Curr. In

4,2
3,5
2,7
1,9
1,0


LIA ILITIES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received:
*00 Principal Remain.:
94 Delinquent Int.:
it. Del.Int. Principal

00 0 29,491
39 0 23,321
'99 0 16,410
69 0 8,671
A41 0 0
O 0 O
0 0 0
0 0 0
0 0 0
0 o 0
0 0 0
O O O


1980
$50,000
0%
$50, 000
$35,000
$0
ENDING BAL.

29,491
23,321
16,410
8,671
0
0
0

0
C)


I NTER M E D I T E










LIABILITIES


BE EFLOAN


L I


Loan number: 3
Name of Loan: Tractor Loans IH & J
Interest Rt.: 12.00%
Amortization Amount = $14,200
for 10 Years = 2513
Year Ending Payments Curr.Int.

1983 0 0
1984 0 0
1985 3,939 1,704
1986 3,939 1,436
1987 3,939 1,135
1988 3,939 799
1989 3,940 422
1990 0-
1991 0
1992 0
1993 0


B EE F L OAN


Loan number: .
Name of Loan: COUNTY BANK
Interest Rt.: 12.00%
Amortization Amount =
for 10 Years =
Year Ending Payments

1983 0
1984 4,425
1985 4,425
1986 4.425
1987 4,425
1988 4,425
1989 4,425
1990 4,425
1991 4,425
19?2 4,425
lo93 4,418


$25,C
44
Curr. In


3,C
2,
2S,6
2,4
2,1
1,9
l,6
1,2
E


ABILITIES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received:
Principal Remain.:
Delinquent Int.:
Del.Int. Principal

0 0
0 14,200
0 11,965
0 9,462
0 6,658
0 3,518
0 0
0 0
0 0
0 0
0 0


LIABILITIES
Year'Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received:
00 Principal Remain.:
)25 Delinquent Int.:
it. Del.Int. Principal

0 0 25,000
)00 0 23,575
329 0 21,979
37 O 20,191
123 0 18,189
.83 0 15,947
14 0 13,436
12 10, 623
75 0 7,473.
397 O 3,945
173 0 0 O


1984
$14 200
0%
$14,200
$14, 200
$0
ENDING BAL.

0
14,200
11,965
9,462
6,658
3,518

O
(-)
0
0
0
0-


1983
$25. 000
07%
$25,000
$25,000
$0
ENDING BAL.

25, 000
23,575
21,979
20,191
18,189
15,947
13, 436
10, 623
7,473
3. 45


I TERMED I TE











I TERMED I TE


B E E F L O A N


Loan number: 5
Name of Loan: STATE BANK
Interest Rt.: 12.00%
Amortization Amount =
for 10 Years =
Year Ending Payments

1983
1984
1985
1986
1987
1988
1989
1990 3,982
1991 3,982
1992 3,982
1993 3,982


$22,
41
Curr.Ir









2,
2,
2,.
2,


LIA ABILITIES


LIABILITIES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received:
300 Principal Remain.:
180 Delinquent Int.:
t. Del.Int. Principal

O 0- O-
0 0 0
0 0 0.
0 0' 0

0 0 0
0 0 0
0 0 22,500
?70 0 21,488
336 0 20,342
685 o 19,0(46
514 0 17,578


1989
$25,000
10%
$22,500
$22,500
$0
ENDING BAL.


0
O
C-)
0
0

22,500
21,488
20,342
19,046
17,578


B E E FLOAN L

Loan number: 6
Name of Loan: Not Defined
Interest Rt.:
Amortization Amount = $0
for 10 Years = 0
Year Ending Payments Curr.Int.
----------- --------- ---------
1983 0
1984 0
1985 0
1986 0
1987 0
1988 c
1989 0
1990 0
1991 0
1992
1993 0


I A B I L I T I E S
Year Loan Started:
Initial Loan Amt.:
PCA Stock ?. (%):
Cash Received: $0
Principal Remain.:
Delinquent Int.:
Del.Int. Principal ENDING BAL.
--- - - - - - -











I TERMED I TE


BEEFLOAN

Loan number: 7
Name of Loan: Not Defined
Interest Rt.:
Amortization Amount =
for 10 Years =
Year Ending Payments Curr.Ir

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993













BEE FLOAN

Loan number: 8
Name of Loan: Not Defined
Interest Rt.:
Amortization Amount =
for 10 Years =
Year Ending Payments Curr.Ir
---------- --------- -------
1983
1984
1985
1986
1987
1988
1989
1991
1q92


LI AB L I T I ES


LIABILITY I ES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received: $0
$0 Principal Remain.:
0 Delinquent Int.:
it. Del.Int. Principal ENDING BAL.


0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 C
0 0 0 0
0 0 0 0







L I A B I L I T I E S






LIABILITIES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%),:
Cash Received: $0
$0 Principal Remain.:
0 Delinquent Int.:
it. Del.Int. Principal ENDING BAL.
-- - - - - - -











LIABILITY I ES


B E E F L A N

Long Term Mortgage
Name of Loan: FEDERAL LAND BANK
Interest Rt.: 9.00%
Amortization Amount = $432
for 10 Years = 7
Year Ending Payments Curr.

1983 48,688 42
1984 48,668 42
1985 48.668 41
1986 48,668 40
1987 48,668 40
1988 48,668 39
1989 48,668 38
1990 48,668 37
1991 48,668 36
1992 48,668 34
1993 48,668 33


0C
Ir


,7
, 1





, 1
,E
,


LIABIL I TIES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received:
)00 Principal Remain.:
)04 Delinquent Int.:
>t. Del.Int. Principal

'68 0 426, 080
.82 0. 419,594
40) 0 412,466
334 0 404,632
)59 ) 396,022
206 0 386,561
270 0 376,162
240 0 364,734
09 0 352,175
365 0 338,372
499 0 323,203


1975
$500,000(:
1 C-)
$450, 00
$432,000
$0
ENDING BAL.

426,080
419,594
412,466
404,632
396,022
386,561
376,162
364,734
352,175
338,372
323,203


B EEFLO AN


Long Term Liabilities
Name of Loan: Not Defined
Interest Rt.:
Amortization Amount =
for 10 Years =
Year Ending Payments

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993


Curr.In


LIABILITY I ES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%): 0
Cash Received: $0
$0 Principal Remain.:
0 Delinquent Int.:
It. Del.Int. Principal ENDING BAL.

0 0 0 0
0 0 0 0
0 0 0< 0(
0 0 0 0
0 0 0 0
(:) 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
o 0 C) ''
)0 C) I


/.


LONG TER M











INTERME D I TE


BEEFL AN


Loan number: 9
Name of Loan: Not Defined
Interest Rt.:
Amortization Amount =
for 10 Years =
Year Ending Payments

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993


Curr.In


BEEFL AN


Loan number: 10
Name of Loan: Not Defined
Interest Rt.:
Amortization Amount =
for 10 Years =
Year Ending Payments

1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993


Curr.In


LIABILITIES


LIABILITY I ES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (%):
Cash Received:
$0 Principal Remain.:
0 Delinquent Int.:
it. Del.Int. Principal


LIABILITIES
Year Loan Started:
Initial Loan Amt.:
PCA Stock ? (.):
Cash Received:
$0 Principal Remain.:
O Delinquent Int.:
t. Del.Int. Principal


ENDING BAL.


$0


ENDING BAL.















Ordering information


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LIBRARy

































































This public document was produced at a cost of $279.72, or $1.40 per copy, to provide information about a microcomputer
ranch financial analysis. 8-0.2M-85



COOPERATIVE EXTENSION SERVICE, UNIVERSITY OF FLORIDA, INSTITUTE OF FOOD AND AGRICULTURAL
SCIENCES, K. R. Tefertlller, director, in cooperation with the United States Department of Agriculture, publishes this Infor-
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