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Financial Statements-Case Farm

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					                                                         Financial Statements
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This spreadsheet contains the following financial statements and schedules.

 1   Beginning fiscal year balance sheet with schedules and deferred tax calculations.
 2   Ending fiscal year balance sheet with shcedules and deferred tax calculations.
 3   Monthly Cash Flow Statement with schedules.
 4   Income statement (both cash and accrual adjusted)
 5   Statement of Cash Flows
 6   Statement of Owner Equity
 7   Valuation Equity Statement
 8   Financial ratios and measures calculated according to the Farm Financial Standards Guidelines (FFSG)
 9   Print Macros to print all, or a portion of this spreadsheet.

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

You can select any of these financial statements by clicking on the page tabs at the bottom of the screen.
To scroll page tabs, use the left and right set of arrows in the lower left corner of the screen.
                Duane Griffith
                Montana State University
                210 Linfield Hall
                Bozeman, MT 59717
                griffith@montana.edu
                August of 1999
                Check for updates to this spreadsheet at:
                http://www.montana.edu/wwwextec/software/software.htm


elines (FFSG)




ever, some

w. Please
old data that
             nter     e         w
            E Nam of Farmor O ner(s) CaseFarmRanch
                 nter
               E theB          heet
                        alanceS Date     December 31, 1995
                                                        This Shading Means CalculatedCell
                                                        This S                 ntry
                                                              hading Means NoE Here


                                                                                                                       Current
ScheduleA-- Cash, Checking, S                   nly
                             avings, CD's (FarmO )                                                                     Balance
       ook alance
CheckB B                                                                                                                 13000
UndepositedCheck  s                                                                                                          0
CashonHand                                                                                                                   0
 av
S ings A ccounts andCD's                                                                                                  8700
MoneyMark  et                                                                                                            12500
                                                               ing, av        v
                                              Total Cash, Check S ings, CD's A ailable                                   34200

ScheduleB -- Prepaid Expenses and Supplies
                                                                      Quantity                     Fair
                                                                      Bu./Ton Cost     Total       Mark et              Mark et
Descriptionof Item                                                      t/G     er
                                                                      Cw al P Unit Cost            Value/Unit            Value
Diesel                                                                   500      1.00     500.00        1.00            500.00
Gas                                                                      500      1.00     500.00        1.00            500.00
 il
O andLub                                                                  40      5.00     200.00        5.00            200.00
Misc                                                                        1   800.00     800.00      800.00            800.00
Seed                                                                     500      6.00   3,000.00        6.00          3,000.00
 alt
S andMineral                                                              2.5   320.00     800.00      320.00            800.00
                                                                                              0.00                         0.00
                                                                                              0.00                         0.00
                                                                                              0.00                         0.00
                                                                                              0.00                         0.00
                                                                                              0.00                         0.00
Total Cost of P       x
               repaidE penses andSupplies                                                    5,800
                et alue repaidE penses andS
Total Fair Mark V P             x          upplies                                                                        5,800

S                        row
 cheduleC-- Invested in G ing Crops
                                                                                 Quant.
                                                                     Input Item   O f          Price        Num ber       Total
Crop                                                                  Material Material        er
                                                                                              P Unit         Acres      Invested
 . heat
WW                                                                       seed      1.00           6.00       840.00       5040
 . heat
WW                                                                 fert            1.00          12.00       840.00      10080
 . heat
WW                                                                 fuel            1.00       1725.00          1.00       1725
Ww heat                                                            Interest        1.00           0.60       840.00        504
 um er
S m Fallow                                                                         1.00           5.40      2000.00      10800
                                                                         0.00      0.00           0.00         0.00           0
                                                                         0.00      0.00           0.00         0.00           0
                                                                         0.00      0.00           0.00         0.00           0
                                                                         0.00      0.00           0.00         0.00           0
                                                                         0.00      0.00           0.00         0.00           0
                                                                         0.00      0.00           0.00         0.00           0
                                                                         0.00      0.00           0.00         0.00           0
                                                        Total Inv            row
                                                                 estedinG ing Crops                                      28149

ScheduleD-- Receivables A                 ov. ay
                         ccounts, Notes, G P ments (Current)
Accounts Receivable                                     Date                      Interest    A ount
                                                                                               m           Accrued        rin.
                                                                                                                        P &
      able
Receiv From                            Description       Due                       Rate      Receivable    Interest     Int. Due
JoeDok es                                w
                                       S athing      10-01-90                          0        2200             0        2200
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                              Total Accounts Receivable                         2200             0        2200
Notes Receivable                                                     Date         Interest    A ount
                                                                                               m           Accrued        rin.
                                                                                                                        P &
      able
Receiv From                                   Description            Due           Rate      Receivable    Interest     Int. Due
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                              Total Notes Receivable                                            0             0
 ov ent ay ents
G ernm P m Receivable                                                                                       Total       B alance
      able
Receiv From                                   Description                                                   ay ent
                                                                                                           P m            Due




                                                     ov ent ay ents
                                              Total G ernm P m                                                   0
                                                     ov ent ay ents
                                              Total G ernm P m Receivable                                                    0

S            IK
 cheduleE-- P Certificates                                                                     x
                                                                                              E pected
                                                            Cost       Face                    rem
                                                                                              P ium
                                                              if       Value       E pir.
                                                                                    x            bov
                                                                                               A e          Market
Crop                             Description                Purch.     Recvd       Date       Cost/Face     Value
                                                                0          0           0            0           0
                                                                0          0           0            0           0
                                                                0          0           0            0           0
                                                                0          0           0            0           0
                                                                0          0           0            0           0
                                                                0          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 of Certs Purchsed                                          0
       alue
FaceV of Certs Receiv  ed                                                    0
    et alue urchasedandReceiv Certs
Mark V of P                  ed                                                                                  0
ScheduleF-- Securities ReadilyMarketable
                                                        Number        Original    Mark et      Total         Fair       Percent
                                                          of           Cost        Price      Original      Mark et       To
Description                                             Shares         er
                                                                      P Unit      P Unit
                                                                                   er          Cost         V alue     Non-Farm
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
                                                           0               0           0            0            0       100%
      asis
Cost B of Mark etableS ecurties                                                                     0
    et alue
Mark V of ReadilyMark    etableS  ecurities                                                                      0
 alue
V of FarmP  ortion(Cost &Mark   et)                                                                 0            0
 alue
V of Non-FarmP   ortion(Cost &Mark   et)                                                            0            0
S                             ale
 cheduleG-- Crops Held For S or Feed (Raised & Purchased) - FreeS tocks
                                                          Q  uan. Required                                 Mark  et       Fair
                                                        B u.-Tons      For A ailable
                                                                            v                               Price        Mark et
Raised Crops/Feed Held for Sale                            Cw  t.     Feed ToS   ell                        er
                                                                                                           P Unit        V alue
Wheat                                                     36000             36000                             3.20      115200
Barley                                                    13485             13485                             4.00       53940
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
Raised Crops/Feed Held for Feed Use
                                                                                                                            0
Barley                                                                   627         627            0         4.00      2508
Hay                                                                      400         400            0        70.00     28000
Straw                                                                    300         300            0        25.00      7500
                                                                                                                            0
                                                                                                                            0
                                                                                                                            0
                                                                                                                            0
                                                                                                                            0
                                                                                                                            0
                                                                                                                            0
                                                                                                                            0
                               Total FMVRaisedCrops andFeed                                                           207148
                                                 Q uan. P urchase                                                       Fair
                                                B          rice er
                                                 u./Tons P P                       Total      A ailable
                                                                                               v            Mark  et   Mark et
Purchased Crops/Feed Held for Sale                Cw t      Unit                   Cost       ToS   ell    Price/Unit V  alue
                                                     0          0                     0              0         0.00         0
                                                     0          0                     0              0         0.00         0
                                                     0          0                     0              0         0.00         0
                                                     0          0                     0              0         0.00         0
                                                     0          0                     0              0         0.00         0
                                                     0          0                     0              0         0.00         0
Purchased Crops/Feed Held for Feed Use
                                                     0          0                      0            0         0.00           0
                                                     0          0                      0            0         0.00           0
                                                     0          0                      0            0         0.00           0
                                                     0          0                      0            0         0.00           0
                                                     0          0                      0            0         0.00           0
                                                     0          0                      0            0         0.00           0
                                                     0          0                      0            0         0.00           0
      alue urchasedCrops
Cost V of P                                                                            0
    et alue urchasedCrops
Mark V of P                                                                                                                  0
S                   ther overnment S
 cheduleH-- CCCand O G              tored Grain
                                                                    Units                       Total        Total     Total
Grain                                          Year      Loan      S ealed         Market      Dollars       Loan     Mark et
Description                                   Sealed Rate          T/C/B U         Price        Equity       m
                                                                                                           A ount      Value
Wheat                                         1988       2.45       20000            2.85      8,000.00   49,000.00 57,000.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                  0         0            0           0.00          0.00        0.00      0.00
                                                   quity ov ent rain
                                 Total Dollars of E inG ernm G                                    8,000
                                              m
                                 Total LoanA ount A   gainst Crops                                           49,000
                                            et alue rain
                                 Total Mark V of G Under Loan                                                            57,000

S                                ale
 cheduleI -- Livestock Held for S (Raised and Purchased)
RaisedLivestock                                                                              v
                                                                                           A erage          Mark et     Total
                                                                               Num   ber   W  eight         rice er
                                                                                                           P P          Market
Description                                                                      nim
                                                                               A als inP       ounds        P ound      Value
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                                                      0          0.0           0.00       0.00
                                                             et alue
                                              Total Fair Mark V of RaisedLiv    estock                                       0
PurchasedLivestock                                                 A erage
                                                                     v           Cost       Mark  et                    Total
                                                         Num ber W    eight      P er     P P
                                                                                            rice er          Total      Market
Description                                               nim
                                                         A als inLB      s      P ound      P ound           Cost       Value
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                              0         0.0        0.00         0.00           0.00       0.00
                                                     alue urchasedLiv
                                              Cost V of P               estockfor S ale                            0
                                                        et alue urchasedLiv
                                              Fair Mark V of P                estockfor Sale                                  0

ScheduleJ -- Breeding Livestock (Raised and Purchased)
RaisedB  reeding Lvstk                                                                         Wieght         t alue Total
                                                                                                          Mrk V
            ativ       et alue asis
UseConserv eMark V for B                                                  Num ber               P er       (B  asis)  Mark et
Description                                                                nim
                                                                          A als                 nim
                                                                                               A al        er nim
                                                                                                          P A al V      alue
Rep. Heifers                                                                   70                950.0       700.00 49,000.00
Cow s                                                                        350               1,100.0       700.00 ########
 x
E cess RepHeifers                                                              10                950.0       500.00 5,000.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                                                0                   0.0         0.00     0.00
                                                et alue
                                 Total Fair Mark V of RaisedB  reeding Stock                                         299,000
Purchased                                              v
                                                      A erage Cost                                          Mark  et   Total
Breeding Lvstk                               Num ber W  eight/  P er       ccum
                                                                          A .                  Original     alue er Mark
                                                                                                          V P              et
Description                                   nim
                                             A als A al nim     nim
                                                               A al        Dep.                 Cost          nim
                                                                                                            A al       Value
Bulls                                           10 1,500.0 2,000.00          0.00             20,000.00    2,000.00 20,000.00
Horses                                            5 1,100.0    400.00 2,000.00                 2,000.00    1,000.00 5,000.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
                                                                                                   0.00                  0.00
               ook alue urchasedB
Total Cost or B V of P             reeding S tock                                   2,000        22,000
          et alue urchasedB
Total Mark V of P            reeding Livestock                                                                           25,000
S                     ,
 cheduleK -- Machinery Trucks, Pickups, Autos and Livestock Equipment
                                   Year                        Cost                                                   stim
                                                                                                                     E ated
 ow
P ered                             Make         Date Percent    or      A nnual                  ccum
                                                                                               A .           Book     Mark et
           Equipment               Model       A       w
                                                cqurd O ned   B asis    Deprec.                Deprec.      V alue     Value
Com  bine                                     7/89     100 110,000.00 10,083.00               20,160.00   89,840.00 85,000.00
Stieger                                       7/88     100 97,000.00 4,139.00                 12,417.00   84,583.00 75,000.00
JD165hp                                       3/88     100 66,000.00 1,159.00                  3,477.00   62,523.00 60,000.00
JD100hp                                       7/90     100 41,000.00 1,303.00                  1,303.00   39,697.00 35,000.00
Case55hp                                      6/82     100 19,000.00     760.00                6,840.00   12,160.00 5,000.00
 w
S ather                                       1/86     100 22,000.00     873.00                4,365.00   17,635.00 15,000.00
HarrowB  ed                                   5/90     100 30,000.00 1,000.00                  1,000.00   29,000.00 25,000.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                   Year                        Cost                                                   stim
                                                                                                                     E ated
                                   Make         Date Percent    or    A nnual                    ccum
                                                                                               A .           Book     Mark et
  plem
Im ents                            Model       A       w
                                                cqurd O ned   B asis  Deprec.                  Deprec.      V alue     Value
Tool B ar                                     3/90     100 16,000.00 2,640.00                  2,640.00   13,360.00 10,000.00
Harrow40'                                     3/90     100   2,500.00  309.00                    309.00    2,191.00 2,000.00
Chiesel                                       6/89     100 16,000.00   660.00                  1,320.00   14,680.00 12,000.00
Drill 35'                                     7/88     100 27,000.00 3,536.00                 10,608.00   16,392.00 14,000.00
Baler                                         5/80     100   9,500.00  467.00                    467.00    9,033.00 6,000.00
 pray
S er                                          1/86     100   5,500.00  727.00                  3,635.00    1,865.00 1,000.00
Rodw   eeder                                  3/90     100   2,750.00  103.00                    103.00    2,647.00 2,000.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                   Year                       Cost                                                    stim
                                                                                                                     E ated
 ick
P ups &                            Make         Date Percent   or     A nnual                    ccum
                                                                                               A .           Book     Mark et
Trucks                             Model       A       w
                                                cqurd O ned  B asis   Deprec.                  Deprec.      V alue     Value
Chev2t                                        7/90     100 20,000.00 2,160.00                  2,160.00   17,840.00 15,000.00
Ford2t                                        1/87     100 14,000.00   952.00                  3,808.00   10,192.00 9,000.00
834x 4                                        12/89    100 14,000.00 3,360.00                  5,040.00    8,960.00 7,000.00
834x 4                                        12/89    100 14,000.00 3,360.00                  5,040.00    8,960.00 7,000.00
801/2t                                        5/90     100 10,000.00 1,600.00                  1,600.00    8,400.00 6,000.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                   Year                       Cost                                                      stim
                                                                                                                       E ated
                                   Make         Date Percent   or     A nnual                    ccum
                                                                                               A .           Book       Mark et
Livestock                          Model       A       w
                                                cqurd O ned  B asis   Deprec.                  Deprec.      V alue       Value
Miscellaneous Equipment                       1/87     100 15,000.00 1,500.00                  6,000.00    9,000.00    9,000.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                 Total Cost or Basis         551,250
                                 Total Annual Depreciation              40,691
                                        ccum
                                 Total A ulatedDepreciationToDate                               92,292
                                        ook alue
                                 Total B V of MachineryandE    quipment                                     458,958
                                        stim         et alue
                                 Total E atedMark V of MachineryandE     quipm ent                                      400,000
S cheduleL -- Real Estate
  w
O ned                                                                                                                 stim
                                                                                                                     E ated
Descrip.                           Percent Date                       Cost or      Annual      A .
                                                                                                ccum         Book     Mark et
  are
B Land                              w
                                   O ned A cquir.           Acres      Basis       Dep.         Dep.         Value     Value
range                                100 4/65               5000      180,000                               180,000 375,000
crop3500                             100 6/65               3500      315,000                               315,000 1,050,000
hay                                  100 6/65                500       18,000                                18,000 162,500
crop500                              100 3/80                500      135,000                               135,000 150,000
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                   Percent Date                       Cost or      Annual      A .
                                                                                                ccum         Book       Market
Buildings                           w
                                   O ned A cquir.           Acres      Basis       Dep.         Dep.         Value      Value
 hop 50
S 30x                                100 5/81                          18,000         900        9,000        9,000
   100
50x shop                             100 4/85                          25,000       1,250        7,500       17,500
grainstr                             100 3/87                          20,000       1,000        4,000       16,000
garage                               100 5/90                           4,000         200          200        3,800
misc                                 100 /76                           20,000       1,000       14,000        6,000
                                                                                                                  0
                                                                                                                  0
    et alue uldngs &Im nts
Mark V B              prm                                                                                         0     150,000
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                   Percent Date                       Cost or      Annual      A .
                                                                                                ccum         Book       Market
  prov ents
Im em                               w
                                   O ned A cquir.           Acres      Basis       Dep.         Dep.         Value      Value
range                                100 1965                          20,000         666       17,342        2,658
crop3500                             100 1965                          35,000       1,167       30,342        4,658
hay                                  100 1965                           2,000          67        1,742          258
crop500                              100 1980                          15,000         500        5,500        9,500
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
                                                                                                                  0
Houses
Dads                                                                   55000                                 55000
                                                                                                                 0
                                                                                                                 0
                                 Total Acres            9,500
                                 Total Cost or Basis             862,000
                                 Total Annual Depreciation                          6,750
                                        ccum
                                 Total A ulatedDepreciationonR. E     .                          89,626
                                        ook alue
                                 Total B V of Real E       state                                        772,374
                                        stim         et alue
                                 Total E atedMark V of Real E        state                                       1,887,500
LeasedandRented                                                                                         Current A   ccrued
Land                                                      Type                                 A nnual  P ortion Rent and
                                                           of     Date                          Cash Rent/Lease Lease
Description/ Landlord                                             x
                                                         Lease E pires             Acres        Rent      Due       ay ents
                                                                                                                  P m
Jones Place                                             Cash   11/92             3,750.00     12,000.00 2,000.00 2,000.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                        cres
                                 Total A Rented                                     3,750
                                 Total Annual CashRents andLeases                               12,000
                                 Current A                     ay ents
                                          ccruedRent andLeaseP m                                                          2,000

ScheduleM-- Securities Not ReadilyMarketable
                                                        Number        O riginal Mark et Total                Fair       Percent
                                                          of            Cost/    Price Original             Mark et       To
Description                                             Shares          Unit    P Unit Cost
                                                                                 er                         V alue     Non-Farm
FCS                                                        1          5,200.00 5,200.00     5200             5200          0%
FCS                                                        1          3,000.00 3,000.00     3000             3000          0%
CoopS  tock                                                1            800.00   800.00       800              800         0%
                                                                                                0                0
                                                                                                0                0
                                                                                                0                0
                                                                                                0                0
                                                                                                0                0
      asis
Cost B of Non-Mark  etableS ecurties                                                        9000
    et alue
Mark V of Non-Mark    etableS ecurities                                                                       9000
 alue
V of FarmP  ortion(Cost &Mark  et)                                                               9000         9000
 alue
V of Non-FarmP   ortion(Cost &Mark   et)                                                            0            0

ScheduleN-- Non-FarmAssets
                                                                                                          Cost or    Fair
                                                                                                          B ook      Mark et
 sset
A Description                                                                                             V alue     Value
Personal Vehicle                                                                                            8,000.00 8,000.00
HouseHoldG   oods                                                                                          20,000.00 20,000.00
CD's                                                                                                       80,000.00 80,000.00




                et alue
Total Cost &Mark V of Non-FarmAssets                                                                        108000      108000
Insurance
Insurance                                                              pe
                                                                     Ty of                     Yearly        Face        Cash
    y usiness
Risk B                                        w ife                    hole
                                                                     w life                      1200 150,000.00 15,000.00
 et our
B y life                                      kids                   term                        1800 250,000.00      0.00




                                                                                alue
                                                                     Total CashV of LifeInsurance                        15000
ScheduleO-- FarmA         ay
                 ccounts P able
                                                                                              Principle     Due
                                                        P urposeof                Current      Duein        ey
                                                                                                           B ound       A ccrued
 ay
P ableTo                                                A ccount                  Balance      12Mo.       12Mo.        Interest
 gri lev
A E ator                                                feed                     1,600.00     1,600.00        0.00          0.00
Coop                                                    diesel                   1,600.00     1,600.00        0.00          0.00




                                              Total Current Balance           3,200
                                              P               ithin
                                               rincipleDueW 12Months                             3,200
                                              Total P               ey
                                                     rincipleDueB ound12Months                                    0
                                              Total A                   ithin
                                                     ccruedInterest DueW 12Months                                             0

S                                 w
 cheduleP-- Liens and Judgements O ed
                                                                                                           Principle    A ccured
Description                                                                                                  m
                                                                                                           A ount       Interest



                                              Total PrincipleonLiens andJudgem ents                               0
                                              Total AccruedInterest onLeins andJudgements                                     0
S                  ay
 cheduleQ-- Notes P able
                                                                                           P rinciple       Due
                                                                                   Current  Duein           ey
                                                                                                           B ound       A ccrued
 w
O edTo                                        Purpose                              Balance    12Mo.        12Mo.        Interest
O              ov
 perating Carry er                                                               12,000.00 12,000.00                        0.00




                                 Total Current BalanceonNotes           12,000
                                 Total PrincipleDuein12Months                                   12,000
                                 Total P             ey
                                        rincipleDueB ound12Months onNotes                                         0
                                 Total A                   ithin
                                        ccruedInterest DueW 12Months                                                          0
ScheduleR-- IntermediateLoans
                                                                                             Princ.          Due
                                              Descrip. or                          Curret   Duein            ey
                                                                                                           B ound      A  ccrued
 w
O edTo                                        Purpose                              Balance  12Mo.           12Mo.       Interest
JD100hp                                                                          41,000.00  6,203.00      34,797.00      957.00
 w
S ather                                                                           8,448.00  3,948.00       4,500.00      197.00
Stieger                                                                          65,907.00 13,393.00      52,514.00    1,538.00
Com   bine                                                                       88,063.00 13,322.00      74,741.00    2,055.00
JD165hp                                                                          30,943.00 14,596.00      16,347.00      618.00
Drill                                                                            12,361.00  5,886.00       6,475.00      206.00
Trucknew   er                                                                    16,724.00  3,604.00      13,120.00      279.00
Truckolder                                                                        3,357.00  3,357.00           0.00        56.00
Harrowbed                                                                        26,838.00  3,478.00      23,360.00      447.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                 Total Current Balance(Inter.)               293,641
                                 Total PrincipleBalanceDuein12Mo.                       67,787
                                 Total PrincipleB              ey
                                                 alanceDueB ound12Mo.                                       225,854
                                 Total AccruedInterest onInterm ediateLoans Duein12Months                                 6,353
ScheduleS-- Long TermLoans
                                                                                     P rinc.    Due
                                              Descrip. or                   Curret  Duein       ey
                                                                                              B ound                   A  ccrued
  w
O edTo                                        Purpose                      B alance 12Mo.      12Mo.                    Interest
range                                                                    50,347.00 11,509.00 38,838.00                   504.00
3500crop                                                                 88,108.00 20,141.00 67,967.00                   881.00
500crop                                                                   ######## 2,602.00 130,500.00                 2,218.00
500hay                                                                    5,035.00  1,151.00 3,884.00                      50.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                 Total Current Balance(L. T.)              276,592
                                 Total PrincipleB             ithin
                                                 alanceDueW 12Mo.                     35,403
                                 Total PrincipleB             ey
                                                 alanceDueB ound12Mo.                         241,189
                                 Total AccruedInterest onLong TermLoans Duein12Months                                     3,653

ScheduleT-- Taxes - (Real Estate, Income, P       , .S
                                           roperty S .)
                                                                                                            Annual
                                                                                                            Real        Accrued
Real Estate                                                                                     Due          Tax          Tax
LandandB  uildings                                                                                         9,500.00    4,750.00




A            state es ithin
 ccruedReal E Tax DueW 12Months                                                                                           4,750

P ersonal Property                                                                               Due        rop.   rop.
                                                                                                           P Tax P Tax
MachineryandE   quipment                                                                     12-90               2,950.00
Livestock                                                                                    12-90               1,050.00




AccruedPersonal P              ithin
                 ropertyTaxDueW 12Months                                                                          0       4,000
                                                                                                                        Accrued
                                                                                                             Date         ay
                                                                                                                        P roll
 ay
P roll Taxes                                                                                                 Due         Tax es




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



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


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

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

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

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

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

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

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

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

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

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


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

Excess of Market Value over Tax Basis on Noncurrent Assets                                  1360168

Deductions-Noncurrent-(Liabilities that result in tax deductions when paid)
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
              Total Deductions for Noncurrent                                          0


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

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

Total Deferred Tax Estimate Related to Noncurrent                                           584872
Assets and Liabilities
                      nter     e         w
                     E Nam of Farmor O ner(s) CaseFarmRanch
                          nter
                        E theB          heet
                                 alanceS Date      December 31, 1996
                                                                     This Shading Means CalculatedCell
                                                                     This S                 ntry
                                                                           hading Means NoE Here


                                                                                                                       Current
ScheduleA-- Cash, Checking, S                   nly
                             avings, CD's (FarmO )                                                                     Balance
       ook alance
CheckB B                                                                                                                 13111
UndepositedCheck  s                                                                                                          0
CashonHand                                                                                                                   0
 av
S ings A ccounts andCD's                                                                                                  8700
MoneyMark  et                                                                                                            12500
                                                                                                                             0
                                                               ing, av        v
                                              Total Cash, Check S ings, CD's A ailable                                   34311

ScheduleB -- Prepaid Expenses and Supplies
                                                                      Quantity                     Fair
                                                                      Bu./Ton Cost     Total       Mark et    Mark et
Descriptionof Item                                                      t/G     er
                                                                      Cw al P Unit Cost            Value/Unit  Value
Diesel                                                                   500      1.00     500.00       1.00   500.00
Gas                                                                      500      1.00     500.00       1.00   500.00
 il
O andLub                                                                  40      5.00     200.00       5.00   200.00
Misc                                                                        1   200.00     200.00     200.00   200.00
Seed                                                                     500      6.00   3,000.00       6.00 3,000.00
 alt
S andMineral                                                              2.5   320.00     800.00     320.00   800.00
                                                                            0     0.00        0.00      0.00     0.00
                                                                            0     0.00        0.00      0.00     0.00
                                                                            0     0.00        0.00      0.00     0.00
                                                                            0     0.00        0.00      0.00     0.00
                                                                            0     0.00        0.00      0.00     0.00
Total Cost of P       x
               repaidE penses andSupplies                                                    5,200
                et alue repaidE penses andS
Total Fair Mark V P             x          upplies                                                              5,200

S                        row
 cheduleC-- Invested in G ing Crops
                                                                                 Quant.
                                                                     Input Item   O f           Price      Num ber        Total
Crop                                                                  Material Material         er
                                                                                               P Unit       Acres       Invested
 . heat
WW                                                                       seed      1.00            6.00     840.00        5040
 . heat
WW                                                                 fert            1.00           12.00     840.00       10080
 . heat
WW                                                                 fuel            1.00        1725.00        1.00        1725
Ww heat                                                            Interest        1.00            0.60     840.00         504
 um er
S m Fallow                                                                         1.00            5.40    2000.00       10800
                                                                         0.00      0.00            0.00       0.00            0
                                                                         0.00      0.00            0.00       0.00            0
                                                                         0.00      0.00            0.00       0.00            0
                                                                         0.00      0.00            0.00       0.00            0
                                                                         0.00      0.00            0.00       0.00            0
                                                                         0.00      0.00            0.00       0.00            0
                                                                         0.00      0.00            0.00       0.00            0
                                                        Total Inv            row
                                                                 estedinG ing Crops                                      28149

ScheduleD-- Receivables A                 ov. ay
                         ccounts, Notes, G P ments (Current)
Accounts Receivable                                     Date                      Interest    A ount
                                                                                               m           Accrued        rin.
                                                                                                                        P &
      able
Receiv From                            Description       Due                       Rate      Receivable    Interest     Int. Due
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                              Total Accounts Receivable                             0            0            0
Notes Receivable                                                     Date         Interest    A ount
                                                                                               m           Accrued        rin.
                                                                                                                        P &
      able
Receiv From                                   Description            Due           Rate      Receivable    Interest     Int. Due
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                                                                                                              0
                                              Total Notes Receivable                                            0             0
 ov ent ay ents
G ernm P m Receivable                                                                                       Total       B alance
      able
Receiv From                                   Description                                                   ay ent
                                                                                                           P m            Due




                                                     ov ent ay ents
                                              Total G ernm P m                                                  0
                                                     ov ent ay ents
                                              Total G ernm P m Receivable                                                    0

S            IK
 cheduleE-- P Certificates                                                                      x
                                                                                               E pected
                                                            Cost       Face                     rem
                                                                                               P ium
                                                              if       Value       E pir.
                                                                                    x            bov
                                                                                                A e         Market
Crop                             Description                Purch.     Recvd       Date       Cost/Face     Value
                                                                0          0           0             0          0
                                                                0          0           0             0          0
                                                                0          0           0             0          0
                                                                0          0           0             0          0
                                                                0          0           0             0          0
                                                                0          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 of Certs Purchsed                                          0
       alue
FaceV of Certs Receiv  ed                                                    0
    et alue urchasedandReceiv Certs
Mark V of P                  ed                                                                                 0
ScheduleF-- Securities ReadilyMarketable
                                                        Number        Original    Mark et       Total        Fair       Percent
                                                          of           Cost        Price       Original     Mark et       To
Description                                             Shares         er
                                                                      P Unit      P Unit
                                                                                   er           Cost        V alue     Non-Farm
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
                                                           0               0           0             0           0       100%
      asis
Cost B of Mark etableS ecurties                                                                      0
    et alue
Mark V of ReadilyMark    etableS  ecurities                                                                     0
 alue
V of FarmP  ortion(Cost &Mark   et)                                                                  0          0
 alue
V of Non-FarmP   ortion(Cost &Mark   et)                                                             0          0
S                             ale
 cheduleG-- Crops Held For S or Feed (Raised & Purchased) - FreeS tocks
                                                          Q  uan. Required                                 Mark et    Fair
                                                        B u.-Tons      For                    A ailable
                                                                                               v            Price   Mark et
Raised Crops/Feed Held for Sale                            Cw  t.     Feed                    ToS   ell     er
                                                                                                           P Unit    Value
Wheat                                                       9000                                 9000        3.20 28,800.00
Barley                                                    21462                                21462         4.00 85,848.00
                                                                                                                       0.00
                                                                                                                       0.00
                                                                                                                       0.00
                                                                                                                       0.00
Raised Crops/Feed Held for Feed Use
                                                                                                                        0.00
Barley                                                                    627        627             0        4.00 2,508.00
Hay                                                                       637        400             0      70.00 44,590.00
Straw                                                                     153        300             0      25.00 3,825.00
                                                                                                                        0.00
                                                                                                                        0.00
                                                                                                                        0.00
                                                                                                                        0.00
                                                                                                                        0.00
                                                                                                                        0.00
                                                                                                                        0.00
                                                                                                                        0.00
                                 Total FMVRaisedCrops andFeed                                                        165,571
                                                   Q uan. P urchase                                                    Fair
                                                  B          rice er
                                                   u./Tons P P                     Total      A ailable
                                                                                               v           Mark  et  Mark et
Purchased Crops/Feed Held for Sale                  Cw t      Unit                 Cost       ToS   ell   Price/Unit V alue
                                                       0          0                   0              0        0.00        0
                                                       0          0                   0              0        0.00        0
                                                       0          0                   0              0        0.00        0
                                                       0          0                   0              0        0.00        0
                                                       0          0                   0              0        0.00        0
                                                       0          0                   0              0        0.00        0
Purchased Crops/Feed Held for Feed Use
                                                               0             0         0             0        0.00           0
                                                               0             0         0             0        0.00           0
                                                               0             0         0             0        0.00           0
                                                               0             0         0             0        0.00           0
                                                               0             0         0             0        0.00           0
                                                               0             0         0             0        0.00           0
                                                               0             0         0             0        0.00           0
      alue urchasedCrops
Cost V of P                                                                            0
    et alue urchasedCrops
Mark V of P                                                                                                                  0
S                   ther overnment S
 cheduleH-- CCCand O G              tored Grain
                                                                    Units                       Total      Total     Total
Grain                                          Year      Loan      S ealed         Market      Dollars     Loan     Mark et
Description                                   Sealed Rate          T/C/B U         Price       E quity      m
                                                                                                          A ount     Value
Wheat                                         1988       2.45       20000            2.85      8,000.00 49,000.00 57,000.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                  0         0            0           0.00          0.00      0.00      0.00
                                                   quity ov ent rain
                                 Total Dollars of E inG ernm G                                    8,000
                                              m
                                 Total LoanA ount A   gainst Crops                                         49,000
                                            et alue rain
                                 Total Mark V of G Under Loan                                                        57,000

S                                ale
 cheduleI -- Livestock Held for S (Raised and Purchased)
RaisedLivestock                                                                              v
                                                                                           A erage         Mark et      Total
                                                                               Num   ber    W eight        rice er
                                                                                                          P P           Market
Description                                                                      nim
                                                                               A als inP       ounds       P ound       Value
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                                                      0          0.0          0.00        0.00
                                                             et alue
                                              Total Fair Mark V of RaisedLiv    estock                                       0
PurchasedLivestock                                                 A erage
                                                                     v           Cost       Mark et                     Total
                                                         Num ber W    eight      P er      P P
                                                                                            rice er         Total       Market
Description                                               nim
                                                         A als inLB      s      P ound      P ound          Cost        Value
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                              0         0.0        0.00         0.00         0.00         0.00
                                                     alue urchasedLiv
                                              Cost V of P               estockfor S ale                          0
                                                        et alue urchasedLiv
                                              Fair Mark V of P                estockfor Sale                                  0

ScheduleJ -- Breeding Livestock (Raised and Purchased)
RaisedB  reeding Lvstk                                                                         W           t alue Total
                                                                                                 ieght Mrk V
            ativ       et alue asis
UseConserv eMark V for B                                                 Num ber                 P er    (B asis)  Mark et
Description                                                               nim
                                                                         A als                   nim     er nim
                                                                                               A al P A al V         alue
Rep. Heifers                                                                  70                  950.0   700.00 49,000.00
Cow s                                                                       350                 1,100.0   700.00 ########
 x               ent
E cess Replacem Heifers                                                       10                  950.0   500.00 5,000.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                                                               0                     0.0     0.00     0.00
                                               et alue
                               Total Fair Mark V of RaisedB   reeding Stock                                       299,000
Purchased                                             v
                                                     A erage Cost                                        Mark  et   Total
Breeding Lv stk                            Num  ber W  eight/  P er       ccum
                                                                         A .                   O         alue er Mark
                                                                                                riginal V P             et
Description                                 nim
                                           A als A al  nim     nim
                                                              A al        Dep.                  Cost       nim
                                                                                                         A al       Value
Bulls                                          10 1,500.0 2,000.00 6,667.00                   20,000.00 2,000.00 20,000.00
Bulls                                            4 1,500.0 2,000.00         0.00               8,000.00 2,000.00 8,000.00
Horses                                           5 1,100.0    400.00 2,000.00                  2,000.00 1,000.00 5,000.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
                                                 0       0.0     0.00       0.00                   0.00      0.00     0.00
               ook alue urchasedB
Total Cost or B V of P             reeding S tock                         8,667                  30,000
          et alue urchasedB
Total Mark V of P            reeding Livestock                                                                      33,000
S                     ,
 cheduleK -- Machinery Trucks, Pickups, Autos and Livestock Equipment
                                   Year                        Cost                                                 stim
                                                                                                                   E ated
 ow
P ered                             Make         Date Percent    or      A nnual                  ccum
                                                                                               A .         Book     Mark et
           Equipment               Model       A       w
                                                cqurd O ned   B asis    Deprec.                Deprec.     Value     Value
Com  bine                                     7/89     100 110,000.00 10,083.00               30,243.00 79,757.00 85,000.00
Stieger                                       7/88     100 97,000.00 4,139.00                 16,556.00 80,444.00 75,000.00
JD165hp                                       3/88     100 66,000.00 1,159.00                  4,636.00 61,364.00 60,000.00
JD100hp                                       7/90     100 41,000.00 1,303.00                  2,606.00 38,394.00 35,000.00
Case55hp                                      6/82     100 19,000.00     760.00                7,600.00 11,400.00 5,000.00
 w
S ather                                       1/86     100 22,000.00     873.00                5,238.00 16,762.00 15,000.00
HarrowB  ed                                   5/90     100 30,000.00 1,000.00                  2,000.00 28,000.00 25,000.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                   Year                        Cost                                                 stim
                                                                                                                   E ated
                                   Make         Date Percent    or    A nnual                    ccum
                                                                                               A .         Book     Mark et
  plem
Im ents                            Model       A       w
                                                cqurd O ned   B asis  Deprec.                  Deprec.     Value     Value
Tool B ar                                     3/90     100 16,000.00 2,640.00                  5,280.00 10,720.00 10,000.00
Harrow40'                                     3/90     100   2,500.00  309.00                    618.00 1,882.00 2,000.00
Chiesel                                       6/89     100 16,000.00   660.00                  1,980.00 14,020.00 12,000.00
Drill 35'                                     7/88     100 27,000.00 3,536.00                 14,144.00 12,856.00 14,000.00
Baler                                         5/80     100   9,500.00  467.00                    934.00 8,566.00 6,000.00
 pray
S er                                          1/86     100   5,500.00  727.00                  4,362.00 1,138.00 1,000.00
Rodw   eeder                                  3/90     100   2,750.00  103.00                    206.00 2,544.00 2,000.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                   Year                       Cost                                                  stim
                                                                                                                   E ated
 ick
P ups &                            Make         Date Percent   or     A nnual                    ccum
                                                                                               A .         Book     Mark et
Trucks                             Model       A       w
                                                cqurd O ned  B asis   Deprec.                  Deprec.     Value     Value
Chev2t                                        7/90     100 20,000.00 2,160.00                  4,320.00 15,680.00 15,000.00
Ford2t                                        1/87     100 14,000.00   952.00                  4,760.00 9,240.00 9,000.00
834x 4                                        12/89    100 14,000.00 3,360.00                  8,400.00 5,600.00 7,000.00
834x 4                                        12/89    100 14,000.00 3,360.00                  8,400.00 5,600.00 7,000.00
801/2t                                        5/90     100 10,000.00 1,600.00                  3,200.00 6,800.00 6,000.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                   Year                      Cost                                                       stim
                                                                                                                       E ated
                                   Make        Date Percent   or     A nnual                     ccum
                                                                                               A .           Book       Mark et
Livestock                          Model      A       w
                                               cqurd O ned  B asis   Deprec.                   Deprec.       Value       Value
Miscellaneous                                 1/87    100 15,000.00 1,500.00                   7,500.00    7,500.00    9,000.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                                                                                               0.00
                                 Total Cost or Basis         551,250
                                 Total Annual Depreciation              40,691
                                        ccum
                                 Total A ulatedDepreciationToDate                  132,983
                                        ook alue
                                 Total B V of MachineryandE    quipment                                    418,267
                                        stim         et alue
                                 Total E atedMark V of MachineryandE     quipm ent                                      400,000
S cheduleL -- Real Estate
  w
O ned                                                                                                                stim
                                                                                                                    E ated
Descrip.                           Percent Date                        Cost or     Annual      A .
                                                                                                ccum        Book     Mark et
  are
B Land                              w
                                   O ned A cquir.           Acres       Basis      Dep.         Dep.        Value     Value
range                                100 4/65               5000       180,000                             180,000 375,000
crop3500                             100 6/65               3500       315,000                             315,000 1,050,000
hay                                  100 6/65                500        18,000                              18,000 162,500
crop500                              100 3/80                500       135,000                             135,000 150,000
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                   Percent Date                        Cost or     Annual      A .
                                                                                                ccum        B ook       Market
Buildings                           w
                                   O ned A cquir.           Acres       Basis      Dep.         Dep.        Value       Value
 hop 50
S 30x                                100 5/81                           18,000        900        9,900       8,100
   100
50x shop                             100 4/85                           25,000      1,250        8,750      16,250
grainstr                             100 3/87                           20,000      1,000        5,000      15,000
garage                               100 5/90                            4,000        200          400       3,600
misc                                 100 /76                            20,000      1,000       15,000       5,000
                                                                                                                 0
    et alue ldg prov ents
Mark V B &Im em                      100                                                                         0      150,000
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                   Percent Date                        Cost or     Annual      A .
                                                                                                ccum        B ook       Market
  prov ents
Im em                               w
                                   O ned A cquir.           Acres       Basis      Dep.         Dep.        Value       Value
range                                100 1965                           20,000        666       18,008       1,992
crop3500                             100 1965                           35,000      1,167       31,509       3,491
hay                                  100 1965                            2,000         67        1,809         191
crop500                              100 1980                           15,000        500        6,000       9,000
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
                                                                                                                 0
Houses
Dads                                                                   55000                                55000
                                                                                                                0
                                                                                                                0
                                 Total Acres            9,500
                                 Total Cost or Basis             862,000
                                 Total Annual Depreciation                          6,750
                                        ccum
                                 Total A ulatedDepreciationonR. E     .                          96,376
                                        ook alue
                                 Total B V of Real E       state                                        765,624
                                        stim         et alue
                                 Total E atedMark V of Real E        state                                       1,887,500
LeasedandRented                                                                                         Current A   ccrued
Land                                                      Ty pe                                A nnual   Portion Rent and
                                                            of    Date                          Cash Rent/Lease Lease
Description/ Landlord                                             x
                                                          Lease E pires            Acres        Rent      Due       ay ents
                                                                                                                  P m
Jones Place                                             cash    11/92            3,750.00     12,000.00 2,000.00 2,000.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                                                                                                      0.00
                                        cres
                                 Total A Rented                                     3,750
                                 Total Annual CashRents andLeases                               12,000
                                 Current A                     ay ents
                                          ccruedRent andLeaseP m                                                          2,000

ScheduleM-- Securities Not ReadilyMarketable
                                                        Number        O riginal Mark et Total                Fair       Percent
                                                          of            Cost/    Price Original             Mark et       To
Description                                             Shares          Unit    P Unit Cost
                                                                                 er                         V alue     Non-Farm
FCS                                                        1          5,200.00 5,200.00     5200             5200          0%
FCS                                                        1          3,000.00 3,000.00     3000             3000          0%
CoopS  tock                                                1            800.00   800.00       800             800          0%
                                                                                                0                0         0%
                                                                                                0                0         0%
                                                                                                0                0         0%
                                                                                                0                0         0%
                                                                                                0                0         0%
      asis
Cost B of Non-Mark  etableS ecurties                                                        9000
    et alue
Mark V of Non-Mark    etableS ecurities                                                                      9000
 alue
V of FarmP  ortion(Cost &Mark  et)                                                               9000        9000
 alue
V of Non-FarmP   ortion(Cost &Mark   et)                                                            0           0
ScheduleN-- Non-FarmAssets
                                                                                                          Cost or   Fair
                                                                                                          Book      Mark et
 sset
A Description                                                                                             Value     Value
Personal Vehicle                                                                                           8,000.00 8,000.00
HouseHoldG   oods                                                                                         20,000.00 20,000.00
CD's                                                                                                      50,000.00 50,000.00




                et alue
Total Cost &Mark V of Non-FarmAssets                                                                        78000        78000
Insurance
Insurance                                                              pe
                                                                     Ty of                     Yearly       Face         Cash
    y usiness
Risk B                                        w ife                    hole
                                                                     w life                      1200     ######## 15,000.00
 et our
B y life                                      kids                   term                        1800     ########      0.00




                                                                                alue
                                                                     Total CashV of LifeInsurance                        15000
ScheduleO-- FarmA         ay
                 ccounts P able
                                                                                              Principle     Due
                                                        Purposeof                 Current      Duein        ey
                                                                                                           B ound       A ccrued
 ay
P ableTo                                                Account                   Balance     12Mo.        12Mo.        Interest




                                              Total Current Balance            0
                                              P               ithin
                                               rincipleDueW 12Months                                  0
                                              Total P               ey
                                                     rincipleDueB ound12Months                                   0
                                              Total A                   ithin
                                                     ccruedInterest DueW 12Months                                             0

S                                 w
 cheduleP-- Liens and Judgements O ed
                                                                                                           Principle    A ccured
Description                                                                                                  m
                                                                                                           A ount       Interest



                                              Total PrincipleonLiens andJudgem ents                              0
                                              Total AccruedInterest onLeins andJudgements                                     0
S                  ay
 cheduleQ-- Notes P able
                                                                                              Principle     Due
                                                                                  Current      Duein        ey
                                                                                                           B ound A   ccrued
 w
O edTo                                        Purpose                             Balance       12Mo.      12Mo.    Interest
O              ov
 perating Carry er                                                               9,000.00     9,000.00        0.00 1,320.00




                                 Total Current BalanceonNotes            9,000
                                 Total PrincipleDuein12Months                                     9,000
                                 Total P             ey
                                        rincipleDueB ound12Months onNotes                                        0
                                 Total A                   ithin
                                        ccruedInterest DueW 12Months                                                      1,320
ScheduleR-- IntermediateLoans
                                                                                                Princ.     Due
                                              Descrip. or                          Curret      Duein       ey
                                                                                                         B ound A    ccrued
 w
O edTo                                        Purpose                              Balance     12Mo.      12Mo.    Interest
JD100hp                                                                          34,797.00     7,071.00 27,726.00   812.00
 w
S ather                                                                           4,500.00     4,500.00      0.00   105.00
Stieger                                                                          52,514.00    15,268.00 37,246.00 1,225.00
Com   bine                                                                       74,741.00    15,188.00 59,553.00 1,744.00
JD165hp                                                                          16,347.00    16,347.00      0.00   327.00
Drill                                                                             6,475.00     6,475.00      0.00   108.00
Trucknew   er                                                                    13,120.00     3,964.00 9,156.00    219.00
Truckolder                                                                            0.00         0.00      0.00      0.00
Harrowbed                                                                        23,360.00     3,826.00 19,534.00   389.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                                                                                             0.00
                                 Total Current Balance(Inter.)               225,854
                                 Total PrincipleBalanceDuein12Mo.                        72,639
                                 Total PrincipleB              ey
                                                 alanceDueB ound12Mo.                                      153,215
                                 Total AccruedInterest onInterm ediateLoans Duein12Months                                 4,929
ScheduleS-- Long TermLoans
                                                                                     P rinc.    Due
                                              Descrip. or                   Curret   Duein      ey
                                                                                              B ound A   ccrued
  w
O edTo                                        Purpose                      B alance 12Mo.      12Mo.   Interest
range                                                                    38,838.00 12,199.00 26,639.00  388.00
3500crop                                                                 67,967.00 21,349.00 46,618.00  680.00
500crop                                                                   ######## 2,862.00 ######## 2,175.00
500hay                                                                    3,884.00  1,220.00 2,664.00     39.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                                                                                  0.00
                                 Total Current Balance(L. T.)              241,189
                                 Total PrincipleB             ithin
                                                 alanceDueW 12Mo.                     37,630
                                 Total PrincipleB             ey
                                                 alanceDueB ound12Mo.                         203,559
                                 Total AccruedInterest onLong TermLoans Duein12Months                     3,282

ScheduleT-- Taxes - (Real Estate, Income, P       , .S
                                           roperty S .)
                                                                                                            Annual
                                                                                                            Real        Accrued
Real Estate                                                                                     Due           Tax         Tax
LandandB  uildings                                                                                         9,500.00    4,750.00




A            state es ithin
 ccruedReal E Tax DueW 12Months                                                                                           4,750

P ersonal Property                                                                               Due       rop.   rop.
                                                                                                          P Tax P Tax
MachineryandE   quipment                                                                         33208          2,950.00
Livestock                                                                                    12-90              1,050.00




AccruedPersonal P              ithin
                 ropertyTaxDueW 12Months                                                                         0        4,000
                                                                                                                        Accrued
                                                                                                            Date          ay
                                                                                                                        P roll
 ay
P roll Taxes                                                                                                Due          Tax es




A       ay           ithin
 ccruedP roll TaxDueW 12Months                                                                                                0
                                       Ending Fiscal Year Balance Sheet
Name: Case Farm Ranch                                Cost                    Date:          December 31, 1996                        Cost
                                                   or Book        Market                                                           or Book       Market
Current Farm Assets                                  Value        Value      Current Farm Liabilities                                Value       Value
Cash, Checking, Savings, CD's (Sch. A)                34,311       34,311    Farm Accounts Payable (Sch. O)                                0            0
Prepaid Expenses (Sch. B)                              5,200        5,200    Accrued Interest (Schedules O,P,Q,R,S)                    9,531        9,531
Growing Crops (Sch. C)                                28,149       28,149    Principle Due in 12 Months (Schedules R,S)              110,269      110,269
Accounts Receivable (Sch. D)                               0             0   Leins and Judgements (Sch. P)                                 0            0
Notes Receivable (Sch D)                                   0             0   Personal property taxes (Sch T)                           4,000        4,000
Government Payments Receivable (Sch D)                     0             0   Real estate Taxes (Sch T)                                 4,750        4,750
PIK Certificates (Sch E)                                   0             0   Accrued Lease Payments (Land Only) (Sch L)                2,000        2,000
Securities Readily Marketable, Farm (Sch. F)               0             0   Accrued Payroll Tax Due W ithin 12 Months (Sch T)             0            0
Other                                                      0             0   Other                                                         0            0
Crops Held For Sale or Feed             Quan.                                Other                                                         0            0
Raised Crops For Sale NOT Feed (Sch. G)              114,648      114,648    Other                                                         0            0
Purchased Crops For Sale NOT Feed (Sch. G)                 0            0    Other                                                         0            0
Raised Crops For Feed NOT Sale (Sch. G)               50,923       50,923    Short Term Notes (NOT Ann. Oprtng or Cap. Assets)
Purchased Crops For Feed NOT Sale (Sch. G)                 0            0    Other                                                         0             0
Other                                                      0            0    Other                                                         0             0
Other                                                      0            0    Other                                                         0             0
Crops Under Gov. Loan                   Quan.                                Other                                                         0             0
Crops Under Gov. Loan (Sch. H)                        57,000        57,000   Other                                                         0             0
Other                                                      0             0   Cur. Farm Notes Payable (Ann. Oprtng, CCC, C. A.)         Principle Balance
Other                                                      0             0   Current Note Principle Due in 12 Mo. (Sch. Q)             9,000         9,000
Other                                                      0             0   CCC W heat Loans (Sch. H)                                49,000       49,000
Other                                                      0             0   Other                                                         0             0
Livestock Held for Sale                 Quan.                                Other                                                         0             0
Value of Lvstck Held for Sale (Sch I)                      0            0    Other                                                         0             0
Other                                                      0            0    Other                                                         0             0
Other                                                      0            0    Other                                                         0             0
Other                                                      0            0    Other                                                         0             0
Other                                                      0            0    Deferred Tax Liability on Current Assets                 92,810       92,810
Total Current Farm Assets                            290,231      290,231    To tal Cu rren t Farm L iab ilities                     281,360      281,360
Non Current Farm Assets                 Quan.                              Non Current Farm Liabilities
Breeding Stock (Sch J)                                             332,000 Description
 Cost or Base Val. (Sch J) 329,000           0                             Prin. Due Beyond 12 Months From (Sch. R)                  153,215       153,215
 Less Accumulated Dep.          8,667        0       320,333               Prin. Due Beyond 12 Months From (Sch. Q)                        0             0
Other                                                      0             0 Prin. Due Beyond 12 Months From (Sch. O)                        0             0
Other                                                      0             0 Other                                                           0             0
Other                                                      0             0 Other                                                           0             0
Other                                                      0             0 Other                                                           0             0
Farm Machinery & Equipment (Sch K)                                 400,000 Real Estate&Other Long Term Loans (Sch. S)                203,559       203,559
 Cost or Basis (Sch K)       551,250                                       Other                                                           0             0
 Less Accumulated Dep.       132,983                 418,267               Other                                                           0             0
Farm Real Estate (Sch. L) Acres =        9500                    1,887,500 Other                                                           0             0
 Cost or Basis (Sch L)       862,000                                       Other                                                           0             0
 Less Accumulated Dep.        96,376                 765,624               Total Non Current Farm Liabilities                        356,774       356,774
Other                                                      0             0 Total Current and Non-Current Liabilities                 638,134       638,134
Other                                                      0             0 Deferred Tax Liability on Non Current Assets                            608,139
Other                                                      0             0 Total Farm Liabilities                                    638,134     1,246,272
Other                                                      0             0 Retained Earnings/Contributed Capital                   1,165,321     1,165,321
Other                                                      0             0
Securities Not Readily Marketable (Sch. M)             9,000         9,000 Valuation Equity                                                        507,137
Total NonCurrent Farm Assets                       1,513,224     2,628,500 Net W orth (Business Only)                              1,165,321     1,672,459
Total Farm Assets                                  1,803,455     2,918,731 Total Liabilities and Net W orth                        1,803,455     2,918,731



Nonfarm Assets                                                               Nonfarm Liabilites
Non-Farm Assets from (Sch N)                          78,000        78,000   Nonfarm Accounts Payable and Accrued Exp.                       0           0
Cash Value of Life Ins. (Sch. N)                      15,000        15,000   Nonfarm Notes Payable                                           0           0
Securities Marketable and Non (Sch. F, M)                  0             0   Deferred Tax Liability on Nonfarm Assets                                    0
Other                                                      0             0   Total Nonfarm Liabilities                                     0             0
Other                                                      0             0   Total Liabilities (Farm & NonFarm)                      638,134     1,246,272
Total Nonfarm Assets                                  93,000        93,000   NET W ORTH (Equity) - Combined                        1,258,321     1,765,459
Total Assets(Farm &NonFarm)                        1,896,455     3,011,731   Total Liabilities and Net W orth (Combined)           1,896,455     3,011,731


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

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

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

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

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

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

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

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

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

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


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

Excess of Market Value over Tax Basis on Noncurrent Assets                                  1414276

Deductions-Noncurrent-(Liabilities that result in tax deductions when paid)
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
Other Noncurrent Deductions...                                         0
              Total Deductions for Noncurrent                                          0


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

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

Total Deferred Tax Estimate Related to Noncurrent                                           608139
Assets and Liabilities
MonthlyCashflowStatment Template


    e w            pany e
Nam of O ner or Com Nam                          CaseFarmRanch
 nter               tatem
E Dateof CashflowS ent                           January2, 1997

                                                 This Shading Means CalculatedCell
                                                 This S                 ntry
                                                       hading Means NoE Here
S            eed
 cheduleA-- S Costs                                Quan.                       %
Crop                                   Month        Per        Num ber      Cost Per    Y our      Total        Your
                                       Appld       Acre         Acres         Unit      Share      Cost         Cost
                                      MO NTH        UA
                                                   Q N          CRE
                                                               A S           CP  U       Y S        TC           YC
Barley                                    4            1         1090          6.50      100        7085          7085
WW  heat                                  9            1          840          6.00      100        5040          5040
SW  heat                                  4            1           70          6.50      100         455           455
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                    eed
                                                             Total S Costs                         12580         12580

ScheduleB -- Fertilizer Costs
                                      Fert         Quan.       Num  ber                   %
                              Month Ty  pe          Per           of        Cost Per    Y our      Total        Your
Crop                          A        nly
                               ppld A s.           Acre         Acres         Unit      Share      Cost         Cost
                             MONTH FT               UA
                                                   Q N          CRE
                                                               A S           CP  U       Y S        TC           YC
Barley                          4 m ix                 1         1090          8.40      100        9156          9156
WW  heat                        9                      1           840        12.00      100       10080         10080
SW  heat                        4                      1            70         8.40      100         588           588
Hay                             5                      1           500        15.00      100        7500          7500
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                             Total Fertilizer Costs                27324         27324

ScheduleC-- Crop Chemicals                         Quan.                                  %
                         Month Ty  pe               Per        Num  ber     Cost Per    Y our      Total        Your
Crop                      Appld Chem .             Acre        of Acres       Unit      Share      Cost         Cost
                        MO NTH CHE  M               UA
                                                   Q N           CRE
                                                               A S           CP  U       Y S        TC           YC
Barley                      6 2-4-d                    1          1090         2.00      100        2180          2180
WW  heat                    5 2-4-d                    1           840         4.00      100        3360          3360
SW  heat                    6 2-4-d                    1            70         2.00      100         140           140
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                       ical
                                                             Total Chem Costs                       5680          5680

ScheduleD-- Crop Insurance                                      Cost                      %
                                                   Month        P er        Num ber     Y our      Total        Your
Crop                                               Paid         Acre        OA
                                                                             f cres     Share      Cost         Cost
                                                  MONTH         CP U        A S
                                                                             CRE         Y S        TC           YC
Barley                                               10          5.00         1090       100        5450          5450
WW  heat                                             10          5.00          840       100        4200          4200
SW  heat                                             10          5.00           70       100         350           350
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                             Total CropInsuranceCost               10000         10000

ScheduleE-- Crop Water Assessment                               Cost
                                                   Month        Per         Num ber     %Y our     Total        Your
Crop                                               Paid         Acre        OA
                                                                             f cres     Share      Cost         Cost
                                                  MONTH         CP U        A S
                                                                             CRE         Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                        ater
                                                             Total CropW Cost                           0              0

ScheduleF-- Crop Irrigation Energy
                                                   Quan.       Num ber                    %
                              Month Ty pe           Per          of         Cost Per    Y our      Total        Your
Crop                          Appld Energy         Acre         Acres         Unit      Share      Cost         Cost
                             MO     NE Y
                               NTH E RG             UA
                                                   Q N          CRE
                                                               A S           CP  U       Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                 Total IrrigationEnergyCost                             0              0

ScheduleG-- Crop CustomHire
                                                                                          %
                                     Month                     Num  ber     Cost Per    Y our      Total        Your
Crop                                 Paid     Desc.            of Acres       Unit      Share      Cost         Cost
                                      MO NTH DE CS               CRE
                                                               A S           CP  U       Y S        TC           YC
Barley                                    8 Com bine              1000        12.00      100       12000         12000
Barley                                    8 Trucks                1000         4.32      100        4320          4320
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                                             Total CropCustomHire                  16320         16320

ScheduleH-- Direct Crop Labor
                                                                                          %
                                     Month                     Num  ber     Cost Per    Y our      Total        Your
Crop                                 Paid          Desc.       of Acres       Unit      Share      Cost         Cost
                                      MO NTH         S
                                                   DE C          CRE
                                                               A S           CP  U       Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                             Total Direct CropLabor                     0              0

ScheduleI -- Crop Packaging and Supplies
                                                   Quan.                                  %
                              Month                 Per        Num  ber     Cost Per    Y our      Total        Your
Crop                          Appld Desc.          Acre        of Acres       Unit      Share      Cost         Cost
                             MO       S
                               NTH DE C             UA
                                                   Q N           CRE
                                                               A S           CP  U       Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                            ack
                                                 Total CropP aging andSupplies                          0              0

S cheduleJ -- Purchased Feed for Breeding Livestock
                                                 Quan.                        Num ber     %
   pe
Ty of                       Month                 Per          P rice           of      Y our      Total        Your
Livestock                    P aid Desc.         Head         P Unit
                                                                er             Head     Share      Cost         Cost
                           MO  NTH DE C S         UA
                                                Q N             CP U          HE D
                                                                                 A       Y S        TC           YC
Cow  s                         1 supp.               1        2075.00              1     100        2075          2075
Cow  s                         1 salt                1          41.00              1     100          41            41
cow  s                         2 cak  e              1         658.00              1     100         658           658
Horses                         3 oats                1         433.78              1     100         434           434
B ulls                         3 supp                1          47.00              1     100          47            47
rephefiers                     3 cak  e              1         632.00              1     100         632           632
Horses                        10 supp                1         320.00              1     100         320           320
.                          11.00 stuff            1.00        1332.00           1.00     100        1332          1332
.                          12.00                  1.00        2256.22           1.00     100        2256          2256
                                                                                                        0            0
                             Total PurchasedFeed(B          stk
                                                  reeding Lv )                                      7795          7795

S                      tock rtificial Insemination Costs
 cheduleK -- Breeding S A
                                                                Price                     %
  pe
Ty of                                              Month         Per          Num ber   Y our      Total        Your
Livestock                                          Incurr.      Head          of Head   Share      Cost         Cost
                                                  MO  NTH       CP U          HE DA      Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                    I
                                                             Total A Costs (Breeding)                   0              0

S                                          et,
 cheduleL -- Breeding Livestock - Health, V Medicine
                                               Quan.                          Num ber     %
  pe
Ty of                       Month               Per            P rice           of      Y our      Total        Your
Livestock                    Paid Desc.        Head           P Unit
                                                                er             Head     Share      Cost         Cost
                          MO  NTH DE C  S       UA
                                               Q N              CP U          HE D
                                                                                 A       Y S        TC           YC
Cows                           1 m  ed             1           383.00              1     100         383           383
                            2.00                1.00            98.00           1.00     100          98            98
                            3.00                1.00           671.00           1.00     100         671           671
                            4.00                1.00           864.00           1.00     100         864           864
                            5.00 shots          1.00          1045.00           1.00     100        1045          1045
                                                                                         100            0            0
                                                                                         100            0            0
                                                                                         100            0            0
                                     Total HealthCost (Breeding)                                    3061          3061

ScheduleM-- Breeding Livestock Supplies
                                                   Quan.                      Num ber     %
  pe
Ty of                         Month                 Per         Price           of      Y our      Total        Your
Livestock                     Paid Desc.           Head        P Unit
                                                                er             Head     Share      Cost         Cost
                             MO      S
                               NTH DE C             UA
                                                   Q N          CP U          HE D
                                                                                 A       Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                     Total HealthCosts (Breeding)                                       0              0

ScheduleN-- Breeding Livestock Marketing Expenses
                                                                Cost                      %
  pe
Ty of                                  Month                    Per           Num ber   Y our      Total        Your
Livestock                              Paid        Desc.        Unit          of Head   Share      Cost         Cost
                                      MONTH          S
                                                   DE C         CPU           HE DA      Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                     Total Marketing Costs (Breeding)                                   0              0

S cheduleO-- P                row                             er
              urchasecost of G ing and Finishing Livestock. (P Head)
                                                        Cost                              %
   pe
Ty of                                        Month       Per      Num ber               Y our      Total        Your
Livestock                                   P urch.     Head      of Head               Share      Cost         Cost
                                           MO  NTH      CP  U     HE DA                  Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                             Total P              row
                                    urchaseCost (G ing &Finishing)                                      0              0

S cheduleP-- P                  row                             er t.)
              urchased Cost of G ing and Finishing Livestock (P Cw
                                             P urch.    P urch.                           %
   pe
Ty of                              Month    W  eight     Price/    Num ber              Y our      Total        Your
Livestock                          Purch.        S
                                              LB .        LB       of Head              Share      Cost         Cost
                                  MO NTH      LB S       CP  U     HE DA                 Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
               row
Total Cost of G ing &Finishing P           er t asis
                                urchasedonP Cw B                                                        0              0

ScheduleQ-- P                   row                  er
             urchased Feed for G ing and Finishing (P Head & Cwt.)
                                           Q uanity             Num  ber                  %
  pe
Ty of                    Month               Per        Price      of                   Y our      Total        Your
Livestock                 P aid Desc.       Head      P Unit
                                                        er       Head                   Share      Cost         Cost
                        MO  NTH DE CS        UA
                                            Q N         CP U     HE D
                                                                    A                    Y S        TC           YC
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                             Total P              row
                                    urchasedFeed(G ing &Finishing)                                       0            0

S                     et,         row            er
  cheduleR-- Health, V Medicine- G and Finish (P Head & Cw t.)
                                          Q uanity             Num ber                    %
   pe
Ty of                      Month            Per      Price       of                     Y our      Total        Your
Livestock                  Purch. Desc.    Head     P Unit
                                                     er         Head                    Share      Cost         Cost
                          MO NTH DE CS      UA
                                          Q N        CP U      HE D
                                                                  A                      Y S        TC           YC
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                        row
                                     Total HealthCost (G ing &Finishing)                                 0            0

S cheduleS-- Livestock S         row                 er
                        upplies G ing & Finishing (P Head & Cw t.)
                                             Q uanity              Num ber                %
   pe
Ty of                      Month               Per       Price       of                 Y our      Total        Your
Livestock                   P aid Desc.       Head      P Unit
                                                         er         Head                Share      Cost         Cost
                          MO         S
                              NTH DE C         UA
                                              Q N        CP U      HE D
                                                                      A                  Y S        TC           YC
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                                                                         100            0              0
                                     Total S                row
                                            upplies Costs (G ing &Finishing)                            0              0

ScheduleT-- Livestock Marketing E          row         er
                                 xpenses, G & Finish (P Head & Cw t.)
                                                        Cost                              %
  pe
Ty of                               Month               P er    Num   ber               Y our      Total        Your
Livestock                           Paid      Desc.     Unit    of Head                 Share      Cost         Cost
                                   MONTH DE C   S       CP U    HE DA                    Y S        TC           YC
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                     Total Mark              row
                                               eting Costs (G ing &Finishing)                            0            0

ScheduleU-- P                sset urchases
             lanned Capital A P
                                                                                          %
Capital                                Month                     Cost                   Y our      Total        Y our
Item                                   Purch.  Desc.             er
                                                               P Unit       Number      Share      Cost         Cost
                                      MO NTH DE C S              CP U      NUMB R
                                                                                E        Y S        TC           Y C
Bulls                                     12 Rep.              2,000.00       4.00       100      8,000.00      8,000.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                             Total Cost of PlannedCapital Purchases                                  8,000         8,000

ScheduleV-- S             ay       early mortized)
             cheduleLoan P ments, Y (A
     nter                  hole ber,          al x ple
    E theinterest rateas aw num not adecim (E am 7%enteredas 7, not .07)
                                                          O riginal A  nnual                                  Calculated
                                          Month            P rinc.      Int.                     Termin         Loan
 w
O edTo                                     Due      Desc. Borrow ed Rate                          Years         ay ent
                                                                                                               P m
                                         MO NTH DE C   S   P  RIN      INT                       TE RM          CLP
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                 Total S         early ay ents
                                                        cheduledY LoanP m                                              0

S                  ay       ay
 cheduleW -- Loan P ments P ed Monthly
     nter                  hole ber,      al x ple
    E theinterest rateas aw num not adecim (E am 7%enteredas 7, not .07)
                                                         Original A .R. .P                                    Calculated
                                        Month            P rinc.        Int.                     Termin         Loan
 w
O edTo                                  Due     Desc.   Borrow ed Rate                           Months         ay ent
                                                                                                               P m
                                       MONTH DE C  S      P RIN        INT                       TE RM          CLP
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                                                                                    0.00
                                                 Total S                ay ents
                                                        cheduledMonthlyP m                                             0

Schedule1-- Cash Receipts FromCrop Sales
                                                                                          %
                                       Month                    Price       Num ber     Y our      Total        Y our
Crop                                   Sold    Desc.            er
                                                               P Unit        Units      Share      Sales        Cash
                                      MONTH DE C  S             PUP        NUMB RE       Y S        TS           Y C
Wheat                                     3 inven.                 3.78      12000       100     45,360.00     45,360.00
WW  heat                                  5 inven.                 3.45      15000       100     51,750.00     51,750.00
Barley                                    6 crop                   4.00       4000       100     16,000.00     16,000.00
WW  heat                                  8 crop                   3.25      21840       100     70,980.00     70,980.00
SW  heat                                  9 crop                   3.40       2240       100      7,616.00      7,616.00
Barley                                   12 crop                   4.00       6250       100     25,000.00     25,000.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                 Total CashFromCropSales                          216,706       216,706

S                               ales old er
 chedule2-- Cash FromLivestock S S on P Head Basis
                                                Price                                     %
Type                              Month          Per                        Num ber     Y our      Total        Your
Livestock                          Sold  Desc.  Head                        of Head     Share      Sales        Cash
                                 MO NTH DE CS   PHP                        NUMB RE       Y S        TS           YC
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                            ales
                                     Total S FromLiv        er
                                                    estock(P Head)                                       0            0

S                               ales old er t
 chedule3-- Cash FromLivestock S S on aP Cw Basis
                                                                                          %
Type                          Month                W eight     Price        Num  ber    Y our      Total        Y our
Livestock                     S old Desc.          inLB S      P LB
                                                                er          of Head     Share      Sales        Cash
                             MONTH DE C S           LB S        P
                                                               P LB        NUMB R E      Y S        TS           Y C
steer calves                   10                   525.00        0.98          166      100     85,407.00     85,407.00
heifer calves                  10                   500.00        0.90           86      100     38,700.00     38,700.00
repheifers                     10 extra           1,000.00        0.70           10      100      7,000.00      7,000.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                    ales
                             Total S FromLiv       old er t.
                                            estockS P Cw                                          131,107       131,107

Schedule4-- Cash FromCapital Sales
                                                                                          %
Item                                   Month                    Price       Num ber     Y our      Total        Y our
S old                                  Sold        Desc.       P Unit
                                                                er           Units      Share      S ales       Cash
Raised Breeding Livestock             MONTH          S
                                                   DE C         PUP        NUMB RE       Y S        TS           Y C
        s
Cull Cow 70head                           11                    472.50           70      100     33,075.00     33,075.00
                                                                                         100           0.00         0.00
                                                                                         100           0.00         0.00
                                                                                         100           0.00         0.00
                                                                                         100           0.00         0.00
                                                                                         100           0.00         0.00
Total RaisedBreeding Lvstk                                                                          33,075        33,075
Purchased Breeding Lvstk              MONTH          S
                                                   DE C         PU
                                                                 P             E
                                                                           NUMB R        YS         TS           Y C
                                                   Basis
bulls                                    2.00       0.00        765.00          0.00     100          0.00         0.00
som ething                               4.00       0.00        500.00          0.00     100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
Total PurcashedB reeding Lvstk                      0.00                                                 0            0
 ther
O Capital A    ssets                  MONTH          S
                                                   DE C         PU
                                                                 P             E
                                                                           NUMB R        YS         TS           YC
                                                   Basis
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
                                                                                         100         0.00          0.00
       ther
Total O Capital Assets                             0.00                                                 0             0
                                     Total CashFromP  lannedCapital Sales                          33,075        33,075

Schedule5-- Government P       ay
                        rogramP ments (Crops & Livestock)
                                                     P rice                               %
      m
Com odity                       Month                 P er                   Q uanity   Y our      Total        Y our
or Item                         Recevd    Desc.       Unit                  of Com d.   Share     Incom e       Cash
                               MO NTH DE C  S          P
                                                      PU                     Q N
                                                                               UA        Y S         TI          Y C
WW    heat                         12                   0.65                  21840      100     14,196.00     14,196.00
SW   heat                          12                   0.65                   2240      100      1,456.00      1,456.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                                                         100          0.00          0.00
                                                e     ov ent ay ents
                                     Total Incom FromG ernm P m                                     15,652        15,652

S            IK
 chedule6-- P Certificates P              old ee
                            urchased and S S **
                                                                Face                      %        Total
                                       Month       Purch.       Value       P ium
                                                                             rem        Y our      Cash         Your
Crop                                  Conv rt.     Cost         Recvd       E pected
                                                                             x          Share      Value        Cash
                                      MONTH         P C          FV           P R        Y S       TCV           YC
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
                                                                                         100          0.00         0.00
Total PurchurchaseCost                                  0
                 ed    IK
Total CashReceiv FromP Certificates Sold                                                                 0             0

                        ** S                               IK                .
                             chedule6is for thetrading of P certificates only It is
                                  ed
                           assum if thecertificates aretradedfor grain, thecash
                                 ed ill
                           receiv w showupunder S       chedule1, "CashFromCropS    ales"
                                              ill
                           andthecertificatew not belistedinS    chedule6. This
                                         s                      ed            al
                           scheduleallow for certificates receiv inthenorm course
                           of operationandthosepurchasedfor other reasons.
Cas e Far m Ran c h
                                           J an u ar y 2, 1997
                                                                              MONTH             MONTH          MONTH        MONTH         MONTH        MONTH        MONTH                                        MONTH              MONTH             MONTH             MONTH             MONTH
                                                                                   1                   2             3            4             5            6          7                                            8                  9                10                11                12
M in im u m c as h B al. Des ir ed                                              0.00          Enter the desired minimum cash balance at the beginning of each month




In ter es t r ate o n o p er atin g lo an                                       12.00         Enter the expected interest rate on the operating loan



B eg in n in g c as h b alan c e                                           34200.00           Enter the beginning cash balance, from the beginning balance sheet, if balance sheet completed.

Date Pr ep ar ed                                                      J an u ar y 2, 1997
                                                                              January     February                     March                 April            May               June               July           August                Sept          October        November          December
Cr o p Sales In c o m e - Sc h ed u le 1                                             1          2                         3                    4                5                 6                  7                8                   9               10              11                12             Total
                          Schedule                               1                   0          0                     45360                    0            51750             16000                  0            70980                7616                0               0             25000          216706
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
L iv es to c k Sales In c o m e Sc h ed u le 2 & 3
 Income (Per Head) From Sch.                                     2                   0                     0                  0                   0                  0                 0             0                     0                  0           0                       0                 0        0
 Income (Per Cwt) From           Sch.                            3                   0                     0                  0                   0                  0                 0             0                     0                  0      131107                       0                 0   131107
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
Cap ital As s et Sales - Sc h ed u le 4                               -----J-----            -----F-----       -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
 Raised Breeding Lvstk              Sch.                         4                   0                     0                  0                   0                  0                 0             0                     0                  0                 0         33075                     0    33075
 Purchased Breeding Lvstk Sch.                                   4                   0                     0                  0                   0                  0                 0             0                     0                  0                 0               0                   0        0
 Other Capital Assets              Sch.                          4                   0                     0                  0                   0                  0                 0             0                     0                  0                 0               0                   0        0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
Cas h Fr o m Go v er n m en t Pr o g r am Pay m en ts                                        -----F-----       -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
 Income From                    Sch.                             5                   0                     0                  0                   0                  0                 0             0                     0                  0                 0                 0         15652        15652
 Cash From PIK Certs.            Sch.                            6                   0                     0                  0                   0                  0                 0             0                     0                  0                 0                 0               0          0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
Cash rents/Leases                                                     -----J-----            -----F-----       -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
   M ac h in er y                                                                                                                                                                                                                                                                                             0
   L an d                                                                                                                                                                                                                                                                                                     0
   Oth er                                                                                                                                                                                                                                                                                                     0
Other Sources of $$                                                   -----J-----            -----F-----       -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
   Patr o n ag e r efu n d s                                                                                                                                                                                                                                                                                 0
   Cu s to m w o r k                                                                                 2200                                                                                                                                                                                                 2200
   State g as r efu n d                                                                                                                                                                                                                                                                                      0
   In s u r an c e Pay m ts                                                                                                                                                                                                                                                                                  0
   T ax r efu n d s                                                                                                                                                                                                                                                                                          0
   M is c . In c o m e                                                                                                                                                                                                                                                                                       0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
   Oth er                                                                                                                                                                                                                                                                                                    0
L o an Pr o c eed s & Oth er In flo w s                               -----J-----            -----F-----  -----M-----              -----A-----         -----M-----       -----J-----       ----JULY--- -----A-----              -----S-----       -----O-----       -----N-----       -----D-----
   Op er atin g L o an Ad v an c es                                                                  6000                                                                                        15000                                                                                                   21000
   Sh o r t T er m No tes                                                                                                                                                                                                                                                                                    0
   L o n g T er m L o an Ad v an c es                                                                                                                                                                                                                                                                        0
   Oth er L o an Pr o c eed s & Ad v an c es                                                                                                                                                                                                                                                                 0
No n Far m In flo w s                                                 -----J-----            -----F-----       -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
   Wag es , Salar ies                                                                                                                                                                                                                                                                                         0
   Oth er No n far m In flo w s                                                                                                                                                                                                                                                                               0
                                                                      -----J-----            -----F-----       -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
Total Cash Inflows                                                                   0              8200              45360                       0          51750             16000            15000              70980               7616            131107             33075             40652       419740

Ex p en s e Item s Fr o m Per Ac r e an d Per L iv es to c k Un it Sc h ed u les
Cr o p Ex p en s es Co llec ted Per Ac r e:                       -----J-----      -----F-----                 -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
 Seed                           Sch.                        A                   0              0                              0             7540                 0                 0                 0                0                5040                0                      0                 0    12580
 Fertilizer                                                 B                   0              0                              0             9744              7500                 0                 0                0               10080                0                      0                 0    27324
 Crop Chemicals                                             C                   0              0                              0                0              3360              2320                 0                0                     0              0                      0                 0     5680
 Crop Insurance                                             D                   0              0                              0                0                 0                 0                 0                0                     0          10000                      0                 0    10000
 W ater Assessment                                          E                   0              0                              0                0                 0                 0                 0                0                     0              0                      0                 0        0
 Irrigation Energy                                          F                   0              0                              0                0                 0                 0                 0                0                     0              0                      0                 0        0
 Crop Custom Hire                                           G                   0              0                              0                0                 0                 0                 0            16320                     0              0                      0                 0    16320
 Direct Crop Labor                                          H                   0              0                              0                0                 0                 0                 0                0                     0              0                      0                 0        0
 Crop Package and Supplies                                  I                   0              0                              0                0                 0                 0                 0                0                     0              0                      0                 0        0
 Oth er                                                                                                                                                                                                                                                                                                      0
 Oth er                                                                                                                                                                                                                                                                                                      0
L iv es to c k Ex p en s es Co llec ted o n a Per Un it B as is :                                              -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
 Breeding Livestock:
 Purchased Feed                  Sch.                       J                2116           658                        1113                    0                 0                     0             0                     0                  0           320              1332              2256         7795
 Artificial Insem.                                          K                   0              0                          0                    0                 0                     0             0                     0                  0             0                 0                 0            0
 Health                                                     L                 383             98                        671                  864              1045                     0             0                     0                  0             0                 0                 0         3061
 Supplies                                                   M                   0              0                          0                    0                 0                     0             0                     0                  0             0                 0                 0            0
 Marketing                                                  N                   0              0                          0                    0                 0                     0             0                     0                  0             0                 0                 0            0
 Oth er                                                                                                                                                                                                                                                                                                      0
 Oth er                                                                                                                                                                                                                                                                                                      0
 Gr o w in g an d Fin is h in g L iv es to c k -- Per Head & Per Cw t:                                         -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
 Purchase Cost - Per Head                                   O                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0         0
 Purchase Cost - Per Cwt                                    P                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0         0
 Purchase Feed                                              Q                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0         0
 Health                                                     R                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0         0
 Supplies                                                   S                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0         0
 Marketing                                                  T                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0         0
 Oth er                                                                                                                                                                                                                                                                                                       0
 Oth er                                                                                                                                                                                                                                                                                                       0
Op er atin g Ex p en s es , Co llec ted at th e Wh o le Far m L ev el:
 Fu el, Oil, L u b                                                            1591         2206                         1206           2817         4000          2680        5866         5147         2052             532           135              0                                                28232
 Repairs                                                          -----J-----      -----F-----                 -----M-----   -----A-----    -----M-----  -----J-----   ----JULY--- -----A-----  -----S-----    -----O-----   -----N-----   -----D-----
   M ac h . & Eq u ip .                                                       3503         3057                         3636           4763         2652        13512         3067         2783             32           200                           78                                                37283
   B ld n g s & Im p r o .                                                                   300                                                                                                          400                                                                                              700
**Hir ed L ab o r /Ho u r ly , Salar y , Fr in g e                            1000         1000                         1000           1000                                                                                                                                                               4000
 Farm Taxes                                                       -----J-----      -----F-----                 -----M-----   -----A-----    -----M-----  -----J-----   ----JULY--- -----A-----  -----S-----    -----O-----   -----N-----   -----D-----
   Real Es tate; Pr o p er ty T ax es                                                                                                  4750                                                                            4750                                                                               9500
   Per s o n al Pr o p er ty T ax es                                                                                                   4000                                                                            4000                                                                               8000
 M is c Far m Ex p .                                                                                                                                                                                                                                                                                         0
 Far m In s u r an c e                                                                                                                      1500                                                 1500                                                                                                     3000
**Utilities                                                                    300           345                             300             509                600                500            300                 370                445               443               300               377        4789
 Cr o p M r k tn g & Sto r ag e                                                                                                                                                                                                                                                                              0
 M is c . Far m Ex p .                                                                                                                                          143                                71                      76            800              2643              1200                          4933
 Oth er (Su p p lies )                                                         134           178                             274                 271            484                226           3500                                    122               109                                            5298
 Oth er                                                                                                                                                                                                                                                                                                      0
 Oth er                                                                                                                                                                                                                                                                                                      0
 Planned PIK Cert Pur.             Sch.                       6                 0              0                              0                   0                  0                 0             0                     0                  0                 0                 0                 0        0
Ren t/L eas e Ex p .                                              -----J-----      -----F-----                 -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
 L an d Ren t                                                                                                                                                                                                                                                                                                0
 M ac h & B u ild in g                                                                                                                                                                                                                                                                                       0
 Gr azin g Fees                                                                                                                                                                                  4000                8000                                                                                12000
**M ac h in e Hir e                                                                                                                                                                                                                                                                                          0
Plan n ed Cap ital As s et Pu r c h as es - Sc h ed u le U fo r Details :
 Planned Purchases                Sch.                      U                   0              0                              0                   0                  0                 0             0                     0                  0                 0                 0          8000         8000
 Oth er                                                                                                                                                                                                                                                                                                      0
 Oth er                                                                                                                                                                                                                                                                                                      0
Pr in c ip al an d In ter es t Pay m en ts -- See Sc h ed u le V & W fo r Details :
 Loan Payments (Yearly)                                     V                   0              0                              0                   0                  0                 0             0                     0                  0                 0            0                 0             0
 Loan Payments (Monthly)                                    W                   0              0                              0                   0                  0                 0             0                     0                  0                 0            0                 0             0
 T er m L o an Pay m en ts                                                                                                                                                                                                                                                67787             35402       103189
 In ter es t o n T er m L o an s                                                                                                                                                                                                                                          38120             21920        60040
 Op er atin g L o an Pay m en t                                                                                                                                                12000                                                  12000                                                              24000
 In ter es t o n Op er atin g L o an                                                                                                                                            3000                                                    720                                                               3720
 Ac c o u n ts Pay ab le                                                                                                                                                                                                                                                                                     0
                                                                  -----J-----      -----F-----                 -----M-----         -----A-----         -----M-----       -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
Total Farm Cash Outflows                                                     9027         7842                         8200               37758              19784             34238            18304              32696              31691             22997           108874              68033       399444
No n Far m Ex p en s e
 Fam ily liv in g                                                             1413         1200                         1328                1695               3029              1599            1150                1272                596              2344              2594              1465       19685
 Fo o d /Clo th s /etc .                                                                                                                                                                                                                                                                                     0
 Ren t/M o r tg ag e                                                                                                                                                                                                                                                                                         0
 Au to                                                                                                                                                                                                                                                                                                       0
 Oth er                                                                                                                                                                                                                                                                                                      0
   In c o m e & SS                                                                                                                             500                                                                                                                                                         500
                                                                  -----J-----      -----F-----                 -----M-----         -----A-----     -----M-----           -----J-----       ----JULY---       -----A-----        -----S-----       -----O-----       -----N-----       -----D-----
Total Non-Farm Cash Outflows                                                 1413         1200                         1328                 2195          3029                   1599            1150               1272                 596             2344              2594              1465        20185

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

T o tal Cas h In flo w s                                                              0             8,200             45,360                       0        51,750             16,000          15,000             70,980               7,616          131,107            33,075            40,652                  A

T o tal Cas h Ou tlay s                                                        10,440               9,042              9,528              39,953            22,813             35,837          19,454             33,968             32,287            25,341           111,468            69,498       419,629 B

Su r p lu s o r Defic it                   (A-B )                             -10,440                 -842            35,832             -39,953            28,937            -19,837           -4,454            37,012            -24,671           105,766           -78,393           -28,846        34,311 C

B eg in in g Cas h B al.      (Fr o m Ro w H)                                  34,200             23,760              22,918              58,750            18,797             47,734          27,897             23,443             60,455            35,784           141,550            63,157                  D
              (Ex c ep t fo r Fir s t M o n th )

Cas h Av ailab le                        (C + D)                               23,760             22,918              58,750              18,797            47,734             27,897          23,443             60,455             35,784           141,550            63,157            34,311                  E

B o r r o w to M ain tain              (M in + E)                                     0                    0                   0                   0                 0                 0                 0                  0                 0                 0                 0                 0         0 F
B alan c e B .O.M .

Pay m en t o n             (On ly If Ro w F = 0)                                      0                    0                   0                   0                 0                 0                 0                  0                 0                 0                 0                 0         0 G
o p er atin g lo an         (Pay In ter es t Fir s t)


B alan c e E.O.M . (If Ro w F > 0, M in .)                                     23,760             22,918              58,750              18,797            47,734             27,897          23,443             60,455             35,784           141,550            63,157            34,311                  H
              Oth er w is e (Ro w E - G)

Ac c u m u lated Op er atin g                                                         0                    0                   0                   0                 0                 0                 0                  0                 0                 0                 0                 0              I
L o an                     (See B elo w )


Op er atin g L o an In ter es t           (I * In t.)                                 0                    0                   0                   0                 0                 0                 0                  0                 0                 0                 0                 0              J
T h is M o n th

Ac c u m u lated In ter es t        (Pr ev . K + J )                                  0                    0                   0                   0                 0                 0                 0                  0                 0                 0                 0                 0              K
On o p er atin g L o an

Ac c u m u lated Op er atin g L o an : L in e I
  If L in e E is > M in . B alan c e Des ir ed , Yo u Can M ak e a Pay m en t
  Ad ju s t L in e E, b y T ak in g o u t th e M in . B alan c e Des ir ed
  Pay th e Ac c u m u lated In ter es t Fir s t, L in e K
  After Pay in g th e Ac c u m u lated in ter es t, Pay All o r Par t o f th e Ou ts tan d in g Op er atin g L o an

** Do n o t i n c l u d e ex p en s es i n th es e i tem s th at h av e al r ead y b een
i n c l u d ed i n th e c r o p an d l i v es to c k ex p en s es wh i c h wer e en ter ed
i n th e s c h ed u l es o n a p er ac r e o r p er h ead b as i s . Ex am p l e wo u l d
b e " Hi r ed L ab o r " an d " Di r ec t Cr o p L ab o r " i n Sc h ed u l e H.
Income Statement (Cash and Accrual Adjusted)                                                      CASH-TAX         ACCRUAL
   Case Farm Ranch                                                   For               1996        BASIS           ADJUSTED
Revenue
Cash Receipts From Crops                                                                                216,706          216,706
Cash Receipts From Calves, Feeder Lvstk & Lvstk Products                                                131,107          131,107
Cash From Sales of Cull Raised Livestock (Zero Basis)                                                     33,075  -----NA-----
Revenue Recognition From Raised Breeding Livestock                                                -----NA-----            49,000
Cash Government Payments                                                                                  15,652          15,652
Other Cash Farm Income Sources                                                                             2,200            2,200
Gain/Loss on Capital Sales (Ordinary Course of Business)            Basis       Sales Price          --------        --------
 G or L on Purchased Breeding Lvstk (Part of Sch. 4)                       0              0                    0                0
 G or L on Machinery & Equipment                                           0              0                    0                0
 G or L on Brdng Lvstck Not Capitalized or Depreciated                 49000         33075        -----NA-----           (15,925)
                                                                                                  -----NA-----    -----NA-----
                                                                     -----Inventories----         -----NA-----    -----NA-----
Non-Cash Revenue Adjustments                                     Begining (-) Ending (+)        Adj. = Ending Minus Begining
Crops Held for Sale NOT Feed - Increase (Decrease)                    169140          114648      -----NA-----           (54,492)
Livestock Held For Sale - Increase (Decrease)                                0              0     -----NA-----                  0
  Cost of Lvstck Held for Sale Adj. (Begining - Ending)                      0              0     -----NA-----                  0
Hedging Accounts - Increase (Decrease)                                       0              0     -----NA-----                  0
Accounts Receivable - Increase (Decrease)                                2,200              0     -----NA-----             (2,200)
Government Payments Receivable - Increase (Decrease)                         0              0     -----NA-----                  0
      Other                                                            57,000          57,000     -----NA-----                  0
      Other                                                                  0              0     -----NA-----                  0
                                                              Total Inventory Adjustments         -----NA-----           (56,692)
Gross Revenue                                                                                           398,740          342,048

Cash Operating Expense
 Crop Expenses Collected Per Acre:                                                                      71,904            71,904
 Livestock Expenses Collected on a Per Unit Basis:                                                      10,856            10,856
 Growing and Finishing Livestock -- Per Head & Per Cwt:                                                      0                 0
 Operating Expenses, Whole Farm Level: (Less Inc. & SS Tax)                                            105,735           105,735
 Rent/Lease Exp.:                                                                                       12,000            12,000
 Cash Interest Exp. (Include Operating and Term Debt Int.)                           63,759             63,759            63,759
Total Cash Operating Expense                                                                           264,254           264,254
Depreciation Expense For Year                                                        54,108             54,108            54,108
Other Non-cash Expense Adjustments:
        See Balance Sheet for Adjustment Amounts                   -----Accounts----
Adjustments from the Asset Side of Balance Sheet                 Begining (+) Ending (-) Adj. = Begining Minus Ending
  Supplies & Prepaid Exp. - Decrease (Increase)                        5,800          5,200 -----NA-----              600
  Investment in Growing Crops - Decrease (Increase)                  28,149          28,149 -----NA-----                0
  Crops Held for Feed NOT for Sale - Decrease (Increase)             38,008          50,923 -----NA-----         (12,915)
      Other                                                                0              0 -----NA-----                0
Adjustments from the Liability Side of Balance Sheet             Begining (-) Ending (+) Adj. = Ending Minus Begining
  Accounts Payable - Increase (Decrease)                               3,200              0 -----NA-----           (3,200)
  Short Term Notes Payable - Inc (Dec) -Not A.O.L.                         0              0 -----NA-----                0
  Accrued Interest - Increase (Decrease)                             10,006           9,531 -----NA-----             (475)
  Acc. Prop, R.E., Payroll Taxes - Increase (Dec)                      8,750          8,750 -----NA-----                0
  Accrued Lease Payments                                               2,000          2,000 -----NA-----                0
      Other                                                                0              0 -----NA-----                0
                                                     Total Non-cash Expense Adjustments     -----NA-----         (15,990)
Total Expenses                                                                                    318,362        302,372
Net Farm Income From Operations                                                                    80,378         39,676
Capital Gain/Loss (Not Ordinary Course of Business)                 Basis     Sales Price   Sales Price Minus Basis
     G or L on Purchased Breeding Lvstk                                    0              0              0              0
     G or L on Machinery & Equipment                                       0              0              0              0
     G or L on Brdng Lvstck Not Capitalized or Depreciated                 0              0 -----NA-----                0
Net Farm Income or Loss                                                                            80,378         39,676
Taxes
   Cash Income Taxes Paid                                                                                      0                 0
   Cash Self Employment Taxes Paid                                                                          500               500
                                                                   ------Accounts------           -----NA-----      -----NA-----
Tax Adjustments -- Liability Side of Balance Sheet               Begining (-) Ending (+)          -----NA-----      -----NA-----
  Accrued Income Taxes - Increase (Decrease)                               0             0        -----NA-----                   0
  Accrued Soc. Security Taxes - Increase (Decrease)                        0             0        -----NA-----                   0
  Current Deferred Taxes - Increase (Decrease)                      111,492         92,810        -----NA-----            (18,682)
Total Taxes and Tax Adjustments                                                                             500           (18,182)
Income After Taxes - Before Extraordinary Items                                                         79,878             57,858
  Extraordinary Items (Net of Taxes)                                                                           0                 0
Net Income After Extraordinary Items                                                                    79,878            57,858



Discrepancy Reported by Statement of Owner Equity - See OwnerEquity tab                                       0                 0
                                                    Statem ent of Cash Flows
Name            Case Farm Ranch                              For 12 month Period Ending
Address                                                      Phone

Cash Flows From Operating Activities:
  Cash received from farm operations:
    Market Livestock & Poultry Sales                                                 131,107
    Crop and feed sales                                                              216,706
    Custom work income                                                                     0
    Livestock & poultry products                                                           0
    Government payments, cash and certificates                                        15,652
    Hedging account withdrawals                                                            0
    Patronage dividends (cash only)                                                        0
    Other revenues                                                                     2,200
               Subtotal cash received from farm operations                           365,665      1   +
  Cash received from non-farm income and operations:
    W ages                                                                                  0
    Royalities                                                                              0
    Interest and dividends                                                                  0
    Other revenue                                                                           0
    Cash income from other entities, farms, businesses & real estate                        0
                Subtotal cash received from non-farm income & operations                    0     2   +
  Cash paid for farm operating activities:
    Market livestock and poultry                                                            0
    Feed purchased                                                                      7,795
    Operating expenses                                                                192,700
    Interest expense                                                                   63,760
    Hedging account deposits                                                                0
                Subtotal cash paid for farm operating activities                     (264,255)    3
  Cash expenses paid in non-farm operations (other entities, farms, businesses)                   4    -         0
  Income and social security taxes paid in cash                                                   5    -       500
  Extraordinary items received or paid in cash (Enter a negative number as a negative)            6   +/-        0
                Net Cash Income: (add lines 1 through 6)                                          7                   100,910
  Cash withdrawals for family living                                                              8    -     19,685
  Cash withdrawals for investments into personal assets                                           9    -         0
                Net Cash Provided by Operating Activities: (line 7 - line 8 & 9)                 10                    81,225
Cash Flows From Investing Activities:
  Cash received form the sale of:
     Raised breeding & dairy livestock, not capitalized and not depreciated                      11   +      33,075
     Purchased &raised breeding/dairy livestock, capitalized and depreciated                     12   +          0
     Machinery and equipment                                                                     13   +          0
     Farm real estate; Other farm assets                                                         14   +          0
     Bonds and securties; investments in other entities; other non-farm assets                   15   +          0
  Cash paid to purchase:
     Breeding and dairy livestock                                                                16    -      8,000
     Machinery and equipment                                                                     17    -         0
     Farm real estate and other farm assets                                                      18    -         0
     Capital leases                                                                              19    -         0
     Bonds and securities; investments in other entities; other non-farm assets                  20    -         0
                Net Cash Provided by Investing Activities: (add lines 11 through 20)             21                    25,075
Cash Flows From Financing Activities:
  Operating and CCC loans received (include interest paid by loan renewal)                       22   +      21,000
  Term debt financing (loan proceeds)                                                            23   +          0
  Cash received from gifts, inheritances and paid-in capital                                     24   +          0
  Personal investments of cash added into business assets                                        25   +          0
  Operating debt principal payments (include repayment of CCC loans)                             26   -      24,000
  Term debt principal payments:        Scheduled Payments                                        27   -     103,189
                                       Unscheduled payments                                      28   -          0
  Principal portion of payments on capital leases                                                29   -          0
  Cash distribution of dividends, capital, or gifts                                              30   -          0
                Net Cash Provided by Financing Activities: ( add lines 22 through 30)            31                   (106,189)
Net Increase (Decrease) in Cash and Cash Equivalents (add lines 10, 21 & 31)                     32                        111
Cash and cash equivalents reported on the beginning of year Balance Sheet                        33                     34,200

Cash and cash equivalents, as calculated at the end of the year (line 32 + 33)                   34                    34,311
Cash and cash equivalents reported on the end of year Balance Sheet                              35                    34,311
Discrepancy in cash and cash equivalents as calculted and reported (line 34 minus 35)            36                         0
   Statement of Owner Equity
   For:     Case Farm Ranch                                 Year              1996
       This statment reconciles against the net worth of the business only.          Cost or       Market
              Persoanl (Non-Farm) Assets and Liabilities are ignored.                 Book         Value
Change Due to Retained Earnings
 Net Income After Extraordinary Items (Accrual Adjusted)                         1     57,858        57,858     From Income Statement
 Minus:
           Cash Owner Withdrawals (Net of Income & SS Taxes)                     2     19,685        19,685     From Cash Flow Statement
           Farm Product Consumption                                              3          0             0
           Unaccounted for Cash Withdrawals                                      4          0             0
Total Change in Equity From Retained Earnings                                    5     38,173        38,173     Line 1-2-3-4

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

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

To tal Ch an g e in Eq u ity Du e to
Co n trib u ted -Distrib u ted Cap ital                                         26             0            0   Line 15 - Line 25

Change in Equity Due to:
           Valuation Change in Farm Assets                                      27                   30,842     From Valuation Equity Form'
           Valuation Chane in Nonfarm Capital Assets                            28                        0
           Valuation Change in Nonfarm Liabilities                              29                        0
To tal Ch an g e in Eq u ity Du e to Valu atio n Ch an g es                     30                   30,842     Sum Lines 45 through 47

Owner Equity Reconciliations:

 Beginning Owner Equity                                                         31   1,127,148     1,603,444    From Beginning Balance Sheet
 Plus:
         Change Due to Retained Earnings                                        32     38,173         38,173    From Line 5
         Change Due to Contributed/Distributed Capital                          33          0              0    From Line 26
         Change Due to Valuation Equity                                         34                    30,842    From Line 30
Calcu lated En d in g Ow n er Eq u ity                                          35   1,165,321     1,672,459    Line 32+33+34
Reported Ending Owner Equity                                                    36   1,165,321     1,672,459    From Actual Ending Balance Sheet

Discrep en cy                                                                   37             0            0   Line 35-36




                        Blank Form

                           Statement of Owner Equity
                                                                                     Cost or       Market
                                                                                      Book         Value
Change Due to Retained Earnings
 Net Income After Extraordinary Items (Accrual Adjusted)                         1                              From Income Statement
 Minus:
          Cash Family Living Withdrawals                                         2                              From Cash Flow Statement
          Farm Product Consumption                                               3
          Unaccounted for Cash Withdrawals                                       4
Total Change in Equity From Retained Earnings                                    5                              Line 1-2-3-4

Change Due to Capital Contributions - Distributions
 Capital Contributins-Gifts Received-Inhertiance
           Cash                                                                  6
           Marketable Securities                                                 7
           Nonmarketable Securties                                               8
           Breeding Stock                                                        9
           Machiner & Equipment                                                 10
           Real Estate, Buildings & Improvements                                11
           Other Farm Assets                                                    12
           Other Farm Assets                                                    13
           Nonfarm Assets                                                       14
                       Total Capital Contributions                              15                              Sum Lines 6 through 14

 Capital Distributions-Gifts Given-Dividends
           Cash                                                                 16
           Marketable Securities                                                17
           Nonmarketable Securties                                              18
           Breeding Stock                                                       19
           Machiner & Equipment                                                 20
           Real Estate, Buildings & Improvements                                21
           Other Farm Assets                                                    22
           Other Farm Assets                                                    23
           Nonfarm Assets                                                       24
                        Total Capital Distributions                             25                              sum Lines 16 through 24

To tal Ch an g e in Eq u ity Du e to
Co n trib u ted -Distrib u ted Cap ital                                         26                              Line 15 - Line 25

Change in Equity Due to:
           Valuation Change in Farm Assets                                      27                              From Valuation Equity Form'
           Valuation Chane in Nonfarm Capital Assets                            28
           Valuation Change in Nonfarm Liabilities                              29
To tal Ch an g e in Eq u ity Du e to Valu atio n Ch an g es                     30                              Sum Lines 45 through 47

Owner Equity Reconciliations:

 Beginning Owner Equity                                                         31                              From Beginning Balance Sheet
 Plus:
         Change Due to Retained Earnings                                        32                              From Line 5
         Change Due to Contributed/Distributed Capital                          33                              From Line 26
         Change Due to Valuation Equity                                         34                              From Line 30
Calcu lated En d in g Ow n er Eq u ity                                          35                              Line 32+33+34
Reported Ending Owner Equity                                                    36                              From Actual Ending Balance Sheet

Discrep en cy                                                                   37                              Line 35-36
Valuation Equity Statement
  For:   Case Farm Ranch                        Year       1996
Beginning Valuation Equity
    From Beginning Balance Sheet:
         Total Current Assets
                     Market Value                 1     334,497                From Beginning Balance Shee
                     Cost or Book Value           2     334,497                From Beginning Balance Shee
                     Difference                   3                       0    Line 1-2

         Total Noncurrent Assets
                    Market Value                  4    2,620,500               From Beginning Balance Shee
                    Cost or Book Value            5    1,559,332               From Beginning Balance Shee
                    Difference                    6                1,061,168   Line 4-5

         Nonfarm Liabilities                      7                       0    From Beginning Balance Shee

         Noncurrent Portion of Deferred Taxes     8                 584,872    From Beginning Balance Shee

         Total Beginning Valuation Equity         9                 476,296    Line 6-7-8

Ending Valuation Equity
    From Ending Balance Sheet:
         Total Current Assets
                     Market Value                10     290,231                From Ending Balance Sheet
                     Cost or Book Value          11     290,231                From Ending Balance Sheet
                     Difference                  12                       0    Line 10-11

         Total Noncurrent Assets
                    Market Value                 13    2,628,500               From Ending Balance Sheet
                    Cost or Book Value           14    1,513,224               From Ending Balance Sheet
                    Difference                   15                1,115,276   Line 13-14

         Nonfarm Liabilities                     16                       0    From Ending Balance Sheet

         Noncurrent Portion of Deferred Taxes    17                 608,139    From Ending Balance Sheet

         Total Ending Valuation Equity           18                 507,137    Line 15-16-17

Change in Valuation Equity
         Total Ending Valuation Equity           19                 507,137    From Line 18
         Minus:
         Total Beginning Valuation Equity        20                 476,296    From Line 9

Total Change in Valuation Equity                 21                  30,842    Line 19-20




                     Blank Form

                     Valuation Equity
Beginning Valuation Equity
    From Beginning Balance Sheet:
         Total Current Assets
                     Market Value               1    From Beginning Balance Shee
                     Cost or Book Value         2    From Beginning Balance Shee
                     Difference                 3    Line 1-2

         Total Noncurrent Assets
                    Market Value                4    From Beginning Balance Shee
                    Cost or Book Value          5    From Beginning Balance Shee
                    Difference                  6    Line 4-5

         Nonfarm Liabilities                    7    From Beginning Balance Shee

         Noncurrent Portion of Deferred Taxes   8    From Beginning Balance Shee

         Total Beginning Valuation Equity       9    Line 6-7-8

Ending Valuation Equity
    From Ending Balance Sheet:
         Total Current Assets
                     Market Value               10   From Ending Balance Sheet
                     Cost or Book Value         11   From Ending Balance Sheet
                     Difference                 12   Line 10-11

         Total Noncurrent Assets
                    Market Value                13   From Ending Balance Sheet
                    Cost or Book Value          14   From Ending Balance Sheet
                    Difference                  15   Line 13-14

         Nonfarm Liabilities                    16   From Ending Balance Sheet

         Noncurrent Portion of Deferred Taxes   17   From Ending Balance Sheet

         Total Ending Valuation Equity          18   Line 15-16-17

Change in Valuation Equity
         Total Ending Valuation Equity          19   From Line 18
         Minus:
         Total Beginning Valuation Equity       20   From Line 9

Total Change in Valuation Equity                21   Line 19-20
m Beginning Balance Sheet
m Beginning Balance Sheet



m Beginning Balance Sheet
m Beginning Balance Sheet


m Beginning Balance Sheet

m Beginning Balance Sheet




m Ending Balance Sheet
m Ending Balance Sheet



m Ending Balance Sheet
m Ending Balance Sheet


m Ending Balance Sheet

m Ending Balance Sheet

 15-16-17



m Line 18

m Line 9
m Beginning Balance Sheet
m Beginning Balance Sheet



m Beginning Balance Sheet
m Beginning Balance Sheet


m Beginning Balance Sheet

m Beginning Balance Sheet




m Ending Balance Sheet
m Ending Balance Sheet



m Ending Balance Sheet
m Ending Balance Sheet


m Ending Balance Sheet

m Ending Balance Sheet

 15-16-17



m Line 18

m Line 9
Financial Statement Ratios Suggested by the FFSG
              For:     Case Farm Ranch                                                 Fiscal Year         1996
                       Ratios and Measures Calculated Using Cost Basis Information
Liquidity                                                                                 Cost Basis
  Current Ratio                                                                   Beginning                         Ending
            Current Assets                                                   334,497                     290,231
            divided by Current Liabilities                                   299,638          1.12       281,360                1.03
  Working Capital
         Current Assets                                                      334,497                     290,231
         - Current Liabilities                                               299,638      $34,859        281,360              $8,871
Solvency
  Debt/Asset Ratio                                                                Beginning                         Ending
         Total Farm Liabilities                                              766,681                     638,134
         divided by Total Farm Assets                                      1,893,829       40.48%      1,803,455             35.38%
  Equity/Asset Ratio
         Total Farm Equity                                                 1,127,148                   1,165,321
         divided by Total Farm Assets                                      1,893,829       59.52%      1,803,455             64.62%
  Debt/Equity Ratio
         Total Farm Liabilities                                              766,681                     638,134
         divided by Total Farm Equity                                      1,127,148       68.02%      1,165,321             54.76%
Profitability
  Rate of Return on Farm Assets
         Net Farm Income From Operations                                                                  39,676
         + Farm Interest Expense                                                                          63,284
         - Value of Operator and Unpaid Family Labor & Management                                         25,000
            Divided by Average Total Farm Assets                                                       1,848,642               4.22%


  Rate of Return on Farm Equity
         Net Farm Income From Operations                                                                  39,676
         - Value of Operator and Unpaid Family Labor & Management                                         25,000
            Divided by Average Total Farm Equity                                                       1,146,235               1.28%


  Operating Profit Margin Ratio
         Net Farm Income From Operations                                                                  39,676
         + Farm Interest Expense                                                                          63,284
         - Value of Operator and Unpaid Family Labor & Management                                         25,000
            Divided by Gross Revenue                                                                     342,048             22.79%


  Net Farm Income
         Calculated by Matching Revenues and Expense (Accrual) Plus
         Gain or Loss on the Sale of Capital Assets                                                                      $39,676.00

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

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

Financial Efficiency
  Asset Turnover Ratio
         Gross Revenues                                                                                  342,048
         divided by Average Total Farm Assets                                                          1,848,642              0.1850
  Operating Expense Ratio
         Total Operating Expense                                                                         239,088
         - Depreciation & Amortization Expense                                                            54,108
            Divided by Gross Revenues                                                                    342,048             54.08%


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


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


  Net Farm Income From Operations Ratio
         Net Farm Income From Operations                                                                  39,676
         divided by Gross Revenues                                                                       342,048              11.60%
                                                                                                                             100.00%   Check Sum
Financial Statement Ratios Suggested by the FFSG
              For:     Case Farm Ranch                                                 Fiscal Year          1996
                       Ratios and Measures Calculated Using Market Value Information
Liquidity                                                                                Market Value
  Current Ratio                                                                   Beginning                          Ending
            Current Assets                                                   334,497                     290,231
            divided by Current Liabilities                                   299,638          1.12       281,360                1.03
  Working Capital
         Current Assets                                                      334,497                     290,231
         - Current Liabilities                                               299,638      $34,859        281,360              $8,871
Solvency
  Debt/Asset Ratio                                                                Beginning                          Ending
         Total Farm Liabilities                                            1,351,553                    1,246,272
         divided by Total Farm Assets                                      2,954,997       45.74%       2,918,731             42.70%
  Equity/Asset Ratio
         Total Farm Equity                                                 1,603,444                    1,672,459
         divided by Total Farm Assets                                      2,954,997       54.26%       2,918,731             57.30%
  Debt/Equity Ratio
         Total Farm Liabilities                                            1,351,553                    1,246,272
         divided by Total Farm Equity                                      1,603,444       84.29%       1,672,459             74.52%
Profitability
  Rate of Return on Farm Assets
         Net Farm Income From Operations                                                                  39,676
         + Farm Interest Expense                                                                          63,284
         - Value of Operator and Unpaid Family Labor & Management                                         25,000
            Divided by Average Total Farm Assets                                                        2,936,864              2.65%


  Rate of Return on Farm Equity
         Net Farm Income From Operations                                                                  39,676
         - Value of Operator and Unpaid Family Labor & Management                                         25,000
            Divided by Average Total Farm Equity                                                        1,637,951              0.90%


  Operating Profit Margin Ratio
         Net Farm Income From Operations                                                                  39,676
         + Farm Interest Expense                                                                          63,284
         - Value of Operator and Unpaid Family Labor & Management                                         25,000
            Divided by Gross Revenue                                                                     342,048              22.79%


  Net Farm Income
         Calculated by Matching Revenues and Expense (Accrual) Plus
         Gain or Loss on the Sale of Capital Assets                                                                       $39,676.00

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

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

Financial Efficiency
  Asset Turnover Ratio
         Gross Revenues                                                                                  342,048
         divided by Average Total Farm Assets                                                           2,936,864             0.1165
  Operating Expense Ratio
         Total Operating Expense                                                                         239,088
         - Depreciation & Amortization Expense                                                            54,108
            Divided by Gross Revenues                                                                    342,048              54.08%


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


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


  Net Farm Income From Operations Ratio
         Net Farm Income From Operations                                                                  39,676
         divided by Gross Revenues                                                                       342,048               11.60%
                                                                                                                              100.00% Check Sum
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