TABLE 7. Whole farm summary, Curry County, 2001. ------------------------------------------------------------------------ GROSS RETURNS WHEAT 330 ACRES CROP $64,350 GRAZING $13,200 ASCS DEFICIENCY $7,625 ASCS DIVERSION $0 GRAIN SORGHUM 170 ACRES CROP $33,150 GRAZING $1,530 ASCS DEFICIENCY $6,078 ASCS DIVERSION $0 _________ GROSS RETURN $125,932 CASH OPERATING EXPENSES SEED $3,062 FERTILIZER $27,465 CHEMICALS $10,849 CROP INSURANCE $100 OTHER PURCHASED INPUTS $0 CANAL WATER $0 FUEL, OIL & LUBRICANTS-EQUIPMENT $6,990 FUEL-IRRIGATION $26,201 REPAIRS $6,059 CUSTOM CHARGES $18,529 LAND TAXES $439 OTHER EXPENSES $23,951 _________ TOTAL CASH EXPENSES $123,645 RETURN OVER CASH EXPENSES $2,287 FIXED EXPENSES $24,064 TOTAL EXPENSES $147,709 NET FARM INCOME ($21,777) LABOR AND MANAGEMENT COSTS $22,403 NET OPERATING PROFIT ($44,180) CAPITAL COSTS INTEREST ON OPERATING CAPITAL $2,889 INTEREST ON EQUIPMENT INVESTMENT $9,359 _________ TOTAL CAPITAL COSTS $12,247 RETURN TO LAND AND RISK ($56,427) ========= ======================================================================== ------------------------------------------------------- RETURN RETURN ON LAND VALUE TO RISK* INVESTMENT** ------------------------------------------------------- $500 /ACRE ($66,827) -11.39% $1,000 /ACRE ($77,227) -6.82% $1,500 /ACRE ($87,627) -4.87% $2,000 /ACRE ($98,027) -3.78% $2,500 /ACRE ********* -3.09% ------------------------------------------------------- * RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES A ** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS L