TABLE 7. Whole farm summary, Curry County, 2001. ------------------------------------------------------------------------ GROSS RETURNS WHEAT 194 ACRES CROP $43,650 GRAZING $7,760 ASCS DEFICIENCY $4,106 ASCS DIVERSION $0 CORN FOR GRAIN 306 ACRES CROP $114,704 GRAZING $3,060 ASCS DEFICIENCY $14,780 ASCS DIVERSION $0 _______ GROSS RETURN $188,059 CASH OPERATING EXPENSES SEED $11,916 FERTILIZER $56,491 CHEMICALS $15,592 CROP INSURANCE $100 OTHER PURCHASED INPUTS $0 CANAL WATER $0 FUEL, OIL & LUBRICANTS-EQUIPMENT $5,332 FUEL-IRRIGATION $32,532 REPAIRS $10,486 CUSTOM CHARGES $15,931 LAND TAXES $419 OTHER EXPENSES $20,739 ________ TOTAL CASH EXPENSES $169,539 RETURN OVER CASH EXPENSES $18,521 FIXED EXPENSES $26,970 TOTAL EXPENSES $196,509 NET FARM INCOME ($8,450) LABOR AND MANAGEMENT COSTS $22,704 NET OPERATING PROFIT ($31,154) CAPITAL COSTS INTEREST ON OPERATING CAPITAL $4,992 INTEREST ON EQUIPMENT INVESTMENT $10,679 ________ TOTAL CAPITAL COSTS $15,671 RETURN TO LAND AND RISK ($46,825) ========= ======================================================================== ------------------------------------------------------- RETURN RETURN ON LAND VALUE TO RISK* INVESTMENT** ------------------------------------------------------- $500 /ACRE ($59,625) -5.88% $1,000 /ACRE ($72,425) -3.67% $1,500 /ACRE ($85,225) -2.66% $2,000 /ACRE ($98,025) -2.09% $2,500 /ACRE ********* -1.72% ------------------------------------------------------- * RETURN TO LAND AND RISK MINUS (INTEREST RATE TIMES LAND VALUE TIMES A ** NET OPERATING PROFIT DIVIDED BY (MACHINERY AND EQUIPMENT VALUE PLUS L