Schedule F Worksheet

 PAGE NO.     1            49000100 Happy Acres Farms
 07/01               Y/E 12-31, Pd.  1-01    THRU  6-30,   
                    CB # 1
                   S C H E D U L E    F    W O R K S H E E T
                 THIS REPORT IS BASED ON UNAUDITED INFORMATION
      DESCRIPTION                         ACTUAL     PROJECTED    ADJUSTMENT
      PART I,  FARM INCOME                                                    
            Sale of Raised Products                                           
        LIVESTOCK & LIVESTOCK PRODUCTS                                        
          Dairy Products                   27670        55336     __________  
          6140 Beef Feeders-Feedlot         2704         6860     __________  
          6470 Hogs Farrow Finish           5094        19958     __________  
          6510 Hogs Weaning Pig Prod       45469        80469     __________  
          Other Lvstk Products Sold     ________     ________     __________  
          Misc. Livestock Income        ________     ________     __________  
        CROPS AND OTHER PRODUCTS                                              
          0222 High moisture corn           3088         6165     __________  
          Nursery, Timber and Other     ________     ________     __________  
          Other Crop Income             ________     ________     __________  
       * B) SALES LVSTK/CROPS/OTHER TOT    84025 *     168788 *   __________* 
        ADDITIONAL INCOME                                                     
        Patronage Refunds (1099-PATR)         46           52     __________  
        Government Programs Payment     ________     ________     __________  
        CCC Loans Taken as Income       ________     ________     __________  
        CCC Loan Forfeit/Repaid w/Cert  ________     ________     __________  
        Crop Insurance                  ________     ________     __________  
        Custom Work Income                  2900         7300     __________  
        LEASE INCOME REPORTED ON SCH-E                                        
        Other Income, Incl Fuel Tax CR       637         1911     __________  
       * C) ADDITIONAL INCOME TOTAL         3583 *       9263 *   __________* 

      ** GROSS INCOME (Total Ln A+B+C)     87608 **    178051 **  __________**                                                                            
      ================================= ===========  ===========  ============
      PART II,  FARM EXPENSES                                                 
        Breeding Fees                        235          469     __________  
        Chemicals                           1524         2901     __________  
        Conservation                    ________     ________     __________  
        Custom Hire (Machine work)           405         1035     __________  
        Depreciation (Form 4562)            6000        12000     __________  
        Employee Benefits               ________     ________     __________  
        Feed Purchased                     14162        23018     __________  
        Fertilizer                          5533        12876     __________  
        Freight and Trucking                 646         1288     __________  
        Gasoline, Fuel, and Oil             2622         5238     __________  
        Insurance (other than health)   ________     ________     __________  
        INTEREST...a. Mortgage          ________     ________     __________  
                ...b. Other                 5040        10320     __________  
        Labor Hired                         5667        10938     __________  
        Pension and Profit Sharing           246          246     __________  
        RENT...a. Machine & Equipment   ________     ________     __________  
            ...b. Land, Lvstk, & Other      4745         9990     __________  
        Repairs and Maintenance             2223         4749     __________  
        Seeds and Plants Purchased           594         1104     __________  
        Storage and Warehousing         ________     ________     __________  
        Supplies Purchased                  2188         2746     __________  
        Taxes                                782         1179     __________  
        Utilities                            715         1449     __________  
        Veterinary Fees and Medicine         806         1508     __________  
        Miscellaneous Farm Expense           185          405     __________  
        Personal Consumption  (minus)  - _______     -_______     -_________  
      **    TOTAL EXPENSES                 54318 **    103459 **  __________**
      **      NET FARM PROFIT or (Loss)    33290 **     74592 **  __________**

   NOTE....ADJUSTMENTS MAY HAVE TO BE MADE FOR ACTUAL CASH PAYMENTS
           MADE FOR THE TAX YEAR FOR CASH BASIS TAXPAYERS. 

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