Table 4. Values of Different Types of Financial Records
|
Balance Sheet |
Cash Flows |
Income |
Owner's |
Checkbook |
Tax | |
|
Mean |
$30,747 |
$17,477 |
$26,180 |
$19,016 |
$13,420 |
$39,755 |
|
Median |
$7,500 |
$1,575 |
$4,500 |
$1,000 |
$1,875 |
$5,000 |
|
Minimum |
$0 |
$0 |
$0 |
$0 |
$0 |
$38 |
|
Maximum |
$500,000 |
$500,000 |
$500,000 |
$500,000 |
$300,000 |
$700,000 |
|
Standard | ||||||
|
Deviation |
488,906 |
$70,418 |
$82,179 |
$474,847 |
$43,273 |
$120,295 |
|
Mean | ||||||
|
Percent |
20.35% |
10.44% |
15.55% |
7.40% |
18.39% |
30.10% |
|
NSBa Mean | ||||||
|
Percent_____ |
27.86% |
10.00% |
14.62% |
8.33% |
17.86% |
32.14% |
a Participants that marked the no submitted bid box.
The assigned percentage weights of the individual records also provide insight on what
records farmers value most. Fifteen of the 18 participants that did not submit a bid price did
provide percentage weights for their financial records (table 4). The percentage weights assigned
by the no-bidders are in most cases similar to those provided by the participants that submitted a
bid price. For both groups of participants, tax records were the most valued records percentage-
wise, followed by the balance sheet, checkbook register, income statement, statement of cash
flows, and the statement of owner’s equity, respectively.
Farmer Characteristics and Bid Values
Because of the wide dispersion of auction bids, farmers were placed in one of four roughly even
sized bid categories: bids between $0 and $14,999, bids between $15,000 and $75,499, bids
$75,000 and greater, and farmers who did not submit a bid. Categorizing the bids into ranges
and including a ‘no submitted bid’ category as a bid range allows participants that did not submit
a bid to be compared to those that did submit a bid when examining factors that influence bid
price.
14