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U) 0) l'- ~ 19 - On an animal-unit basis, investment requirements were $278 for land and buildings and improvements, and $580 total investment per animal unit. Net ranch income in 1962 was $11,603 and return to operator's labor was $2,561. There were few irregularities in 1962 operations; "normalizing" them resulted in net ranch income of $12,211 with return to operator's labor of $3,169. Operator and family labor furnished the equivalent of about 1 1/2 man-equivalents of labor on this ranch. The use of supTllemental water should result in slight increases in yields of harvested feeds, pasture, and greater proeuction of aftermath. The cow herd could be increased to about 227 head of cows ane heifers to calve, together with the in- creased number of feeder cattle. Sales and expenses are increased slightly with supplemental water, and net ranch income and return to operator's labor are also increased slightly. The net gain from use of supplemental water is estimated to be $1,096. ~qO hundred and thirty-two acres of additional land could be added on Ranch IV, bringing the deeded irrigated land to 400 acres and total irrigated land to 472 acres. The herd could be increased to 295 head of cows and heifers to calve with calves fattened to choice slaughter yearlinps. Net ranch income increases to $21,252 and return to operator's and family labor are $9,746. Net gain from the project after payment of addi tional I~ater costs is $6,577 for Ranch IV. Summary of Project Effect on Case-Study Ranches.--Providing supplemental water to existing ranch lands would be beneficial based upon the analysis of four case-study ranches. The beneficial effects are not great in one instance, but do vary depending upon the present circumstances on the ranch. The greatest benefit from the project \~ould occur on the case-study ranches if addi tional land and additional water could be used. The estimated net gain from the project in that case ranges from $4,167 on Ranch I to $8,704 on Ranch II.