<PAGE> PAGE 1
000 B000000 03/31/97
000 C000000 0000710977
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 MOSAIC EQUITY TRUST
001 B000000 811-3615
001 C000000 7035283600
002 A000000 1655 FT. MYER DRIVE
002 B000000 ARLINGTON
002 C000000 VA
002 D010000 22209
002 D020000 3108
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 MID-CAP GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 INVESTORS FUND
007 C030200 N
007 C010300 3
007 C020300 EQUITY INCOME FUND
007 C030300 N
007 C010400 4
007 C020400 WORLDWIDE GROWTH FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 BANKERS FINANCE ADVISORS, LLC
008 B00AA01 A
008 C00AA01 801-52751
008 D01AA01 ARLINGTON
008 D02AA01 VA
008 D03AA01 22209
008 D04AA01 3108
008 A00AA02 MADISON INVESTMENT ADVISORS, INC.
008 B00AA02 A
008 C00AA02 801-9840
<PAGE> PAGE 2
008 D01AA02 MADISON
008 D02AA02 WI
008 D03AA02 53705
011 A00AA01 GIT INVESTMENT SERVICES, INC.
011 B00AA01 8-27394
011 C01AA01 ARLINGTON
011 C02AA01 VA
011 C03AA01 22209
011 C04AA01 3108
012 A00AA01 MOSAIC EQUITY TRUST
012 B00AA01 84-1322
012 C01AA01 ARLINGTON
012 C02AA01 VA
012 C03AA01 22209
012 C04AA01 3108
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 WASHINGTON
013 B02AA01 DC
013 B03AA01 20036
015 A00AA01 STAR BANK, NA
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 14
019 C00AA00 MOSAICFUND
020 A000001 PERSHING THOMSON
020 B000001 132741729
020 C000001 73
020 A000002 DONALDSON LUFKIN JENRETTE
020 B000002 131898818
020 C000002 20
020 A000003 DEAN WITTER
020 B000003 941671384
020 C000003 7
020 A000004 MERRILL LYNCH
020 B000004 135674085
020 C000004 4
020 A000005 PRUDENTIAL
020 B000005 222347336
020 C000005 3
020 A000006 SMITH BARNEY
020 B000006 1319129000
020 C000006 3
020 A000007 CLEARY GULL
020 B000007 391567700
020 C000007 3
020 A000008 PEREGRINE
<PAGE> PAGE 3
020 B000008 133580644
020 C000008 2
020 A000009 MORGAN GRENFELL
020 B000009 132730828
020 C000009 2
020 A000010 ING BARING
020 B000010 042455153
020 C000010 2
021 000000 132
022 A000001 DONALDSON LUFKIN & JENRETTE
022 B000001 131898818
022 C000001 779396
022 D000001 2045
022 A000002 PAINE WEBBER
022 B000002 132638166
022 C000002 428
022 D000002 3486
022 A000003 CLEARY GULL
022 B000003 391567700
022 C000003 2247
022 D000003 1311
022 A000004 SMITH BARNETY
022 B000004 131912900
022 C000004 969
022 D000004 1395
022 A000005 PRUDENTIAL
022 B000005 222347336
022 C000005 420
022 D000005 1747
022 A000006 MERRILL LYNCH
022 B000006 135674085
022 C000006 797
022 D000006 1109
022 A000007 CJ LAWRENCE
022 B000007 132730828
022 C000007 493
022 D000007 280
022 A000008 CONVEST PARTNERS
022 B000008 752593170
022 C000008 443
022 D000008 232
022 A000009 WILLIAM BLAIR
022 B000009 362214610
022 C000009 281
022 D000009 300
022 A000010 RODMAN & RENSHAW
022 B000010 362679547
022 C000010 338
022 D000010 174
023 C000000 787211
023 D000000 12373
<PAGE> PAGE 4
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
<PAGE> PAGE 5
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
077 A000000 Y
077 B000000 Y
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 3000
081 A00AA00 Y
081 B00AA00 14
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
028 A010100 871
028 A020100 0
028 A030100 0
028 A040100 1491
028 B010100 1742
028 B020100 0
028 B030100 0
028 B040100 1408
028 C010100 3275
028 C020100 2518
028 C030100 0
028 C040100 5258
028 D010100 7762
028 D020100 0
028 D030100 0
028 D040100 5618
028 E010100 5026
028 E020100 0
028 E030100 0
028 E040100 8589
028 F010100 3200
028 F020100 0
028 F030100 0
028 F040100 3422
028 G010100 21876
028 G020100 2518
028 G030100 0
028 G040100 25786
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
<PAGE> PAGE 6
030 C000100 0.00
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.750
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
<PAGE> PAGE 7
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 16970
071 B000100 22981
071 C000100 13337
071 D000100 127
072 A000100 12
072 B000100 104
072 C000100 123
072 D000100 0
072 E000100 0
072 F000100 114
072 G000100 0
072 H000100 60
072 I000100 16
072 J000100 5
072 K000100 4
072 L000100 4
072 M000100 3
072 N000100 10
<PAGE> PAGE 8
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 10
072 S000100 1
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 18
072 X000100 245
072 Y000100 0
072 Z000100 -18
072AA000100 4735
072BB000100 0
072CC010100 0
072CC020100 5200
072DD010100 15
072DD020100 0
072EE000100 9039
073 A010100 0.0180
073 A020100 0.0000
073 B000100 10.1030
073 C000100 0.0000
074 A000100 0
074 B000100 435
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 10130
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 416
074 K000100 0
074 L000100 5
074 M000100 0
074 N000100 10986
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 22
074 S000100 0
074 T000100 10964
074 U010100 1110
074 U020100 0
074 V010100 9.88
074 V020100 0.00
074 W000100 0.0000
<PAGE> PAGE 9
074 X000100 1174
074 Y000100 0
075 A000100 0
075 B000100 15170
076 000100 0.00
028 A010200 183
028 A020200 0
028 A030200 0
028 A040200 131
028 B010200 134
028 B020200 0
028 B030200 0
028 B040200 296
028 C010200 67
028 C020200 656
028 C030200 0
028 C040200 229
028 D010200 85
028 D020200 0
028 D030200 0
028 D040200 273
028 E010200 82
028 E020200 0
028 E030200 0
028 E040200 126
028 F010200 62
028 F020200 0
028 F030200 0
028 F040200 88
028 G010200 613
028 G020200 656
028 G030200 0
028 G040200 1143
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.750
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
<PAGE> PAGE 10
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 1000
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
<PAGE> PAGE 11
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 8733
071 B000200 9903
071 C000200 7024
071 D000200 124
072 A000200 12
072 B000200 29
072 C000200 73
072 D000200 0
072 E000200 0
072 F000200 57
072 G000200 0
072 H000200 26
072 I000200 6
072 J000200 2
072 K000200 2
072 L000200 2
072 M000200 3
072 N000200 2
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 3
072 S000200 1
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 9
072 X000200 119
072 Y000200 0
072 Z000200 -17
072AA000200 1560
072BB000200 0
072CC010200 0
072CC020200 855
072DD010200 0
072DD020200 0
<PAGE> PAGE 12
072EE000200 1092
073 A010200 0.0000
073 A020200 0.0000
073 B000200 3.2400
073 C000200 0.0000
074 A000200 1
074 B000200 918
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 6430
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 5
074 M000200 0
074 N000200 7354
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 15
074 S000200 0
074 T000200 7339
074 U010200 354
074 U020200 0
074 V010200 20.73
074 V020200 0.00
074 W000200 0.0000
074 X000200 598
074 Y000200 0
075 A000200 0
075 B000200 7594
076 000200 0.00
028 A010300 105
028 A020300 0
028 A030300 0
028 A040300 28
028 B010300 76
028 B020300 0
028 B030300 0
028 B040300 33
028 C010300 75
028 C020300 508
028 C030300 0
028 C040300 97
028 D010300 49
<PAGE> PAGE 13
028 D020300 0
028 D030300 0
028 D040300 143
028 E010300 110
028 E020300 0
028 E030300 0
028 E040300 80
028 F010300 25
028 F020300 0
028 F030300 0
028 F040300 23
028 G010300 440
028 G020300 508
028 G030300 0
028 G040300 404
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.750
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
<PAGE> PAGE 14
061 000300 1000
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 N
066 F000300 Y
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 3926
071 B000300 4050
071 C000300 4355
<PAGE> PAGE 15
071 D000300 90
072 A000300 12
072 B000300 25
072 C000300 139
072 D000300 0
072 E000300 0
072 F000300 36
072 G000300 0
072 H000300 15
072 I000300 4
072 J000300 1
072 K000300 1
072 L000300 1
072 M000300 3
072 N000300 9
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 2
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 5
072 X000300 77
072 Y000300 0
072 Z000300 87
072AA000300 1097
072BB000300 0
072CC010300 0
072CC020300 572
072DD010300 89
072DD020300 0
072EE000300 553
073 A010300 0.3810
073 A020300 0.0000
073 B000300 2.3630
073 C000300 0.0000
074 A000300 1
074 B000300 372
074 C000300 0
074 D000300 617
074 E000300 0
074 F000300 3954
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 16
074 M000300 0
<PAGE> PAGE 16
074 N000300 4960
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 0
074 S000300 0
074 T000300 4960
074 U010300 259
074 U020300 0
074 V010300 19.17
074 V020300 0.00
074 W000300 0.0000
074 X000300 348
074 Y000300 0
075 A000300 0
075 B000300 4758
076 000300 0.00
028 A010400 4
028 A020400 0
028 A030400 0
028 A040400 356
028 B010400 20
028 B020400 0
028 B030400 0
028 B040400 182
028 C010400 23
028 C020400 0
028 C030400 0
028 C040400 49
028 D010400 156
028 D020400 0
028 D030400 0
028 D040400 94
028 E010400 42
028 E020400 0
028 E030400 0
028 E040400 73
028 F010400 155
028 F020400 0
028 F030400 0
028 F040400 188
028 G010400 400
028 G020400 0
028 G030400 0
028 G040400 942
028 H000400 0
045 000400 Y
046 000400 N
<PAGE> PAGE 17
047 000400 Y
048 000400 1.000
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 5000
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
<PAGE> PAGE 18
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 1184
071 B000400 2002
071 C000400 2546
071 D000400 46
072 A000400 12
072 B000400 16
072 C000400 58
072 D000400 0
072 E000400 0
072 F000400 28
072 G000400 0
072 H000400 10
072 I000400 3
072 J000400 19
072 K000400 1
072 L000400 1
072 M000400 3
072 N000400 10
072 O000400 0
<PAGE> PAGE 19
072 P000400 0
072 Q000400 0
072 R000400 1
072 S000400 0
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 9
072 X000400 85
072 Y000400 14
072 Z000400 3
072AA000400 54
072BB000400 0
072CC010400 229
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 1
074 B000400 348
074 C000400 0
074 D000400 0
074 E000400 364
074 F000400 1863
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 6
074 M000400 0
074 N000400 2582
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 0
074 S000400 0
074 T000400 2582
074 U010400 235
074 U020400 0
074 V010400 10.97
074 V020400 0.00
074 W000400 0.0000
074 X000400 226
<PAGE> PAGE 20
074 Y000400 0
075 A000400 0
075 B000400 2840
076 000400 0.00
SIGNATURE RICHARD MASON
TITLE GENERAL COUNSEL
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
registrant's current Form NSAR, Annual Report and prospectus and is qualified in
its entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 1
<NAME> MID-CAP GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 10,682
<INVESTMENTS-AT-VALUE> 10,565
<RECEIVABLES> 421
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10,986
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 22
<TOTAL-LIABILITIES> 22
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,079
<SHARES-COMMON-STOCK> 1,110
<SHARES-COMMON-PRIOR> 834
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,003
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (117)
<NET-ASSETS> 10,964
<DIVIDEND-INCOME> 123
<INTEREST-INCOME> 104
<OTHER-INCOME> 0
<EXPENSES-NET> 245
<NET-INVESTMENT-INCOME> (18)
<REALIZED-GAINS-CURRENT> 4,735
<APPREC-INCREASE-CURRENT> (5,200)
<NET-CHANGE-FROM-OPS> (465)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 15
<DISTRIBUTIONS-OF-GAINS> 9,039
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 31,471
<NUMBER-OF-SHARES-REDEEMED> 36,554
<SHARES-REINVESTED> 8,494
<NET-CHANGE-IN-ASSETS> 3,411
<ACCUMULATED-NII-PRIOR> 15
<ACCUMULATED-GAINS-PRIOR> 6,308
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 114
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 245
<AVERAGE-NET-ASSETS> 15,170
<PER-SHARE-NAV-BEGIN> 20.488
<PER-SHARE-NII> (0.016)
<PER-SHARE-GAIN-APPREC> 0.469
<PER-SHARE-DIVIDEND> 0.018
<PER-SHARE-DISTRIBUTIONS> 10.103
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.882
<EXPENSE-RATIO> 1.616
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
registrant's current Form NSAR, Annual Report and prospectus and is qualified in
its entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 2
<NAME> INVESTORS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 6,606
<INVESTMENTS-AT-VALUE> 7,347
<RECEIVABLES> 5
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 7,354
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14
<TOTAL-LIABILITIES> 14
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,771
<SHARES-COMMON-STOCK> 354
<SHARES-COMMON-PRIOR> 336
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 828
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 741
<NET-ASSETS> 7,339
<DIVIDEND-INCOME> 74
<INTEREST-INCOME> 29
<OTHER-INCOME> 0
<EXPENSES-NET> 119
<NET-INVESTMENT-INCOME> (17)
<REALIZED-GAINS-CURRENT> 1,560
<APPREC-INCREASE-CURRENT> (855)
<NET-CHANGE-FROM-OPS> 705
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1,092
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,356
<NUMBER-OF-SHARES-REDEEMED> 1,975
<SHARES-REINVESTED> 973
<NET-CHANGE-IN-ASSETS> 354
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 360
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 57
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 119
<AVERAGE-NET-ASSETS> 7,594
<PER-SHARE-NAV-BEGIN> 21.990
<PER-SHARE-NII> (0.048)
<PER-SHARE-GAIN-APPREC> 2.032
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 3.240
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.734
<EXPENSE-RATIO> 1.572
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
registrant's current Form NSAR, Annual Report and Prospectus and is qualified
in its entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC INCOME TRUST
<SERIES>
<NUMBER> 3
<NAME> EQUITY INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 4,140
<INVESTMENTS-AT-VALUE> 4,943
<RECEIVABLES> 16
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,960
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,771
<SHARES-COMMON-STOCK> 354
<SHARES-COMMON-PRIOR> 336
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 828
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 741
<NET-ASSETS> 7,339
<DIVIDEND-INCOME> 139
<INTEREST-INCOME> 25
<OTHER-INCOME> 0
<EXPENSES-NET> 77
<NET-INVESTMENT-INCOME> 87
<REALIZED-GAINS-CURRENT> 1,097
<APPREC-INCREASE-CURRENT> (573)
<NET-CHANGE-FROM-OPS> 524
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 89
<DISTRIBUTIONS-OF-GAINS> 553
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 787
<NUMBER-OF-SHARES-REDEEMED> 800
<SHARES-REINVESTED> 564
<NET-CHANGE-IN-ASSETS> 550
<ACCUMULATED-NII-PRIOR> 18
<ACCUMULATED-GAINS-PRIOR> (26)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 36
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 77
<AVERAGE-NET-ASSETS> 4,758
<PER-SHARE-NAV-BEGIN> 19.330
<PER-SHARE-NII> 0.366
<PER-SHARE-GAIN-APPREC> 2.222
<PER-SHARE-DIVIDEND> 0.381
<PER-SHARE-DISTRIBUTIONS> 2.363
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.174
<EXPENSE-RATIO> 1.619
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
registrant's current Form NSAR, Annual Report and prospectus and is qualified in
its entirety by reference to such source documents.
</LEGEND>
<CIK> 0000710977
<NAME> MOSAIC EQUITY TRUST
<SERIES>
<NUMBER> 4
<NAME> WORLDWIDE GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 2,400
<INVESTMENTS-AT-VALUE> 2,575
<RECEIVABLES> 7
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,582
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,946
<SHARES-COMMON-STOCK> 235
<SHARES-COMMON-PRIOR> 316
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (539)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 175
<NET-ASSETS> 2,582
<DIVIDEND-INCOME> 58
<INTEREST-INCOME> 16
<OTHER-INCOME> 0
<EXPENSES-NET> 71
<NET-INVESTMENT-INCOME> 3
<REALIZED-GAINS-CURRENT> 54
<APPREC-INCREASE-CURRENT> 229
<NET-CHANGE-FROM-OPS> 283
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53
<NUMBER-OF-SHARES-REDEEMED> 133
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (81)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (600)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 28
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 71
<AVERAGE-NET-ASSETS> 2,840
<PER-SHARE-NAV-BEGIN> 9.862
<PER-SHARE-NII> 0.012
<PER-SHARE-GAIN-APPREC> 1.094
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.968
<EXPENSE-RATIO> 2.499
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
