Round: 1

Dec. 31, C110188

2020
Andrews Baldwin Chester
keerthika k Kumud Acharya
Devi Prasanth Kaval Lakshay Garg
KOMAL SAINI Lokesh Jain
Kaustubh Sharma Mansan Kharumnuid
Kumar Shivam Mohammad Owais Mans
Abhinav Marda

Digby Erie Ferris

Milind Mandlik Nidhi Pramod Chauhan
Md Nazimuddin Neeharika Kujur Navanth kumar Parva
Mohammed Raashid NITESH KUMAR Priyanka Pathuloth
Mohit Yadav Sanjay Natra Vinaya Patil
N Vignesh Abhijit Patil

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 2.5% 4.3% -2.0% -4.4% 5.4% 5.8%
Asset Turnover 1.07 1.02 0.88 1.01 1.15 1.19
ROA 2.6% 4.4% -1.8% -4.5% 6.2% 6.9%
Leverage 2.0 2.3 2.1 2.2 1.9 1.9
ROE 5.2% 10.3% -3.7% -10.0% 12.0% 13.0%
Emergency Loan $0 $0 $7,865,311 $0 $2,806,981 $0
Sales $112,479,576 $118,525,445 $84,716,157 $125,594,070 $121,737,580 $125,243,757
EBIT $10,313,749 $15,349,505 $3,440,256 ($1,154,245) $16,106,296 $16,890,207
Profits $2,756,776 $5,134,550 ($1,727,325) ($5,582,917) $6,526,457 $7,305,885
Cumulative Profit $6,945,284 $9,323,058 $2,461,183 ($1,394,410) $10,714,964 $11,494,392
SG&A / Sales 12.8% 12.2% 13.2% 24.4% 8.7% 9.5%
Contrib. Margin % 30.3% 31.7% 26.2% 31.2% 29.3% 29.1%

CAPSTONE ® COURIER Page 1

 Round: 1
Stock & Bonds C110188 Dec. 31, 2020
Stock Market Summary
MarketCap
Company Close Change Shares Book Value EPS Dividend Yield P/E
($M)
Andrews $35.81 $1.55 2,058,388 $74 $25.60 $1.34 $0.00 0.0% 26.7
Baldwin $40.43 $6.17 2,000,000 $81 $24.81 $2.57 $1.73 4.3% 15.7
Chester $22.77 ($11.48) 2,000,000 $46 $23.11 ($0.86) $0.00 0.0% -26.4
Digby $22.57 ($11.69) 2,399,957 $54 $23.36 ($2.33) $0.00 0.0% -9.7
Erie $38.89 $4.64 2,000,000 $78 $27.23 $3.26 $0.00 0.0% 11.9
Ferris $44.71 $10.46 2,029,194 $91 $27.72 $3.60 $0.00 0.0% 12.4

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
11.0S2021 $6,950,000 11.1% 99.28 B 11.0S2021 $6,950,000 11.1% 98.84 CCC
12.5S2023 $13,900,000 12.3% 101.69 B 12.5S2023 $13,900,000 12.4% 100.48 CCC
14.0S2025 $20,850,000 13.0% 107.97 B 14.0S2025 $20,850,000 13.2% 106.08 CCC
11.3S2030 $5,000,000 11.6% 97.15 B Erie
Baldwin 11.0S2021 $6,950,000 11.1% 99.46 B
11.0S2021 $5,623,149 11.1% 98.67 CC 12.5S2023 $13,900,000 12.2% 102.18 B
12.5S2023 $13,900,000 12.5% 100.00 CC 14.0S2025 $20,850,000 12.9% 108.74 B
14.0S2025 $20,850,000 13.3% 105.34 CC Ferris
Chester 11.0S2021 $6,950,000 11.0% 99.64 BB
11.0S2021 $1,924,283 11.1% 99.11 CCC 12.5S2023 $13,900,000 12.2% 102.67 BB
12.5S2023 $13,900,000 12.4% 101.20 CCC 14.0S2025 $20,850,000 12.8% 109.51 BB
14.0S2025 $20,850,000 13.1% 107.21 CCC

Next Year's Prime Rate7.50%

CAPSTONE ® COURIER Page 2
 Round: 1
Financial Summary C110188 Dec. 31, 2020
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $2,757 $5,135 ($1,727) ($5,583) $6,526 $7,306
Adjustment for non-cash items:
Depreciation $8,827 $7,597 $7,587 $9,000 $8,887 $7,587
Extraordinary gains/losses/writeoffs $228 $140 ($26) $0 $37 $0
Changes in current assets and liablilities
Accounts payable ($848) ($532) ($600) ($186) $419 $1,068
Inventory $8,617 $7,155 ($12,877) $8,617 ($141) ($6,033)
Accounts Receivable ($937) ($1,434) $1,344 ($2,015) ($1,698) ($1,987)
Net cash from operations $18,643 $18,060 ($6,299) $9,833 $14,029 $7,941

Cash flows from investing activities

Plant improvements(net) ($23,395) ($3,240) $0 ($21,200) ($20,270) $0
Cash flows from financing activities
Dividends paid $0 ($3,465) $0 $0 $0 $0
Sales of common stock $2,000 $0 $0 $13,700 $0 $1,000
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $5,000 $0 $0 $0 $0 $0
Early retirement of long term debt $0 ($1,320) ($5,000) $0 $0 $0
Retirement of current debt $0 $0 $0 $0 $0 $0
Cash from current debt borrowing $0 $20,343 $0 $20,342 $0 $0
Cash from emergency loan $0 $0 $7,865 $0 $2,807 $0

Net cash from financing activities $7,000 $15,558 $2,865 $34,042 $2,807 $1,000

Net change in cash position $2,248 $30,378 ($3,434) $22,675 ($3,434) $8,941
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $5,682 $33,811 $0 $26,109 $0 $12,374
Accounts Receivable $9,245 $9,742 $6,963 $10,323 $10,006 $10,294
Inventory $0 $1,463 $21,494 $0 $8,758 $14,651
Total Current Assets $14,927 $45,016 $28,457 $36,432 $18,764 $37,319

Plant and equipment $132,400 $113,960 $113,800 $135,000 $133,300 $113,800

Accumulated Depreciation ($42,193) ($42,597) ($45,520) ($46,933) ($46,087) ($45,520)
Total Fixed Assets $90,207 $71,363 $68,280 $88,067 $87,213 $68,280

Total Assets $105,133 $116,379 $96,737 $124,498 $105,977 $105,599

Accounts Payable $5,735 $6,051 $5,983 $6,398 $7,002 $7,651

Current Debt $0 $20,343 $7,865 $20,342 $2,807 $0
Long Term Debt $46,700 $40,373 $36,674 $41,700 $41,700 $41,700
Total Liabilities $52,435 $66,767 $50,523 $68,440 $51,509 $49,351

Common Stock $20,360 $18,360 $18,360 $32,060 $18,360 $19,360

Retained Earnings $32,339 $31,252 $27,855 $23,999 $36,109 $36,888
Total Equity $52,699 $49,612 $46,215 $56,059 $54,468 $56,248

Total Liabilities & Owners Equity $105,133 $116,379 $96,737 $124,498 $105,977 $105,599

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $112,480 $118,525 $84,716 $125,594 $121,738 $125,244
Variable Costs(Labor,Material,Carry) $78,391 $80,949 $62,495 $86,454 $86,101 $88,812
Depreciation $8,827 $7,597 $7,587 $9,000 $8,887 $7,587
SGA(R&D,Promo,Sales,Admin) $14,370 $14,470 $11,145 $30,609 $10,607 $11,905
Other(Fees,Writeoffs,TQM,Bonuses) $578 $160 $49 $685 $37 $50
EBIT $10,314 $15,350 $3,440 ($1,154) $16,106 $16,890
Interest(Short term,Long term) $5,986 $7,289 $6,098 $7,435 $5,861 $5,421
Taxes $1,515 $2,821 ($930) ($3,006) $3,586 $4,014
Profit Sharing $56 $105 $0 $0 $133 $149
Net Profit $2,757 $5,135 ($1,727) ($5,583) $6,526 $7,306

CAPSTONE ® COURIER Page 3

 Round: 1
Production Analysis C110188 Dec. 31, 2020

2nd
Shift Auto
Unit & mation Capacity
Primary Units Inven Revision Age Pfmn Size Material Labor Contr. Over- Next Next Plant
Name Segment Sold tory Date Dec.31 MTBF Coord Coord Price
Cost
Cost Marg. time Round Round Utiliz.
Able Trad 1,080 0 3/20/2020 2.4 17500 5.6 14.2 $28.00 $10.85 $7.85 32% 0% 6.0 1,300 69%
Acre Low 1,920 0 5/25/2015 5.6 14000 3.0 17.0 $20.75 $7.05 $7.56 28% 36% 7.0 1,600 134%
Adam High 426 0 8/24/2020 1.5 23000 8.9 11.2 $38.00 $15.71 $8.97 35% 0% 3.5 850 45%
Aft Pfmn 424 0 4/7/2020 2.1 25000 9.9 15.3 $33.00 $15.20 $8.97 26% 0% 3.5 550 63%
Agape Size 369 0 4/19/2020 2.1 19000 4.1 10.4 $33.00 $13.03 $8.97 32% 0% 3.5 550 56%

Baker Trad 1,328 0 6/13/2020 2.3 17200 5.5 15.3 $27.30 $10.17 $7.85 32% 0% 4.6 1,400 81%
Bead Low 1,569 4 5/25/2015 5.6 14000 3.0 17.0 $21.50 $7.05 $7.03 33% 11% 5.4 1,400 110%
Bid High 530 6 9/17/2020 1.5 23500 8.9 11.1 $37.60 $15.91 $8.97 35% 0% 3.4 900 55%
Bold Pfmn 436 38 7/23/2020 2.0 24000 9.4 14.5 $33.00 $14.85 $8.97 26% 0% 3.4 600 66%
Buddy Size 443 15 7/21/2020 2.0 18500 5.0 11.2 $32.15 $12.64 $8.97 31% 0% 3.4 600 66%

Cake Trad 743 436 1/29/2020 4.1 15500 5.5 14.5 $25.00 $10.05 $7.85 21% 0% 4.0 1,800 55%
Cedar Low 1,776 65 1/15/2020 5.6 13000 3.0 17.0 $20.00 $6.75 $7.46 27% 30% 5.0 1,400 129%
Cid High 281 165 8/10/2021 2.7 23000 8.0 12.0 $39.50 $14.84 $8.97 34% 0% 3.0 900 45%
Coat Pfmn 360 153 6/30/2017 3.5 25000 9.4 15.5 $33.00 $14.81 $8.97 23% 0% 3.0 600 73%
Cure Size 222 217 4/20/2021 3.6 19000 4.0 11.0 $34.50 $12.60 $8.97 29% 0% 3.0 600 63%

Daze Trad 1,377 0 3/16/2020 2.4 17500 5.7 14.3 $28.00 $10.85 $7.85 32% 0% 5.0 1,800 66%
Dell Low 1,841 0 5/25/2015 5.6 14000 3.0 17.0 $21.00 $7.05 $7.46 29% 30% 6.0 1,400 129%
Dixie High 446 0 4/14/2020 1.7 23000 8.4 11.6 $38.00 $15.25 $8.97 35% 0% 4.0 900 45%
Dot Pfmn 513 0 6/21/2020 2.0 25000 9.0 16.3 $33.00 $14.32 $8.97 27% 0% 4.0 600 73%
Dune Size 439 0 3/5/2020 2.2 19000 3.7 11.0 $33.00 $12.52 $8.97 34% 0% 4.0 600 63%

Eat Trad 1,603 170 3/2/2020 2.5 17500 5.5 14.4 $28.00 $10.70 $7.85 32% 0% 5.0 1,700 93%
Ebb Low 1,673 0 5/25/2015 5.6 14000 3.0 17.0 $19.00 $7.05 $7.21 23% 18% 5.0 1,650 117%
Echo High 488 47 6/4/2020 1.6 23000 8.5 11.3 $38.00 $15.46 $8.97 35% 0% 4.0 900 55%
Edge Pfmn 360 64 6/30/2017 3.5 25000 9.4 15.5 $33.00 $14.81 $8.97 25% 0% 4.0 600 58%
Egg Size 430 128 3/16/2020 2.2 19000 4.0 10.6 $34.00 $12.87 $8.97 32% 0% 4.0 600 83%

Fast Trad 1,520 451 5/21/2020 2.4 17500 6.0 14.0 $27.00 $11.16 $7.85 26% 0% 4.0 1,800 99%
Feat Low 1,716 6 5/25/2015 5.6 14000 3.0 17.0 $20.49 $7.05 $7.29 28% 21% 5.0 1,400 120%
Fist High 469 116 5/8/2020 1.7 23000 8.5 11.5 $39.49 $15.35 $8.97 36% 0% 3.0 900 61%
Foam Pfmn 467 56 6/6/2020 2.0 26000 10.0 15.0 $33.89 $15.66 $8.97 26% 0% 3.0 600 74%
Fume Size 434 74 7/9/2020 2.0 19000 4.0 10.0 $33.89 $13.27 $8.97 33% 0% 3.0 600 74%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C110188 Round: 1
Dec. 31, 2020

Traditional Statistics
Total Industry Unit Demand 8,067
Actual Industry Unit Sales |8,067
Segment % of Total Industry |31.4%

Next Year's Segment Growth Rate |9.2%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $19.50 - 29.50 23%
3. Ideal Position Pfmn 5.7 Size 14.3 21%
4. Reliability MTBF 14000-19000 9%

Top Products in Traditional Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Eat 19% 1,550 3/2/2020 5.5 14.4 $28.00 17500 2.47 $1,100 61% $1,100 52% 33
Fast 18% 1,471 5/21/2020 6.0 14.0 $27.00 17500 2.35 $1,200 65% $1,200 53% 38
Daze 16% 1,328 3/16/2020 YES 5.7 14.3 $28.00 17500 2.44 $2,500 86% $3,000 71% 48
Baker 16% 1,263 6/13/2020 YES 5.5 15.3 $27.30 17200 2.32 $1,300 67% $1,362 59% 36
Able 13% 1,035 3/20/2020 YES 5.6 14.2 $28.00 17500 2.44 $700 49% $500 54% 31
Cake 8% 675 1/29/2020 5.5 14.5 $25.00 15500 4.10 $950 57% $1,000 50% 11
Dell 1% 115 5/25/2015 YES 3.0 17.0 $21.00 14000 5.60 $2,500 83% $3,000 71% 1
Acre 1% 109 5/25/2015 YES 3.0 17.0 $20.75 14000 5.60 $1,800 77% $2,500 54% 1
Feat 1% 109 5/25/2015 3.0 17.0 $20.49 14000 5.60 $1,200 62% $900 53% 1
Buddy 1% 105 7/21/2020 5.0 11.2 $32.15 18500 2.02 $900 49% $708 59% 5
Bead 1% 102 5/25/2015 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 59% 1
Cedar 1% 87 1/15/2020 3.0 17.0 $20.00 13000 5.60 $850 51% $900 50% 1

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C110188 Round: 1
Dec. 31, 2020

Low End Statistics

Total Industry Unit Demand 10,009
Actual Industry Unit Sales |10,009
Segment % of Total Industry |39.0%

Next Year's Segment Growth Rate |11.7%

Low End Customer Buying Criteria
Expectations Importance
1. Price $14.50 - 24.50 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 2.2 Size 17.8 16%
4. Reliability MTBF 12000-17000 7%

Top Products in Low End Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Acre 18% 1,811 5/25/2015 YES 3.0 17.0 $20.75 14000 5.60 $1,800 77% $2,500 55% 23
Dell 17% 1,726 5/25/2015 YES 3.0 17.0 $21.00 14000 5.60 $2,500 83% $3,000 59% 24
Cedar 17% 1,689 1/15/2020 3.0 17.0 $20.00 13000 5.60 $850 51% $900 34% 17
Feat 16% 1,607 5/25/2015 3.0 17.0 $20.49 14000 5.60 $1,200 62% $900 34% 18
Ebb 16% 1,587 5/25/2015 YES 3.0 17.0 $19.00 14000 5.60 $1,000 56% $1,000 35% 22
Bead 15% 1,468 5/25/2015 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 40% 16
Cake 1% 61 1/29/2020 5.5 14.5 $25.00 15500 4.10 $950 57% $1,000 34% 1
Baker 1% 53 6/13/2020 YES 5.5 15.3 $27.30 17200 2.32 $1,300 67% $1,362 40% 1
Eat 0% 6 3/2/2020 5.5 14.4 $28.00 17500 2.47 $1,100 61% $1,100 35% 0
Daze 0% 1 3/16/2020 YES 5.7 14.3 $28.00 17500 2.44 $2,500 86% $3,000 59% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C110188 Round: 1
Dec. 31, 2020

High End Statistics

Total Industry Unit Demand 2,967
Actual Industry Unit Sales |2,967
Segment % of Total Industry |11.6%

Next Year's Segment Growth Rate |16.2%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 9.8 Size 10.2 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $29.50 - 39.50 9%

Top Products in High End Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Bid 18% 530 9/17/2020 8.9 11.1 $37.60 23500 1.49 $1,250 62% $1,362 49% 26
Echo 16% 488 6/4/2020 8.5 11.3 $38.00 23000 1.63 $900 51% $900 42% 17
Fist 16% 469 5/8/2020 8.5 11.5 $39.49 23000 1.67 $900 51% $800 41% 15
Dixie 15% 446 4/14/2020 YES 8.4 11.6 $38.00 23000 1.70 $2,500 81% $3,000 67% 22
Adam 14% 426 8/24/2020 YES 8.9 11.2 $38.00 23000 1.52 $2,000 77% $1,000 43% 25
Cid 9% 281 8/10/2021 8.0 12.0 $39.50 23000 2.70 $850 49% $800 39% 7
Bold 3% 103 7/23/2020 9.4 14.5 $33.00 24000 1.97 $900 49% $654 49% 5
Foam 2% 45 6/6/2020 10.0 15.0 $33.89 26000 2.03 $700 42% $700 41% 1
Aft 1% 30 4/7/2020 YES 9.9 15.3 $33.00 25000 2.11 $900 49% $700 43% 0
Dot 1% 25 6/21/2020 YES 9.0 16.3 $33.00 25000 2.01 $2,500 79% $3,000 67% 0
Edge 1% 23 6/30/2017 9.4 15.5 $33.00 25000 3.50 $700 42% $700 42% 0
Coat 1% 23 6/30/2017 9.4 15.5 $33.00 25000 3.50 $700 42% $700 39% 0

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C110188 Round: 1
Dec. 31, 2020

Performance Statistics
Total Industry Unit Demand 2,294
Actual Industry Unit Sales |2,294
Segment % of Total Industry |8.9%

Next Year's Segment Growth Rate |19.8%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 10.4 Size 15.3 29%
3. Price $24.50 - 34.50 19%
4. Age Ideal Age = 1.0 9%

Top Products in Performance Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Dot 21% 481 6/21/2020 YES 9.0 16.3 $33.00 25000 2.01 $2,500 79% $3,000 57% 24
Foam 18% 422 6/6/2020 10.0 15.0 $33.89 26000 2.03 $700 42% $700 29% 23
Aft 17% 394 4/7/2020 YES 9.9 15.3 $33.00 25000 2.11 $900 49% $700 29% 20
Edge 15% 337 6/30/2017 9.4 15.5 $33.00 25000 3.50 $700 42% $700 29% 15
Coat 15% 336 6/30/2017 9.4 15.5 $33.00 25000 3.50 $700 42% $700 29% 15
Bold 14% 318 7/23/2020 9.4 14.5 $33.00 24000 1.97 $900 49% $654 29% 13
Fast 0% 2 5/21/2020 6.0 14.0 $27.00 17500 2.35 $1,200 65% $1,200 29% 0
Daze 0% 2 3/16/2020 YES 5.7 14.3 $28.00 17500 2.44 $2,500 86% $3,000 57% 0
Baker 0% 1 6/13/2020 YES 5.5 15.3 $27.30 17200 2.32 $1,300 67% $1,362 29% 0
Eat 0% 1 3/2/2020 5.5 14.4 $28.00 17500 2.47 $1,100 61% $1,100 29% 0

CAPSTONE ® COURIER Page 8

Size Segment Analysis C110188 Round: 1
Dec. 31, 2020

Size Statistics
Total Industry Unit Demand 2,347
Actual Industry Unit Sales |2,347
Segment % of Total Industry |9.1%

Next Year's Segment Growth Rate |18.3%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 4.7 Size 9.6 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $24.50 - 34.50 9%

Top Products in Size Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Fume 18% 433 7/9/2020 4.0 10.0 $33.89 19000 2.04 $800 46% $700 35% 25
Dune 18% 431 3/5/2020 YES 3.7 11.0 $33.00 19000 2.21 $2,500 79% $3,000 62% 21
Egg 18% 429 3/16/2020 4.0 10.6 $34.00 19000 2.20 $700 42% $700 35% 17
Agape 16% 369 4/19/2020 YES 4.1 10.4 $33.00 19000 2.15 $900 49% $700 33% 21
Buddy 14% 320 7/21/2020 5.0 11.2 $32.15 18500 2.02 $900 49% $708 36% 14
Cure 9% 221 4/20/2021 4.0 11.0 $34.50 19000 3.60 $750 44% $700 35% 6
Eat 1% 34 3/2/2020 5.5 14.4 $28.00 17500 2.47 $1,100 61% $1,100 35% 1
Fast 1% 33 5/21/2020 6.0 14.0 $27.00 17500 2.35 $1,200 65% $1,200 35% 1
Able 1% 31 3/20/2020 YES 5.6 14.2 $28.00 17500 2.44 $700 49% $500 33% 1
Daze 1% 31 3/16/2020 YES 5.7 14.3 $28.00 17500 2.44 $2,500 86% $3,000 62% 1
Cake 0% 7 1/29/2020 5.5 14.5 $25.00 15500 4.10 $950 57% $1,000 35% 0
Baker 0% 7 6/13/2020 YES 5.5 15.3 $27.30 17200 2.32 $1,300 67% $1,362 36% 0

CAPSTONE ® COURIER Page 9

 Round: 1
Market Share C110188 Dec. 31, 2020

Actual Market Share in Units Potential Market Share in Units

Trad Low High Pfmn Size Total Trad Low High Pfmn Size Total
Industry Unit Sales 8,067 10,009 2,967 2,294 2,347 25,684 Units Demanded 8,067 10,009 2,967 2,294 2,347 25,684
% of Market 31.4% 39.0% 11.6% 8.9% 9.1% 100.0% % of Market 31.4% 39.0% 11.6% 8.9% 9.1% 100.0%

Able 12.8% 0.4% 1.3% 4.2% Able 14.6% 0.4% 1.5% 4.8%
Acre 1.4% 18.1% 7.5% Acre 1.4% 19.0% 7.8%
Adam 14.4% 1.7% Adam 16.2% 1.9%
Aft 1.0% 17.2% 1.7% Aft 0.9% 17.1% 1.6%
Agape 15.7% 1.4% Agape 18.3% 1.7%
Total 14.2% 18.1% 15.8% 17.2% 17.1% 16.4% Total 16.0% 19.0% 17.6% 17.1% 19.9% 17.8%

Baker 15.7% 0.5% 0.1% 0.3% 5.2% Baker 14.6% 0.3% 0.3% 4.7%
Bead 1.3% 14.7% 6.1% Bead 1.2% 13.3% 5.5%
Bid 17.8% 2.1% Bid 15.4% 1.8%
Bold 0.2% 3.5% 13.9% 1.7% Bold 2.9% 13.3% 1.6%
Buddy 1.3% 0.6% 13.6% 1.7% Buddy 1.0% 0.5% 12.2% 1.5%
Total 18.4% 15.2% 22.1% 13.9% 13.9% 16.8% Total 17.0% 13.5% 18.9% 13.3% 12.5% 15.1%

Cake 8.4% 0.6% 0.3% 2.9% Cake 7.4% 0.3% 0.3% 2.4%
Cedar 1.1% 16.9% 6.9% Cedar 1.0% 14.3% 5.9%
Cid 9.5% 1.1% Cid 8.3% 1.0%
Coat 0.8% 14.7% 1.4% Coat 0.7% 14.0% 1.3%
Cure 9.4% 0.9% Cure 8.6% 0.8%
Total 9.5% 17.5% 10.3% 14.7% 9.7% 13.2% Total 8.3% 14.6% 9.0% 14.0% 8.9% 11.4%

Daze 16.5% 0.5% 1.3% 5.4% Daze 22.8% 0.7% 1.8% 7.4%
Dell 1.4% 17.3% 7.2% Dell 1.6% 19.7% 8.2%
Dixie 15.0% 1.7% Dixie 22.4% 2.6%
Dot 0.8% 21.0% 2.0% Dot 0.8% 23.9% 2.3%
Dune 18.4% 1.7% Dune 21.7% 2.0%
Total 18.1% 17.3% 16.4% 21.0% 19.7% 18.0% Total 24.7% 19.7% 23.9% 23.9% 23.5% 22.5%

Eat 19.2% 0.4% 1.5% 6.2% Eat 16.3% 0.3% 1.3% 5.3%
Ebb 1.1% 15.9% 6.5% Ebb 1.2% 18.4% 7.6%
Echo 16.5% 1.9% Echo 14.2% 1.6%
Edge 0.8% 14.7% 1.4% Edge 0.7% 14.0% 1.3%
Egg 18.3% 1.7% Egg 16.4% 1.5%
Total 20.3% 15.9% 17.6% 14.7% 19.8% 17.7% Total 17.5% 18.5% 15.2% 14.1% 17.7% 17.3%

Fast 18.2% 0.5% 1.4% 5.9% Fast 15.2% 0.4% 1.2% 5.0%
Feat 1.4% 16.1% 6.7% Feat 1.3% 14.7% 6.1%
Fist 15.8% 1.8% Fist 13.6% 1.6%
Foam 1.5% 18.4% 1.8% Foam 1.3% 17.4% 1.7%
Fume 18.4% 1.7% Fume 16.2% 1.5%
Total 19.6% 16.1% 17.8% 18.5% 19.9% 17.9% Total 16.5% 14.7% 15.3% 17.5% 17.5% 15.8%

CAPSTONE ® COURIER Page 10

 Round: 1
Perceptual Map C110188 Dec. 31, 2020

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 5.6 14.2 3/20/2020 Baker 5.5 15.3 6/13/2020 Cake 5.5 14.5 1/29/2020
Acre 3.0 17.0 5/25/2015 Bead 3.0 17.0 5/25/2015 Cedar 3.0 17.0 1/15/2020
Adam 8.9 11.2 8/24/2020 Bid 8.9 11.1 9/17/2020 Cid 8.0 12.0 8/10/2021
Aft 9.9 15.3 4/7/2020 Bold 9.4 14.5 7/23/2020 Coat 9.4 15.5 6/30/2017
Agape 4.1 10.4 4/19/2020 Buddy 5.0 11.2 7/21/2020 Cure 4.0 11.0 4/20/2021

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 5.7 14.3 3/16/2020 Eat 5.5 14.4 3/2/2020 Fast 6.0 14.0 5/21/2020
Dell 3.0 17.0 5/25/2015 Ebb 3.0 17.0 5/25/2015 Feat 3.0 17.0 5/25/2015
Dixie 8.4 11.6 4/14/2020 Echo 8.5 11.3 6/4/2020 Fist 8.5 11.5 5/8/2020
Dot 9.0 16.3 6/21/2020 Edge 9.4 15.5 6/30/2017 Foam 10.0 15.0 6/6/2020
Dune 3.7 11.0 3/5/2020 Egg 4.0 10.6 3/16/2020 Fume 4.0 10.0 7/9/2020

CAPSTONE ® COURIER Page 11

 Round: 1
HR/TQM Report C110188 Dec. 31, 2020
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 627 667 667 701 767 827
Complement 627 667 667 701 767 827
1st Shift Complement 555 645 607 640 731 784
2nd Shift Complement 72 22 60 61 36 43
Overtime Percent 0.1% 0.0% 0.1% 0.0% 0.0% 0.0%
Turnover Rate 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
New Employees 63 67 67 71 144 210
Separated Employees 73 33 33 0 0 0
Recruiting Spend $0 $0 $0 $0 $0 $0
Training Hours 0 0 0 0 0 0
Productivity Index 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Recruiting Cost $63 $67 $67 $71 $144 $210
Separation Cost $365 $165 $165 $0 $0 $0
Training Cost $0 $0 $0 $0 $0 $0
Total HR Admin Cost $428 $232 $232 $71 $144 $210
Labor Contract Next Year
Wages $22.05 $22.05 $22.05 $22.05 $22.05 $22.05
Benefits 2,500 2,500 2,500 2,500 2,500 2,500
Profit Sharing 2.0% 2.0% 2.0% 2.0% 2.0% 2.0%
Annual Raise 5.0% 5.0% 5.0% 5.0% 5.0% 5.0%
Starting Negotiation Position
Wages
Benefits
Profit Sharing
Annual Raise
Ceiling Negotiation Position
Wages
Benefits
Profit Sharing
Annual Raise
Adjusted Labor Demands
Wages
Benefits
Profit Sharing
Annual Raise
Strike Days

TQM SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Process Mgt Budgets Last Year
CPI Systems $0 $0 $0 $0 $0 $0
VendorJIT $0 $0 $0 $0 $0 $0
Quality Initiative Training $0 $0 $0 $0 $0 $0
Channel Support Systems $0 $0 $0 $0 $0 $0
Concurrent Engineering $0 $0 $0 $0 $0 $0
UNEP Green Programs $0 $0 $0 $0 $0 $0

TQM Budgets Last Year

Benchmarking $0 $0 $0 $0 $0 $0
Quality Function Deployment Effort $0 $0 $0 $0 $0 $0
CCE/6 Sigma Training $0 $0 $0 $0 $0 $0
GEMI TQEM Sustainability Initiatives $0 $0 $0 $0 $0 $0
Total Expenditures $0 $0 $0 $0 $0 $0

Cumulative Impacts
Material Cost Reduction 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Labor Cost Reduction 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Reduction R&D Cycle Time 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Reduction Admin Costs 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Demand Increase 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

CAPSTONE ® COURIER Page 12

 Annual Report
Round: 1
Annual Report Chester C110188
Dec. 31, 2020
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2020 2019
assets for that year. Cash: Your end-of-year cash Common
position. Accounts Receivable: Reflects the lag between
Size
delivery and payment of your products. Inventories: The Cash $0 0.0% $3,434
current value of your inventory across all products. A zero
Account Receivable $6,963 7.2% $8,307
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $21,494 22.2% $8,617
Equipment: The current value of your plant. Accum Total Current Assets $28,457 29.4% $20,358
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $113,800 118.0% $113,800
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($45,520) -47.1% ($37,933)
of operations. It includes emergency loans used to keep Total Fixed Assets $68,280 70.6% $75,867
your company solvent should you run out of cash during Total Assets $96,737 100.0% $96,225
the year. Long Term Debt: The companys long term debt
is in the form of bonds, and this represents the total value LIABILITIES & OWNERS
of your bonds. Common Stock: The amount of capital
EQUITY
invested by shareholders in the company. Retained
Earnings: The profits that the company chose to keep Accounts Payable $5,983 6.2% $6,583
instead of paying to shareholders as dividends.
Current Debt $7,865 8.1% $0
Long Term Debt $36,674 37.9% $41,700
Total Liabilities $50,522 52.2% $48,283

Common Stock $18,360 19.0% $18,360

Retained Earnings $27,855 28.8% $29,582
Total Equity $46,215 47.8% $47,942
Total Liab. & O. Equity $96,737 100.0% $96,225

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2020 2019
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) ($1,727) $4,189
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $7,587 $7,587
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs ($26) $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable ($600) $3,583
are bad and you find yourself carrying an abundance of excess inventory,
Inventory ($12,877) ($8,617)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable $1,344 ($307)
flow. Too much unexpected inventory could outstrip your inflows, exhaust
your starting cash and force you to beg for money to keep your company Net cash from operation ($6,299) $6,434
afloat. Cash Flows from Investing Activities
Plant Improvements $0 $0
Cash Flows from Financing Activities
Dividends paid $0 ($4,000)
Sales of common stock $0 $0
Purchase of common stock $0 $0
Cash from long term debt $0 $0
Retirement of long term debt ($5,000) $0
Change in current debt(net) $7,865 $0
Net cash from financing activities $2,865 ($4,000)
Net change in cash position ($3,434) $2,434
Closing cash position $0 $3,434

Annual Report Page 13

 Round: 1
Annual Report Chester C110188
Dec. 31, 2020
2020 Income Statement
2020 Common
(Product Name) Cake Cedar Cid Coat Cure
Total
Size
Sales $18,579 $35,523 $11,095 $11,876 $7,643 $0 $0 $0 $84,716 100.0%
Variable Costs:
Direct Labor $5,790 $13,238 $2,509 $3,206 $1,974 $0 $0 $0 $26,718 31.5%
Direct Material $7,910 $12,554 $4,309 $5,522 $2,904 $0 $0 $0 $33,198 39.2%
Inventory Carry $964 $113 $482 $446 $574 $0 $0 $0 $2,579 3.0%
Total Variable $14,665 $25,905 $7,299 $9,174 $5,452 $0 $0 $0 $62,495 73.8%
Contribution Margin $3,915 $9,618 $3,795 $2,702 $2,191 $0 $0 $0 $22,221 26.2%
Period Costs:
Depreciation $2,640 $2,427 $1,080 $720 $720 $0 $0 $0 $7,587 9.0%
SG&A: R&D $80 $40 $1,000 $0 $1,000 $0 $0 $0 $2,120 2.5%
Promotions $950 $850 $850 $700 $750 $0 $0 $0 $4,100 4.8%
Sales $1,000 $900 $800 $700 $700 $0 $0 $0 $4,100 4.8%
Admin $181 $346 $108 $116 $74 $0 $0 $0 $825 1.0%
Total Period $4,851 $4,563 $3,838 $2,236 $3,244 $0 $0 $0 $18,731 22.1%
Net Margin ($936) $5,055 ($43) $466 ($1,053) $0 $0 $0 $3,490 4.1%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $49 0.1%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $3,440 4.1%
straight-line. 15-year depreciation of plant value. R&D Costs: R&D department expenditures for each Short Term Interest $1,230 1.5%
product. Admin: Administration overhead is estimated at 1.5% of sales. Promotions: The promotion budget Long Term Interest $4,868 5.7%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes ($930) -1.1%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $0 0.0%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit ($1,727) -2.0%
include the loss you might experience when you sell capacity or liquidate inventory as the result of
eliminating a production line. If the amount appears as a negative amount, then you actually made money
on the liquidation of capacity or inventory. EBIT: Earnings Before Interest and Taxes. Short Term Interest:
Interest expense based on last years current debt, including short term debt, long term notes that have
become due, and emergency loans, Long Term Interest: Interest paid on outstanding bonds. Taxes:
Income tax based upon a 35% tax rate. Profit Sharing: Profits shared with employees under the labor
contract. Net Profit: EBIT minus interest, taxes, and profit sharing.

Annual Report Page 14