Round: 2

Dec. 31, C110186

2021
Andrews Baldwin Chester
Rishabh Chourdia Shradha .
rohan chowdhary Samarth Jaiswal
Rishi Juthani Shail Patel
Rishab Mahnot Shriya Salian
Robin Sawardekar Ankit Verma

Digby Erie Ferris

Siddharth Bagaria Sumaiya Begam Azam Veena Ahirwar
SHREYA BARMAN Simran Pasricha Twinkle Choudhary
Shubham Gajbhiye Soumik Roy Vaibhav Gupta
Shuvang Jandiyal SRIDHAR SIRUGUDI Tanuj Jain
Shweta Shrivastava Sathvik Sriram Triptabala Kharat
Harshit Oswin

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS -2.8% 3.3% -5.1% 2.1% -0.6% -2.4%
Asset Turnover 0.96 0.92 0.84 1.23 0.88 0.96
ROA -2.7% 3.0% -4.3% 2.5% -0.5% -2.3%
Leverage 2.5 2.4 3.4 2.0 2.4 3.2
ROE -6.8% 7.3% -14.5% 5.0% -1.2% -7.4%
Emergency Loan $32,853,957 $0 $8,510,225 $0 $4,357,192 $0
Sales $140,698,573 $111,396,692 $119,240,137 $135,796,262 $118,974,503 $125,358,592
EBIT $4,818,596 $13,673,811 $2,879,091 $10,671,264 $8,344,536 $5,771,454
Profits ($3,988,808) $3,648,148 ($6,093,450) $2,819,469 ($672,112) ($3,039,733)
Cumulative Profit $3,283,415 $14,741,091 ($8,105,144) $4,473,327 $6,812,216 ($4,982,118)
SG&A / Sales 11.4% 15.3% 13.0% 11.8% 11.5% 11.7%
Contrib. Margin % 22.0% 34.5% 25.9% 26.6% 28.3% 23.0%

CAPSTONE ® COURIER Page 1

 Round: 2
Stock & Bonds C110186 Dec. 31, 2021
Stock Market Summary
MarketCap
Company Close Change Shares Book Value EPS Dividend Yield P/E
($M)
Andrews $8.76 ($27.88) 2,324,355 $20 $25.18 ($1.72) $0.00 0.0% -5.1
Baldwin $40.91 ($3.06) 2,000,000 $82 $25.07 $1.82 $2.54 6.2% 22.4
Chester $1.28 ($7.67) 2,218,955 $3 $18.95 ($2.75) $0.00 0.0% -0.5
Digby $23.15 $6.91 2,546,086 $59 $22.19 $1.11 $0.00 0.0% 20.9
Erie $25.26 ($6.78) 2,150,002 $54 $25.84 ($0.31) $0.00 0.0% -81.1
Ferris $7.12 $1.92 2,403,398 $17 $17.04 ($1.26) $0.00 0.0% -5.6

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
12.5S2023 $13,900,000 12.6% 98.83 CC 12.5S2023 $13,900,000 12.4% 100.51 B
14.0S2025 $20,850,000 13.7% 102.37 CC 14.0S2025 $20,850,000 13.3% 105.44 B
11.4S2031 $3,000,000 12.6% 90.31 CC 12.5S2031 $11,000,000 12.3% 101.68 B
Baldwin Erie
12.5S2023 $13,900,000 12.6% 99.00 CC 12.5S2023 $13,900,000 12.6% 98.83 CC
14.0S2025 $20,850,000 13.6% 102.67 CC 14.0S2025 $20,850,000 13.7% 102.37 CC
12.5S2031 $420,825 12.9% 96.76 CC 11.3S2030 $10,000,000 12.5% 90.32 CC
Chester 12.4S2031 $17,000,000 13.0% 95.69 CC
12.5S2023 $13,900,000 12.8% 97.69 C Ferris
14.0S2025 $20,850,000 14.0% 100.29 C 12.5S2023 $13,900,000 12.8% 97.85 C
11.3S2030 $10,000,000 13.0% 87.09 C 14.0S2025 $20,850,000 13.9% 100.58 C
13.0S2031 $32,423,000 13.6% 95.29 C 13.1S2031 $19,874,000 13.6% 96.32 C

Next Year's Prime Rate8.00%

CAPSTONE ® COURIER Page 2
 Round: 2
Financial Summary C110186 Dec. 31, 2021
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) ($3,989) $3,648 ($6,093) $2,819 ($672) ($3,040)
Adjustment for non-cash items:
Depreciation $9,836 $7,647 $10,885 $8,547 $10,667 $7,580
Extraordinary gains/losses/writeoffs ($93) $10 $0 $0 $0 ($330)
Changes in current assets and liablilities
Accounts payable $3,217 ($306) ($2,274) ($1,216) ($613) ($1,485)
Inventory ($25,674) ($4,742) ($1,207) $18,490 ($2,865) $5,126
Accounts Receivable ($2,976) $844 $436 ($2,048) ($118) ($2,218)
Net cash from operations ($19,678) $7,101 $1,746 $26,592 $6,399 $5,633

Cash flows from investing activities

Plant improvements(net) ($26,171) ($4,130) ($19,280) ($11,600) ($19,600) ($2,210)
Cash flows from financing activities
Dividends paid $0 ($5,083) $0 $0 $0 $0
Sales of common stock $6,000 $0 $0 $6,500 $2,000 $2,083
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $3,000 $421 $32,423 $11,000 $17,000 $19,874
Early retirement of long term debt $0 $0 $0 $0 $0 $0
Retirement of current debt ($2,500) ($20,343) ($23,399) ($18,003) ($10,156) ($25,526)
Cash from current debt borrowing $2,000 $23,285 $0 $0 $0 $20,298
Cash from emergency loan $32,854 $0 $8,510 $0 $4,357 $0

Net cash from financing activities $41,354 ($1,720) $17,534 ($503) $13,201 $16,729

Net change in cash position ($4,496) $1,251 $0 $14,490 $0 $20,152

Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $0 $29,307 $0 $14,490 $0 $20,152
Accounts Receivable $17,346 $9,156 $9,801 $7,441 $9,779 $10,303
Inventory $34,779 $13,808 $27,102 $14,827 $23,815 $36,286
Total Current Assets $52,125 $52,271 $36,902 $36,758 $33,594 $66,742

Plant and equipment $147,540 $114,700 $163,280 $128,200 $160,000 $113,700

Accumulated Depreciation ($53,592) ($46,247) ($58,419) ($54,253) ($57,960) ($50,460)
Total Fixed Assets $93,948 $68,453 $104,861 $73,947 $102,040 $63,240

Total Assets $146,073 $120,724 $141,764 $110,704 $135,634 $129,982

Accounts Payable $8,987 $6,254 $7,092 $6,522 $7,011 $7,156

Current Debt $40,799 $29,168 $15,460 $1,924 $11,307 $27,248
Long Term Debt $37,750 $35,171 $77,173 $45,750 $61,750 $54,624
Total Liabilities $87,536 $70,593 $99,725 $54,197 $80,068 $89,027

Common Stock $29,860 $18,360 $25,860 $29,860 $23,360 $20,543

Retained Earnings $28,677 $31,772 $16,179 $26,648 $32,206 $20,411
Total Equity $58,537 $50,132 $42,039 $56,508 $55,566 $40,954

Total Liabilities & Owners Equity $146,073 $120,724 $141,764 $110,704 $135,634 $129,982

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $140,699 $111,397 $119,240 $135,796 $118,975 $125,359
Variable Costs(Labor,Material,Carry) $109,717 $73,006 $88,330 $99,625 $85,293 $96,542
Depreciation $9,836 $7,647 $10,885 $8,547 $10,667 $7,580
SGA(R&D,Promo,Sales,Admin) $15,970 $17,039 $15,525 $16,078 $13,720 $14,697
Other(Fees,Writeoffs,TQM,Bonuses) $357 $31 $1,621 $875 $950 $768
EBIT $4,819 $13,674 $2,879 $10,671 $8,345 $5,771
Interest(Short term,Long term) $10,955 $7,947 $12,254 $6,245 $9,379 $10,448
Taxes ($2,148) $2,004 ($3,281) $1,549 ($362) ($1,637)
Profit Sharing $0 $74 $0 $58 $0 $0
Net Profit ($3,989) $3,648 ($6,093) $2,819 ($672) ($3,040)

CAPSTONE ® COURIER Page 3

 Round: 2
Production Analysis C110186 Dec. 31, 2021

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 1,969 978 4/29/2021 2.1 17500 6.0 13.8 $26.00 $10.38 $9.48 19% 50% 5.0 1,800 149%
Acre Low 2,414 371 5/25/2015 6.6 14000 3.0 17.0 $17.80 $6.38 $8.50 13% 81% 6.0 2,000 180%
Adam High 569 128 6/20/2021 2.1 23000 9.8 10.2 $38.80 $15.54 $8.19 38% 0% 4.0 720 94%
Aft Pfmn 202 98 7/6/2021 1.7 22500 11.0 15.0 $30.00 $14.24 $9.36 18% 0% 3.0 450 49%
Agape Size 532 199 6/10/2021 1.7 20000 4.7 9.4 $34.60 $13.17 $8.54 34% 10% 5.5 600 109%

Baker Trad 957 236 12/5/2021 1.8 17000 6.5 13.5 $29.00 $10.60 $7.05 39% 0% 5.0 1,300 84%
Bead Low 1,429 174 5/25/2015 6.6 14000 3.0 17.0 $21.00 $6.38 $6.06 38% 7% 7.0 1,400 106%
Bid High 873 112 12/18/2021 1.2 23500 10.4 9.6 $39.00 $16.26 $11.63 30% 100% 3.0 600 198%
Bold High 355 103 7/27/2021 1.7 22000 8.8 13.5 $34.00 $13.29 $9.40 30% 0% 3.0 600 66%
Buddy Size 221 97 9/18/2021 1.6 16000 6.2 11.4 $34.00 $11.26 $9.40 33% 0% 3.0 650 41%

Cake Trad 1,743 227 5/14/2021 2.0 14250 5.7 14.3 $23.50 $9.02 $7.05 23% 0% 5.0 1,850 45%
Cedar Low 1,673 866 10/6/2020 3.9 12000 2.1 17.7 $17.50 $5.03 $5.83 31% 48% 6.7 1,975 146%
Cid High 409 135 4/19/2018 3.7 23000 8.0 12.0 $31.00 $13.83 $9.41 21% 0% 3.0 900 61%
Coat Pfmn 584 109 8/12/2021 2.4 27000 10.4 15.3 $32.50 $15.14 $10.04 22% 17% 3.0 600 116%
Cure Size 525 355 5/22/2021 1.8 18000 4.7 9.6 $33.00 $12.44 $7.89 33% 33% 5.0 900 132%

Daze Trad 1,519 0 3/31/2021 2.0 17500 6.4 13.5 $27.00 $10.71 $8.22 29% 0% 4.0 1,800 66%
Dell Low 2,027 96 5/25/2015 6.6 14000 3.0 17.0 $18.00 $6.38 $6.46 23% 0% 5.5 1,600 99%
Dixie High 364 518 8/10/2021 2.0 23000 10.0 10.0 $39.50 $15.73 $9.40 28% 0% 3.0 900 55%
Dot Pfmn 668 0 8/6/2021 1.7 27000 11.4 14.5 $33.00 $15.97 $9.40 24% 0% 4.5 700 99%
Dune Size 662 40 8/11/2021 1.6 19000 5.4 8.7 $33.00 $13.48 $9.40 31% 0% 3.0 600 83%

Eat Trad 1,303 282 7/15/2021 2.0 17500 6.4 13.6 $28.00 $10.66 $8.22 31% 0% 5.0 2,000 88%
Ebb Low 1,999 618 5/25/2015 6.6 14000 3.0 17.0 $18.00 $6.38 $5.87 22% 0% 6.0 2,100 80%
Echo High 635 111 9/19/2021 1.4 23000 10.0 10.7 $39.00 $15.40 $9.40 36% 0% 5.0 900 83%
Edge Pfmn 485 21 5/19/2020 3.1 25000 10.0 15.0 $34.00 $14.38 $9.40 29% 0% 3.0 600 74%
Egg Size 163 317 7/30/2021 2.5 19000 4.5 10.0 $32.50 $12.44 $9.40 17% 0% 3.0 600 41%

Fast Trad 1,346 157 12/6/2020 3.1 18000 7.0 14.3 $26.00 $10.80 $8.22 25% 0% 4.0 1,500 53%
Feat Low 1,552 725 1/6/2020 6.6 14400 3.0 17.0 $19.32 $6.50 $8.35 17% 64% 5.0 1,650 163%
Fist High 469 82 8/6/2021 2.0 23000 10.0 10.2 $39.00 $15.63 $9.39 36% 0% 3.0 900 42%
Foam Pfmn 664 457 8/22/2021 1.7 25000 11.4 14.6 $33.00 $15.34 $9.39 17% 0% 3.0 600 99%
Fume Size 651 388 8/22/2021 1.6 19000 5.4 8.6 $31.00 $13.54 $9.39 21% 0% 3.0 600 99%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C110186 Round: 2
Dec. 31, 2021

Traditional Statistics
Total Industry Unit Demand 8,809
Actual Industry Unit Sales |8,809
Segment % of Total Industry |30.4%

Next Year's Segment Growth Rate |9.2%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $19.00 - 29.00 23%
3. Ideal Position Pfmn 6.4 Size 13.6 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
Able 22% 1,937 4/29/2021 6.0 13.8 $26.00 17500 2.06 $1,600 79% $1,600 50% 48
Cake 19% 1,666 5/14/2021 5.7 14.3 $23.50 14250 2.00 $950 62% $1,500 62% 40
Daze 17% 1,461 3/31/2021 YES 6.4 13.5 $27.00 17500 1.99 $1,200 71% $1,500 49% 39
Fast 15% 1,319 12/6/2020 7.0 14.3 $26.00 18000 3.08 $1,200 71% $1,300 45% 21
Eat 15% 1,290 7/15/2021 6.4 13.6 $28.00 17500 1.95 $1,000 59% $1,200 45% 35
Baker 11% 956 12/5/2021 6.5 13.5 $29.00 17000 1.76 $1,300 76% $1,418 53% 37
Cid 2% 164 4/19/2018 8.0 12.0 $31.00 23000 3.70 $600 41% $600 62% 3
Egg 0% 5 7/30/2021 4.5 10.0 $32.50 19000 2.51 $850 45% $850 45% 0
Coat 0% 4 8/12/2021 10.4 15.3 $32.50 27000 2.44 $1,000 50% $900 62% 0
Feat 0% 1 1/6/2020 3.0 17.0 $19.32 14400 6.60 $980 58% $1,020 45% 0
Acre 0% 1 5/25/2015 3.0 17.0 $17.80 14000 6.60 $1,500 72% $1,500 50% 0
Bead 0% 1 5/25/2015 3.0 17.0 $21.00 14000 6.60 $1,300 74% $1,418 53% 0

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C110186 Round: 2
Dec. 31, 2021

Low End Statistics

Total Industry Unit Demand 11,180
Actual Industry Unit Sales |11,180
Segment % of Total Industry |38.6%

Next Year's Segment Growth Rate |11.7%

Low End Customer Buying Criteria
Expectations Importance
1. Price $14.00 - 24.00 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 2.7 Size 17.3 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 22% 2,412 5/25/2015 3.0 17.0 $17.80 14000 6.60 $1,500 72% $1,500 43% 38
Dell 18% 2,026 5/25/2015 3.0 17.0 $18.00 14000 6.60 $900 60% $2,000 45% 32
Ebb 18% 1,998 5/25/2015 3.0 17.0 $18.00 14000 6.60 $1,200 63% $1,300 36% 31
Cedar 15% 1,673 10/6/2020 2.1 17.7 $17.50 12000 3.91 $900 54% $1,700 60% 24
Feat 14% 1,551 1/6/2020 3.0 17.0 $19.32 14400 6.60 $980 58% $1,020 30% 25
Bead 13% 1,427 5/25/2015 3.0 17.0 $21.00 14000 6.60 $1,300 74% $1,418 40% 23
Cake 1% 76 5/14/2021 5.7 14.3 $23.50 14250 2.00 $950 62% $1,500 60% 1
Able 0% 12 4/29/2021 6.0 13.8 $26.00 17500 2.06 $1,600 79% $1,600 43% 0
Eat 0% 5 7/15/2021 6.4 13.6 $28.00 17500 1.95 $1,000 59% $1,200 36% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C110186 Round: 2
Dec. 31, 2021

High End Statistics

Total Industry Unit Demand 3,448
Actual Industry Unit Sales |3,448
Segment % of Total Industry |11.9%

Next Year's Segment Growth Rate |16.2%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 10.7 Size 9.3 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $29.00 - 39.00 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 25% 873 12/18/2021 10.4 9.6 $39.00 23500 1.19 $1,250 71% $1,418 53% 38
Echo 18% 635 9/19/2021 10.0 10.7 $39.00 23000 1.42 $1,000 58% $1,200 40% 20
Adam 17% 569 6/20/2021 9.8 10.2 $38.80 23000 2.11 $1,000 55% $1,000 35% 17
Fist 14% 469 8/6/2021 10.0 10.2 $39.00 23000 2.05 $1,300 67% $1,300 42% 20
Dixie 11% 364 8/10/2021 10.0 10.0 $39.50 23000 2.04 $1,200 60% $1,000 34% 16
Cid 7% 245 4/19/2018 8.0 12.0 $31.00 23000 3.70 $600 41% $600 30% 4
Bold 6% 211 7/27/2021 8.8 13.5 $34.00 22000 1.67 $1,300 72% $681 53% 5
Daze 1% 27 3/31/2021 YES 6.4 13.5 $27.00 17500 1.99 $1,200 71% $1,500 34% 0
Buddy 1% 24 9/18/2021 6.2 11.4 $34.00 16000 1.64 $1,300 72% $737 53% 1
Edge 0% 13 5/19/2020 10.0 15.0 $34.00 25000 3.06 $1,000 56% $1,000 40% 0
Fast 0% 9 12/6/2020 7.0 14.3 $26.00 18000 3.08 $1,200 71% $1,300 42% 0
Eat 0% 5 7/15/2021 6.4 13.6 $28.00 17500 1.95 $1,000 59% $1,200 40% 0

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C110186 Round: 2
Dec. 31, 2021

Performance Statistics
Total Industry Unit Demand 2,749
Actual Industry Unit Sales |2,749
Segment % of Total Industry |9.5%

Next Year's Segment Growth Rate |19.8%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 11.4 Size 14.6 29%
3. Price $24.00 - 34.00 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 24% 667 8/6/2021 YES 11.4 14.5 $33.00 27000 1.65 $1,200 58% $1,000 27% 32
Foam 24% 664 8/22/2021 11.4 14.6 $33.00 25000 1.66 $1,100 55% $1,000 30% 23
Coat 21% 580 8/12/2021 10.4 15.3 $32.50 27000 2.44 $1,000 50% $900 26% 26
Edge 17% 472 5/19/2020 10.0 15.0 $34.00 25000 3.06 $1,000 56% $1,000 29% 14
Aft 7% 202 7/6/2021 11.0 15.0 $30.00 22500 1.66 $600 40% $600 19% 11
Bold 5% 144 7/27/2021 8.8 13.5 $34.00 22000 1.67 $1,300 72% $681 23% 3
Fast 1% 18 12/6/2020 7.0 14.3 $26.00 18000 3.08 $1,200 71% $1,300 30% 0

CAPSTONE ® COURIER Page 8

Size Segment Analysis C110186 Round: 2
Dec. 31, 2021

Size Statistics
Total Industry Unit Demand 2,776
Actual Industry Unit Sales |2,776
Segment % of Total Industry |9.6%

Next Year's Segment Growth Rate |18.3%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 5.4 Size 8.6 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $24.00 - 34.00 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
Dune 24% 662 8/11/2021 5.4 8.7 $33.00 19000 1.62 $1,000 56% $1,100 38% 37
Fume 23% 651 8/22/2021 5.4 8.6 $31.00 19000 1.60 $1,000 50% $900 30% 36
Agape 19% 532 6/10/2021 4.7 9.4 $34.60 20000 1.73 $1,300 61% $1,100 31% 24
Cure 19% 525 5/22/2021 4.7 9.6 $33.00 18000 1.79 $1,200 67% $1,000 35% 21
Buddy 7% 198 9/18/2021 6.2 11.4 $34.00 16000 1.64 $1,300 72% $737 28% 7
Egg 6% 157 7/30/2021 4.5 10.0 $32.50 19000 2.51 $850 45% $850 29% 11
Daze 1% 30 3/31/2021 YES 6.4 13.5 $27.00 17500 1.99 $1,200 71% $1,500 38% 0
Able 1% 16 4/29/2021 6.0 13.8 $26.00 17500 2.06 $1,600 79% $1,600 31% 0
Eat 0% 3 7/15/2021 6.4 13.6 $28.00 17500 1.95 $1,000 59% $1,200 29% 0
Cake 0% 1 5/14/2021 5.7 14.3 $23.50 14250 2.00 $950 62% $1,500 35% 0

CAPSTONE ® COURIER Page 9

 Round: 2
Market Share C110186 Dec. 31, 2021

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 8,809 11,180 3,448 2,749 2,776 28,961 Units Demanded 8,809 11,180 3,448 2,749 2,776 28,961
% of Market 30.4% 38.6% 11.9% 9.5% 9.6% 100.0% % of Market 30.4% 38.6% 11.9% 9.5% 9.6% 100.0%

Able 22.0% 0.1% 0.6% 6.8% Able 21.9% 0.6% 6.8%

Acre 21.6% 8.3% Acre 21.6% 8.3%
Adam 16.5% 2.0% Adam 15.9% 1.9%
Aft 7.3% 0.7% Aft 6.6% 0.6%
Agape 19.2% 1.8% Agape 19.2% 1.8%
Total 22.0% 21.7% 16.6% 7.3% 19.7% 19.6% Total 21.9% 21.7% 16.0% 6.6% 19.7% 19.5%

Baker 10.8% 3.3% Baker 10.8% 3.3%

Bead 12.8% 4.9% Bead 12.8% 4.9%
Bid 25.3% 3.0% Bid 28.6% 3.4%
Bold 6.1% 5.3% 1.2% Bold 5.8% 4.7% 1.1%
Buddy 0.7% 7.1% 0.8% Buddy 0.6% 7.1% 0.8%
Total 10.9% 12.8% 32.1% 5.3% 7.1% 13.2% Total 10.8% 12.8% 35.1% 4.7% 7.1% 13.5%

Cake 18.9% 0.7% 6.0% Cake 18.9% 0.7% 6.0%

Cedar 15.0% 5.8% Cedar 15.0% 5.8%
Cid 1.9% 7.1% 1.4% Cid 1.9% 6.6% 1.4%
Coat 21.1% 2.0% Coat 18.9% 1.8%
Cure 18.9% 1.8% Cure 18.9% 1.8%
Total 20.8% 15.6% 7.1% 21.1% 19.0% 17.0% Total 20.8% 15.6% 6.6% 18.9% 19.0% 16.8%

Daze 16.6% 0.8% 1.1% 5.2% Daze 16.9% 0.7% 1.1% 5.3%
Dell 18.1% 7.0% Dell 18.1% 7.0%
Dixie 10.6% 1.3% Dixie 10.2% 1.2%
Dot 24.3% 2.3% Dot 30.7% 2.9%
Dune 23.9% 2.3% Dune 23.9% 2.3%
Total 16.6% 18.1% 11.4% 24.3% 24.9% 18.1% Total 16.9% 18.1% 10.9% 30.7% 24.9% 18.7%

Eat 14.6% 0.1% 4.5% Eat 14.6% 4.5%

Ebb 17.9% 6.9% Ebb 17.9% 6.9%
Echo 18.4% 2.2% Echo 17.7% 2.1%
Edge 0.4% 17.2% 1.7% Edge 0.3% 17.0% 1.7%
Egg 5.7% 0.6% Egg 5.7% 0.6%
Total 14.7% 17.9% 18.9% 17.2% 5.8% 15.8% Total 14.7% 17.9% 18.1% 17.0% 5.8% 15.7%

Fast 15.0% 0.3% 0.7% 4.7% Fast 14.9% 0.2% 0.6% 4.6%
Feat 13.9% 5.4% Feat 13.9% 5.4%
Fist 13.6% 1.6% Fist 13.1% 1.6%
Foam 24.2% 2.3% Foam 21.5% 2.0%
Fume 23.4% 2.3% Fume 23.5% 2.2%
Total 15.0% 13.9% 13.9% 24.8% 23.4% 16.2% Total 14.9% 13.9% 13.3% 22.1% 23.4% 15.8%

CAPSTONE ® COURIER Page 10

 Round: 2
Perceptual Map C110186 Dec. 31, 2021

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 6.0 13.8 4/29/2021 Baker 6.5 13.5 12/5/2021 Cake 5.7 14.3 5/14/2021
Acre 3.0 17.0 5/25/2015 Bead 3.0 17.0 5/25/2015 Cedar 2.1 17.7 10/6/2020
Adam 9.8 10.2 6/20/2021 Bid 10.4 9.6 12/18/2021 Cid 8.0 12.0 4/19/2018
Aft 11.0 15.0 7/6/2021 Bold 8.8 13.5 7/27/2021 Coat 10.4 15.3 8/12/2021
Agape 4.7 9.4 6/10/2021 Buddy 6.2 11.4 9/18/2021 Cure 4.7 9.6 5/22/2021

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 6.4 13.5 3/31/2021 Eat 6.4 13.6 7/15/2021 Fast 7.0 14.3 12/6/2020
Dell 3.0 17.0 5/25/2015 Ebb 3.0 17.0 5/25/2015 Feat 3.0 17.0 1/6/2020
Dixie 10.0 10.0 8/10/2021 Echo 10.0 10.7 9/19/2021 Fist 10.0 10.2 8/6/2021
Dot 11.4 14.5 8/6/2021 Edge 10.0 15.0 5/19/2020 Foam 11.4 14.6 8/22/2021
Dune 5.4 8.7 8/11/2021 Egg 4.5 10.0 7/30/2021 Fume 5.4 8.6 8/22/2021

CAPSTONE ® COURIER Page 11

 Round: 2
HR/TQM Report C110186 Dec. 31, 2021
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 1,137 646 733 698 752 770
Complement 1,137 646 734 698 752 770
1st Shift Complement 792 546 605 698 752 640
2nd Shift Complement 345 100 129 0 0 130
Overtime Percent 0.0% 0.0% 0.0% 0.0% 0.1% 0.0%
Turnover Rate 9.3% 8.9% 9.3% 9.6% 10.0% 10.0%
New Employees 482 57 68 67 75 77
Separated Employees 0 73 292 134 70 141
Recruiting Spend $1,000 $2,000 $2,000 $1,000 $100 $500
Training Hours 20 30 20 10 0 0
Productivity Index 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Recruiting Cost $964 $172 $204 $134 $83 $116
Separation Cost $0 $363 $1,460 $670 $350 $705
Training Cost $455 $388 $294 $140 $0 $0
Total HR Admin Cost $1,419 $923 $1,957 $944 $433 $821
Labor Contract Next Year
Wages $23.15 $23.15 $23.15 $23.15 $23.15 $23.15
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


Ethics Report
Other (Fees, Writeoffs, etc.)
Demand Factor
Material Cost Impact
Admin Cost Impact
Productivity Impact
Awareness Impact
Accessibility Impact
Round: 2
C110186 Dec. 31, 2021
ETHICS SUMMARY
The actual dollar impact. Example, $120 means Other increased by $120.
The % of normal. 98% means demand fell 2%.
The % of normal. 104% means matieral costs rose 4%.
The % of normal. 103% means admin costs rose 3%.
The % of normal. 104% means productivity increased by 4%.
The % of normal. 105% means normal awareness was multiplied by 1.05.
The % of normal. 98% means normal accessiblity was multiplied by 0.98.
Normal means the value that would have been produced if the problem had not been presented.

No Impact Andrews Baldwin Chester Digby Erie Ferris

Total
Other (Fees, Writeoffs, etc.) $0 $0 $0 $0 $0 $0 $0
Demand Factor 100% 100% 100% 100% 100% 100% 100%
Material Cost Impact 100% 100% 100% 100% 100% 100% 100%
Admin Cost Impact 100% 100% 100% 100% 100% 100% 100%
Productivity Impact 100% 100% 100% 100% 100% 100% 100%
Awareness Impact 100% 100% 100% 100% 100% 100% 100%
Accessibility Impact 100% 100% 100% 100% 100% 100% 100%

CAPSTONE ® COURIER Page 13

 Annual Report
Round: 2
Annual Report Andrews C110186
Dec. 31, 2021
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2021 2020
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% $4,496
current value of your inventory across all products. A zero
Account Receivable $17,346 11.9% $14,370
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $34,779 23.8% $9,105
Equipment: The current value of your plant. Accum Total Current Assets $52,125 35.7% $27,971
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $147,540 101.0% $123,700
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($53,592) -36.7% ($46,180)
of operations. It includes emergency loans used to keep Total Fixed Assets $93,948 64.3% $77,520
your company solvent should you run out of cash during Total Assets $146,073 100.0% $105,491
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 $8,987 6.2% $5,770
instead of paying to shareholders as dividends.
Current Debt $40,799 27.9% $2,500
Long Term Debt $37,750 25.8% $40,695
Total Liabilities $87,536 59.9% $48,965

Common Stock $29,860 20.4% $23,860

Retained Earnings $28,677 19.6% $32,666
Total Equity $58,537 40.1% $56,526
Total Liab. & O. Equity $146,073 100.0% $105,491

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2021 2020
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) ($3,989) $3,084
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $9,836 $8,247
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs ($93) ($5)
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable $3,217 ($813)
are bad and you find yourself carrying an abundance of excess inventory,
Inventory ($25,674) ($488)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($2,976) ($6,063)
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 ($19,678) $3,962
afloat. Cash Flows from Investing Activities
Plant Improvements ($26,171) ($9,900)
Cash Flows from Financing Activities
Dividends paid $0 $0
Sales of common stock $6,000 $5,500
Purchase of common stock $0 $0
Cash from long term debt $3,000 $0
Retirement of long term debt ($5,945) ($1,000)
Change in current debt(net) $38,299 $2,500
Net cash from financing activities $41,354 $7,000
Net change in cash position ($4,496) $1,062
Closing cash position $0 $4,496

Annual Report Page 14

 Round: 2
Annual Report Andrews C110186
Dec. 31, 2021
2021 Income Statement
2021 Common
(Product Name) Able Acre Adam Aft Agape
Total
Size
Sales $51,185 $42,961 $22,091 $6,059 $18,402 $0 $0 $0 $140,699 100.0%
Variable Costs:
Direct Labor $18,372 $20,526 $4,675 $1,863 $4,562 $0 $0 $0 $49,998 35.5%
Direct Material $20,968 $16,038 $8,647 $2,842 $7,050 $0 $0 $0 $55,546 39.5%
Inventory Carry $2,344 $674 $360 $273 $522 $0 $0 $0 $4,173 3.0%
Total Variable $41,684 $37,238 $13,682 $4,979 $12,134 $0 $0 $0 $109,717 78.0%
Contribution Margin $9,501 $5,723 $8,408 $1,081 $6,268 $0 $0 $0 $30,982 22.0%
Period Costs:
Depreciation $3,120 $4,000 $1,056 $540 $1,120 $0 $0 $0 $9,836 7.0%
SG&A: R&D $330 $0 $473 $518 $446 $0 $0 $0 $1,766 1.3%
Promotions $1,600 $1,500 $1,000 $600 $1,300 $0 $0 $0 $6,000 4.3%
Sales $1,600 $1,500 $1,000 $600 $1,100 $0 $0 $0 $5,800 4.1%
Admin $875 $734 $377 $104 $314 $0 $0 $0 $2,404 1.7%
Total Period $7,525 $7,734 $3,906 $2,361 $4,280 $0 $0 $0 $25,806 18.3%
Net Margin $1,977 ($2,011) $4,502 ($1,280) $1,988 $0 $0 $0 $5,176 3.7%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $357 0.3%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $4,819 3.4%
straight-line. 15-year depreciation of plant value. R&D Costs: R&D department expenditures for each Short Term Interest $5,957 4.2%
product. Admin: Administration overhead is estimated at 1.5% of sales. Promotions: The promotion budget Long Term Interest $4,999 3.6%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes ($2,148) -1.5%
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 ($3,989) -2.8%
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 15