Round: 7

Dec. 31, C112348

2026
Andrews Baldwin Chester
Priyanshi Agarwal Onkar Vengurlekar Deepak Bora
Abhishek Deokar RAHUL NAIR
Tanya Dhingra Shashank Nanjundesw
Vamini Madan shashank nuti
Vamini Madan Anup Reddy
Vivek Raj Arsh Prit Singh

Digby Erie Ferris

Aranya . Naman Bhatia Rhythm Aggarwal
Shreya Agarwal Atharv Chitnis MAYASREE GOSWAMI
Nirvika Ahuja Gourav Dadhich Pallav Kumar
Japna Chawla Saransh Kansal Vithal Lakhotia
Animesh Goyal Swecchha Kumari Ankita Nair
Ridhima Kalra Shilpy Siwach Abhishek Singh

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 5.1% 8.6% 6.5% -38.9% 9.3% 7.0%
Asset Turnover 2.59 1.01 0.93 0.56 1.48 1.17
ROA 13.3% 8.7% 6.1% -21.6% 13.7% 8.2%
Leverage 2.8 1.9 1.8 44.2 2.1 8.2
ROE 37.2% 16.9% 11.1% -954.5% 28.2% 67.0%
Emergency Loan $18,927,873 $0 $0 $87,213,299 $0 $69,812,251
Sales $286,553,925 $286,396,516 $287,913,431 $83,039,622 $282,036,923 $183,172,080
EBIT $32,007,452 $54,861,343 $46,428,629 ($25,157,344) $52,118,281 $42,734,328
Profits $14,748,620 $24,626,524 $18,730,029 ($32,289,226) $26,174,339 $12,795,569
Cumulative Profit ($9,070,570) $86,361,930 $63,186,127 ($56,450,610) $71,622,073 ($32,367,336)
SG&A / Sales 8.9% 6.5% 13.6% 29.7% 11.5% 11.0%
Contrib. Margin % 25.5% 33.9% 43.3% 20.6% 38.4% 32.8%

CAPSTONE ® COURIER Page 1

 Round: 7
Stock & Bonds C112348 Dec. 31, 2026
Stock Market Summary
MarketCap Book Value
Company Close Change Shares EPS Dividend Yield P/E
($M) Per Share
Andrews $27.52 $13.59 3,282,047 $90 $12.09 $4.49 $0.00 0.0% 6.1
Baldwin $99.93 $27.03 2,527,431 $253 $57.81 $9.74 $2.74 2.7% 10.3
Chester $71.85 $8.55 3,461,195 $249 $48.66 $5.41 $0.00 0.0% 13.3
Digby $1.00 $0.00 3,842,055 $4 $0.88 ($8.40) $0.00 0.0% -0.1
Erie $96.67 $31.11 2,322,278 $225 $39.91 $11.27 $8.00 8.3% 8.6
Ferris $1.00 $0.00 4,955,270 $5 $3.86 $2.58 $0.00 0.0% 0.4

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
11.3S2030 $5,000,000 13.0% 86.60 C 11.3S2030 $15,000,000 13.3% 84.85 DDD
13.8S2031 $10,000,000 14.9% 92.49 C 13.6S2031 $2,000,000 15.2% 89.72 DDD
14.3S2032 $7,056,000 15.3% 93.39 C 14.1S2032 $5,000,000 15.6% 90.26 DDD
14.8S2033 $8,000,000 15.6% 94.77 C 16.2S2036 $30,000,000 16.7% 97.18 DDD
16.2S2036 $6,000,000 16.1% 100.48 C Erie
Baldwin 11.3S2030 $6,571,000 12.6% 89.70 B
12.6S2033 $35,984,745 13.8% 91.58 B 11.7S2031 $13,430,000 13.1% 89.25 B
13.6S2034 $20,411,312 14.2% 95.45 B 12.7S2032 $8,070,000 13.9% 91.65 B
13.9S2035 $26,554,898 14.4% 96.61 B 12.8S2033 $6,780,000 14.0% 91.24 B
14.6S2036 $954,916 14.6% 100.00 B 13.3S2034 $13,000,000 14.3% 92.80 B
Chester 13.3S2035 $21,042,000 14.4% 92.34 B
11.3S2030 $7,000,000 12.4% 91.31 BB 14.5S2036 $15,242,000 14.8% 97.98 B
13.3S2033 $14,000,000 13.9% 95.75 BB Ferris
13.2S2034 $26,000,000 13.9% 94.95 BB 11.3S2030 $3,300,000 13.3% 84.85 DDD
13.1S2035 $40,000,000 13.9% 94.13 BB 12.0S2031 $10,570,000 14.2% 84.57 DDD
14.1S2036 $40,000,000 14.2% 98.97 BB 13.6S2032 $1,500,000 15.4% 88.45 DDD
14.7S2033 $11,000,000 16.0% 91.72 DDD
15.3S2034 $15,000,000 16.3% 93.65 DDD
15.8S2035 $20,000,000 16.5% 95.52 DDD

Next Year's Prime Rate10.50%

CAPSTONE ® COURIER Page 2
 Round: 7
Financial Summary C112348 Dec. 31, 2026
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $14,749 $24,627 $18,730 ($32,289) $26,174 $12,796
Adjustment for non-cash items:
Depreciation $10,192 $19,913 $26,000 $11,080 $14,767 $8,466
Extraordinary gains/losses/writeoffs $0 $0 $0 $0 ($2,884) ($11,340)
Changes in current assets and liablilities
Accounts payable $514 $4,658 $134 ($6,340) $2,907 ($12,374)
Inventory $14,018 ($10,887) $327 ($1,168) ($218) ($4,213)
Accounts Receivable ($2,004) ($4,235) ($2,475) $3,110 $1,178 ($11,079)
Net cash from operations $37,469 $34,075 $42,715 ($25,607) $41,924 ($17,745)

Cash flows from investing activities

Plant improvements(net) ($16,660) ($26,000) ($72,000) $0 ($18,918) $38,220
Cash flows from financing activities
Dividends paid $0 ($6,929) $0 $0 ($18,578) $0
Sales of common stock $4,000 $0 $20,000 $0 $0 $826
Purchase of common stock $0 $0 $0 $0 ($8,014) $0
Cash from long term debt issued $6,000 $955 $40,000 $30,000 $15,242 $0
Early retirement of long term debt $0 $0 $0 $0 $0 $0
Retirement of current debt ($49,737) ($50,170) ($20,850) ($91,606) ($20,850) ($91,113)
Cash from current debt borrowing $0 $38,039 $0 $0 $0 $0
Cash from emergency loan $18,928 $0 $0 $87,213 $0 $69,812

Net cash from financing activities ($20,809) ($18,106) $39,150 $25,607 ($32,200) ($20,475)

Net change in cash position $0 ($10,031) $9,865 $0 ($9,194) $0

Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $0 $60,776 $22,509 $0 $45,013 $0
Accounts Receivable $23,552 $23,539 $23,664 $6,825 $23,181 $20,074
Inventory $32,398 $20,950 $15,058 $85,462 $10,604 $83,280
Total Current Assets $55,951 $105,265 $61,231 $92,287 $78,798 $103,354

Plant and equipment $152,880 $298,700 $390,000 $166,200 $221,500 $126,989

Accumulated Depreciation ($98,095) ($119,660) ($142,547) ($108,880) ($109,296) ($73,626)
Total Fixed Assets $54,785 $179,040 $247,453 $57,320 $112,204 $53,363

Total Assets $110,736 $284,305 $308,684 $149,607 $191,002 $156,717

Accounts Payable $16,073 $16,245 $13,250 $7,011 $14,184 $6,431

Current Debt $18,928 $38,039 $0 $87,213 $0 $69,812
Total Current Liabilities $35,001 $54,284 $13,250 $94,224 $14,184 $76,243

Long Term Debt $36,056 $83,906 $127,000 $52,000 $84,135 $61,370

Total Liabilities $71,057 $138,189 $140,250 $146,225 $98,319 $137,614

Common Stock $23,356 $50,881 $81,960 $34,440 $39,529 $26,077

Retained Earnings $16,323 $95,235 $86,475 ($31,057) $53,154 ($6,974)
Total Equity $39,679 $146,116 $168,434 $3,383 $92,683 $19,103

Total Liabilities & Owners Equity $110,736 $284,305 $308,684 $149,607 $191,002 $156,717

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $286,554 $286,397 $287,913 $83,040 $282,037 $183,172
Variable Costs(Labor,Material,Carry) $213,467 $189,268 $163,337 $65,956 $173,624 $123,153
Contribution Margin $73,087 $97,129 $124,576 $17,084 $108,413 $60,019
Depreciation $10,192 $19,913 $26,000 $11,080 $14,767 $8,466
SGA(R&D,Promo,Sales,Admin) $25,587 $18,556 $39,147 $24,661 $32,530 $20,118
Other(Fees,Writeoffs,TQM,Bonuses) $5,300 $3,798 $13,000 $6,500 $8,998 ($11,299)
EBIT $32,007 $54,861 $46,429 ($25,157) $52,118 $42,734
Interest(Short term,Long term) $8,807 $16,162 $16,965 $24,518 $10,944 $22,606
Taxes $8,120 $13,545 $10,312 ($17,387) $14,411 $7,045
Profit Sharing $332 $528 $421 $0 $589 $288
Net Profit $14,749 $24,627 $18,730 ($32,289) $26,174 $12,796
CAPSTONE ® COURIER Page 3
 Round: 7
Production Analysis C112348 Dec. 31, 2026

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 2,162 1,487 4/10/2026 1.7 19000 9.8 10.2 $26.50 $8.97 $8.72 24% 0% 4.3 1,800 83%
Acre Low 2,970 0 7/28/2023 5.6 14000 4.7 15.3 $18.60 $4.61 $9.19 25% 100% 5.5 1,700 198%
Adam High 1,810 159 6/6/2026 1.6 23500 14.4 5.6 $36.60 $12.89 $12.90 29% 100% 3.0 1,100 198%
Aft Pfmn 1,383 32 5/30/2026 1.6 27000 15.6 11.7 $32.00 $12.80 $12.74 20% 100% 3.3 800 198%
Agape Size 1,386 0 5/30/2026 1.6 21000 8.3 4.4 $32.00 $11.21 $12.74 25% 100% 3.3 800 198%
Amaze Low 891 0 1/9/2026 3.3 14000 4.8 15.2 $21.50 $4.67 $9.68 33% 100% 5.0 500 198%

Baker Low 1,570 64 3/19/2024 4.3 16000 6.5 13.5 $19.00 $6.97 $6.67 27% 50% 7.5 1,100 149%
Bead Low 3,620 241 7/19/2025 6.5 14000 5.2 14.8 $19.00 $5.51 $3.33 52% 50% 9.5 2,500 149%
Bid High 1,720 634 7/1/2026 1.5 24000 15.6 4.4 $36.50 $15.42 $9.77 28% 39% 5.0 1,550 137%
Bold Trad 2,359 50 10/12/2025 2.4 19000 10.1 9.9 $26.50 $10.27 $8.43 28% 57% 6.5 1,650 155%
Buddy Trad 2,358 55 10/21/2025 2.4 19000 10.1 9.9 $26.50 $10.27 $8.43 28% 57% 6.5 1,750 155%

Cake Trad 2,224 57 7/15/2026 1.5 19000 9.2 10.8 $26.50 $8.57 $4.77 49% 0% 7.5 2,300 91%
Cedar Low 2,609 818 7/10/2026 1.6 14000 4.7 15.3 $18.00 $4.59 $3.58 52% 0% 8.5 2,900 99%
Cid High 597 0 2/7/2026 2.7 23500 13.4 6.6 $36.50 $12.24 $5.96 50% 0% 6.5 900 44%
Coat Pfmn 1,713 366 7/25/2026 1.5 27000 15.4 11.8 $31.50 $12.64 $7.18 36% 75% 6.5 1,600 173%
Cure Size 2,165 13 7/25/2026 1.5 21000 8.2 4.6 $31.50 $11.06 $7.26 42% 83% 6.5 1,600 182%
Caesar High 495 0 12/15/2026 0.9 24000 14.5 5.5 $36.00 $13.02 $9.54 39% 0% 4.5 500 99%
Cool Trad 446 0 11/4/2026 1.0 19000 9.5 10.5 $26.00 $8.74 $9.54 32% 0% 4.5 1,000 45%
Coke Low 495 0 7/20/2026 1.2 14000 5.0 15.0 $17.50 $4.77 $9.54 19% 0% 4.5 1,000 50%

Daze Trad 639 1,056 11/16/2026 2.0 19000 8.6 11.3 $26.00 $9.26 $8.75 18% 0% 5.0 1,800 27%
Dell Low 1,551 1,748 10/9/2026 3.7 15000 4.2 15.9 $18.50 $5.09 $5.26 38% 74% 8.0 1,900 168%
Dixie High 174 1,205 11/21/2026 1.8 24000 13.0 7.1 $36.00 $0.00 $0.00 -16% 0% 4.0 1,000 0%
Dot Pfmn 523 378 11/22/2026 2.4 27000 14.1 12.9 $31.49 $13.46 $11.66 13% 0% 3.0 700 41%
Dune Size 475 495 11/19/2026 1.9 21000 5.9 6.2 $31.49 $11.37 $11.66 15% 0% 3.0 700 55%

Eat Trad 2,024 25 11/6/2026 1.3 19000 10.6 9.4 $25.90 $9.46 $5.42 44% 20% 8.0 1,500 119%
Ebb Low 2,616 66 10/12/2026 1.4 17000 5.9 14.2 $17.90 $6.10 $3.73 44% 48% 10.0 1,550 147%
Echo High 1,758 24 9/29/2026 1.3 25000 14.7 5.3 $36.50 $13.49 $11.10 34% 100% 5.0 950 198%
Edge Pfmn 1,465 197 9/3/2026 1.4 27000 15.5 11.6 $31.40 $12.81 $7.22 36% 78% 6.0 900 176%
Egg Size 1,517 265 9/3/2026 1.4 21000 8.4 4.7 $31.80 $11.13 $7.40 41% 100% 6.0 950 198%
Elliot Pfmn 783 10 8/21/2026 1.0 27000 15.0 12.0 $31.10 $12.55 $9.86 29% 60% 5.0 500 158%

Fast Trad 1,509 1,627 6/16/2025 2.7 19000 8.6 11.5 $27.73 $8.23 $7.45 36% 100% 6.0 1,000 199%
Feat Low 2,477 802 5/3/2025 3.8 14000 4.5 15.5 $18.47 $4.50 $6.51 36% 73% 6.5 1,500 173%
Fist High 751 754 10/8/2025 2.6 25000 12.9 7.1 $36.47 $0.00 $0.00 35% 0% 5.5 1 0%
Foam Pfmn 915 655 8/31/2025 2.8 27000 13.8 13.0 $31.40 $11.91 $8.19 29% 100% 5.5 600 199%
Fume Size 888 1,024 9/13/2025 2.8 21000 7.0 6.2 $32.00 $10.32 $8.19 33% 100% 5.5 601 199%
Fuffy Low 598 0 11/19/2025 2.0 14000 5.1 15.5 $18.49 $4.69 $12.03 9% 0% 1.0 600 100%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C112348 Round: 7
Dec. 31, 2026

Traditional Statistics
Total Industry Unit Demand 13,678
Actual Industry Unit Sales |13,678
Segment % of Total Industry |25.5%

Next Year's Segment Growth Rate |9.2%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $16.50 - 26.50 23%
3. Ideal Position Pfmn 9.9 Size 10.1 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
Bold 17% 2,359 10/12/2025 10.1 9.9 $26.50 19000 2.40 $1,900 95% $1,220 98% 59
Buddy 17% 2,358 10/21/2025 10.1 9.9 $26.50 19000 2.39 $1,900 95% $1,220 98% 59
Cake 16% 2,224 7/15/2026 9.2 10.8 $26.50 19000 1.50 $1,805 94% $3,420 100% 56
Able 16% 2,162 4/10/2026 9.8 10.2 $26.50 19000 1.69 $1,400 87% $3,355 83% 62
Eat 15% 2,024 11/6/2026 10.6 9.4 $25.90 19000 1.28 $1,750 93% $3,380 87% 45
Fast 11% 1,509 6/16/2025 8.6 11.5 $27.73 19000 2.71 $1,600 91% $2,382 85% 25
Daze 4% 597 11/16/2026 8.6 11.3 $26.00 19000 2.00 $1,440 90% $2,042 87% 45
Cool 3% 441 11/4/2026 YES 9.5 10.5 $26.00 19000 1.00 $2,040 76% $1,368 100% 35
Baker 0% 4 3/19/2024 6.5 13.5 $19.00 16000 4.26 $1,900 67% $1,220 98% 0

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C112348 Round: 7
Dec. 31, 2026

Low End Statistics

Total Industry Unit Demand 19,440
Actual Industry Unit Sales |19,440
Segment % of Total Industry |36.2%

Next Year's Segment Growth Rate |11.7%

Low End Customer Buying Criteria
Expectations Importance
1. Price $11.50 - 21.50 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 5.2 Size 14.8 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
Bead 19% 3,620 7/19/2025 5.2 14.8 $19.00 14000 6.52 $1,900 95% $1,220 67% 32
Acre 15% 2,970 7/28/2023 YES 4.7 15.3 $18.60 14000 5.63 $1,400 87% $2,485 91% 34
Ebb 13% 2,616 10/12/2026 5.9 14.2 $17.90 17000 1.36 $1,750 93% $4,225 82% 21
Cedar 13% 2,609 7/10/2026 4.7 15.3 $18.00 14000 1.57 $1,805 94% $3,420 100% 22
Feat 13% 2,477 5/3/2025 4.5 15.5 $18.47 14000 3.77 $1,600 91% $1,985 68% 20
Baker 8% 1,566 3/19/2024 6.5 13.5 $19.00 16000 4.26 $1,900 95% $1,220 67% 15
Dell 8% 1,551 10/9/2026 4.2 15.9 $18.50 15000 3.66 $1,400 89% $1,362 63% 13
Amaze 5% 891 1/9/2026 YES 4.8 15.2 $21.50 14000 3.30 $1,400 87% $994 91% 10
Fuffy 3% 598 11/19/2025 YES 5.1 15.5 $18.49 14000 1.98 $700 25% $695 68% 10
Coke 3% 495 7/20/2026 YES 5.0 15.0 $17.50 14000 1.19 $2,040 76% $1,197 100% 22
Daze 0% 42 11/16/2026 8.6 11.3 $26.00 19000 2.00 $1,440 67% $2,042 63% 0
Cool 0% 5 11/4/2026 YES 9.5 10.5 $26.00 19000 1.00 $2,040 47% $1,368 100% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C112348 Round: 7
Dec. 31, 2026

High End Statistics

Total Industry Unit Demand 7,305
Actual Industry Unit Sales |7,305
Segment % of Total Industry |13.6%

Next Year's Segment Growth Rate |16.2%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 15.2 Size 4.8 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $26.50 - 36.50 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
Adam 25% 1,810 6/6/2026 14.4 5.6 $36.60 23500 1.63 $1,400 92% $1,740 71% 39
Echo 24% 1,758 9/29/2026 14.7 5.3 $36.50 25000 1.30 $900 87% $3,380 77% 62
Bid 24% 1,720 7/1/2026 15.6 4.4 $36.50 24000 1.46 $1,900 95% $1,220 51% 43
Fist 10% 751 10/8/2025 12.9 7.1 $36.47 25000 2.65 $900 84% $993 51% 11
Cid 8% 597 2/7/2026 YES 13.4 6.6 $36.50 23500 2.75 $1,585 95% $1,710 100% 16
Caesar 7% 495 12/15/2026 YES 14.5 5.5 $36.00 24000 0.90 $1,840 77% $855 100% 59
Dixie 2% 174 11/21/2026 13.0 7.1 $36.00 24000 1.76 $1,500 94% $2,334 65% 15

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C112348 Round: 7
Dec. 31, 2026

Performance Statistics
Total Industry Unit Demand 6,783
Actual Industry Unit Sales |6,783
Segment % of Total Industry |12.7%

Next Year's Segment Growth Rate |19.8%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 16.4 Size 11.1 29%
3. Price $21.50 - 31.50 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
Coat 25% 1,713 7/25/2026 15.4 11.8 $31.50 27000 1.46 $1,545 94% $2,565 99% 68
Edge 22% 1,465 9/3/2026 15.5 11.6 $31.40 27000 1.37 $1,350 91% $2,535 85% 65
Aft 20% 1,383 5/30/2026 15.6 11.7 $32.00 27000 1.57 $1,400 90% $1,988 71% 52
Foam 13% 915 8/31/2025 13.8 13.0 $31.40 27000 2.78 $1,200 91% $1,886 65% 29
Elliot 12% 783 8/21/2026 15.0 12.0 $31.10 27000 1.00 $1,150 31% $1,690 85% 38
Dot 8% 523 11/22/2026 14.1 12.9 $31.49 27000 2.39 $1,400 92% $2,237 50% 27

CAPSTONE ® COURIER Page 8

Size Segment Analysis C112348 Round: 7
Dec. 31, 2026

Size Statistics
Total Industry Unit Demand 6,432
Actual Industry Unit Sales |6,432
Segment % of Total Industry |12.0%

Next Year's Segment Growth Rate |18.3%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 8.9 Size 3.6 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $21.50 - 31.50 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
Cure 34% 2,165 7/25/2026 8.2 4.6 $31.50 21000 1.46 $1,685 94% $2,565 100% 60
Egg 24% 1,517 9/3/2026 8.4 4.7 $31.80 21000 1.37 $1,300 90% $1,690 78% 47
Agape 22% 1,386 5/30/2026 YES 8.3 4.4 $32.00 21000 1.56 $1,500 91% $1,864 70% 50
Fume 14% 888 9/13/2025 7.0 6.2 $32.00 21000 2.76 $1,400 92% $1,985 72% 15
Dune 7% 475 11/19/2026 5.9 6.2 $31.49 21000 1.88 $1,500 93% $1,751 65% 23

CAPSTONE ® COURIER Page 9

 Round: 7
Market Share C112348 Dec. 31, 2026

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 13,678 19,440 7,305 6,783 6,432 53,638 Units Demanded 13,678 19,440 7,305 6,783 6,432 53,638
% of Market 25.5% 36.2% 13.6% 12.7% 12.0% 100.0% % of Market 25.5% 36.2% 13.6% 12.7% 12.0% 100.0%

Able 15.8% 4.0% Able 14.4% 3.7%

Acre 15.3% 5.5% Acre 17.4% 6.3%
Adam 24.8% 3.4% Adam 21.2% 2.9%
Aft 20.4% 2.6% Aft 20.4% 2.6%
Agape 21.6% 2.6% Agape 29.4% 3.5%
Amaze 4.6% 1.7% Amaze 5.2% 1.9%
Total 15.8% 19.9% 24.8% 20.4% 21.6% 19.8% Total 14.4% 22.7% 21.2% 20.4% 29.4% 20.9%

Baker 8.1% 2.9% Baker 6.7% 2.4%

Bead 18.6% 6.8% Bead 15.5% 5.6%
Bid 23.5% 3.2% Bid 20.2% 2.7%
Bold 17.3% 4.4% Bold 15.6% 4.0%
Buddy 17.2% 4.4% Buddy 15.6% 4.0%
Total 34.5% 26.7% 23.5% 21.7% Total 31.2% 22.2% 20.2% 18.7%

Cake 16.3% 4.2% Cake 14.8% 3.8%

Cedar 13.4% 4.9% Cedar 11.2% 4.0%
Cid 8.2% 1.1% Cid 12.3% 1.7%
Coat 25.3% 3.2% Coat 25.3% 3.2%
Cure 33.7% 4.0% Cure 31.7% 3.8%
Caesar 6.8% 0.9% Caesar 14.5% 2.0%
Cool 3.2% 0.8% Cool 8.5% 2.2%
Coke 2.5% 0.9% Coke 10.0% 3.6%
Total 19.5% 16.0% 14.9% 25.3% 33.7% 20.0% Total 23.3% 21.2% 26.8% 25.3% 31.7% 24.3%

Daze 4.4% 0.2% 1.2% Daze 4.1% 0.2% 1.1%

Dell 8.0% 2.9% Dell 6.6% 2.4%
Dixie 2.4% 0.3% Dixie 2.1% 0.3%
Dot 7.7% 1.0% Dot 7.7% 1.0%
Dune 7.4% 0.9% Dune 6.6% 0.8%
Total 4.4% 8.2% 2.4% 7.7% 7.4% 6.3% Total 4.1% 6.8% 2.1% 7.7% 6.6% 5.6%

Eat 14.8% 3.8% Eat 17.0% 4.3%

Ebb 13.5% 4.9% Ebb 11.2% 4.1%
Echo 24.1% 3.3% Echo 21.0% 2.9%
Edge 21.6% 2.7% Edge 21.6% 2.7%
Egg 23.6% 2.8% Egg 20.5% 2.5%
Elliot 11.5% 1.5% Elliot 11.5% 1.5%
Total 14.8% 13.5% 24.1% 33.1% 23.6% 18.9% Total 17.0% 11.2% 21.0% 33.1% 20.5% 17.9%

Fast 11.0% 2.8% Fast 10.0% 2.6%

Feat 12.7% 4.6% Feat 10.6% 3.8%
Fist 10.3% 1.4% Fist 8.8% 1.2%
Foam 13.5% 1.7% Foam 13.5% 1.7%
Fume 13.8% 1.7% Fume 11.9% 1.4%
Fuffy 3.1% 1.1% Fuffy 5.3% 1.9%
Total 11.0% 15.8% 10.3% 13.5% 13.8% 13.3% Total 10.0% 15.9% 8.8% 13.5% 11.9% 12.7%

CAPSTONE ® COURIER Page 10

 Round: 7
Perceptual Map C112348 Dec. 31, 2026

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 9.8 10.2 4/10/2026 Baker 6.5 13.5 3/19/2024 Cake 9.2 10.8 7/15/2026
Acre 4.7 15.3 7/28/2023 Bead 5.2 14.8 7/19/2025 Cedar 4.7 15.3 7/10/2026
Adam 14.4 5.6 6/6/2026 Bid 15.6 4.4 7/1/2026 Cid 13.4 6.6 2/7/2026
Aft 15.6 11.7 5/30/2026 Bold 10.1 9.9 10/12/2025 Coat 15.4 11.8 7/25/2026
Agape 8.3 4.4 5/30/2026 Buddy 10.1 9.9 10/21/2025 Cure 8.2 4.6 7/25/2026
Amaze 4.8 15.2 1/9/2026 Caesar 14.5 5.5 12/15/2026
Cool 9.5 10.5 11/4/2026
Coke 5.0 15.0 7/20/2026

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 8.6 11.3 11/16/2026 Eat 10.6 9.4 11/6/2026 Fast 8.6 11.5 6/16/2025
Dell 4.2 15.9 10/9/2026 Ebb 5.9 14.2 10/12/2026 Feat 4.5 15.5 5/3/2025
Dixie 13.0 7.1 11/21/2026 Echo 14.7 5.3 9/29/2026 Fist 12.9 7.1 10/8/2025
Dot 14.1 12.9 11/22/2026 Edge 15.5 11.6 9/3/2026 Foam 13.8 13.0 8/31/2025
Dune 5.9 6.2 11/19/2026 Egg 8.4 4.7 9/3/2026 Fume 7.0 6.2 9/13/2025
Elliot 15.0 12.0 8/21/2026 Fuffy 5.1 15.5 11/19/2025

CAPSTONE ® COURIER Page 11

 Round: 7
HR/TQM Report C112348 Dec. 31, 2026
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 1,441 1,130 958 423 972 814
Complement 1,441 1,130 958 423 972 814
1st Shift Complement 826 754 780 327 580 485
2nd Shift Complement 615 376 178 96 392 329
Overtime Percent 0.0% 0.0% 0.0% 0.0% 0.1% 0.0%
Turnover Rate 8.7% 9.5% 6.5% 9.6% 8.2% 8.1%
New Employees 141 286 62 40 162 66
Separated Employees 0 0 84 457 0 156
Recruiting Spend $3,000 $2,000 $3,000 $2,000 $3,000 $2,000
Training Hours 60 30 80 48 80 80
Productivity Index 107.4% 107.3% 118.6% 108.9% 116.1% 114.8%
Recruiting Cost $563 $859 $250 $121 $649 $197
Separation Cost $0 $0 $420 $2,285 $0 $780
Training Cost $1,729 $678 $1,533 $406 $1,555 $1,302
Total HR Admin Cost $2,293 $1,537 $2,202 $2,812 $2,204 $2,280
Labor Contract Next Year
Wages $30.80 $31.32 $31.65 $30.58 $30.54 $30.33
Benefits 2,700 2,625 2,750 2,625 2,675 2,688
Profit Sharing 2.2% 2.1% 2.2% 2.1% 2.2% 2.2%
Annual Raise 5.3% 5.3% 5.5% 5.3% 5.3% 5.4%
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 $1,000 $500 $1,000 $0
VendorJIT $0 $0 $1,000 $500 $1,500 $0
Quality Initiative Training $0 $0 $1,000 $500 $1,000 $0
Channel Support Systems $1,200 $750 $1,000 $500 $2,000 $0
Concurrent Engineering $1,200 $750 $1,000 $500 $1,000 $0
UNEP Green Programs $1,200 $0 $1,000 $500 $1,000 $0

TQM Budgets Last Year

Benchmarking $1,200 $750 $1,000 $500 $0 $0
Quality Function Deployment Effort $0 $750 $1,000 $500 $1,500 $0
CCE/6 Sigma Training $0 $750 $1,000 $500 $1,000 $0
GEMI TQEM Sustainability Initiatives $0 $0 $1,000 $500 $1,000 $0
Total Expenditures $4,800 $3,750 $10,000 $5,000 $11,000 $0

Cumulative Impacts
Material Cost Reduction 11.34% 0.48% 11.80% 0.88% 11.18% 11.27%
Labor Cost Reduction 13.61% 1.98% 14.00% 2.05% 11.65% 11.72%
Reduction R&D Cycle Time 40.01% 40.01% 40.01% 20.24% 40.01% 40.01%
Reduction Admin Costs 60.02% 54.41% 60.02% 11.55% 58.66% 60.02%
Demand Increase 14.32% 10.37% 14.40% 5.41% 13.74% 14.02%

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: 7
C112348 Dec. 31, 2026
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: 7
Annual Report Erie C112348
Dec. 31, 2026
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2026 2025
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 $45,013 23.6% $54,207
current value of your inventory across all products. A zero
Account Receivable $23,181 12.1% $24,359
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $10,604 5.6% $10,386
Equipment: The current value of your plant. Accum Total Current Assets $78,798 41.3% $88,952
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $221,500 116.0% $207,440
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($109,296) -57.2% ($102,272)
of operations. It includes emergency loans used to keep Total Fixed Assets $112,204 58.7% $105,168
your company solvent should you run out of cash during Total Assets $191,002 100.0% $194,121
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 $14,184 7.4% $11,277
instead of paying to shareholders as dividends.
Current Debt $0 0.0% $20,850
Long Term Debt $84,135 44.0% $68,893
Total Liabilities $98,319 51.5% $101,020

Common Stock $39,529 20.7% $43,252

Retained Earnings $53,154 27.8% $49,849
Total Equity $92,683 48.5% $93,101
Total Liab. & O. Equity $191,002 100.0% $194,121

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2026 2025
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $26,174 $12,182
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $14,767 $13,829
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs ($2,884) $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable $2,907 ($546)
are bad and you find yourself carrying an abundance of excess inventory,
Inventory ($218) $3,369
the report would show the increase in inventory as a huge negative cash
Accounts Receivable $1,178 ($2,243)
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 $41,924 $26,592
afloat. Cash Flows from Investing Activities
Plant Improvements ($18,918) ($24,900)
Cash Flows from Financing Activities
Dividends paid ($18,578) ($15,400)
Sales of common stock $0 $8,420
Purchase of common stock ($8,014) ($7,144)
Cash from long term debt $15,242 $21,042
Retirement of long term debt $0 ($20,850)
Change in current debt(net) ($20,850) $20,850
Net cash from financing activities ($32,200) $6,918
Net change in cash position ($9,194) $8,610
Closing cash position $45,013 $54,207

Annual Report Page 14

 Round: 7
Annual Report Erie C112348
Dec. 31, 2026
2026 Income Statement
2026 Common
(Product Name) Eat Ebb Echo Edge Egg Elliot
Total
Size
Sales $52,423 $46,831 $64,176 $46,001 $48,255 $24,350 $0 $0 $282,037 100.0%
Variable Costs:
Direct Labor $11,062 $10,055 $19,519 $10,661 $11,231 $7,723 $0 $0 $70,252 24.9%
Direct Material $18,422 $15,962 $23,035 $18,525 $16,587 $9,568 $0 $0 $102,100 36.2%
Inventory Carry $44 $79 $70 $471 $583 $26 $0 $0 $1,273 0.5%
Total Variable $29,528 $26,096 $42,624 $29,658 $28,400 $17,318 $0 $0 $173,624 61.6%
Contribution Margin $22,895 $20,735 $21,552 $16,344 $19,855 $7,033 $0 $0 $108,413 38.4%
Period Costs:
Depreciation $3,800 $4,753 $1,647 $1,800 $1,900 $867 $0 $0 $14,767 5.2%
SG&A: R&D $860 $789 $753 $682 $682 $645 $0 $0 $4,410 1.6%
Promotions $1,750 $1,750 $900 $1,350 $1,300 $1,150 $0 $0 $8,200 2.9%
Sales $3,380 $4,225 $3,380 $2,535 $1,690 $1,690 $0 $0 $16,900 6.0%
Admin $561 $502 $687 $493 $517 $261 $0 $0 $3,020 1.1%
Total Period $10,351 $12,019 $7,367 $6,859 $6,089 $4,612 $0 $0 $47,297 16.8%
Net Margin $12,544 $8,716 $14,185 $9,484 $13,766 $2,421 $0 $0 $61,116 21.7%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $8,998 3.2%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $52,118 18.5%
straight-line. 15-year depreciation of plant value. R&D Costs: R&D department expenditures for each Short Term Interest $0 0.0%
product. Admin: Administration overhead is estimated at 1.5% of sales. Promotions: The promotion budget Long Term Interest $10,944 3.9%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $14,411 5.1%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $589 0.2%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $26,174 9.3%
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