Round: 1

Dec. 31, C133484

2022
Andrews Baldwin Chester
Naman Arora Pallavi Chakraborty Kanika Agrawal
Varun Bhalla Jitesh Gupta Bhumika Bhatia
Himanshu Parakh Vinay M Maharaj Prateek Bichpuriya
Sai Avanthika Revan Ayush Mishra SOURAV MORE
Aswin Shaji Shivani Prakash Priyanshu Tiwari

Digby Erie Ferris

Khushi Agarwal Gunjan Agarwal
Rashi Chhaparwal Aman Gahlot
Febina K Maitry Joshi
Kunal Pagey Ritesh Kumar
Akshay S Jayaraj Sushant Yadav
SREERAM THEJAS

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 1.5% 0.9% 0.6% 3.5% -2.5% 3.7%
Asset Turnover 1.03 1.06 1.06 1.17 1.01 1.15
ROA 1.6% 1.0% 0.6% 4.2% -2.5% 4.3%
Leverage 1.9 2.0 2.2 1.9 2.3 2.0
ROE 3.0% 2.0% 1.3% 7.9% -5.8% 8.5%
Emergency Loan $0 $0 $3,545,326 $0 $8,012,852 $0
Sales $125,206,111 $125,211,255 $134,548,168 $116,933,549 $105,343,868 $110,324,057
EBIT $9,345,230 $8,299,082 $8,728,858 $11,705,953 $2,401,805 $11,425,364
Profits $1,926,020 $1,187,643 $747,757 $4,149,611 ($2,627,570) $4,081,891
Cumulative Profit $6,260,624 $5,522,247 $5,082,361 $8,484,214 $1,707,033 $8,416,494
SG&A / Sales 18.3% 18.8% 17.4% 15.8% 20.9% 18.1%
Contrib. Margin % 32.5% 33.3% 31.6% 32.4% 31.2% 34.8%

CAPSTONE ® COURIER Page 1

 Round: 1
Stock & Bonds C133484 Dec. 31, 2022
Stock Market Summary
MarketCap Book Value
Company Close Change Shares EPS Dividend Yield P/E
($M) Per Share
Andrews $35.34 $0.79 2,400,000 $85 $26.60 $0.80 $0.00 0.0% 44.0
Baldwin $33.87 ($0.68) 2,318,417 $79 $26.00 $0.51 $0.00 0.0% 66.0
Chester $29.53 ($5.02) 2,231,576 $66 $25.47 $0.34 $0.00 0.0% 87.9
Digby $38.68 $4.13 2,000,000 $77 $26.12 $2.07 $0.00 0.0% 18.6
Erie $21.12 ($13.43) 2,000,000 $42 $22.73 ($1.31) $0.00 0.0% -16.1
Ferris $38.52 $3.97 2,000,000 $77 $24.02 $2.04 $2.06 5.4% 18.9

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
11.0S2023 $6,950,000 11.0% 99.55 B 11.0S2023 $6,950,000 11.0% 99.55 B
12.5S2025 $13,900,000 12.2% 102.42 B 12.5S2025 $13,900,000 12.2% 102.42 B
12.9S2027 $20,850,000 12.3% 105.11 B 12.9S2027 $20,850,000 12.3% 105.11 B
11.3S2032 $10,000,000 11.4% 98.85 B Erie
Baldwin 11.0S2023 $6,950,000 11.1% 98.75 CCC
11.0S2023 $6,950,000 11.1% 99.46 B 12.5S2025 $13,900,000 12.5% 100.24 CCC
12.5S2025 $13,900,000 12.2% 102.18 B 12.9S2027 $20,850,000 12.7% 101.78 CCC
12.9S2027 $20,850,000 12.3% 104.73 B Ferris
11.3S2032 $11,000,000 11.5% 98.28 B 12.5S2025 $9,625,722 12.3% 101.93 B
Chester 12.9S2027 $20,850,000 12.4% 104.36 B
11.0S2023 $6,950,000 11.1% 98.84 CCC
12.5S2025 $13,900,000 12.4% 100.48 CCC
12.9S2027 $20,850,000 12.6% 102.15 CCC
11.3S2032 $16,000,000 12.0% 94.42 CCC

Next Year's Prime Rate7.50%

CAPSTONE ® COURIER Page 2
 Round: 1
Financial Summary C133484 Dec. 31, 2022
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $1,926 $1,188 $748 $4,150 ($2,628) $4,082
Adjustment for non-cash items:
Depreciation $6,797 $8,600 $9,187 $7,367 $8,413 $6,387
Extraordinary gains/losses/writeoffs $526 $60 $0 $312 $0 $516
Changes in current assets and liablilities
Accounts payable ($304) ($1,888) $2,083 ($658) $2,048 ($806)
Inventory $7,996 ($3,598) ($16,391) $6,701 $1,654 $651
Accounts Receivable ($1,984) ($3,699) ($2,751) ($1,304) ($4,680) ($760)
Net cash from operations $14,957 $662 ($7,125) $16,568 $4,807 $10,069

Cash flows from investing activities

Plant improvements(net) ($12,193) ($21,460) ($24,000) ($3,245) ($16,400) $9,740
Cash flows from financing activities
Dividends paid $0 $0 $0 $0 $0 ($4,127)
Sales of common stock $13,818 $11,000 $8,000 $0 $0 $0
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $10,000 $11,000 $16,000 $0 $0 $0
Early retirement of long term debt $0 $0 $0 $0 $0 ($11,347)
Retirement of current debt $0 $0 $0 $0 $0 $0
Cash from current debt borrowing $0 $0 $0 $0 $0 $11,359
Cash from emergency loan $0 $0 $3,545 $0 $8,013 $0

Net cash from financing activities $23,818 $22,000 $27,545 $0 $8,013 ($4,116)

Net change in cash position $26,583 $1,202 ($3,580) $13,323 ($3,580) $15,693
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $30,162 $4,782 $0 $16,902 $0 $19,273
Accounts Receivable $10,291 $12,007 $11,059 $9,611 $12,988 $9,068
Inventory $621 $12,216 $25,008 $1,916 $6,963 $7,966
Total Current Assets $41,075 $29,004 $36,067 $28,429 $19,951 $36,307

Plant and equipment $114,950 $134,000 $137,800 $110,500 $130,200 $95,800

Accumulated Depreciation ($34,213) ($45,333) ($47,120) ($39,067) ($46,347) ($36,453)
Total Fixed Assets $80,737 $88,667 $90,680 $71,433 $83,853 $59,347

Total Assets $121,811 $117,671 $126,747 $99,863 $103,804 $95,654

Accounts Payable $6,279 $4,695 $8,666 $5,925 $8,631 $5,777

Current Debt $0 $0 $3,545 $0 $8,013 $11,359
Total Current Liabilities $6,279 $4,695 $12,211 $5,925 $16,644 $17,136

Long Term Debt $51,700 $52,700 $57,700 $41,700 $41,700 $30,476

Total Liabilities $57,979 $57,395 $69,911 $47,625 $58,344 $47,611

Common Stock $32,178 $29,360 $26,360 $18,360 $18,360 $18,360

Retained Earnings $31,654 $30,916 $30,476 $33,878 $27,101 $29,683
Total Equity $63,832 $60,276 $56,836 $52,238 $45,460 $48,042

Total Liabilities & Owners Equity $121,811 $117,671 $126,747 $99,863 $103,804 $95,654

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $125,206 $125,211 $134,548 $116,934 $105,344 $110,324
Variable Costs(Labor,Material,Carry) $84,465 $83,551 $92,048 $79,020 $72,495 $71,894
Contribution Margin $40,741 $41,660 $42,500 $37,914 $32,849 $38,430
Depreciation $6,797 $8,600 $9,187 $7,367 $8,413 $6,387
SGA(R&D,Promo,Sales,Admin) $22,882 $23,601 $23,385 $18,530 $22,034 $19,932
Other(Fees,Writeoffs,TQM,Bonuses) $1,717 $1,160 $1,200 $312 $0 $686
EBIT $9,345 $8,299 $8,729 $11,706 $2,402 $11,425
Interest(Short term,Long term) $6,322 $6,435 $7,555 $5,192 $6,444 $5,017
Taxes $1,058 $653 $411 $2,280 ($1,415) $2,243
Profit Sharing $39 $24 $15 $85 $0 $83
Net Profit $1,926 $1,188 $748 $4,150 ($2,628) $4,082
CAPSTONE ® COURIER Page 3
 Round: 1
Production Analysis C133484 Dec. 31, 2022

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 1,220 0 5/12/2022 2.4 15000 5.6 14.3 $28.99 $10.20 $7.99 35% 4% 5.5 1,000 103%
Acre Low 2,099 0 1/29/2022 5.6 12000 2.8 17.1 $20.50 $6.45 $7.77 29% 49% 6.5 1,400 147%
Adam High 483 17 9/27/2022 1.5 23000 8.7 11.2 $39.50 $15.76 $8.97 38% 0% 4.0 500 92%
Aft Pfmn 419 0 8/24/2022 1.9 27000 10.2 15.4 $34.00 $16.13 $8.97 27% 0% 4.0 375 91%
Agape Size 391 9 9/15/2022 1.9 20000 4.4 10.1 $34.50 $13.74 $8.97 35% 0% 4.0 450 75%
Aston 0 0 11/3/2023 0.0 0 0.0 0.0 $0.00 $0.00 $0.00 0% 0% 5.0 500 0%

Baker Trad 1,324 129 4/15/2022 2.4 14500 5.3 14.5 $29.00 $9.80 $7.79 36% 0% 5.0 1,800 70%
Bead Low 1,671 562 1/29/2022 5.6 12000 2.8 17.1 $21.00 $6.45 $7.83 28% 57% 6.0 1,600 157%
Bid High 508 9 6/30/2022 1.6 24000 8.4 11.5 $40.00 $15.76 $8.91 38% 0% 3.0 800 60%
Bold Pfmn 464 42 3/4/2022 2.2 26000 9.3 15.6 $35.00 $15.18 $8.91 29% 0% 3.0 600 71%
Buddy Size 433 19 3/20/2022 2.2 19000 3.8 10.7 $35.00 $12.87 $8.91 36% 0% 3.0 500 78%
Black 0 0 3/18/2023 0.0 0 0.0 0.0 $0.00 $0.00 $0.00 0% 0% 1.0 500 0%

Cake Trad 1,667 305 3/24/2022 2.4 19000 5.3 14.5 $28.99 $11.15 $7.85 32% 0% 5.0 1,800 99%
Cedar Low 1,695 324 1/29/2022 5.6 12000 2.8 17.1 $21.99 $6.45 $7.68 33% 43% 8.0 1,400 141%
Cid High 397 238 12/12/2022 1.4 25000 9.0 11.2 $39.45 $16.52 $8.97 34% 0% 3.0 900 66%
Coat Pfmn 516 156 5/3/2022 2.1 27000 9.7 15.6 $34.49 $15.74 $8.97 26% 0% 3.0 600 99%
Cure Size 443 213 7/1/2022 2.0 21000 4.2 10.4 $34.99 $13.78 $8.97 32% 0% 3.0 600 99%

Daze Trad 1,190 0 4/17/2022 2.4 16000 5.5 14.3 $27.50 $10.45 $7.85 32% 0% 5.0 1,400 72%
Dell Low 1,780 90 5/25/2017 5.6 14000 2.8 17.1 $22.00 $7.05 $7.50 32% 32% 6.0 1,400 131%
Duck High 448 23 9/12/2022 1.5 23000 8.8 11.3 $39.00 $15.76 $8.97 37% 0% 4.0 550 78%
Dot Pfmn 409 0 4/27/2022 2.1 26000 9.6 15.2 $34.00 $15.50 $8.97 27% 0% 4.0 500 66%
Dune Size 396 0 7/7/2022 2.0 19000 4.2 10.2 $34.50 $13.31 $8.97 35% 0% 3.0 500 67%

Eat Trad 1,117 189 8/23/2022 2.2 18200 6.0 13.8 $29.00 $11.62 $8.04 32% 0% 5.0 1,800 62%
Ebb Low 1,613 0 5/25/2017 5.6 14000 2.8 17.1 $20.50 $7.05 $7.35 28% 16% 5.0 1,600 112%
Echo High 479 0 10/17/2022 1.4 25000 8.7 11.2 $39.50 $16.36 $9.19 37% 0% 3.0 900 49%
Edge Pfmn 340 32 10/31/2022 1.8 26000 10.4 14.9 $34.50 $16.11 $9.19 28% 0% 3.0 600 49%
Egg Size 268 113 11/29/2022 1.8 19000 4.5 9.7 $34.50 $13.73 $9.19 32% 0% 3.0 600 53%
Etc 0 0 10/4/2023 0.0 0 0.0 0.0 $0.00 $0.00 $0.00 0% 0% 1.0 400 0%

Fast Trad 1,390 86 3/3/2022 2.5 17500 5.4 14.6 $29.50 $10.70 $7.85 35% 0% 4.0 1,300 99%
Feat Low 1,567 7 1/29/2022 5.6 12000 2.8 17.1 $22.00 $6.45 $7.03 37% 11% 5.0 1,400 110%
Fist High 364 122 12/8/2022 1.4 25000 8.9 11.1 $39.50 $16.51 $9.44 35% 13% 4.0 400 111%
Foam Pfmn 332 42 11/21/2022 1.8 26000 10.5 14.9 $34.50 $16.18 $8.97 28% 0% 4.0 500 59%
Fume Size 261 99 12/14/2022 1.8 19000 4.9 9.9 $34.50 $13.72 $8.97 33% 0% 4.0 500 59%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C133484 Round: 1
Dec. 31, 2022

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 |4.7%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $19.50 - 29.50 23%
3. Ideal Position Pfmn 5.5 Size 14.4 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
Cake 20% 1,590 3/24/2022 5.3 14.5 $28.99 19000 2.43 $2,000 82% $2,000 67% 44
Fast 17% 1,351 3/3/2022 5.4 14.6 $29.50 17500 2.46 $1,600 75% $1,650 63% 37
Baker 16% 1,296 4/15/2022 5.3 14.5 $29.00 14500 2.40 $1,400 70% $3,000 71% 38
Able 15% 1,194 5/12/2022 YES 5.6 14.3 $28.99 15000 2.37 $1,700 77% $2,250 70% 39
Daze 14% 1,157 4/17/2022 YES 5.5 14.3 $27.50 16000 2.40 $1,250 66% $2,000 67% 39
Eat 13% 1,057 8/23/2022 6.0 13.8 $29.00 18200 2.22 $1,700 77% $2,000 67% 44
Dell 1% 92 5/25/2017 2.8 17.1 $22.00 14000 5.60 $1,300 65% $2,000 67% 1
Ebb 1% 86 5/25/2017 YES 2.8 17.1 $20.50 14000 5.60 $1,700 75% $2,000 67% 1
Acre 1% 73 1/29/2022 YES 2.8 17.1 $20.50 12000 5.60 $1,600 73% $2,650 70% 1
Cedar 1% 60 1/29/2022 2.8 17.1 $21.99 12000 5.60 $2,000 80% $2,000 67% 0
Bead 1% 57 1/29/2022 2.8 17.1 $21.00 12000 5.60 $500 41% $2,000 71% 0
Feat 1% 56 1/29/2022 2.8 17.1 $22.00 12000 5.60 $1,600 73% $1,732 63% 0

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C133484 Round: 1
Dec. 31, 2022

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 |6.2%

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 2.0 Size 17.9 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 20% 2,027 1/29/2022 YES 2.8 17.1 $20.50 12000 5.60 $1,600 73% $2,650 56% 22
Dell 17% 1,689 5/25/2017 2.8 17.1 $22.00 14000 5.60 $1,300 65% $2,000 50% 16
Cedar 16% 1,635 1/29/2022 2.8 17.1 $21.99 12000 5.60 $2,000 80% $2,000 49% 16
Bead 16% 1,614 1/29/2022 2.8 17.1 $21.00 12000 5.60 $500 41% $2,000 49% 15
Ebb 15% 1,527 5/25/2017 YES 2.8 17.1 $20.50 14000 5.60 $1,700 75% $2,000 49% 23
Feat 15% 1,511 1/29/2022 2.8 17.1 $22.00 12000 5.60 $1,600 73% $1,732 45% 15
Cake 0% 3 3/24/2022 5.3 14.5 $28.99 19000 2.43 $2,000 82% $2,000 49% 0
Baker 0% 2 4/15/2022 5.3 14.5 $29.00 14500 2.40 $1,400 70% $3,000 49% 0
Eat 0% 1 8/23/2022 6.0 13.8 $29.00 18200 2.22 $1,700 77% $2,000 49% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C133484 Round: 1
Dec. 31, 2022

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 |8.9%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 9.6 Size 10.3 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 17% 508 6/30/2022 8.4 11.5 $40.00 24000 1.60 $1,400 66% $3,000 66% 24
Adam 16% 483 9/27/2022 8.7 11.2 $39.50 23000 1.48 $1,650 72% $2,000 62% 28
Echo 16% 479 10/17/2022 YES 8.7 11.2 $39.50 25000 1.45 $1,500 68% $2,000 61% 36
Duck 15% 448 9/12/2022 8.8 11.3 $39.00 23000 1.50 $1,300 63% $1,800 58% 26
Cid 13% 397 12/12/2022 9.0 11.2 $39.45 25000 1.37 $2,000 77% $2,000 62% 40
Fist 12% 364 12/8/2022 8.9 11.1 $39.50 25000 1.38 $1,500 68% $1,732 58% 37
Dot 2% 59 4/27/2022 YES 9.6 15.2 $34.00 26000 2.09 $1,500 66% $1,500 58% 2
Bold 1% 37 3/4/2022 9.3 15.6 $35.00 26000 2.16 $1,500 66% $3,000 66% 0
Eat 1% 30 8/23/2022 6.0 13.8 $29.00 18200 2.22 $1,700 77% $2,000 61% 2
Edge 1% 29 10/31/2022 10.4 14.9 $34.50 26000 1.83 $1,000 52% $1,900 61% 1
Cake 1% 27 3/24/2022 5.3 14.5 $28.99 19000 2.43 $2,000 82% $2,000 62% 0
Foam 1% 27 11/21/2022 10.5 14.9 $34.50 26000 1.80 $1,400 64% $1,567 58% 1

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C133484 Round: 1
Dec. 31, 2022

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 |12.2%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 10.2 Size 15.4 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
Coat 22% 499 5/3/2022 9.7 15.6 $34.49 27000 2.08 $2,000 75% $2,000 48% 41
Bold 19% 427 3/4/2022 9.3 15.6 $35.00 26000 2.16 $1,500 66% $3,000 55% 29
Aft 17% 396 8/24/2022 YES 10.2 15.4 $34.00 27000 1.92 $1,300 61% $1,900 46% 40
Dot 15% 350 4/27/2022 YES 9.6 15.2 $34.00 26000 2.09 $1,500 66% $1,500 41% 30
Edge 14% 311 10/31/2022 10.4 14.9 $34.50 26000 1.83 $1,000 52% $1,900 46% 31
Foam 13% 305 11/21/2022 10.5 14.9 $34.50 26000 1.80 $1,400 64% $1,567 41% 30
Cake 0% 3 3/24/2022 5.3 14.5 $28.99 19000 2.43 $2,000 82% $2,000 48% 0
Eat 0% 1 8/23/2022 6.0 13.8 $29.00 18200 2.22 $1,700 77% $2,000 46% 0
Fast 0% 1 3/3/2022 5.4 14.6 $29.50 17500 2.46 $1,600 75% $1,650 41% 0

CAPSTONE ® COURIER Page 8

Size Segment Analysis C133484 Round: 1
Dec. 31, 2022

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 |9.9%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 4.5 Size 9.7 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
Cure 19% 442 7/1/2022 4.2 10.4 $34.99 21000 2.05 $2,000 75% $2,000 53% 39
Buddy 18% 433 3/20/2022 3.8 10.7 $35.00 19000 2.19 $1,500 66% $3,000 61% 24
Dune 17% 396 7/7/2022 YES 4.2 10.2 $34.50 19000 2.04 $1,400 64% $1,500 49% 35
Agape 17% 391 9/15/2022 4.4 10.1 $34.50 20000 1.94 $1,300 61% $2,000 55% 45
Egg 11% 267 11/29/2022 4.5 9.7 $34.50 19000 1.84 $1,000 52% $1,900 54% 44
Fume 11% 260 12/14/2022 4.9 9.9 $34.50 19000 1.82 $1,400 64% $1,567 49% 40
Cake 2% 44 3/24/2022 5.3 14.5 $28.99 19000 2.43 $2,000 82% $2,000 53% 1
Eat 1% 27 8/23/2022 6.0 13.8 $29.00 18200 2.22 $1,700 77% $2,000 54% 3
Daze 1% 25 4/17/2022 YES 5.5 14.3 $27.50 16000 2.40 $1,250 66% $2,000 49% 1
Baker 1% 21 4/15/2022 5.3 14.5 $29.00 14500 2.40 $1,400 70% $3,000 61% 1
Fast 1% 20 3/3/2022 5.4 14.6 $29.50 17500 2.46 $1,600 75% $1,650 49% 0
Able 1% 20 5/12/2022 YES 5.6 14.3 $28.99 15000 2.37 $1,700 77% $2,250 55% 1

CAPSTONE ® COURIER Page 9

 Round: 1
Market Share C133484 Dec. 31, 2022

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 14.8% 0.2% 0.8% 4.8% Able 14.5% 0.2% 0.8% 4.7%
Acre 0.9% 20.3% 8.2% Acre 0.9% 20.4% 8.3%
Adam 16.3% 1.9% Adam 16.0% 1.9%
Aft 0.8% 17.3% 1.6% Aft 0.8% 17.2% 1.6%
Agape 16.6% 1.5% Agape 16.3% 1.5%
Total 15.7% 20.3% 17.2% 17.3% 17.5% 18.0% Total 15.5% 20.4% 17.0% 17.2% 17.1% 17.9%

Baker 16.1% 0.1% 0.9% 5.1% Baker 15.7% 0.9% 5.0%

Bead 0.7% 16.1% 6.5% Bead 0.7% 14.4% 5.8%
Bid 17.1% 2.0% Bid 17.7% 2.0%
Bold 1.3% 18.6% 1.8% Bold 1.3% 18.2% 1.8%
Buddy 18.4% 1.7% Buddy 19.4% 1.8%
Total 16.8% 16.1% 18.5% 18.6% 19.4% 17.1% Total 16.4% 14.4% 19.1% 18.2% 20.3% 16.4%

Cake 19.7% 0.9% 0.1% 1.9% 6.5% Cake 19.2% 0.9% 1.8% 6.3%
Cedar 0.7% 16.3% 6.6% Cedar 0.7% 14.5% 5.9%
Cid 13.4% 1.6% Cid 13.3% 1.5%
Coat 0.6% 21.7% 2.0% Coat 0.6% 21.2% 2.0%
Cure 18.9% 1.7% Cure 18.4% 1.7%
Total 20.4% 16.4% 14.9% 21.9% 20.7% 18.4% Total 19.9% 14.6% 14.8% 21.3% 20.3% 17.4%

Daze 14.3% 0.2% 1.1% 4.6% Daze 15.9% 0.2% 1.2% 5.1%
Dell 1.1% 16.9% 6.9% Dell 1.1% 15.0% 6.2%
Duck 15.1% 1.7% Duck 14.9% 1.7%
Dot 2.0% 15.3% 1.6% Dot 2.2% 16.8% 1.8%
Dune 16.9% 1.5% Dune 17.1% 1.6%
Total 15.5% 16.9% 17.3% 15.3% 17.9% 16.4% Total 17.0% 15.0% 17.3% 16.8% 18.3% 16.4%

Eat 13.1% 1.0% 1.2% 4.3% Eat 12.7% 1.0% 1.1% 4.2%
Ebb 1.1% 15.3% 6.3% Ebb 1.5% 22.2% 9.1%
Echo 16.2% 1.9% Echo 16.1% 1.9%
Edge 1.0% 13.6% 1.3% Edge 1.0% 13.3% 1.3%
Egg 11.4% 1.0% Egg 11.2% 1.0%
Total 14.2% 15.3% 18.1% 13.6% 12.6% 14.9% Total 14.2% 22.2% 18.1% 13.3% 12.3% 17.5%

Fast 16.7% 0.6% 0.9% 5.4% Fast 16.3% 0.6% 0.9% 5.3%
Feat 0.7% 15.1% 6.1% Feat 0.7% 13.4% 5.5%
Fist 12.3% 1.4% Fist 12.2% 1.4%
Foam 0.9% 13.3% 1.3% Foam 0.9% 13.0% 1.3%
Fume 11.1% 1.0% Fume 10.9% 1.0%
Total 17.4% 15.1% 13.8% 13.4% 11.9% 15.2% Total 17.0% 13.4% 13.7% 13.1% 11.7% 14.4%

CAPSTONE ® COURIER Page 10

 Round: 1
Perceptual Map C133484 Dec. 31, 2022

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 5.6 14.3 5/12/2022 Baker 5.3 14.5 4/15/2022 Cake 5.3 14.5 3/24/2022
Acre 2.8 17.1 1/29/2022 Bead 2.8 17.1 1/29/2022 Cedar 2.8 17.1 1/29/2022
Adam 8.7 11.2 9/27/2022 Bid 8.4 11.5 6/30/2022 Cid 9.0 11.2 12/12/2022
Aft 10.2 15.4 8/24/2022 Bold 9.3 15.6 3/4/2022 Coat 9.7 15.6 5/3/2022
Agape 4.4 10.1 9/15/2022 Buddy 3.8 10.7 3/20/2022 Cure 4.2 10.4 7/1/2022

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 5.5 14.3 4/17/2022 Eat 6.0 13.8 8/23/2022 Fast 5.4 14.6 3/3/2022
Dell 2.8 17.1 5/25/2017 Ebb 2.8 17.1 5/25/2017 Feat 2.8 17.1 1/29/2022
Duck 8.8 11.3 9/12/2022 Echo 8.7 11.2 10/17/2022 Fist 8.9 11.1 12/8/2022
Dot 9.6 15.2 4/27/2022 Edge 10.4 14.9 10/31/2022 Foam 10.5 14.9 11/21/2022
Dune 4.2 10.2 7/7/2022 Egg 4.5 9.7 11/29/2022 Fume 4.9 9.9 12/14/2022

CAPSTONE ® COURIER Page 11

 Round: 1
HR/TQM Report C133484 Dec. 31, 2022
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 696 780 937 650 638 644
Complement 696 780 937 650 638 644
1st Shift Complement 591 665 851 585 605 613
2nd Shift Complement 105 115 86 65 33 31
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 70 158 331 65 64 64
Separated Employees 4 0 0 50 62 56
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 $70 $158 $331 $65 $64 $64
Separation Cost $20 $0 $0 $250 $310 $280
Training Cost $0 $0 $0 $0 $0 $0
Total HR Admin Cost $90 $158 $331 $315 $374 $344
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


Ethics Report
Other (Fees, Writeoffs, etc.)
Demand Factor
Material Cost Impact
Admin Cost Impact
Productivity Impact
Awareness Impact
Accessibility Impact
Round: 1
C133484 Dec. 31, 2022
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: 1
Annual Report Andrews C133484
Dec. 31, 2022
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2022 2021
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 $30,162 24.8% $3,580
current value of your inventory across all products. A zero
Account Receivable $10,291 8.4% $8,307
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $621 0.5% $8,617
Equipment: The current value of your plant. Accum Total Current Assets $41,074 33.7% $20,504
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $114,950 94.4% $113,800
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($34,213) -28.1% ($37,933)
of operations. It includes emergency loans used to keep Total Fixed Assets $80,737 66.3% $75,867
your company solvent should you run out of cash during Total Assets $121,811 100.0% $96,371
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 $6,279 5.2% $6,583
instead of paying to shareholders as dividends.
Current Debt $0 0.0% $0
Long Term Debt $51,700 42.4% $41,700
Total Liabilities $57,979 47.6% $48,283

Common Stock $32,178 26.4% $18,360

Retained Earnings $31,654 26.0% $29,728
Total Equity $63,832 52.4% $48,088
Total Liab. & O. Equity $121,811 100.0% $96,371

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2022 2021
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $1,926 $4,335
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $6,797 $7,587
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs $526 $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable ($304) $3,583
are bad and you find yourself carrying an abundance of excess inventory,
Inventory $7,996 ($8,617)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($1,984) ($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 $14,957 $6,580
afloat. Cash Flows from Investing Activities
Plant Improvements ($12,193) $0
Cash Flows from Financing Activities
Dividends paid $0 ($4,000)
Sales of common stock $13,818 $0
Purchase of common stock $0 $0
Cash from long term debt $10,000 $0
Retirement of long term debt $0 $0
Change in current debt(net) $0 $0
Net cash from financing activities $23,818 ($4,000)
Net change in cash position $26,583 $2,580
Closing cash position $30,162 $3,580

Annual Report Page 14

 Round: 1
Annual Report Andrews C133484
Dec. 31, 2022
2022 Income Statement
2022 Common
(Product Name) Able Acre Adam Aft Agape Aston
Total
Size
Sales $35,359 $43,038 $19,063 $14,253 $13,493 $0 $0 $0 $125,206 100.0%
Variable Costs:
Direct Labor $9,656 $16,282 $4,313 $3,728 $3,483 $0 $0 $0 $37,462 29.9%
Direct Material $13,287 $14,215 $7,534 $6,635 $5,258 $0 $0 $0 $46,929 37.5%
Inventory Carry $0 $0 $51 $0 $24 $0 $0 $0 $75 0.1%
Total Variable $22,943 $30,496 $11,897 $10,364 $8,765 $0 $0 $0 $84,465 67.5%
Contribution Margin $12,416 $12,542 $7,166 $3,889 $4,728 $0 $0 $0 $40,741 32.5%
Period Costs:
Depreciation $1,867 $2,987 $733 $550 $660 $0 $0 $0 $6,797 5.4%
SG&A: R&D $367 $80 $749 $655 $715 $1,000 $0 $0 $3,566 2.8%
Promotions $1,700 $1,600 $1,650 $1,300 $1,300 $0 $0 $0 $7,550 6.0%
Sales $2,250 $2,650 $2,000 $1,900 $2,000 $0 $0 $0 $10,800 8.6%
Admin $273 $332 $147 $110 $104 $0 $0 $0 $966 0.8%
Total Period $6,456 $7,649 $5,280 $4,515 $4,779 $1,000 $0 $0 $29,679 23.7%
Net Margin $5,960 $4,893 $1,886 ($626) ($51) ($1,000) $0 $0 $11,062 8.8%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $1,717 1.4%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $9,345 7.5%
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 $6,322 5.0%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $1,058 0.8%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $39 0.0%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $1,926 1.5%
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