Round: 1

Dec. 31, C136952

2023
Andrews Baldwin Chester
Sejal Gupta Rushika Darbare
Shivendrasinh Rajga PRATYUSH KAMAL
Archit Roy Dipti Kulkarni
Amal Surendran SREEJANYA R
Dhananjay Verma Aditya Pratap Singh

Digby Erie Ferris

Saurabh Kumar Gupta Hriday Buyakar Shubham Garg
Sidhant Kumar Mridul Goenka Harsh Kumar
Rithish Lalam Nikhil Kendole Vibhav Kumar
Arvind Mehra Shivam kumar UDIT VERMA
Ishan Verma Vikash Kumar Nupur Vyas

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 4.5% 8.0% 3.2% 1.0% 4.9% -2.0%
Asset Turnover 1.18 1.22 1.06 1.00 1.01 0.72
ROA 5.3% 9.7% 3.4% 1.0% 5.0% -1.4%
Leverage 1.9 2.2 2.0 2.6 1.9 2.6
ROE 10.1% 21.5% 6.8% 2.6% 9.6% -3.8%
Emergency Loan $0 $0 $0 $27,071,237 $0 $28,064,675
Sales $119,983,329 $153,384,043 $103,344,851 $129,427,482 $102,876,300 $87,081,714
EBIT $13,890,471 $26,523,415 $10,688,632 $11,706,443 $13,388,182 $7,129,932
Profits $5,395,053 $12,234,117 $3,355,482 $1,302,694 $5,075,095 ($1,743,051)
Cumulative Profit $9,583,560 $16,422,624 $7,543,989 $5,491,201 $9,263,602 $2,445,457
SG&A / Sales 9.9% 10.2% 8.8% 7.9% 10.3% 10.8%
Contrib. Margin % 27.8% 32.6% 26.5% 22.9% 30.7% 30.2%

CAPSTONE ® COURIER Page 1

 Round: 1
Stock & Bonds C136952 Dec. 31, 2023
Stock Market Summary
MarketCap Book Value
Company Close Change Shares EPS Dividend Yield P/E
($M) Per Share
Andrews $40.95 $6.70 2,000,000 $82 $26.67 $2.70 $0.00 0.0% 15.2
Baldwin $54.63 $20.37 2,000,000 $109 $28.45 $6.12 $1.64 3.0% 8.9
Chester $36.87 $2.62 2,000,000 $74 $24.65 $1.68 $1.00 2.7% 22.0
Digby $19.24 ($15.01) 2,001,460 $39 $24.63 $0.65 $0.00 0.0% 29.5
Erie $40.31 $6.06 2,000,000 $81 $26.51 $2.54 $0.00 0.0% 15.9
Ferris $12.64 ($21.61) 2,000,000 $25 $23.10 ($0.87) $0.00 0.0% -14.5

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
11.0S2024 $6,950,000 11.0% 99.55 B 11.0S2024 $6,950,000 11.2% 98.32 CC
12.5S2026 $13,900,000 12.2% 102.42 B 12.5S2026 $13,900,000 12.6% 99.05 CC
14.0S2028 $20,850,000 12.8% 109.13 B 14.0S2028 $20,850,000 13.5% 103.88 CC
Baldwin Erie
11.0S2024 $5,883,091 11.1% 98.84 CCC 11.0S2024 $6,950,000 11.0% 99.55 B
12.5S2026 $13,900,000 12.4% 100.48 CCC 12.5S2026 $13,900,000 12.2% 102.42 B
14.0S2028 $20,850,000 13.2% 106.08 CCC 14.0S2028 $20,850,000 12.8% 109.13 B
Chester Ferris
11.0S2024 $6,950,000 11.1% 99.37 B 11.0S2024 $6,950,000 11.2% 98.32 CC
12.5S2026 $13,900,000 12.3% 101.93 B 12.5S2026 $13,900,000 12.6% 99.05 CC
14.0S2028 $20,850,000 12.9% 108.35 B 14.0S2028 $20,850,000 13.5% 103.88 CC

Next Year's Prime Rate7.50%

CAPSTONE ® COURIER Page 2
 Round: 1
Financial Summary C136952 Dec. 31, 2023
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $5,395 $12,234 $3,355 $1,303 $5,075 ($1,743)
Adjustment for non-cash items:
Depreciation $7,587 $7,553 $7,587 $7,757 $7,587 $9,755
Extraordinary gains/losses/writeoffs $0 $203 $0 $0 $0 $0
Changes in current assets and liablilities
Accounts payable $141 $1,693 ($205) $4,361 $99 ($1,168)
Inventory $4,340 $1,894 ($3,086) ($39,085) ($12,572) ($6,967)
Accounts Receivable ($1,554) ($4,300) ($187) ($2,330) ($148) $1,150
Net cash from operations $15,909 $19,278 $7,465 ($27,995) $41 $1,028

Cash flows from investing activities

Plant improvements(net) $0 ($3,875) $0 ($2,560) $0 ($32,526)
Cash flows from financing activities
Dividends paid $0 ($3,280) ($2,000) $0 $0 $0
Sales of common stock $0 $0 $0 $50 $0 $0
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $0 $0 $0 $0 $0 $0
Early retirement of long term debt $0 ($1,061) $0 $0 $0 $0
Retirement of current debt $0 $0 $0 $0 $0 $0
Cash from current debt borrowing $0 $20,343 $0 $0 $0 $0
Cash from emergency loan $0 $0 $0 $27,071 $0 $28,065

Net cash from financing activities $0 $16,001 ($2,000) $27,121 $0 $28,065

Net change in cash position $15,909 $31,404 $5,465 ($3,434) $41 ($3,434)
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $19,342 $34,838 $8,899 $0 $3,474 $0
Accounts Receivable $9,862 $12,607 $8,494 $10,638 $8,456 $7,157
Inventory $4,277 $6,723 $11,703 $47,703 $21,189 $15,584
Total Current Assets $33,481 $54,168 $29,096 $58,341 $33,119 $22,741

Plant and equipment $113,800 $113,300 $113,800 $116,360 $113,800 $146,326

Accumulated Depreciation ($45,520) ($41,320) ($45,520) ($45,691) ($45,520) ($47,688)
Total Fixed Assets $68,280 $71,980 $68,280 $70,669 $68,280 $98,638

Total Assets $101,761 $126,148 $97,376 $129,010 $101,399 $121,379

Accounts Payable $6,725 $8,276 $6,379 $10,944 $6,682 $5,416

Current Debt $0 $20,343 $0 $27,071 $0 $28,065
Total Current Liabilities $6,725 $28,619 $6,379 $38,015 $6,682 $33,481

Long Term Debt $41,700 $40,633 $41,700 $41,700 $41,700 $41,700

Total Liabilities $48,425 $69,252 $48,079 $79,716 $48,382 $75,180

Common Stock $18,360 $18,360 $18,360 $18,410 $18,360 $18,360

Retained Earnings $34,977 $38,536 $30,938 $30,885 $34,657 $27,839
Total Equity $53,337 $56,896 $49,297 $49,295 $53,017 $46,199

Total Liabilities & Owners Equity $101,761 $126,148 $97,376 $129,010 $101,399 $121,379

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $119,983 $153,384 $103,345 $129,427 $102,876 $87,082
Variable Costs(Labor,Material,Carry) $86,668 $103,390 $75,926 $99,794 $71,271 $60,793
Contribution Margin $33,315 $49,994 $27,419 $29,633 $31,605 $26,289
Depreciation $7,587 $7,553 $7,587 $7,757 $7,587 $9,755
SGA(R&D,Promo,Sales,Admin) $11,838 $15,699 $9,143 $10,167 $10,630 $9,404
Other(Fees,Writeoffs,TQM,Bonuses) $0 $219 $0 $3 $0 $0
EBIT $13,890 $26,523 $10,689 $11,706 $13,388 $7,130
Interest(Short term,Long term) $5,421 $7,318 $5,421 $9,661 $5,421 $9,812
Taxes $2,964 $6,722 $1,844 $716 $2,789 ($939)
Profit Sharing $110 $250 $68 $27 $104 $0
Net Profit $5,395 $12,234 $3,355 $1,303 $5,075 ($1,743)
CAPSTONE ® COURIER Page 3
 Round: 1
Production Analysis C136952 Dec. 31, 2023

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 1,295 83 8/19/2023 2.2 17500 6.0 13.5 $27.50 $11.42 $7.85 30% 0% 4.0 1,800 66%
Acre Low 2,019 0 6/13/2023 3.1 14000 3.5 16.5 $20.50 $7.56 $7.68 25% 43% 5.0 1,400 141%
Adam High 406 40 1/16/2024 2.7 23000 8.0 12.0 $37.50 $14.84 $8.97 35% 0% 3.0 900 45%
Aft Pfmn 442 71 6/29/2020 3.5 25000 9.4 15.5 $32.00 $14.81 $8.97 23% 0% 3.0 600 73%
Agape Size 439 0 8/6/2023 2.0 19000 5.0 10.5 $31.00 $13.24 $8.97 28% 0% 3.0 600 63%

Baker Trad 1,826 145 3/10/2023 2.5 17000 5.4 14.5 $29.50 $10.45 $8.26 35% 13% 5.0 1,600 111%
Bead Low 2,168 0 5/25/2018 5.6 14000 3.0 17.0 $21.50 $7.05 $7.84 29% 54% 6.0 1,400 152%
Bid High 536 98 12/25/2023 1.4 23500 9.2 10.8 $39.50 $16.22 $10.03 34% 33% 3.0 450 132%
Bold Pfmn 429 45 8/25/2023 1.9 22500 9.1 14.5 $34.50 $14.21 $8.97 29% 0% 3.0 600 66%
Buddy Size 491 17 8/6/2023 2.0 19000 5.1 11.2 $34.50 $12.83 $8.97 36% 0% 3.0 600 74%

Cake Trad 900 477 11/21/2019 4.1 17500 5.5 14.5 $26.50 $10.65 $7.85 24% 0% 4.0 1,800 66%
Cedar Low 1,841 0 5/25/2018 5.6 14000 3.0 17.0 $20.00 $7.05 $7.46 26% 30% 5.0 1,400 129%
Cid High 412 35 4/19/2021 2.7 23000 8.0 12.0 $37.00 $14.84 $8.97 34% 0% 3.0 900 45%
Coat Pfmn 513 0 2/23/2023 2.2 25000 9.2 15.5 $32.00 $14.68 $8.97 25% 0% 3.0 600 73%
Cure Size 356 83 5/24/2020 3.6 19000 4.0 11.0 $31.00 $12.60 $8.97 27% 0% 3.0 600 63%

Daze Trad 1,520 1,838 5/16/2023 2.4 17500 6.0 14.0 $28.00 $11.16 $9.47 15% 78% 4.2 1,800 176%
Dell Low 2,242 371 6/7/2023 3.1 14000 3.5 16.5 $21.00 $7.56 $8.20 23% 86% 5.2 1,400 184%
Duck High 400 46 4/19/2021 2.7 23000 8.0 12.0 $38.00 $14.84 $8.97 35% 0% 3.0 900 45%
Dot Pfmn 419 6 6/29/2020 3.5 25000 9.4 15.5 $33.00 $14.81 $8.97 26% 0% 3.0 600 58%
Dune Size 327 112 5/24/2020 3.6 19000 4.0 11.0 $33.00 $12.60 $8.97 31% 0% 3.0 600 63%

Eat Trad 761 814 4/19/2023 2.4 18000 5.5 15.0 $32.00 $10.55 $7.85 34% 0% 4.0 1,800 77%
Ebb Low 1,841 0 3/7/2024 5.6 14000 3.0 17.0 $21.00 $7.05 $7.46 29% 30% 5.0 1,400 129%
Echo High 402 44 4/19/2021 2.7 23000 8.0 12.0 $38.00 $14.84 $8.97 35% 0% 3.0 900 45%
Edge Pfmn 419 95 6/29/2020 3.5 25000 9.4 15.5 $33.00 $14.81 $8.97 25% 0% 3.0 600 73%
Egg Size 326 112 5/24/2020 3.6 19000 4.0 11.0 $33.00 $12.60 $8.97 31% 0% 3.0 600 63%

Fast Trad 769 410 11/21/2019 4.1 17500 5.5 14.5 $28.00 $10.65 $7.85 28% 0% 4.0 2,313 55%
Feat Low 1,227 0 5/25/2018 5.6 14000 3.0 17.0 $21.00 $7.05 $6.73 33% 0% 5.0 1,913 85%
Fist High 400 135 4/19/2021 2.7 23000 8.0 12.0 $38.00 $14.84 $8.97 34% 0% 3.0 1,113 55%
Foam Pfmn 419 85 6/29/2020 3.5 25000 9.4 15.5 $33.00 $14.81 $8.97 25% 0% 3.0 713 71%
Fume Size 327 112 5/24/2020 3.6 19000 4.0 11.0 $33.00 $12.60 $8.97 31% 0% 3.0 713 63%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C136952 Round: 1
Dec. 31, 2023

Traditional Statistics
Total Industry Unit Demand 8,119
Actual Industry Unit Sales |8,119
Segment % of Total Industry |31.4%

Next Year's Segment Growth Rate |8.1%

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
Baker 22% 1,769 3/10/2023 5.4 14.5 $29.50 17000 2.45 $1,300 67% $1,362 58% 33
Daze 18% 1,446 5/16/2023 6.0 14.0 $28.00 17500 2.36 $1,000 58% $1,000 50% 33
Able 15% 1,197 8/19/2023 6.0 13.5 $27.50 17500 2.23 $1,000 58% $1,000 51% 34
Cake 10% 812 11/21/2019 5.5 14.5 $26.50 17500 4.10 $1,000 58% $1,000 51% 11
Eat 9% 747 4/19/2023 5.5 15.0 $32.00 18000 2.40 $1,300 67% $1,000 43% 15
Fast 9% 713 11/21/2019 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 50% 9
Acre 6% 488 6/13/2023 YES 3.5 16.5 $20.50 14000 3.07 $900 53% $900 51% 9
Dell 5% 442 6/7/2023 3.5 16.5 $21.00 14000 3.08 $600 44% $900 50% 8
Bead 2% 127 5/25/2018 YES 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 58% 1
Cedar 1% 113 5/25/2018 YES 3.0 17.0 $20.00 14000 5.60 $900 53% $900 51% 1
Ebb 1% 109 3/7/2024 YES 3.0 17.0 $21.00 14000 5.60 $900 53% $900 43% 1
Feat 1% 80 5/25/2018 YES 3.0 17.0 $21.00 14000 5.60 $900 53% $900 50% 1

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C136952 Round: 1
Dec. 31, 2023

Low End Statistics

Total Industry Unit Demand 10,089
Actual Industry Unit Sales |10,089
Segment % of Total Industry |39.0%

Next Year's Segment Growth Rate |10.8%

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
Bead 20% 2,041 5/25/2018 YES 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 40% 16
Dell 18% 1,801 6/7/2023 3.5 16.5 $21.00 14000 3.08 $600 44% $900 33% 7
Ebb 17% 1,732 3/7/2024 YES 3.0 17.0 $21.00 14000 5.60 $900 53% $900 33% 15
Cedar 17% 1,728 5/25/2018 YES 3.0 17.0 $20.00 14000 5.60 $900 53% $900 34% 18
Acre 15% 1,532 6/13/2023 YES 3.5 16.5 $20.50 14000 3.07 $900 53% $900 34% 8
Feat 11% 1,147 5/25/2018 YES 3.0 17.0 $21.00 14000 5.60 $900 53% $900 33% 15
Cake 1% 67 11/21/2019 5.5 14.5 $26.50 17500 4.10 $1,000 58% $1,000 34% 1
Fast 0% 34 11/21/2019 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 33% 0
Able 0% 8 8/19/2023 6.0 13.5 $27.50 17500 2.23 $1,000 58% $1,000 34% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C136952 Round: 1
Dec. 31, 2023

High End Statistics

Total Industry Unit Demand 2,985
Actual Industry Unit Sales |2,985
Segment % of Total Industry |11.5%

Next Year's Segment Growth Rate |15.2%

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% 536 12/25/2023 9.2 10.8 $39.50 23500 1.35 $1,250 62% $1,362 51% 31
Cid 14% 412 4/19/2021 8.0 12.0 $37.00 23000 2.70 $800 48% $800 40% 7
Adam 14% 406 1/16/2024 8.0 12.0 $37.50 23000 2.70 $800 48% $800 41% 7
Echo 13% 402 4/19/2021 8.0 12.0 $38.00 23000 2.70 $800 48% $800 42% 7
Duck 13% 400 4/19/2021 8.0 12.0 $38.00 23000 2.70 $800 48% $800 41% 7
Fist 13% 400 4/19/2021 8.0 12.0 $38.00 23000 2.70 $800 48% $800 41% 7
Bold 4% 126 8/25/2023 9.1 14.5 $34.50 22500 1.92 $1,300 61% $654 51% 4
Coat 2% 59 2/23/2023 YES 9.2 15.5 $32.00 25000 2.18 $700 42% $700 40% 0
Aft 1% 30 6/29/2020 9.4 15.5 $32.00 25000 3.50 $700 42% $700 41% 0
Buddy 1% 29 8/6/2023 5.1 11.2 $34.50 19000 2.00 $1,300 61% $708 51% 1
Edge 1% 29 6/29/2020 9.4 15.5 $33.00 25000 3.50 $700 42% $700 42% 0
Dot 1% 29 6/29/2020 9.4 15.5 $33.00 25000 3.50 $700 42% $700 41% 0

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C136952 Round: 1
Dec. 31, 2023

Performance Statistics
Total Industry Unit Demand 2,315
Actual Industry Unit Sales |2,315
Segment % of Total Industry |8.9%

Next Year's Segment Growth Rate |18.8%

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
Coat 18% 426 2/23/2023 YES 9.2 15.5 $32.00 25000 2.18 $700 42% $700 29% 17
Aft 18% 411 6/29/2020 9.4 15.5 $32.00 25000 3.50 $700 42% $700 29% 16
Dot 17% 389 6/29/2020 9.4 15.5 $33.00 25000 3.50 $700 42% $700 29% 15
Edge 17% 389 6/29/2020 9.4 15.5 $33.00 25000 3.50 $700 42% $700 29% 15
Foam 17% 389 6/29/2020 9.4 15.5 $33.00 25000 3.50 $700 42% $700 29% 15
Bold 13% 303 8/25/2023 9.1 14.5 $34.50 22500 1.92 $1,300 61% $654 29% 7
Eat 0% 3 4/19/2023 5.5 15.0 $32.00 18000 2.40 $1,300 67% $1,000 29% 0
Daze 0% 2 5/16/2023 6.0 14.0 $28.00 17500 2.36 $1,000 58% $1,000 29% 0
Cake 0% 1 11/21/2019 5.5 14.5 $26.50 17500 4.10 $1,000 58% $1,000 29% 0
Fast 0% 1 11/21/2019 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 29% 0

CAPSTONE ® COURIER Page 8

Size Segment Analysis C136952 Round: 1
Dec. 31, 2023

Size Statistics
Total Industry Unit Demand 2,360
Actual Industry Unit Sales |2,360
Segment % of Total Industry |9.1%

Next Year's Segment Growth Rate |17.3%

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
Buddy 20% 461 8/6/2023 5.1 11.2 $34.50 19000 2.00 $1,300 61% $708 36% 15
Agape 18% 415 8/6/2023 YES 5.0 10.5 $31.00 19000 2.00 $700 42% $700 35% 24
Cure 14% 339 5/24/2020 4.0 11.0 $31.00 19000 3.60 $700 42% $700 35% 7
Dune 14% 319 5/24/2020 4.0 11.0 $33.00 19000 3.60 $700 42% $700 35% 6
Egg 14% 319 5/24/2020 4.0 11.0 $33.00 19000 3.60 $700 42% $700 35% 6
Fume 14% 319 5/24/2020 4.0 11.0 $33.00 19000 3.60 $700 42% $700 35% 6
Able 3% 68 8/19/2023 6.0 13.5 $27.50 17500 2.23 $1,000 58% $1,000 35% 4
Daze 2% 44 5/16/2023 6.0 14.0 $28.00 17500 2.36 $1,000 58% $1,000 35% 1
Baker 2% 42 3/10/2023 5.4 14.5 $29.50 17000 2.45 $1,300 67% $1,362 36% 1
Cake 1% 15 11/21/2019 5.5 14.5 $26.50 17500 4.10 $1,000 58% $1,000 35% 0
Fast 1% 14 11/21/2019 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 35% 0
Eat 0% 4 4/19/2023 5.5 15.0 $32.00 18000 2.40 $1,300 67% $1,000 35% 0

CAPSTONE ® COURIER Page 9

 Round: 1
Market Share C136952 Dec. 31, 2023

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 8,119 10,089 2,985 2,315 2,360 25,869 Units Demanded 8,119 10,089 2,985 2,315 2,360 25,869
% of Market 31.4% 39.0% 11.5% 8.9% 9.1% 100.0% % of Market 31.4% 39.0% 11.5% 8.9% 9.1% 100.0%

Able 14.7% 0.7% 2.9% 5.0% Able 14.6% 0.7% 2.5% 4.9%
Acre 6.0% 15.2% 7.8% Acre 6.0% 13.3% 7.1%
Adam 13.6% 1.6% Adam 13.6% 1.6%
Aft 1.0% 17.8% 1.7% Aft 1.0% 17.5% 1.7%
Agape 0.1% 0.5% 17.6% 1.7% Agape 0.2% 0.7% 22.1% 2.1%
Total 20.9% 15.3% 15.8% 17.8% 20.5% 17.8% Total 20.8% 13.3% 16.0% 17.5% 24.6% 17.4%

Baker 21.8% 0.5% 1.8% 7.1% Baker 21.6% 0.5% 1.7% 7.0%
Bead 1.6% 20.2% 8.4% Bead 1.6% 18.5% 7.7%
Bid 18.0% 2.1% Bid 17.9% 2.1%
Bold 4.2% 13.1% 1.7% Bold 4.2% 13.0% 1.6%
Buddy 1.0% 19.6% 1.9% Buddy 1.0% 18.2% 1.8%
Total 23.4% 20.2% 23.7% 13.1% 21.3% 21.1% Total 23.1% 18.5% 23.6% 13.0% 19.9% 20.2%

Cake 10.0% 0.7% 0.1% 0.6% 3.5% Cake 9.9% 0.3% 0.6% 3.3%
Cedar 1.4% 17.1% 7.1% Cedar 1.6% 21.2% 8.8%
Cid 13.8% 1.6% Cid 13.8% 1.6%
Coat 0.3% 2.0% 18.4% 2.0% Coat 0.4% 2.0% 19.5% 2.1%
Cure 0.2% 14.4% 1.4% Cure 0.2% 13.7% 1.3%
Total 11.9% 17.8% 15.9% 18.5% 15.0% 15.5% Total 12.1% 21.5% 15.9% 19.5% 14.3% 17.1%

Daze 17.8% 0.9% 1.9% 5.9% Daze 17.6% 0.9% 1.8% 5.8%
Dell 5.4% 17.8% 8.7% Dell 5.4% 11.2% 6.1%
Duck 13.4% 1.6% Duck 13.4% 1.5%
Dot 1.0% 16.8% 1.6% Dot 1.0% 16.6% 1.6%
Dune 13.5% 1.3% Dune 12.9% 1.2%
Total 23.4% 17.8% 15.3% 16.9% 15.4% 19.0% Total 23.1% 11.2% 15.3% 16.7% 14.6% 16.2%

Eat 9.2% 0.3% 0.1% 0.2% 2.9% Eat 9.1% 0.2% 0.2% 2.9%
Ebb 1.3% 17.2% 7.1% Ebb 1.4% 17.6% 7.3%
Echo 13.5% 1.6% Echo 13.4% 1.6%
Edge 1.0% 16.8% 1.6% Edge 1.0% 16.6% 1.6%
Egg 13.5% 1.3% Egg 12.9% 1.2%
Total 10.6% 17.2% 14.7% 16.9% 13.7% 14.5% Total 10.6% 17.6% 14.7% 16.7% 13.1% 14.6%

Fast 8.8% 0.3% 0.2% 0.6% 3.0% Fast 8.7% 0.2% 0.2% 0.6% 2.9%
Feat 1.0% 11.4% 4.7% Feat 1.4% 17.6% 7.3%
Fist 13.4% 1.6% Fist 13.4% 1.5%
Foam 1.0% 16.8% 1.6% Foam 1.0% 16.6% 1.6%
Fume 13.5% 1.3% Fume 12.9% 1.2%
Total 9.9% 11.7% 14.6% 16.9% 14.1% 12.1% Total 10.2% 17.8% 14.6% 16.6% 13.5% 14.5%

CAPSTONE ® COURIER Page 10

 Round: 1
Perceptual Map C136952 Dec. 31, 2023

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 6.0 13.5 8/19/2023 Baker 5.4 14.5 3/10/2023 Cake 5.5 14.5 11/21/2019
Acre 3.5 16.5 6/13/2023 Bead 3.0 17.0 5/25/2018 Cedar 3.0 17.0 5/25/2018
Adam 8.0 12.0 1/16/2024 Bid 9.2 10.8 12/25/2023 Cid 8.0 12.0 4/19/2021
Aft 9.4 15.5 6/29/2020 Bold 9.1 14.5 8/25/2023 Coat 9.2 15.5 2/23/2023
Agape 5.0 10.5 8/6/2023 Buddy 5.1 11.2 8/6/2023 Cure 4.0 11.0 5/24/2020

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 6.0 14.0 5/16/2023 Eat 5.5 15.0 4/19/2023 Fast 5.5 14.5 11/21/2019
Dell 3.5 16.5 6/7/2023 Ebb 3.0 17.0 3/7/2024 Feat 3.0 17.0 5/25/2018
Duck 8.0 12.0 4/19/2021 Echo 8.0 12.0 4/19/2021 Fist 8.0 12.0 4/19/2021
Dot 9.4 15.5 6/29/2020 Edge 9.4 15.5 6/29/2020 Foam 9.4 15.5 6/29/2020
Dune 4.0 11.0 5/24/2020 Egg 4.0 11.0 5/24/2020 Fume 4.0 11.0 5/24/2020

CAPSTONE ® COURIER Page 11

 Round: 1
HR/TQM Report C136952 Dec. 31, 2023
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 727 892 701 1,133 735 593
Complement 727 892 701 1,133 735 593
1st Shift Complement 640 721 640 724 674 593
2nd Shift Complement 87 171 61 409 61 0
Overtime Percent 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Turnover Rate 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
New Employees 100 281 71 546 109 59
Separated Employees 0 0 0 0 0 107
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 $100 $281 $71 $546 $109 $59
Separation Cost $0 $0 $0 $0 $0 $535
Training Cost $0 $0 $0 $0 $0 $0
Total HR Admin Cost $100 $281 $71 $546 $109 $594
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 Erie C136952
Dec. 31, 2023
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2023 2022
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 $3,474 3.4% $3,434
current value of your inventory across all products. A zero
Account Receivable $8,456 8.3% $8,307
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $21,189 20.9% $8,617
Equipment: The current value of your plant. Accum Total Current Assets $33,119 32.7% $20,358
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $113,800 112.0% $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) -44.9% ($37,933)
of operations. It includes emergency loans used to keep Total Fixed Assets $68,280 67.3% $75,867
your company solvent should you run out of cash during Total Assets $101,399 100.0% $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 $6,682 6.6% $6,583
instead of paying to shareholders as dividends.
Current Debt $0 0.0% $0
Long Term Debt $41,700 41.1% $41,700
Total Liabilities $48,382 47.7% $48,283

Common Stock $18,360 18.1% $18,360

Retained Earnings $34,657 34.2% $29,582
Total Equity $53,017 52.3% $47,942
Total Liab. & O. Equity $101,399 100.0% $96,225

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2023 2022
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $5,075 $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 $0 $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable $99 $3,583
are bad and you find yourself carrying an abundance of excess inventory,
Inventory ($12,572) ($8,617)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($148) ($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 $41 $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 $0 $0
Change in current debt(net) $0 $0
Net cash from financing activities $0 ($4,000)
Net change in cash position $41 $2,434
Closing cash position $3,474 $3,434

Annual Report Page 13

 Round: 1
Annual Report Erie C136952
Dec. 31, 2023
2023 Income Statement
2023 Common
(Product Name) Eat Ebb Echo Edge Egg
Total
Size
Sales $24,350 $38,661 $15,282 $13,818 $10,765 $0 $0 $0 $102,876 100.0%
Variable Costs:
Direct Labor $5,943 $13,728 $3,594 $3,732 $2,908 $0 $0 $0 $29,905 29.1%
Direct Material $8,401 $13,553 $6,169 $6,425 $4,276 $0 $0 $0 $38,824 37.7%
Inventory Carry $1,842 $0 $129 $275 $297 $0 $0 $0 $2,543 2.5%
Total Variable $16,185 $27,280 $9,892 $10,432 $7,482 $0 $0 $0 $71,271 69.3%
Contribution Margin $8,165 $11,380 $5,390 $3,386 $3,283 $0 $0 $0 $31,605 30.7%
Period Costs:
Depreciation $2,640 $2,427 $1,080 $720 $720 $0 $0 $0 $7,587 7.4%
SG&A: R&D $301 $1,000 $0 $0 $0 $0 $0 $0 $1,301 1.3%
Promotions $1,300 $900 $800 $700 $700 $0 $0 $0 $4,400 4.3%
Sales $1,000 $900 $800 $700 $700 $0 $0 $0 $4,100 4.0%
Admin $196 $311 $123 $111 $87 $0 $0 $0 $829 0.8%
Total Period $5,438 $5,538 $2,803 $2,231 $2,207 $0 $0 $0 $18,217 17.7%
Net Margin $2,727 $5,842 $2,587 $1,155 $1,077 $0 $0 $0 $13,388 13.0%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $0 0.0%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $13,388 13.0%
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 $5,421 5.3%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $2,789 2.7%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $104 0.1%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $5,075 4.9%
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