Page 1 Front Page Page 5 Thrift Segment Analysis Page 9 Market Share

Page 2 Stocks & Bonds Page 6 Core Segment Analysis Page 10 Perceptual Map
Page 3 Financial Summary Page 7 Nano Segment Analysis Page 11 HR/TQM Report
Page 4 Production Analysis Page 8 Elite Segment Analysis

Annual Report Andrews Annual Report Baldwin Annual Report Chester Annual Report Digby

Print

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Round 4
Dec. 31 2027 P
Report Sabari Vishnu

Andrews Baldwin Chester

P Sabari Vishnu

Digby

Selected Financial Statistics

Andrews Baldwin Chester Digby

ROS 22.8% 5.5% 2.4% 15.8%

Asset Turnover 1.54 0.84 0.75 1.42

ROA 35.1% 4.6% 1.8% 22.5%

Leverage (Assets/Equity) 2.1 2.4 2.3 1.7

ROE 72.1% 11.1% 4% 37.7%

Emergency Loan $0 $0 $0 $0

Sales $303,914,814 $141,303,963 $165,285,602 $208,581,840

EBIT $119,715,495 $24,410,540 $21,167,990 $57,577,823

Profits $69,424,836 $7,817,957 $3,923,344 $33,023,601

Cumulative Profit $137,927,185 $6,994,235 $781,372 $78,735,171

SG&A / Sales 9.7% 11.1% 13.1% 6.8%

Contrib. Margin % 54.5% 42.3% 39.7% 41.9%

Percent Of Sales $ Market Share

125%

Digby
25.5 %

100%
Other Andrews
SGA 37.1 %
Depr
75% Var Costs
Profit

50%

25% Chester
20.2 %

0% Baldwin
Andrews Baldwin Chester Digby 17.3 %

Market Share information is provided on Page 7.

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Round 4
Stocks & Bonds P Sabari Vishnu Dec. 31 2027

Stock Market Summary

Company Close Change Shares MarketCap($M) Book Value Per Share EPS Dividend Yield P/E

Andrews $268.83 $103.35 1,789,270 $481 $53.78 $38.80 $40.00 14.9% 6.9

Baldwin $31.62 $12.72 3,094,783 $98 $22.75 $2.53 $2.48 7.8% 12.5

Chester $28.77 $6.55 3,397,641 $98 $28.63 $1.15 $0.00 0.0% 24.9

Digby $137.01 $45.47 1,851,625 $254 $47.37 $17.83 $12.74 9.3% 7.7

Closing Stock Price Andrews

Baldwin
$300
Chester
Digby

$250

$200

$150

$100

$50

$0
2019 2020 2021 2022 2023 2024 2025 2026 2027

Bond Market Summary

Company Series# Face Yield Close$ S&P

Andrews

11.2S2030 $8,837,000 11.8% 94.84 B

11.9S2031 $7,072,000 12.5% 95.58 B

11.4S2034 $14,000,000 12.5% 91.26 B

12.1S2035 $41,000,000 12.9% 93.85 B

Baldwin

12.5S2031 $14,293,769 13.1% 95.35 CC

12.5S2032 $7,987,653 13.2% 94.52 CC

12.5S2033 $9,474,381 13.3% 93.80 CC

13.4S2034 $14,417,355 13.8% 97.01 CC

13.9S2035 $23,602,881 14.0% 99.08 CC

Chester

12.4S2031 $874,611 12.9% 95.90 CCC

11.9S2033 $15,689,911 12.9% 92.57 CCC

13.0S2034 $17,785,485 13.5% 96.55 CCC

13.7S2035 $33,332,338 13.8% 99.53 CCC

13.8S2036 $19,669,836 13.8% 100.00 CCC

Digby

11.2S2033 $4,316,578 11.7% 95.91 BBB

12.0S2034 $1,278,536 12.1% 99.09 BBB

12.2S2035 $18,096,134 12.2% 100.00 BBB

12.6S2036 $4,627,497 12.3% 102.12 BBB

Next Year's Prime Rate 9%

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Round 4
Financial Summary P Sabari Vishnu Dec. 31 2027

Cash Flow Statement Survey

Andrews Baldwin Chester Digby
Cash flows from operating activities
Net Income (Loss) $69,425 $7,818 $3,923 $33,024
Adjustment for non-cash items:
Depreciation $16,016 $14,567 $17,509 $9,484
Extraordinary gains/losses/writeoffs $0 ($595) ($1,050) ($223)
Changes in current assets and liabilities:
Accounts payable ($2,615) ($2,404) ($1,203) ($144)
Inventory $9,276 $12,327 $5,932 ($4,932)
Accounts receivable ($661) ($1,502) ($1,578) ($2,809)
Net cash from operations $91,441 $30,210 $23,534 $34,399

Cash flows from investing activities

Plant improvements (net) $0 $0 $0 $0
Cash flows from financing activities
Dividends paid ($71,571) ($7,673) $0 ($23,591)
Sales of common stock $0 $0 $4,100 $0
Purchase of common stock ($15,580) $0 $0 ($3,908)
Cash from long term debt issued $0 $0 $0 $0
Early retirement of long term debt $0 ($6,360) ($12,440) ($3,671)
Retirement of current debt ($25,000) ($25,606) ($23,894) ($21,019)
Cash from current debt borrowing $20,000 $22,909 $26,877 $20,791
Cash from emergency loan $0 $0 $0 $0

Net cash from financing activities ($92,151) ($16,730) ($5,357) ($31,398)

Net change in cash position ($710) $13,479 $18,177 $3,001

Balance Sheet Survey

Andrews Baldwin Chester Digby
Cash $28,065 $36,170 $32,993 $24,462
Accounts Receivable $24,979 $11,614 $13,585 $17,144
Inventory $3,556 $8,461 $15,074 $31,380
Total Current Assets $56,601 $56,246 $61,652 $72,986

Plant and equipment $240,240 $218,500 $262,640 $142,260

Accumulated Depreciation ($99,119) ($106,042) ($105,218) ($68,372)
Total Fixed Assets $141,121 $112,458 $157,422 $73,888

Total Assets $197,722 $168,704 $219,074 $146,874

Accounts Payable $10,577 $5,609 $7,554 $10,054

Current Debt $20,000 $22,909 $26,877 $20,791
Total Current Liabilities $30,577 $28,518 $34,431 $30,845

Long Term Debt $70,909 $69,776 $87,352 $28,319

Total Liabilities $101,486 $98,294 $121,783 $59,164

Common Stock $10,923 $41,130 $57,594 $10,685

Retained Earnings $85,312 $29,279 $39,696 $77,025
Total Equity $96,235 $70,409 $97,290 $87,710

Total Liabilities & Owner's Equity $197,722 $168,704 $219,074 $146,874

Income Statement Survey

Andrews Baldwin Chester Digby
Sales $303,915 $141,304 $165,286 $208,582
Variable Costs (Labor, Material, Carry) $138,396 $81,591 $99,649 $121,163
Contribution Margin $165,519 $59,713 $65,637 $87,419
Depreciation $16,016 $14,567 $17,509 $9,484
SGA (R&D, Promo, Sales, Admin) $29,424 $15,735 $21,617 $14,217
Other (Fees, Writeoffs, TQM, Bonuses $364 $5,001 $5,342 $6,140
EBIT $119,715 $24,411 $21,168 $57,578
Interest (Short term, Long term) $10,728 $12,137 $15,009 $5,735
Taxes $38,146 $4,296 $2,156 $18,145
Profit Sharing $1,417 $160 $80 $674
Net Profit $69,425 $7,818 $3,923 $33,024

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Round 4
Production Analysis P Sabari Vishnu Dec. 31 2027

Production Capacity

Andrews

Baldwin

Chester

Digby

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,500 9,…

Capacity Production

Andrews Baldwin Chester Digby

Units Produced 8,545 6,387 7,228 6,238

Production Information
Capacity
Primary Units Unit Revision Age Pfmn Size Material Labor Contr. 2nd Shift & Automation Next Plant
Name Segment Sold Inventory Date Dec.31 MTBF Coord Coord Price Cost Cost Marg. Overtime Next Round Round Utiliz.

Abby Thrift 1,218 368 10/23/2027 1.5 20000 9.1 11.0 $21.50 $7.16 $1.28 59% 15% 10.0 1,230 114%

Alan Core 1,445 0 3/11/2028 2.3 22000 11.4 8.9 $29.00 $9.16 $1.20 60% 0% 10.0 1,300 43%

Apple Nano 1,188 0 8/16/2027 1.4 24000 14.3 2.6 $40.00 $12.85 $7.14 50% 65% 6.0 728 163%

Ate Elite 1,238 0 8/16/2027 1.4 26000 17.5 5.8 $42.00 $13.38 $7.24 51% 75% 6.0 714 173%

ARK2 Thrift 1,044 46 10/23/2027 1.1 20000 9.1 11.0 $21.50 $7.16 $1.49 60% 100% 10.0 550 198%

ARK3 Core 1,089 0 12/26/2027 0.9 22000 12.4 7.7 $30.00 $9.89 $1.49 63% 100% 10.0 550 198%

ARK4 Nano 990 0 8/16/2027 1.2 24000 14.3 2.6 $40.00 $12.85 $7.45 50% 100% 6.0 500 198%

ARK5 Elite 990 0 8/16/2027 1.2 26000 17.5 5.8 $42.00 $13.38 $7.45 51% 100% 6.0 500 198%

Bat Thrift 1,703 259 6/10/2027 2.6 17000 9.4 10.7 $15.00 $6.69 $1.41 43% 22% 10.0 1,350 121%

Beetle Thrift 1,725 223 6/10/2027 2.6 17000 9.6 10.5 $15.00 $6.82 $1.37 43% 13% 10.0 1,500 112%

Bid Core 1,902 132 12/14/2027 1.6 18000 12.1 7.3 $23.00 $9.03 $4.48 40% 48% 8.0 1,050 146%

Boat Core 1,846 187 12/14/2027 1.6 20000 12.8 7.8 $25.00 $9.64 $4.24 43% 24% 8.0 1,250 123%

Camp Thrift 1,156 139 12/20/2026 3.2 14000 9.1 11.0 $15.00 $5.93 $1.23 49% 0% 10.0 1,250 59%

Cent Thrift 1,357 201 12/6/2024 4.1 16000 10.0 10.1 $17.00 $7.14 $1.23 44% 0% 10.0 1,500 83%

Clack Nano 1,230 249 12/21/2027 1.0 18000 14.2 2.9 $28.00 $11.83 $5.51 36% 33% 7.0 900 132%

Cone Elite 909 262 12/21/2027 1.0 20000 17.6 5.7 $34.00 $12.62 $5.05 46% 6% 7.0 850 105%

Creak Core 1,435 125 12/14/2027 1.0 16000 12.0 7.9 $19.00 $8.63 $4.23 32% 44% 8.0 1,040 143%

Cat Core 1,614 120 12/14/2027 1.0 16000 11.7 8.3 $20.00 $8.38 $4.38 36% 63% 8.0 1,040 162%

Dart Nano 1,709 492 9/13/2027 1.3 23000 14.9 2.7 $34.00 $13.04 $6.59 40% 95% 7.0 1,000 193%

Deft Elite 1,485 324 8/21/2027 1.6 25000 18.0 5.2 $34.00 $13.82 $6.55 39% 88% 7.0 850 186%

Dim Nano 1,266 358 8/13/2027 1.4 23000 15.3 2.4 $37.00 $13.28 $5.84 46% 24% 7.0 1,050 123%

Don Elite 1,436 405 8/21/2027 1.3 25000 17.8 4.9 $37.00 $13.83 $5.87 44% 26% 7.0 1,150 125%

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Thrift Market Segment Round 4
Analysis P Sabari Vishnu Dec. 31 2027

Thrift Statisitcs Accessibility Thrift

Total Industry Unit Demand 7,743

Actual Industry Unit Sales 7,743

Andrews
Segment % of Total Industry 25.8%

Next Year's Segment Growth Rate 11%

Baldwin
Thrift Customer Buying Criteria
Expectations Importance

1. Price $14.00 - 26.00 55% Chester

2. Reliability MTBF 14000-20000 20%

3. Ideal Position Pfmn 9.1 Size 11.0 15%

4. Age Ideal Age = 3.0 10%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Thrift Actual vs Potential Market Share Thrift

20 50%

18

16 40%

14

30%
12 Camp
ARK2
Abby
Bat
Beetle
Cent
Size

10 Alan
Cat 20%
Creak
ARK3
8 Bid

6
10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Thrift Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Bat 21% 1,633 6/10/2027 9.4 10.7 $15.00 17000 2.65 $1,300 83% $1,600 83% 69

Beetle 21% 1,617 6/10/2027 9.6 10.5 $15.00 17000 2.6 $1,300 83% $1,600 83% 67

Abby 15% 1,163 10/23/2027 9.1 11.0 $21.50 20000 1.46 $1,500 100% $1,500 86% 46

Camp 14% 1,118 12/20/2026 9.1 11.0 $15.00 14000 3.25 $1,200 72% $1,000 78% 46

ARK2 13% 1,001 10/23/2027 9.1 11.0 $21.50 20000 1.09 $1,500 97% $500 86% 41

Cent 11% 860 12/6/2024 10.0 10.1 $17.00 16000 4.11 $1,200 72% $1,000 78% 36

Cat 3% 196 12/14/2027 11.7 8.3 $20.00 16000 0.96 $1,200 62% $900 78% 2

Creak 1% 91 12/14/2027 12.0 7.9 $19.00 16000 0.96 $1,200 67% $900 78% 0

Alan 1% 54 3/11/2028 YES 11.4 8.9 $29.00 22000 2.27 $1,500 100% $1,500 86% 4

ARK3 0% 7 12/26/2027 YES 12.4 7.7 $30.00 22000 0.91 $1,500 97% $500 86% 0

Bid 0% 3 12/14/2027 12.1 7.3 $23.00 18000 1.56 $1,300 83% $1,400 83% 0

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Round 4
Core Market Segment Analysis P Sabari Vishnu Dec. 31 2027

Core Statisitcs Accessibility Core

Total Industry Unit Demand 9,775

Actual Industry Unit Sales 9,775

Andrews
Segment % of Total Industry 32.6%

Next Year's Segment Growth Rate 10%

Baldwin
Core Customer Buying Criteria
Expectations Importance

1. Price $20.00 - 32.00 46% Chester

2. Age Ideal Age = 2.0 20%

3. Reliability MTBF 16000-22000 18%

4. Ideal Position Pfmn 12.4 Size 7.7 16%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Core Actual vs Potential Market Share Core

20 50%

18

16 40%

14

30%
12 Camp
ARK2
Abby
Bat
Beetle
Cent
Size

10 Alan
Cat 20%
Creak
Boat
ARK3
8 Bid

6
10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Core Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Bid 19% 1,895 12/14/2027 12.1 7.3 $23.00 18000 1.56 $1,300 83% $1,400 81% 53

Boat 19% 1,838 12/14/2027 12.8 7.8 $25.00 20000 1.57 $1,300 83% $1,400 81% 52

Cat 15% 1,418 12/14/2027 11.7 8.3 $20.00 16000 0.96 $1,200 62% $900 73% 39

Alan 14% 1,391 3/11/2028 YES 11.4 8.9 $29.00 22000 2.27 $1,500 100% $1,500 83% 36

Creak 14% 1,344 12/14/2027 12.0 7.9 $19.00 16000 0.96 $1,200 67% $900 73% 37

ARK3 11% 1,080 12/26/2027 YES 12.4 7.7 $30.00 22000 0.91 $1,500 97% $500 83% 37

Cent 5% 497 12/6/2024 10.0 10.1 $17.00 16000 4.11 $1,200 72% $1,000 73% 10

Beetle 1% 108 6/10/2027 9.6 10.5 $15.00 17000 2.6 $1,300 83% $1,600 81% 3

Bat 1% 70 6/10/2027 9.4 10.7 $15.00 17000 2.65 $1,300 83% $1,600 81% 2

Abby 1% 55 10/23/2027 9.1 11.0 $21.50 20000 1.46 $1,500 100% $1,500 83% 0

ARK2 0% 43 10/23/2027 9.1 11.0 $21.50 20000 1.09 $1,500 97% $500 83% 0

Camp 0% 38 12/20/2026 9.1 11.0 $15.00 14000 3.25 $1,200 72% $1,000 73% 0

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Round 4
Nano Market Segment Analysis P Sabari Vishnu Dec. 31 2027

Nano Statisitcs Accessibility Nano

Total Industry Unit Demand 6,162

Actual Industry Unit Sales 6,162

Andrews
Segment % of Total Industry 20.6%

Next Year's Segment Growth Rate 14%

Baldwin
Nano Customer Buying Criteria
Expectations Importance

1. Ideal Position Pfmn 14.3 Size 2.6 35% Chester

2. Price $28.00 - 40.00 27%

3. Age Ideal Age = 1.0 20%

4. Reliability MTBF 18000-24000 18%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Nano Actual vs Potential Market Share Nano

20 50%

18

16 40%

14

30%
12
Size

10
Boat
ARK3 20%
8 Bid

6 Don
10%
4 Clack
Dart
Apple
ARK4Dim
2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Nano Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Dart 25% 1,532 9/13/2027 14.9 2.7 $34.00 23000 1.27 $1,400 92% $1,100 80% 66

Dim 20% 1,216 8/13/2027 15.3 2.4 $37.00 23000 1.36 $1,400 92% $1,000 80% 51

Clack 20% 1,214 12/21/2027 14.2 2.9 $28.00 18000 1.02 $1,200 73% $2,400 74% 56

Apple 19% 1,188 8/16/2027 YES 14.3 2.6 $40.00 24000 1.42 $1,500 100% $1,500 85% 60

ARK4 16% 990 8/16/2027 YES 14.3 2.6 $40.00 24000 1.22 $1,500 97% $500 85% 57

Don 0% 14 8/21/2027 17.8 4.9 $37.00 25000 1.35 $1,400 91% $1,000 80% 0

Bid 0% 4 12/14/2027 12.1 7.3 $23.00 18000 1.56 $1,300 83% $1,400 12% 0

Boat 0% 2 12/14/2027 12.8 7.8 $25.00 20000 1.57 $1,300 83% $1,400 12% 0

ARK3 0% 1 12/26/2027 YES 12.4 7.7 $30.00 22000 0.91 $1,500 97% $500 85% 0

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Round 4
Elite Market Segment Analysis P Sabari Vishnu Dec. 31 2027

Elite Statisitcs Accessibility Elite

Total Industry Unit Demand 6,295

Actual Industry Unit Sales 6,295

Andrews
Segment % of Total Industry 21%

Next Year's Segment Growth Rate 16%

Baldwin
Elite Customer Buying Criteria
Expectations Importance

1. Age Ideal Age = 0.0 34% Chester

2. Price $30.00 - 42.00 24%

3. Ideal Position Pfmn 17.5 Size 5.8 22%

4. Reliability MTBF 20000-26000 20%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Elite Actual vs Potential Market Share Elite

20 60%

18
50%
16

14 40%

12
30%
Size

10
Boat
ARK3
8
20%
ARK5
Ate
Cone
6 Deft
Don
10%
4 Clack
Dart
Dim
2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Elite Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Deft 24% 1,485 8/21/2027 18.0 5.2 $34.00 25000 1.63 $1,400 92% $1,000 87% 54

Don 23% 1,422 8/21/2027 17.8 4.9 $37.00 25000 1.35 $1,400 91% $1,000 87% 50

Ate 20% 1,238 8/16/2027 YES 17.5 5.8 $42.00 26000 1.43 $1,500 100% $1,500 88% 49

ARK5 16% 990 8/16/2027 YES 17.5 5.8 $42.00 26000 1.22 $1,500 97% $500 88% 49

Cone 14% 909 12/21/2027 17.6 5.7 $34.00 20000 1.03 $1,200 72% $2,400 74% 37

Dart 3% 177 9/13/2027 14.9 2.7 $34.00 23000 1.27 $1,400 92% $1,100 87% 0

Dim 1% 50 8/13/2027 15.3 2.4 $37.00 23000 1.36 $1,400 92% $1,000 87% 0

Clack 0% 16 12/21/2027 14.2 2.9 $28.00 18000 1.02 $1,200 73% $2,400 74% 0

Boat 0% 5 12/14/2027 12.8 7.8 $25.00 20000 1.57 $1,300 83% $1,400 5% 0

ARK3 0% 2 12/26/2027 YES 12.4 7.7 $30.00 22000 0.91 $1,500 97% $500 88% 0

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Round 4
Market Share Report P Sabari Vishnu Dec. 31 2027

Units Sold vs Demand Market Share

11,000 50%

10,000

9,000
40%
8,000

7,000
30%
6,000

5,000
20%
4,000

3,000

2,000 10%

1,000

0 0%
Thrift Core Nano Elite Andrews Baldwin Chester Digby

Industry Unit Sales Total Unit Demand Thrift Core Nano Elite

Actual Market Share in Units Potential Market Share in Units

Thrift Core Nano Elite Total Thrift Core Nano Elite Total

Industry Unit Sales 7,743 9,775 6,162 6,295 29,974 Units Demanded 7,743 9,775 6,162 6,295 29,974

% of Market 25.8% 32.6% 20.6% 21.0% 100.0% % of Market 25.8% 32.6% 20.6% 21.0% 100.0%

Abby 15.0% 0.6% 4.1% Abby 15.0% 0.5% 4.0%

Alan 0.7% 14.2% 4.8% Alan 0.8% 14.8% 5.0%

Apple 19.3% 4.0% Apple 20.7% 4.2%

Ate 19.7% 4.1% Ate 19.5% 4.1%

ARK2 12.9% 0.4% 3.5% ARK2 13.2% 0.5% 3.6%

ARK3 0.1% 11.1% 3.6% ARK3 0.1% 13.3% 4.4%

ARK4 16.1% 3.3% ARK4 20.0% 4.1%

ARK5 15.7% 3.3% ARK5 20.7% 4.3%

Total 28.7% 26.3% 35.4% 35.4% 30.7% Total 29.0% 29.1% 40.7% 40.3% 33.8%

Bat 21.1% 0.7% 5.7% Bat 21.0% 0.7% 5.6%

Beetle 20.9% 1.1% 5.8% Beetle 20.8% 1.1% 5.7%

Bid 19.4% 0.1% 6.4% Bid 18.6% 0.1% 6.1%

Boat 18.8% 0.1% 6.2% Boat 18.1% 0.1% 5.9%

Total 42.0% 40.0% 0.1% 0.1% 23.9% Total 41.9% 38.5% 0.1% 0.1% 23.4%

Camp 14.4% 0.4% 3.9% Camp 14.4% 0.4% 3.8%

Cent 11.1% 5.1% 4.5% Cent 11.1% 4.9% 4.5%

Clack 19.7% 0.3% 4.1% Clack 18.1% 0.2% 3.8%

Cone 14.4% 3.0% Cone 13.4% 2.8%

Creak 1.2% 13.8% 4.8% Creak 1.2% 13.2% 4.6%

Cat 2.5% 14.5% 5.4% Cat 2.5% 13.9% 5.2%

Total 29.2% 33.7% 19.7% 14.7% 25.7% Total 29.1% 32.5% 18.1% 13.6% 24.7%

Dart 24.9% 2.8% 5.7% Dart 22.8% 2.7% 5.2%

Deft 23.6% 5.0% Deft 21.8% 4.6%

Dim 19.7% 0.8% 4.2% Dim 18.1% 0.8% 3.9%

Don 0.2% 22.6% 4.8% Don 0.2% 20.9% 4.4%

Total 44.8% 49.8% 19.7% Total 41.1% 46.0% 18.1%

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Round 4
Perceptual Map P Sabari Vishnu Dec. 31 2027

20

18

16

14

12
Camp
ARK2
Abby
Bat
Beetle
Cent
Size 10
Alan
Cat
Creak
Boat
ARK3
8 Bid

ARK5
Ate
Cone
6
Deft
Don

4
Clack
Dart
Apple
ARK4Dim
2

0
0 2 4 6 8 10 12 14 16 18 20
Performance

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised

Abby 9.1 11.0 10/23/2027 Bat 9.4 10.7 6/10/2027 Camp 9.1 11.0 12/20/2026

Alan 11.4 8.9 3/11/2028 Beetle 9.6 10.5 6/10/2027 Cent 10.0 10.1 12/6/2024

Apple 14.3 2.6 8/16/2027 Bid 12.1 7.3 12/14/2027 Clack 14.2 2.9 12/21/2027

Ate 17.5 5.8 8/16/2027 Boat 12.8 7.8 12/14/2027 Cone 17.6 5.7 12/21/2027

ARK2 9.1 11.0 10/23/2027 Creak 12.0 7.9 12/14/2027

ARK3 12.4 7.7 12/26/2027 Cat 11.7 8.3 12/14/2027

ARK4 14.3 2.6 8/16/2027

ARK5 17.5 5.8 8/16/2027

Digby

Name Pfmn Size Revised

Dart 14.9 2.7 9/13/2027

Deft 18.0 5.2 8/21/2027

Dim 15.3 2.4 8/13/2027

Don 17.8 4.9 8/21/2027

COMP-XM® INQUIRER Page 10

COOKIE SETTINGS
 TOP
Round 4
HR/TQM Report P Sabari Vishnu Dec. 31 2027
Human Resources Summary

Andrews Baldwin Chester Digby

Needed Complement 510 258 395 521

Complement 510 258 395 521

1st Shift Complement 292 199 301 335

2nd Shift Complement 218 59 94 186

Overtime % 0.1% 0.0% 0.0% 0.0%

Turnover Rate 6.6% 8.0% 6.1% 10.0%

New Employees 34 21 24 52

Separated Employees 276 158 135 77

Recruiting Spend $5,000 $2,500 $5,000 $0

Training Hours 80 40 80 0

Productivity Index 116.2% 117.4% 130.4% 100.0%

Recruiting Cost $202 $72 $144 $52

Separation Cost $1,380 $790 $677 $383

Training Cost $816 $206 $632 $0

Total HR Admin Cost $2,398 $1,068 $1,453 $435

Labor Contract Next Year

Wages $31.04 $31.04 $31.04 $31.04

Benefits 2,500 2,500 2,500 2,500

Profit Sharing 2.0% 2.0% 2.0% 2.0%

Annual Raise 5.0% 5.0% 5.0% 5.0%

TQM Summary

Andrews Baldwin Chester Digby

Process Mgt Budgets Last Year

CPI Systems $100 $1,250 $1,500 $0

Vendor/JIT $0 $1,250 $1,500 $0

Quality Initiative Training $0 $0 $0 $1,250

Channel Support Systems $10 $1,500 $0 $1,250

Concutrent Engineering $10 $0 $0 $1,250

UNEP Green Programs $0 $0 $1,500 $0

TQM Budgets Last Year

Benchmarking $0 $0 $1,500 $0

Quality Function Deployment Effort $10 $0 $0 $0

CCE/6 Sigma Training $0 $750 $0 $1,250

GEMI TQEM Sustainability Initiatives $0 $750 $0 $1,250

Total Expenditures $130 $5,500 $6,000 $6,250

Cumulative Impacts

Material Cost Reduction 11.78% 10.20% 6.07% 9.48%

Labor Cost Reduction 13.99% 4.39% 0.28% 14.00%

Reduction R&D Cycle Time 40.01% 0.00% 0.00% 40.01%

Reduction Admin Costs 60.02% 34.91% 60.02% 0.00%

Demand Increase 14.40% 10.57% 2.35% 12.78%

COMP-XM® INQUIRER Page 11

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 4
Annual Report Andrews C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size
of total assets for that year. Cash: Your end-of-year Cash $28,065 14.2% $28,775
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $24,979 12.6% $24,318
Inventories: The current value of your inventory
Inventory $3,556 1.8% $12,833
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $56,600 28.6% $65,926
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $240,240 121.5% $240,240
accumulated depreciation from your plant. Accts Accumulated Depreciation ($99,119) -50.1% ($83,103)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $141,121 71.4% $157,137
the company is obligated to pay during the next year
Total assets $197,722 100% $223,063
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $10,577 5.3% $13,193
this represents the total value of your bonds. Current Debt $20,000 10.1% $25,000
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $70,909 35.9% $70,909
The profits that the company chose to keep instead of
Total Liabilities $101,486 51.3% $109,102
paying to shareholders as dividends.
Common Stock $10,923 5.5% $12,653

Retained Earnings $85,312 43.1% $101,308

Total Equity $96,235 48.7% $113,961

Total Liab. & O. Equity $197,722 100% $223,063

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash Account during the
year. Cash injections appear as positive numbers and cash withdrawals as negative Net income (Loss) $69,425 $48,819
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $16,016 $16,016
When negative cash flows exceed positives, you are forced to seek emergency funding.
For example, if sales are bad and you find yourself carrying an abundance of excess Extraordinary gain/losses/writeoffs $0 $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable ($2,615) $2,470
flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting
cash and force you to beg for money to keep your company afloat. Inventory $9,276 ($12,039)

Accounts Receivable ($661) ($5,286)

Cash Flow Summary Andrews Net cash from operations $91,441 $49,980

150k Cash Flows from Investing Activities:

Plant Improvements $0 ($29,656)

100k Cash Flows from Financing Activities:

Dividends paid ($71,571) ($15,067)

50k
Sales of Common Stock $0 $0

Purchase of Common Stock ($15,580) ($7,000)

0
Cash from long term debt $0 $0

Retirement of long term debt $0 $0

-50k
Change in current debt (net) ($5,000) $4,700

Net cash from financing activities ($92,151) ($17,367)

-100k
Net change in cash position ($710) $2,957

Closing cash position $28,065 $28,775

-150k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 4
Annual Report Andrews C59559 Dec. 31 2027

2027 Income Statement

Product Name Abby Alan Apple Ate ARK2 ARK3 ARK4 ARK5 Total Common Size

Sales $26,187 $41,912 $47,528 $51,983 $22,437 $32,675 $39,606 $41,587 $303,915 100%

Variable Costs:

Direct Labor $1,781 $3,207 $8,486 $8,966 $1,555 $1,623 $7,376 $7,376 $40,370 13.3%

Direct Material $8,680 $13,654 $15,150 $16,437 $7,410 $10,494 $12,625 $13,149 $97,599 32.1%

Inventory Carry $380 $0 $0 $0 $47 $0 $0 $0 $427 0.1%

Total Variable $10,840 $16,861 $23,636 $25,403 $9,012 $12,116 $20,001 $20,526 $138,396 45.5%

Contribution Margin $15,347 $25,051 $23,891 $26,580 $13,425 $20,559 $19,605 $21,061 $165,519 54.5%

Period Costs:

Depreciation $3,772 $3,987 $1,456 $1,428 $1,687 $1,687 $1,000 $1,000 $16,016 5.3%

R&D $821 $1,000 $633 $633 $821 $1,000 $633 $633 $6,175 2%

Promotions $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $1,500 $12,000 3.9%

Sales $1,500 $1,500 $1,500 $1,500 $500 $500 $500 $500 $8,000 2.6%

Admin $280 $448 $508 $556 $240 $349 $423 $445 $3,249 1.1%

Total Period $7,873 $8,435 $5,597 $5,617 $4,748 $5,036 $4,056 $4,078 $45,440 15%

Net Margin $7,473 $16,616 $18,294 $20,964 $8,677 $15,523 $15,549 $16,984 $120,079 39.5%

Other $364 0.1%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred to
produce the product that was sold. Inventory Carry Cost: the cost to carry unsold goods EBIT $119,715 39.4%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $2,340 0.8%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $8,388 2.8%
budget for each product. Sales: The sales force budget for each product. Other: Charges
not included in other categories such as Fees, Write Offs, and TQM. The fees include Taxes $38,146 12.6%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $1,417 0.5%
consulting fees your instructor might assess. Write-offs include the loss you might
experience when you sell capacity or liquidate inventory as the result of eliminating a Net Profit $69,425 22.8%
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 year's current debt, including Variables Margins
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% 80%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.

60%

40%

20%

0%

Abby Alan Apple Ate ARK2

ARK3 ARK4 ARK5

COOKIE SETTINGS
 Profit History Market Share History
$80,000 50%

40%
$60,000

30%

$40,000

20%

$20,000
10%

$0 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROE History Asset Turnover History

80% 2.0

60% 1.5

40% 1.0

20% 0.5

0% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROS History ROA History

25% 40%

20%
30%

15%

20%

10%

10%
5%

0% 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 4
Annual Report Baldwin C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size

of total assets for that year. Cash: Your end-of-year Cash $36,170 21.4% $22,691
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $11,614 6.9% $10,112
Inventories: The current value of your inventory
Inventory $8,461 5% $20,788
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $56,245 33.3% $53,591
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $218,500 129.5% $218,500
accumulated depreciation from your plant. Accts Accumulated Depreciation ($106,042) -62.9% ($91,476)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $112,458 66.7% $127,024
the company is obligated to pay during the next year
Total assets $168,704 100% $180,615
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $5,609 3.3% $8,014
this represents the total value of your bonds. Current Debt $22,909 13.6% $25,606
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $69,776 41.4% $76,731
The profits that the company chose to keep instead of
Total Liabilities $98,294 58.3% $110,351
paying to shareholders as dividends.
Common Stock $41,130 24.4% $41,130

Retained Earnings $29,279 17.4% $29,134

Total Equity $70,409 41.7% $70,264

Total Liab. & O. Equity $168,704 100% $180,615

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash Account during the
year. Cash injections appear as positive numbers and cash withdrawals as negative Net income (Loss) $7,818 ($1,837)
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $14,567 $14,567
When negative cash flows exceed positives, you are forced to seek emergency funding.
For example, if sales are bad and you find yourself carrying an abundance of excess Extraordinary gain/losses/writeoffs ($595) ($380)
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable ($2,404) $1,692
flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting
cash and force you to beg for money to keep your company afloat. Inventory $12,327 ($20,788)

Accounts Receivable ($1,502) $830

Cash Flow Summary Baldwin Net cash from operations $30,210 ($5,916)

40k Cash Flows from Investing Activities:

Plant Improvements $0 ($11,400)

30k Cash Flows from Financing Activities:

Dividends paid ($7,673) $0

20k
Sales of Common Stock $0 $5,879

Purchase of Common Stock $0 $0

10k
Cash from long term debt $0 $0

Retirement of long term debt ($6,360) ($3,455)

0
Change in current debt (net) ($2,697) ($14,696)

Net cash from financing activities ($16,730) ($12,273)

-10k
Net change in cash position $13,479 ($29,588)

Closing cash position $36,170 $22,691

-20k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 4
Annual Report Baldwin C59559 Dec. 31 2027

2027 Income Statement

Product Name Bat Beetle Bid Boat Na Na Na Na Total Common Size

Sales $25,542 $25,873 $43,751 $46,138 $0 $0 $0 $0 $141,304 100%

Variable Costs:

Direct Labor $2,839 $2,711 $8,589 $7,950 $0 $0 $0 $0 $22,088 15.6%

Direct Material $11,356 $11,723 $17,395 $18,013 $0 $0 $0 $0 $58,487 41.4%

Inventory Carry $259 $223 $216 $316 $0 $0 $0 $0 $1,015 0.7%

Total Variable $14,455 $14,658 $26,200 $26,279 $0 $0 $0 $0 $81,591 57.7%

Contribution Margin $11,087 $11,215 $17,552 $19,860 $0 $0 $0 $0 $59,713 42.3%

Period Costs:

Depreciation $4,140 $4,600 $2,660 $3,167 $0 $0 $0 $0 $14,567 10.3%

R&D $446 $446 $966 $966 $0 $0 $0 $0 $2,824 2%

Promotions $1,300 $1,300 $1,300 $1,300 $0 $0 $0 $0 $5,200 3.7%

Sales $1,600 $1,600 $1,400 $1,400 $0 $0 $0 $0 $6,000 4.2%

Admin $309 $313 $530 $559 $0 $0 $0 $0 $1,712 1.2%

Total Period $7,795 $8,259 $6,856 $7,392 $0 $0 $0 $0 $30,302 21.4%

Net Margin $3,292 $2,956 $10,695 $12,468 $0 $0 $0 $0 $29,411 20.8%

Other $5,001 3.5%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred to
produce the product that was sold. Inventory Carry Cost: the cost to carry unsold goods EBIT $24,411 17.3%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $2,955 2.1%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $9,182 6.5%
budget for each product. Sales: The sales force budget for each product. Other: Charges
not included in other categories such as Fees, Write Offs, and TQM. The fees include Taxes $4,296 3%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $160 0.1%
consulting fees your instructor might assess. Write-offs include the loss you might
experience when you sell capacity or liquidate inventory as the result of eliminating a Net Profit $7,818 5.5%
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 year's current debt, including Variables Margins
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% 50%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.
40%

30%

20%

10%

0%

Bat Beetle Bid Boat NA

NA NA NA

COOKIE SETTINGS
 Profit History Market Share History
$15,000 40%

$10,000 30%

$5,000 20%

$0 10%

$-5,000 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROE History Asset Turnover History

20% 1.5

15%

10% 1.0

5%

0% 0.5

-5%

-10% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROS History ROA History

10% 10%

7.5%
7.5%

5%
5%

2.5%

2.5%
0%

0%
-2.5%

-5% -2.5%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 4
Annual Report Chester C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size

of total assets for that year. Cash: Your end-of-year Cash $32,993 15.1% $14,816
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $13,585 6.2% $12,007
Inventories: The current value of your inventory
Inventory $15,074 6.9% $21,006
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $61,652 28.1% $47,829
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $262,640 119.9% $262,640
accumulated depreciation from your plant. Accts Accumulated Depreciation ($105,218) -48% ($87,709)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $157,422 71.9% $174,931
the company is obligated to pay during the next year
Total assets $219,074 100% $222,760
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $7,554 3.4% $8,757
this represents the total value of your bonds. Current Debt $26,877 12.3% $23,894
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $87,352 39.9% $100,842
The profits that the company chose to keep instead of
Total Liabilities $121,783 55.6% $133,493
paying to shareholders as dividends.
Common Stock $57,594 26.3% $53,494

Retained Earnings $39,696 18.1% $35,773

Total Equity $97,290 44.4% $89,267

Total Liab. & O. Equity $219,074 100% $222,760

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash Account during the
year. Cash injections appear as positive numbers and cash withdrawals as negative Net income (Loss) $3,923 ($5,350)
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $17,509 $17,509
When negative cash flows exceed positives, you are forced to seek emergency funding.
For example, if sales are bad and you find yourself carrying an abundance of excess Extraordinary gain/losses/writeoffs ($1,050) $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable ($1,203) $2,611
flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting
cash and force you to beg for money to keep your company afloat. Inventory $5,932 ($17,258)

Accounts Receivable ($1,578) ($1,607)

Cash Flow Summary Chester Net cash from operations $23,534 ($4,095)

30k Cash Flows from Investing Activities:

Plant Improvements $0 ($46,880)

Cash Flows from Financing Activities:

20k
Dividends paid $0 $0

Sales of Common Stock $4,100 $16,566

Purchase of Common Stock $0 $0

10k
Cash from long term debt $0 $19,670

Retirement of long term debt ($12,440) $0

Change in current debt (net) $2,984 ($8,483)

0
Net cash from financing activities ($5,357) $27,753

Net change in cash position $18,177 ($23,222)

Closing cash position $32,993 $14,816

-10k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 4
Annual Report Chester C59559 Dec. 31 2027

2027 Income Statement

Product Name Camp Cent Clack Cone Creak Cat Na Na Total Common Size

Sales $17,336 $23,073 $34,444 $30,903 $27,257 $32,272 $0 $0 $165,286 100%

Variable Costs:

Direct Labor $1,731 $2,412 $7,083 $4,854 $6,144 $7,058 $0 $0 $29,282 17.7%

Direct Material $6,993 $10,280 $14,430 $11,423 $12,157 $13,276 $0 $0 $68,558 41.5%

Inventory Carry $126 $225 $522 $563 $191 $181 $0 $0 $1,809 1.1%

Total Variable $8,850 $12,918 $22,035 $16,840 $18,492 $20,515 $0 $0 $99,649 60.3%

Contribution Margin $8,487 $10,156 $12,409 $14,063 $8,765 $11,757 $0 $0 $65,637 39.7%

Period Costs:

Depreciation $3,833 $4,600 $2,040 $1,927 $2,635 $2,475 $0 $0 $17,509 10.6%

R&D $0 $0 $985 $985 $966 $966 $0 $0 $3,902 2.4%

Promotions $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $0 $0 $7,200 4.4%

Sales $1,000 $1,000 $2,400 $2,400 $900 $900 $0 $0 $8,600 5.2%

Admin $201 $267 $399 $358 $316 $374 $0 $0 $1,916 1.2%

Total Period $6,234 $7,067 $7,024 $6,870 $6,017 $5,915 $0 $0 $39,127 23.7%

Net Margin $2,252 $3,088 $5,385 $7,194 $2,748 $5,842 $0 $0 $26,510 16%

Other $5,342 3.2%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred to
produce the product that was sold. Inventory Carry Cost: the cost to carry unsold goods EBIT $21,168 12.8%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $3,440 2.1%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $11,569 7%
budget for each product. Sales: The sales force budget for each product. Other: Charges
not included in other categories such as Fees, Write Offs, and TQM. The fees include Taxes $2,156 1.3%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $80 0%
consulting fees your instructor might assess. Write-offs include the loss you might
experience when you sell capacity or liquidate inventory as the result of eliminating a Net Profit $3,923 2.4%
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 year's current debt, including Variables Margins
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% 60%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.
50%

40%

30%

20%

10%

0%

Camp Cent Clack Cone Creak

Cat NA NA

COOKIE SETTINGS
 Profit History Market Share History
$15,000 30%

25%
$10,000

20%
$5,000

15%

$0
10%

$-5,000
5%

$-10,000 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROE History Asset Turnover History

30% 1.5

20%

1.0

10%

0.5

0%

-10% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROS History ROA History

15% 12.5%

10%

10%
7.5%

5%
5%
2.5%

0%
0%

-2.5%

-5% -5%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

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Annual Report
TOP
Round 4
Annual Report Digby C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size
of total assets for that year. Cash: Your end-of-year Cash $24,462 16.7% $21,462
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $17,144 11.7% $14,335
Inventories: The current value of your inventory
Inventory $31,380 21.4% $26,448
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $72,986 49.7% $62,245
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $142,260 96.9% $142,260

accumulated depreciation from your plant. Accts Accumulated Depreciation ($68,372) -46.6% ($58,888)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $73,888 50.3% $83,372
the company is obligated to pay during the next year
Total assets $146,874 100% $145,616
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $10,054 6.8% $10,198
this represents the total value of your bonds. Current Debt $20,791 14.2% $21,019
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $28,319 19.3% $32,214
The profits that the company chose to keep instead of
Total Liabilities $59,164 40.3% $63,431
paying to shareholders as dividends.
Common Stock $10,685 7.3% $11,219

Retained Earnings $77,025 52.4% $70,967

Total Equity $87,710 59.7% $82,186

Total Liab. & O. Equity $146,874 100% $145,616

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash Account during the
year. Cash injections appear as positive numbers and cash withdrawals as negative Net income (Loss) $33,024 $19,727
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $9,484 $9,484
When negative cash flows exceed positives, you are forced to seek emergency funding.
For example, if sales are bad and you find yourself carrying an abundance of excess Extraordinary gain/losses/writeoffs ($223) $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable ($144) $2,425
flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting
cash and force you to beg for money to keep your company afloat. Inventory ($4,932) ($19,177)

Accounts Receivable ($2,809) ($1,589)

Cash Flow Summary Digby Net cash from operations $34,399 $10,869

40k Cash Flows from Investing Activities:

Plant Improvements $0 ($20,500)

Cash Flows from Financing Activities:

20k
Dividends paid ($23,591) ($4,864)

Sales of Common Stock $0 $0

Purchase of Common Stock ($3,908) ($2,191)

0
Cash from long term debt $0 $4,627

Retirement of long term debt ($3,671) $0

Change in current debt (net) ($228) ($9,195)

-20k
Net cash from financing activities ($31,398) ($11,622)

Net change in cash position $3,001 ($21,253)

Closing cash position $24,462 $21,462

-40k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
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Round 4
Annual Report Digby C59559 Dec. 31 2027

2027 Income Statement

Product Name Dart Deft Dim Don Na Na Na Na Total Common Size

Sales $58,100 $50,505 $46,827 $53,150 $0 $0 $0 $0 $208,582 100%

Variable Costs:

Direct Labor $11,540 $9,754 $7,732 $8,899 $0 $0 $0 $0 $37,924 18.2%

Direct Material $21,982 $20,537 $16,953 $20,001 $0 $0 $0 $0 $79,473 38.1%

Inventory Carry $1,157 $793 $839 $977 $0 $0 $0 $0 $3,766 1.8%

Total Variable $34,679 $31,083 $25,524 $29,877 $0 $0 $0 $0 $121,163 58.1%

Contribution Margin $23,421 $19,422 $21,303 $23,273 $0 $0 $0 $0 $87,419 41.9%

Period Costs:

Depreciation $2,571 $1,927 $2,380 $2,607 $0 $0 $0 $0 $9,484 4.5%

R&D $710 $645 $623 $645 $0 $0 $0 $0 $2,622 1.3%

Promotions $1,400 $1,400 $1,400 $1,400 $0 $0 $0 $0 $5,600 2.7%

Sales $1,100 $1,000 $1,000 $1,000 $0 $0 $0 $0 $4,100 2%

Admin $528 $459 $425 $483 $0 $0 $0 $0 $1,895 0.9%

Total Period $6,308 $5,430 $5,828 $6,134 $0 $0 $0 $0 $23,701 11.4%

Net Margin $17,113 $13,992 $15,475 $17,139 $0 $0 $0 $0 $63,718 30.5%

Other $6,140 2.9%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred to
produce the product that was sold. Inventory Carry Cost: the cost to carry unsold goods EBIT $57,578 27.6%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $2,308 1.1%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $3,428 1.6%
budget for each product. Sales: The sales force budget for each product. Other: Charges
not included in other categories such as Fees, Write Offs, and TQM. The fees include Taxes $18,145 8.7%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $674 0.3%
consulting fees your instructor might assess. Write-offs include the loss you might
experience when you sell capacity or liquidate inventory as the result of eliminating a Net Profit $33,024 15.8%
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 year's current debt, including Variables Margins
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% 50%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.
40%

30%

20%

10%

0%

Dart Deft Dim Don NA NA

NA NA

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 Profit History Market Share History
$40,000 30%

25%

$30,000

20%

$20,000 15%

10%

$10,000

5%

$0 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROE History Asset Turnover History

40% 2.0

30% 1.5

20% 1.0

10% 0.5

0% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

ROS History ROA History

20% 25%

20%
15%

15%

10%

10%

5%
5%

0% 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2027 2025 2026 2027

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