B Bruins

Industry 1
PLANT OPERATIONS REPORT
Year 15 (Projected)
PlantCapacityatthe End ofYear 14
New Construction (initiated in Year 14)
Capacity Purchased(atoogmng crY15)
Capacity Sold..()ff(at begrring crY15)
Capacity Available for Y15 Production
New Construction lniatiated in Year 15
Total Capacity Available for Year 16
Plant Upgrade -Online (Initiated pnorto Y15)
Options Pending (initiated 1n Y15)
Gross lnvestmentatthe End ofYear 14
+ Upgrade Options (ititicted in Yea 14)
+ New Construction (ititicted in 'rea" 14)
+ Capacity Purchased (ct begnting crY15)
- Capacity Sold..()ff (ct begnting crY15)
+Energy Efficiency lnitiatives(inY15)
Gross Investment in Year 15 Capacity .
-Accumulated Depreciation (through Y14)
- Current Depreciation (inctned in Y15)
Net Investment in Year 15 Capacity
Upgrade and Construction Work in Progress
Worker Productivity (pairs 1 worker 1 yea-)
Number of Workers Employed
2,000
0
2, 000 pairs
C, A
94,000
45,100
4,700
44,200
Compensation -Annual Base Wage 16.4
($000s perworhr) Incentive Pay 6. 3
Total Compensation ---zFf
Incentive Pay($ per non-rejected pair) 1.35
Cumulative Best-$ Per Worker
Practices $ Per Branded Pair
2,000
400
23.5
135
0
0
0 pairs
none
0
0
0
0
0.0 0.0
0.0 0.0
' ---o.o ---o.o
0.00 0.00
Pairs Produced --Regular (OCXJs)
Overtime (OCXJs)
Pairs Rejected (OCXJs)
_ll __ o'
4,000
0
204,000
70,600
10,200
123,200
0
1,100
0
1,100 pairs
56,000
2,663
2,800
50,537
2.9
4.5
-r.s
3.0
0.0

1.20 1.20 1.05
0
0
1.05
149 o I o 52
____ , ___ _
7,100
0
7,100 pairs
354,000
118,363
17,700
217,937
7,700
Net Production (OCXJs crpars after rejects)
Reject Rate (%of regj ar + OT prcducticn)
Number of Models Produced
2,313 0 0 . 4,637 0 ' 0 1,213 ! 6,950 1,213
S/Q Rating of Pairs Produced
Capacity Utilization (max ctftil or= 1Yk)
3.6% 0.0% 0.0%
350 0 0
7 stars 5 stars 0 stars
0.0%
0
0 stars
120.0% 0.0%
3.1% 0.0%
250
7 stars 5 stars
119.7%
0.0%
50
0 stars
4.1%.
100
5 stars
115.0%
3.3% 4.1%
119.0%
BRANDED PRODUCTION COSTS : Asia-!'acific : America
, "$000$."' ;.tfpar .$00(1$ .$fpar . 10005 1 .:$liOO!i"
Materials Standard 6,442 2.79 i 0 0.00 6,307 1.36 0 0.00 12,749 1.83
(sum or these= total materials cost)
Superior ' 17,848 7.72 0 0.00 48,679 10.50 0 0.00 66,527 9.57
Labor-- Regular (Wages +Incentive comp.) : 11,408 4.93. 0 0.00 9,195 1.98 ! 0 0.00. 20,603 2.96
Overtime Compensation 2,486 1.07 0 0.00 1,070 0.23 0
0.00.
3,556 0.51
Best Practices Training 486 0.21 0 0.00: 1,939 0.42 0 0.00 2,425 0.35
Plant Supervision 2,916 1.26 0 0.00 2,424 0.52 0 0.00 5,340 077
Enhanced Styling I Features 9,800 4.24 l 0 0.00 8,500 1.83 i 0 0.00 18,300 2.63
TQM /6-5igma Quality Program 1,600 0.69!
0 0.00 4,000 0.86 0 0.00 5,600 0.81
Production Run Set-Up 10,500 4.54 0 0.00 8,000 1.73 0 0.00. 18,500 2.66
Plant Maintenance 7,050 3.05 0 0.00 11,730 2.53; 0
0.00;
18,780 270
Depreciation 4700 0 0.00 10,200 _l1Q 0 0.00
1
14 900 __1Ji
Total Production Costs 75,236 32.53 0 0.00 112,044 24.16 0 0.00 187,280 26.95
Costs Incurred Due to Rejected Pairs 2,727 1.18 0 0.00 3,488 075 0 0.00 6,216 0.89
Company Operating Reports 2012 GLO-BUS Software, Inc. Page 1
B Bruins
Industry 1
Year 15 (Projected)
DISTRIBUTION AND WAREHOUSE REPORT
01 j North America ' Europe-Africa j Asia-Pacific j Latin America Company
ttrnct.dpus) Warehouse Warehouse Warehouse Warehouse Total -
Ending Inventory from Year 14
Inventory Clearance (at the beglnnlng ofY15)
Beginning lnventory(carrted overforY15 sale)
Incoming North America Plant ,
Shipments from
Europe-Africa Plant
Asia-Pacific Plant
Latin America Plant
Pairs Arailable for Sale (I nventory+ shipments)
Pairs Sold --Internet Segment
Wholesale Segment
Total Branded Sales
Required Inventory achieve delivery times)
Inventory Surplus (Shortfall)
Ending Inventory for Year 15
Model Availability (Weighted average)
SIQ Rating (weighted average)
Cost of Beginning Year 15 Inventory
+ Production Cost of Incoming Pairs
Exchange Rate Cost Adjustment
+Freight on Incoming Pairs
+ Import Tariffs on Incoming Pairs
- Cost or Ending Year 15 Inventory
Cost of Branded Pairs Sold in Year 15
Inventory Storage
Packing I Shipping --Internet
Wholesale
Warehouse Lease and Maintenance
Total Warehouse Operating Expenses
149
0
149
1,808
0
351
0
2,308
198
1 969
2,167
141
-43
141 pairs
334
4,805
67,291
0
2,510
0 0.00
4,558 32.33
70,048
75
1,980
3,454
32.32
1,000 --
6,509
102
0
102
0
0
2,019
0
2, 121
207
1,816
2,023
98
-91
3,074
48,785
0
4,038
8,076
2,956 --
61,017
51
2,070
3,224
30. 16
1,000 --
6,345 3.14
152 pairs
0
152
164
0
1,344
0
1,660
154
1,432
1,586
74
-13
27.04
25.07
0.00
1. 11
0.87
2,002 27.05
42,902
116
1,540
2,648
27.05
1,000 --
5,304
244 pairs
0
244
341
0
923
0
1,508
128
1,011
1' 139
58
311
7,995
33,394
0
2,528
5,538 4.38
12,101 32.79
37,354
212
1, 280
2,017
32.80
1,000 --
4,509 3.96
647 pairs
0
647
2,313
0
4,637
0
7,597
687
6,228
6,915
371
164
30.89
26.95
0.00
1.55
14,926 2. 15
21,617 31 .70
211,321
454
6,870
30.56
11 ,343 1.64
4000
22,667 3.28
INVENTORY CLEARANCE I North America j Europe-Africa 1 Asia-Pacific j' Latin America I Overall
I ;.s t p.-: 1 soxw.!
1
' Si plir: Ut pa&r - 1$/ ptlr.-
Net Revenues from Pairs Cleared
Direct Costs- Prod, Freight, & Tariffs
of Pairs Inventory Storage
Cleared Packing I Shipping
Margin Over Direct Costs
Company Operating Reports
0 0.00 0 0.00 0 0.00
0 0.00 0 0.00 0 0.00
0 0.00 0 0.00 0 0.00
0 0.00 0 0.00 0 0.00
------ ------ ------
0 0.00 0 0.00 0 0.00
2012 GLO-BUS Software, Inc.
0 0.00 0 0.00
0 0.00 0 0.00
0 0. 00 0 0.00
0 0.00 0 0.00
------ ----
0 0.00 0 0 00
Page 2
B Bruins
Industry 1
Year 15 (Projected)
MARKETING AND ADMINISTRATIVE REPORT
MARKETING EXPENSES ' North America ! Europe-Africa I Asia-Pacific I Latin America Overall
.... JI'r'p.if) . SDIXW'i IITpWI l .xlll'l
Internet-- Advertising1 914 4.62 ' 972 4.70 ; 680 4.42 ' 382 2.98 ' 2,948 4.29
Web Site Maintenance 1,435 7.25 ; 1,500
7.25 .
1' 117 7.25 . 928 7.25 4,980 7.25
Celebrrty Endorsements2i ___]__ 0.29 60
0.29 . 45 0.29 37 0.29 . 199 0.29
Total Internet 2,406 12. 15 2,532 12.23 1,842 11 .96 1,347 8,127 11 .83
...
Wholesale -Advertising1 9,086 4.61 8,528 4.70 ; 6,320 4.41 3,018 26,952 4.33
Rebate Redemption 788 0.40 , 1,362
0.75 ;
1,718 1.20 . 404 4,272 0.69
Retailer Support 2,232 1.13 1,777 0.98 1,085 0.76 977 6,071 0.97
On-Time Delivery 2,954 1.50 ' 2,724 1.50 2,148 1.50 1,517 9,343 1.50
Celebrrty Endorsements2: 570 0.29 ' 525 0.29 414 0.29 292

0.29
Total Wholesale 15,630 7.94 : 14,916 8.21 ; 11,685 8.16 48,439 7.78
'""' ---- ' . .... -"" .... ------ ... """" - . '
1 advertising expendilums are allocated to Internet and wholesale seg- 2 Total expenditures rorcelebrtty endorsements are allocated to the lntemet and whole-
ments based on each segmenfs percentage or total branded pairs sold In the region. sale segments based on each segmenfs percentage or total branded pairs sold.
ADMINISTRATIVE EXPENSES !North America ! I Asia-Pacific I Latin America I Overall
l talOill Ut pln I SBIIJft U/ patl II PI!ft Ul,..
General Administration
Other Corporate Overhead
Total Administrative Expenses
654
: 2,225
2,879
0.30 611 0.30 ; 479
1.03 2077
1.33 2,688 1.33 2,108
Total company administrative expenses are allocated to each region based on the region's percentage or total branded pairs sold.
Production -Materials- Standard
Costs Superior
Labor-- Regular
Overtime
Styling I Feab.lres
Production Run Set-Up
Other Allocated Costst
Total Production Costs
Pairs Produced(OOOsofpairsafterrejects)
2
Shipments To-- N.A. Warehouse
(OOOs of pairs) E-A \IVa rehouse
A-P V\larehouse
L.A. Warehouse
PRIVATE-LABEL REPORT
0.00
0.00
000
0.00
0.00
0.00
000
0 0.00
0 pairs
0 pairs
0
0
0 pairs
3,781
8,568
2,486
273
2,500
625
5,976
24,209
0.30 2,088
1 . 03 __2J_QQ_
9, 188
3,781
8,568
2,486
273
2,500
625
5,976
24,209
0.30
1.03
1.33
3.12
7.06
2.05
0.23
2.06
0.52
4.93
19.96
596 pairs
0
0
617patrs
1 Best practices. plant supervision. TQM/6-slgma. plant maintenance. and deprecla- 2 For more production Info (mjecled pairs , reject rate. number or models.
lion cost allocations based on percentage or total pairs produced before rejects. and S/0 rating) see the Production Statistics section or the Plant Operations Report .
Gross Private-Label Revenues
Exchange Rate Adjustment
Net Private-Label Revenues 14,960 0 0.00 ' 0 15, 117 30,077
Direct- Production Costs 11 ,895 19.96 0 0.00 0 12,314 19.96 24,209 19.96
Costs Exchange Rate Adjusbnent 0 0.00 ; 0 0.00 ' 0 0 0.00 0 0.00
Freight
1' 192
2.00 0 0.00 . 0 617 1.00 1,809 1.49
Import Tariffs 0 000 0 0.00 0 0 0.00 0 0.00
Packing I Shipping 596 1.00 0 0.00 0 617 1.00

1.00
Margin Over Direct Costs 1,277 2.14 0 0.00 0 0.00 1,569 2.54 2,846 2.35
Company Operating Reports Copynght 2012 GLO-BUS Softvvare, Inc. Page 3
8 Bruins
Industry 1
Year 15 (Projected)
INCOME STATEMENT
STATEIVENT, North Americaj EuroP.e-Afric_a: Asia..Pacific , latin America i Overall
: $000& $/pair ; sooos i ... $l!WS .. . $/pair ; $01JCls $/par. ! :$000$ .. '$/par
Gross Revenues --Internet
Wholesale
Private-Label
13,464 68.00 14,076 68.00: 10,472 68.00. 8,704 68.00.
..
: II
110,264 56.00 102,150 56.25 70,598 49.30 53,987 53.40 336,999 54.11
14 960 25.1 o. ___ o o.oo .. ___ o o.oo 15,117 24.50' 30,077 24.80
Gross Revenues from Footwear Sales 138,688 50.19 116,226 57.45 81,070 51.12 77,808 44.31 413.792 50.91
Exchange Rate Adjustment o.o ___ o ___ o ___ o ___ o .....QJ!Q.
Net Revenues from Footwear Sales i 138,688 50.19 116,226 57.45: 81,070 51.12 77,808 44.31 413.792 50.91
83,135 30.09 61,017 30.16 42,902 27.os:so,285 28.64237,339 29.20
osts Warehouse Expenses 7,105 2.57 6,345 3.14 5,304 3.34: 5,126 2.92. 23,880 2.94
Marketing Expenses 18,036 6.53 17,448 8.62. 13,527 8.53 7,555 4.30 56,566 6.96
Administrative Expenses 2,879 ___l.Qi 2,688 2,108 ___!2U ___!Jl
Operating Profit (Loss) 27,533 9.96 28.728 14.20 17,229 10.86 i 13,329 7.59 86,819 10.68
113 0.01
PROFtTASIUTY & PAYOUT
Interest Income (Expenses)
Other Income (Expenses)
1
Pre-Tax Profit(Loss)
Income Taxes 2
0 0.00
Earnings Per Share
Dividends Per Share
$4.71
$0.00
$5.18
$0.00
Net Profit (Loss)
86,932 10.70
. 26, 080 _l11.
' 60,852 7.49
1 This Item Includes any chart table contrtbutlons and/or Instructor-Imposed nnes 2 The Income tax rate Is 30%. If a net I oss was recorded In Y14, the Joss Is carried for-
(appeartng as negative) and/or Instructor-awarded refunds (appeartng as positive). ward and may offset some or all taxable Y15 pront and reduce Y15 Income taxes.
REVENUE-COST-PROAT PERFORMANCE IN THE WHOLESALE AND INTERNET SEGMENTS
Revenues from Internet Sales
Customer-Paid Shipping Fees
Gross lnternetRevenues
Exchange Rate Adjustment
Net Internet Revenues
Cost of Pairs Sold
osts Warehouse Expenses
Marketing Expenses
Administrative Expenses
Operating Profit (Loss)
Pairs Sold (OCXJs)
Market Share
Operating Profit Margin
Gross Wholesale Revenues
Exchange Rate Adjustment
NetWholesale Revenues
Cost of Pairs Sold
osts Warehouse Expenses
Marketing Expenses
Administrative Expenses
Operating Profit (Loss)
Pairs Sold(OOJs)
Market Share
Operating Profit Margin
Company Operating Reports
13,464 68.00 14,076 68.00 l 10,472 68.00 ! 8,704 68.00. 46,716 68.00
__ o ......Q2Q. 0 0.00
0 0.00 0 0.00 0 0.00
------ ------ ------
13,464 68.00. 14,076 68.00 10,472 68.00 8,704 68.00: 46,716 68.00
0.0 0.00: 0 0.00 0 0.00 0 0.00 0 0.00
------ ------ ------ ------ ------
13,464 68.00. 14,076 68.00. 10,472 68.00 8,704 68.00! 46,716 68.00
6,400 32.32' 6,243 30.16 4,166 27.05 4,198 32.80 . 21,007 30.58
2,078 10.49 2,178 10.52 . 1,648 10.70 1,416 11.06 7,320 10.66
2,406 12.15 2,532 12.23 1,842 11.96 . 1,347 10.52 8,127 11.83
263 1.33 275 1.33 205 1.33 170 1.33 913 1.33
------ ------ ------ ------
2,317 11.70 2,848 13.76 2,611 16.95 1,573 12.29 9,349 13.61
174 198 185 207 130 154 112 128 601 687
22.8% 21.9%, 23.9% 22.6%! 21.9% 21.1%' 18.8% 17.7% 22.2% 21.1%
15.6% 17.2% 18.6% 20.2%: 22.6% 24.9% 16.6% 18.1%; 18.2% 20.0%
56.00 : 110,264
0.0 0.00
------
. 110,264 56.00
63,648 32.33
4,431 2.25
15,630 7.94
...J.ll
23,939 12.16
1,961 1,969
26.0% 24.7%
21.9% 21.7%
102,150 56.25 : 70,598 49.30 53,987 53.40 336,999 54.11
0 0.00
------
102,150 56.25
54,774 30.16
4,167 2.29
14,916 8.21

25,880 14.25 :
1,815 1,816.
23.8% 22.6%
25.4% 25.3%
0 0.00 0 0.00 i 0 0.00
------ ---- ----
70,598 49.30 . 53,987 53.40 336,999 54.11
38,736 27.05 33,156 32.80. 190,314 30.56
3,656 2.55 3,093 3.06 15,347 2.46
11,685 8.16 6,208 6.14 48,439 7.78
...J.ll
8,275
14,618 10.21 10, 187 10.08 74,624 11.98
1,292 1,432. 999 1,011 6,067 6,228
21.9% 22.3%. 17.0% 15.8% 23.0% 22.1%
19.6% 20.7%. 18.7% 18.9%. 21.9% 22.1%
Copyright 2012 GLO-BUS Software, Inc. Page 4
Year 15 (Projected) B Bruins
Industry 1
BALANCE SHEET AND CASH R.OW REPORT
BALANCE SHEET
ASSETS
--- - - ---- - --- -- ----
Cash On Hand
Accounts Receivable (see Note 1)
Footwear Inventories
Total Current Assets
Net Plant lnvesbnent (see Note 2)
Construction Work in Progress
Total Fixed Assets
Total Assets
SOOOs
68,475
103,448
21 617
193 ,540
217, 937
7,700
225,637
419, 177
---------:---- - - ------ --------
UABIUTIES
Accounts Payable csee Note 3)
Overdraft Loan Payable (see Note 4)
1-Yea r Bank Loan Payable (see Note 5)
Current Portion of Long-Term Loans (see Note 6)
Total Current Liabilities
Long-Term Bank Loans Outstanding (see Note 7)
Total Liabilities
SHAREHOLDER EQUITY
Common Stock(seeNote8)
Additional Capital (see Note 9)
Retained Earnings (see Note 10)
Total Shareholder Equity
11,750 0
0
186,672 +00,853
- ---- -
335,418 +00,853
Return on Average Equity for Year 15 (see Note 11)
22, 906
0
22, 906
11,750
136, 996
247, 525
396,271
16.6%
: Balance Sheet Nates (ell clouer 111d s11tt11 r1g.n.s .,. In thOuaandsJ
Nol81 : Oft he $413.792 net revenues reported In the Y15 Income statement , 25%
have not been collected from cus tomer.; twill be collected In Y16).
Nol8 2: For more details on plant Investment see the Plant Investment section or
the Plant Operations Report.
Nol8 3: Of the $91.6241n materi als used for footwea r production In Y15. 25%
have not been paid for twill be paid for In Y16).
Nol8 4: Loans for overdrafts carry an Interest rate 2% above the 1-year loan rate and
are Incurred automatically to prevent a negative cash balance .
No18 5: lhe prevail ing 1-year loan Interest rate In Year 15 was 6.9%.
Nol8 6: lhls Item represents the prtnclpal protion or all outstanding 5-year and
10-year bank loans due to be repaid In Year 16.
No18 7: Long4erm bank loans outstanding:
Loan Initial 011glnal Interest
Number Year Prtnclpal Rate
1 Y7 115,000 8.5%
2 Y9 24 .000 7.5%
3
4
5
6
7
8
9
10
11
12
13
14
15
16
OUt- Annual Year 16
standing Principal Interest
Princ ipal P!!)'ment Payable
10-Yr
5-Yr
Nol8 8: lhere are 11 .750 shares Is sued and outstanding at a par value or $1 .00 per
share . lhe authorized maximum number or shares Is 40 million .
Nol8 9: Additional Capital represents the amount over and above par value that
shareholders have paid to purchase new shares or stock.
Note 10: Retained Earnings Is a summati on or all arter4ax profits the company has
earned I hat were not distributed to shareholder.; In the form or dividends .
Note 11: lhe formula fo r Return on Average Equity Is :
Arter-Tax Profit
(Beginning Equit y +Ending Equity)+ 2
CASH FLOW STATEMENT - "
CASH AVAILABLE IN YEAR 15
Beginning Cash Balance
Cash Receipts from Sales (see Note 1)
Inflows Bank Loans 1-Year
5-Year
10-Year
Stock Issues (O shares Issued)
Sale of Existing Plant Capacity
Loan to Cover Overdrafts
Interest on Y14 Cash Balance
Total Available Cash from All Sources
CASH OUTLAYS IN YEAR 15 -
SOOOs
2,893
410, 319
0
0
0
0
0
0
11 3
413,325
.sooos
-- -- --- ---------- ..........___________ -- - -
Payments to Materials Suppliers (s ee Note 2)
Production Expenses (see Note 3)
Distribution and Warehouse Expenses
Marketing and Administrative Expenses
Capital - - Plant Upgrade Options Initiated
Outlays Purchase of Used Plant Capacity
Construction of New Capacity
Energy Efficiency Initiatives
Repayment of Principal-Overdraft Loan
on Bank Loans (see Note4) 1-Year Loan
5-Year Loans
10-Year Loans
Interest Payments Overdraft Loan
Bank Loans
Stock Repurchase (0 shares repurchased)
Income Tax Payments
Dividend Payments to Shareholders
Charitable Contributions
Total Cash Outlays
Net Cash Balance (at lhe end or Year 15)
91 , 790
102 ,164
51,363
65, 753
7,700
0
0
0
0
0
0
0
0
0
0
26,080
0
0
344, 850
68,475
Note 1: Receipts from Sales represents 75% of Year 15 revenues and 25% or
Year 14 revenues due to a 3-month lag In recei vables collections .
Note 2: Payments to Materials Suppliers represents 75% of the cost ofmatertals
used rorY15 production and 25% of the cost or used for Y14
production due to a 3-month lag In payments to suppli ers .
Note 3: Production Expenses Include all Y15 production-related expenses
(adjusted rorthe exchange rate effects of shipping to regional warehOuses)
except for deprec iati on (Which Is a non-cash accounting charge).
Nol8 4: Overdrart and 1-year loans received In Year 14 were repaid In-full In Year 15.
Interest on an overdraft loan received In Y14 would also be paid In Year 15.
SELECTED FINANCIAL STATISTICS
Credit --Interest Coverage (operating profit+ Interest exp.100.00
Rating Debt-To-Assets debt+ total assets ) 0. 00
Measures Default Risk Ratio (free cash flow+ prtn. pmnts.) 10. 00
Default Risk Rating
1
Low
Credit Rating (at the end or Year 15) A+
Current Ratio (current as sets+ current liabilities)
Operating Profit Margin (operating pront + net sal es revenues)
Net Profit Margin (arter-tax pront +net sales revenues)
Dividend Payout (dividend per share+ eamlngs per share)
Free Cash Flow (after-tax profit + (depreciation- dlvldendsD
Total Principal Payments ($000s to be paid In Year 16)
8.45
21. 0%
14.7%
0.0%
78,552
0
1 A default ratio or 3.00 or higher results in a Low default rating . 1.00 to 3.00
res ults In a Medium rating. and below 1.00 res ull s In a High rating.
Company Operating RefX)rtS Copyright 201 2 GLO-BUS Software , Inc . Page 5