Round: 2

Dec. 31, C102618

2020
Andrews Baldwin Chester
Aditi Argal Srishti Garg Neer Chhajer
Arushi Chaturvedi Priyanka Israney Shobhana Mohanty
RV NARAYANAN Shreya Maitra Swapnil Mohgaonkar
Rajashekar R Alpi Parwal Rahul Mukherjee
Mrugesh Trivedi Omansh Sharma Srinithi S
Rutuja Tupe Prashansa Srivastav Saumya Sharad

Digby Erie Ferris

Nikhil Kaki
Anandita Mulukutla
HARSHAL RAJVANSHI
Vishal Srivastava

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 5.8% -4.1% 4.3% 2.2% 6.8% 8.0%
Asset Turnover 1.42 1.11 0.97 1.20 1.02 1.39
ROA 8.2% -4.6% 4.2% 2.6% 6.9% 11.1%
Leverage 1.7 2.0 1.9 1.9 2.0 2.0
ROE 13.9% -9.0% 8.1% 5.0% 14.0% 21.8%
Emergency Loan $0 $0 $1,720,237 $0 $0 $0
Sales $161,902,693 $104,007,707 $123,875,716 $115,900,417 $131,657,170 $153,280,136
EBIT $19,624,222 ($1,187,788) $14,963,449 $9,440,504 $21,180,171 $24,900,732
Profits $9,411,372 ($4,264,090) $5,384,028 $2,542,715 $8,941,149 $12,315,589
Cumulative Profit $24,125,655 ($1,484,999) $15,444,054 $7,538,510 $19,579,779 $24,386,304
SG&A / Sales 13.8% 16.0% 11.2% 19.6% 9.1% 12.2%
Contrib. Margin % 31.3% 22.2% 32.5% 35.0% 31.3% 31.9%

CAPSTONE ® COURIER Page 1

 Round: 2
Stock & Bonds C102618 Dec. 31, 2020
Stock Market Summary
MarketCap
Company Close Change Shares Book Value EPS Dividend Yield P/E
($M)
Andrews $58.58 $7.37 2,000,000 $117 $33.94 $4.71 $0.00 0.0% 12.4
Baldwin $14.75 ($10.66) 2,145,970 $32 $22.03 ($1.99) $0.00 0.0% -7.4
Chester $38.46 ($3.31) 2,346,531 $90 $28.23 $2.29 $2.50 6.5% 16.8
Digby $30.26 $10.44 2,000,504 $61 $25.64 $1.27 $0.00 0.0% 23.8
Erie $50.49 $7.59 2,128,085 $107 $29.96 $4.20 $1.87 3.7% 12.0
Ferris $60.43 $14.50 2,000,000 $121 $28.30 $6.16 $1.92 3.2% 9.8

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
12.5S2022 $13,900,000 12.2% 102.22 BBB 12.5S2022 $13,900,000 12.4% 101.02 B
14.0S2024 $20,850,000 12.9% 108.65 BBB 14.0S2024 $20,850,000 13.2% 106.39 B
Baldwin Erie
12.5S2022 $13,900,000 12.4% 100.51 B 12.5S2022 $13,900,000 12.5% 100.17 B
14.0S2024 $20,850,000 13.3% 105.44 B 14.0S2024 $20,850,000 13.4% 104.82 B
Chester 11.7S2030 $2,866,726 12.2% 96.11 B
12.5S2022 $13,900,000 12.4% 100.67 B Ferris
14.0S2024 $20,850,000 13.2% 105.76 B 12.5S2022 $5,093,124 12.4% 100.67 B
11.3S2029 $7,124,000 11.8% 95.75 B 14.0S2024 $20,850,000 13.2% 105.76 B
11.6S2030 $5,000,000 11.9% 97.19 B

Next Year's Prime Rate8.00%

CAPSTONE ® COURIER Page 2
 Round: 2
Financial Summary C102618 Dec. 31, 2020
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $9,411 ($4,264) $5,384 $2,543 $8,941 $12,316
Adjustment for non-cash items:
Depreciation $8,724 $7,588 $10,847 $8,347 $8,455 $6,060
Extraordinary gains/losses/writeoffs ($18) $0 ($27) $0 ($539) ($812)
Changes in current assets and liablilities
Accounts payable $521 ($1,882) $2,316 ($3,902) $810 $1,751
Inventory ($8,652) $25,312 ($6,475) $28,859 $254 $3,140
Accounts Receivable ($100) ($992) ($321) ($1,234) ($970) ($2,621)
Net cash from operations $9,886 $25,762 $11,723 $34,612 $16,950 $19,833

Cash flows from investing activities

Plant improvements(net) ($13,406) $0 ($33,676) ($4,700) ($10,792) ($8,910)
Cash flows from financing activities
Dividends paid $0 $0 ($5,866) $0 ($3,972) ($3,837)
Sales of common stock $0 $0 $5,816 $10 $0 $0
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $0 $0 $5,000 $0 $2,867 $0
Early retirement of long term debt ($5,000) $0 ($5,000) $0 $0 ($824)
Retirement of current debt $0 ($1,534) $0 ($23,899) ($11,359) ($11,359)
Cash from current debt borrowing $0 $0 $0 $0 $17,083 $19,719
Cash from emergency loan $0 $0 $1,720 $0 $0 $0

Net cash from financing activities ($5,000) ($1,534) $1,670 ($23,889) $4,618 $3,699

Net change in cash position ($8,520) $24,229 ($20,283) $6,023 $10,777 $14,623
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $8,507 $24,229 $0 $6,023 $34,519 $35,579
Accounts Receivable $13,307 $8,549 $10,182 $9,526 $10,821 $12,598
Inventory $16,073 $47 $11,630 $10,286 $4,595 $4,404
Total Current Assets $37,887 $32,824 $21,812 $25,834 $49,936 $52,581

Plant and equipment $130,856 $113,826 $162,700 $125,200 $126,818 $90,900

Accumulated Depreciation ($54,487) ($53,110) ($56,807) ($54,313) ($47,128) ($32,940)
Total Fixed Assets $76,369 $60,716 $105,893 $70,887 $79,690 $57,960

Total Assets $114,256 $93,540 $127,705 $96,721 $129,625 $110,541

Accounts Payable $9,695 $4,572 $10,941 $3,719 $7,368 $8,276

Current Debt $1,932 $6,950 $3,643 $6,950 $20,892 $19,719
Long Term Debt $34,750 $34,750 $46,874 $34,750 $37,617 $25,943
Total Liabilities $46,377 $46,272 $61,458 $45,419 $65,877 $53,938

Common Stock $18,360 $23,360 $31,276 $18,370 $22,747 $18,360

Retained Earnings $49,519 $23,909 $34,971 $32,932 $41,001 $38,244
Total Equity $67,879 $47,268 $66,247 $51,302 $63,748 $56,603

Total Liabilities & Owners Equity $114,256 $93,540 $127,705 $96,721 $129,625 $110,541

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $161,903 $104,008 $123,876 $115,900 $131,657 $153,280
Variable Costs(Labor,Material,Carry) $111,232 $80,939 $83,662 $75,343 $90,446 $104,356
Depreciation $8,724 $7,588 $10,847 $8,347 $8,455 $6,060
SGA(R&D,Promo,Sales,Admin) $22,266 $16,668 $13,815 $22,770 $11,972 $18,763
Other(Fees,Writeoffs,TQM,Bonuses) $57 $0 $589 $1 ($396) ($800)
EBIT $19,624 ($1,188) $14,963 $9,441 $21,180 $24,901
Interest(Short term,Long term) $4,850 $5,372 $6,511 $5,449 $7,144 $5,567
Taxes $5,171 ($2,296) $2,958 $1,397 $4,913 $6,767
Profit Sharing $192 $0 $110 $52 $182 $251
Net Profit $9,411 ($4,264) $5,384 $2,543 $8,941 $12,316

CAPSTONE ® COURIER Page 3

 Round: 2
Production Analysis C102618 Dec. 31, 2020

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 1,577 306 8/19/2020 1.9 17000 6.4 13.6 $29.00 $10.51 $7.63 37% 0% 5.0 1,801 97%
Acre Low 2,442 0 6/30/2020 3.5 15000 3.5 16.5 $21.00 $7.16 $8.49 26% 76% 6.0 1,401 174%
Adam High 739 59 11/14/2020 1.4 25000 9.3 10.5 $38.00 $15.76 $9.39 35% 0% 3.5 900 88%
Aft Pfmn 594 0 9/12/2020 1.6 27000 10.0 15.6 $34.00 $14.82 $9.39 30% 0% 3.5 600 99%
Agape Size 489 412 6/6/2020 1.9 20000 4.4 10.8 $34.00 $12.22 $10.03 28% 17% 3.5 600 116%

Baker Trad 816 0 5/25/2020 2.8 17500 7.0 12.8 $25.00 $11.32 $8.22 24% 0% 4.0 1,800 3%
Bead Low 2,472 3 1/20/2021 3.8 14000 3.5 15.6 $19.50 $7.31 $8.51 17% 78% 5.0 1,401 177%
Bid High 315 0 8/8/2020 2.0 24000 10.6 11.6 $37.00 $15.62 $9.39 34% 0% 3.0 900 19%
Bold Pfmn 462 0 5/10/2020 1.8 26500 10.4 14.2 $32.00 $15.30 $9.39 22% 0% 3.0 600 61%
Buddy Size 293 0 2/28/2020 2.7 20000 5.8 10.5 $30.50 $12.83 $9.39 28% 0% 3.0 600 12%

Cake Trad 1,521 220 3/29/2020 2.1 18900 5.7 14.2 $29.00 $10.46 $7.70 35% 0% 5.0 2,100 97%
Cedar Low 1,354 0 4/2/2020 2.3 13000 2.1 17.2 $18.00 $5.59 $7.22 27% 0% 4.0 1,500 97%
Cid High 495 172 6/3/2020 1.6 23000 9.0 11.0 $40.00 $14.78 $9.26 37% 0% 5.0 1,150 56%
Coat Pfmn 342 0 3/8/2020 2.0 26000 9.8 15.5 $34.00 $14.42 $9.38 29% 0% 4.0 600 55%
Cure Size 453 51 3/9/2020 2.0 20000 4.0 10.5 $34.00 $12.31 $9.26 35% 0% 3.5 600 77%
Cobalt High 232 84 8/14/2020 0.4 25000 11.2 13.2 $37.00 $15.65 $11.30 24% 100% 3.5 440 72%

Daze Trad 1,147 290 8/2/2020 1.9 15800 5.7 14.3 $29.50 $0.00 $0.00 34% 0% 4.0 1,900 0%
Dell Low 813 0 3/29/2020 3.7 12840 1.7 18.3 $21.00 $4.80 $7.07 41% 0% 5.0 1,400 58%
Dixie High 650 0 9/22/2020 1.4 23500 9.8 10.2 $39.50 $15.69 $9.42 37% 0% 3.5 1,050 49%
Dot Pfmn 587 113 9/1/2020 1.7 27000 10.3 15.5 $34.50 $15.03 $9.42 29% 0% 3.5 700 61%
Dune Size 554 95 9/14/2020 1.7 21000 4.7 9.7 $34.50 $13.28 $9.42 35% 0% 3.5 600 91%

Eat Trad 1,540 192 4/7/2020 2.1 15500 5.5 14.5 $27.00 $9.21 $7.72 35% 25% 7.0 1,400 124%
Ebb Low 2,772 0 1/15/2020 6.6 12000 3.0 17.0 $19.50 $5.78 $7.27 32% 100% 6.0 1,500 198%
Echo Trad 1,112 0 7/19/2020 1.4 16000 6.4 13.6 $27.00 $10.21 $8.78 26% 17% 5.0 900 116%
Edge Pfmn 77 0 6/29/2016 4.5 25000 9.4 15.5 $34.00 $13.87 $11.63 28% 99% 3.0 1 198%
Egg Size 99 58 12/23/2020 2.3 19000 6.9 13.4 $34.00 $11.44 $9.40 32% 0% 3.0 600 17%

Fast Trad 1,061 187 4/21/2020 2.1 14000 5.5 14.5 $29.00 $8.76 $9.41 34% 44% 4.0 800 142%
Feat Low 1,386 0 7/27/2023 6.6 13000 3.0 17.0 $22.00 $6.08 $8.72 32% 100% 6.0 700 198%
Fist High 937 15 12/21/2020 1.2 25000 10.2 9.8 $39.00 $16.52 $11.23 32% 70% 3.0 600 168%
Foam Pfmn 690 0 11/10/2020 1.5 27000 11.8 14.2 $34.00 $16.30 $8.53 29% 8% 4.0 650 107%
Fume Size 943 22 11/8/2020 1.5 19000 5.4 8.4 $34.00 $13.67 $9.52 33% 50% 4.0 600 149%
Fox 0 0 12/11/2020 0.0 25000 11.0 9.0 $39.00 $0.00 $0.00 0% 0% 5.5 500 0%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C102618 Round: 2
Dec. 31, 2020

Traditional Statistics
Total Industry Unit Demand 8,809
Actual Industry Unit Sales |8,809
Segment % of Total Industry |30.4%

Next Year's Segment Growth Rate |9.2%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $19.00 - 29.00 23%
3. Ideal Position Pfmn 6.4 Size 13.6 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
Able 18% 1,568 8/19/2020 6.4 13.6 $29.00 17000 1.89 $2,000 100% $1,800 60% 46
Cake 17% 1,507 3/29/2020 5.7 14.2 $29.00 18900 2.06 $1,250 73% $1,350 49% 36
Eat 15% 1,339 4/7/2020 5.5 14.5 $27.00 15500 2.09 $1,050 63% $1,085 54% 31
Daze 13% 1,147 8/2/2020 5.7 14.3 $29.50 15800 1.85 $2,500 88% $2,500 58% 33
Echo 12% 1,061 7/19/2020 YES 6.4 13.6 $27.00 16000 1.40 $1,050 57% $775 54% 29
Fast 12% 1,061 4/21/2020 5.5 14.5 $29.00 14000 2.08 $900 59% $1,235 48% 24
Baker 7% 608 5/25/2020 YES 7.0 12.8 $25.00 17500 2.85 $1,900 95% $1,900 69% 36
Bead 5% 416 1/20/2021 3.5 15.6 $19.50 14000 3.82 $1,200 65% $1,200 69% 3
Buddy 1% 68 2/28/2020 YES 5.8 10.5 $30.50 20000 2.72 $950 50% $900 69% 6
Acre 0% 32 6/30/2020 YES 3.5 16.5 $21.00 15000 3.55 $2,000 89% $2,000 60% 0

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C102618 Round: 2
Dec. 31, 2020

Low End Statistics

Total Industry Unit Demand 11,180
Actual Industry Unit Sales |11,180
Segment % of Total Industry |38.6%

Next Year's Segment Growth Rate |11.7%

Low End Customer Buying Criteria
Expectations Importance
1. Price $14.00 - 24.00 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 2.7 Size 17.3 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
Ebb 25% 2,772 1/15/2020 YES 3.0 17.0 $19.50 12000 6.60 $1,050 62% $1,085 36% 23
Acre 22% 2,410 6/30/2020 YES 3.5 16.5 $21.00 15000 3.55 $2,000 89% $2,000 48% 14
Bead 18% 2,057 1/20/2021 3.5 15.6 $19.50 14000 3.82 $1,200 65% $1,200 46% 13
Feat 12% 1,386 7/27/2023 YES 3.0 17.0 $22.00 13000 6.60 $1,100 64% $1,235 36% 17
Cedar 12% 1,354 4/2/2020 YES 2.1 17.2 $18.00 13000 2.35 $950 57% $1,000 31% 16
Dell 7% 812 3/29/2020 YES 1.7 18.3 $21.00 12840 3.68 $0 53% $0 22% 7
Eat 2% 201 4/7/2020 5.5 14.5 $27.00 15500 2.09 $1,050 63% $1,085 36% 1
Baker 2% 189 5/25/2020 YES 7.0 12.8 $25.00 17500 2.85 $1,900 95% $1,900 46% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C102618 Round: 2
Dec. 31, 2020

High End Statistics

Total Industry Unit Demand 3,448
Actual Industry Unit Sales |3,448
Segment % of Total Industry |11.9%

Next Year's Segment Growth Rate |16.2%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 10.7 Size 9.3 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $29.00 - 39.00 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
Fist 27% 937 12/21/2020 10.2 9.8 $39.00 25000 1.18 $1,100 61% $1,235 44% 36
Adam 21% 739 11/14/2020 9.3 10.5 $38.00 25000 1.41 $1,800 88% $1,800 53% 30
Dixie 19% 650 9/22/2020 YES 9.8 10.2 $39.50 23500 1.37 $2,150 83% $2,000 56% 29
Cid 14% 495 6/3/2020 9.0 11.0 $40.00 23000 1.63 $800 48% $800 36% 8
Bid 9% 315 8/8/2020 YES 10.6 11.6 $37.00 24000 2.04 $1,100 59% $1,100 38% 13
Cobalt 5% 177 8/14/2020 11.2 13.2 $37.00 25000 0.37 $850 42% $750 36% 9
Bold 2% 54 5/10/2020 YES 10.4 14.2 $32.00 26500 1.77 $1,000 52% $1,000 38% 2
Buddy 1% 34 2/28/2020 YES 5.8 10.5 $30.50 20000 2.72 $950 50% $900 38% 1
Echo 1% 29 7/19/2020 YES 6.4 13.6 $27.00 16000 1.40 $1,050 57% $775 26% 0
Able 0% 5 8/19/2020 6.4 13.6 $29.00 17000 1.89 $2,000 100% $1,800 53% 0
Baker 0% 5 5/25/2020 YES 7.0 12.8 $25.00 17500 2.85 $1,900 95% $1,900 38% 0
Foam 0% 5 11/10/2020 YES 11.8 14.2 $34.00 27000 1.47 $1,100 59% $1,235 44% 0

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C102618 Round: 2
Dec. 31, 2020

Performance Statistics
Total Industry Unit Demand 2,749
Actual Industry Unit Sales |2,749
Segment % of Total Industry |9.5%

Next Year's Segment Growth Rate |19.8%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 11.4 Size 14.6 29%
3. Price $24.00 - 34.00 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
Foam 25% 685 11/10/2020 YES 11.8 14.2 $34.00 27000 1.47 $1,100 59% $1,235 35% 35
Aft 22% 594 9/12/2020 YES 10.0 15.6 $34.00 27000 1.64 $1,800 87% $1,800 43% 34
Dot 21% 587 9/1/2020 10.3 15.5 $34.50 27000 1.71 $1,750 80% $1,750 37% 31
Bold 15% 408 5/10/2020 YES 10.4 14.2 $32.00 26500 1.77 $1,000 52% $1,000 27% 27
Coat 12% 342 3/8/2020 YES 9.8 15.5 $34.00 26000 1.99 $750 43% $750 30% 17
Edge 3% 77 6/29/2016 YES 9.4 15.5 $34.00 25000 4.50 $300 25% $155 17% 7
Cobalt 2% 55 8/14/2020 11.2 13.2 $37.00 25000 0.37 $850 42% $750 30% 5

CAPSTONE ® COURIER Page 8

Size Segment Analysis C102618 Round: 2
Dec. 31, 2020

Size Statistics
Total Industry Unit Demand 2,776
Actual Industry Unit Sales |2,776
Segment % of Total Industry |9.6%

Next Year's Segment Growth Rate |18.3%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 5.4 Size 8.6 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $24.00 - 34.00 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
Fume 34% 943 11/8/2020 5.4 8.4 $34.00 19000 1.48 $1,100 59% $1,235 39% 39
Dune 20% 554 9/14/2020 4.7 9.7 $34.50 21000 1.74 $1,750 74% $1,750 41% 27
Agape 18% 489 6/6/2020 4.4 10.8 $34.00 20000 1.88 $1,400 76% $1,400 45% 16
Cure 16% 453 3/9/2020 4.0 10.5 $34.00 20000 2.01 $800 46% $800 31% 11
Buddy 7% 190 2/28/2020 YES 5.8 10.5 $30.50 20000 2.72 $950 50% $900 31% 10
Egg 4% 98 12/23/2020 6.9 13.4 $34.00 19000 2.30 $1,050 56% $775 29% 0
Echo 1% 22 7/19/2020 YES 6.4 13.6 $27.00 16000 1.40 $1,050 57% $775 29% 0
Baker 1% 14 5/25/2020 YES 7.0 12.8 $25.00 17500 2.85 $1,900 95% $1,900 31% 1
Cake 0% 11 3/29/2020 5.7 14.2 $29.00 18900 2.06 $1,250 73% $1,350 31% 0
Able 0% 3 8/19/2020 6.4 13.6 $29.00 17000 1.89 $2,000 100% $1,800 45% 0

CAPSTONE ® COURIER Page 9

 Round: 2
Market Share C102618 Dec. 31, 2020

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 8,809 11,180 3,448 2,749 2,776 28,961 Units Demanded 8,809 11,180 3,448 2,749 2,776 28,961
% of Market 30.4% 38.6% 11.9% 9.5% 9.6% 100.0% % of Market 30.4% 38.6% 11.9% 9.5% 9.6% 100.0%

Able 17.8% 0.1% 0.1% 5.4% Able 15.9% 4.9%

Acre 0.4% 21.6% 8.4% Acre 0.3% 19.4% 7.6%
Adam 21.4% 2.5% Adam 17.7% 2.1%
Aft 21.6% 2.1% Aft 21.1% 2.0%
Agape 17.6% 1.7% Agape 15.7% 1.5%
Total 18.2% 21.6% 21.6% 21.6% 17.7% 20.2% Total 16.2% 19.4% 17.8% 21.1% 15.8% 18.1%

Baker 6.9% 1.7% 0.1% 0.5% 2.8% Baker 14.4% 0.7% 0.2% 1.1% 4.8%
Bead 4.7% 18.4% 8.5% Bead 4.5% 12.4% 6.1%
Bid 9.2% 1.1% Bid 10.2% 1.2%
Bold 1.6% 14.9% 1.6% Bold 3.2% 21.9% 2.5%
Buddy 0.8% 1.0% 6.9% 1.0% Buddy 2.2% 1.8% 14.9% 2.3%
Total 12.4% 20.1% 11.8% 14.9% 7.3% 15.0% Total 21.1% 13.1% 15.3% 21.9% 16.0% 16.9%

Cake 17.1% 0.4% 5.3% Cake 15.4% 0.4% 4.7%

Cedar 12.1% 4.7% Cedar 17.7% 6.8%
Cid 14.4% 1.7% Cid 11.5% 1.4%
Coat 12.4% 1.2% Coat 15.1% 1.4%
Cure 16.3% 1.6% Cure 14.8% 1.4%
Cobalt 5.1% 2.0% 0.8% Cobalt 3.7% 1.2% 0.6%
Total 17.1% 12.1% 19.6% 14.5% 16.7% 15.2% Total 15.3% 17.7% 15.3% 16.3% 15.2% 16.3%

Daze 13.0% 4.0% Daze 11.6% 3.5%

Dell 7.3% 2.8% Dell 8.9% 3.4%
Dixie 18.8% 2.2% Dixie 26.9% 3.2%
Dot 21.3% 2.0% Dot 13.3% 1.3%
Dune 20.0% 1.9% Dune 18.1% 1.7%
Total 13.0% 7.3% 18.8% 21.3% 20.0% 13.0% Total 11.6% 8.9% 26.9% 13.3% 18.1% 13.2%

Eat 15.2% 1.8% 5.3% Eat 13.7% 0.4% 4.3%

Ebb 24.8% 9.6% Ebb 23.7% 9.2%
Echo 12.0% 0.9% 0.8% 3.8% Echo 11.2% 0.8% 0.7% 3.6%
Edge 2.8% 0.3% Edge 6.5% 0.6%
Egg 3.5% 0.3% Egg 3.2% 0.3%
Total 27.3% 26.6% 0.9% 2.8% 4.3% 19.3% Total 24.9% 24.2% 0.8% 6.5% 4.0% 18.0%

Fast 12.0% 3.7% Fast 10.9% 3.3%

Feat 12.4% 4.8% Feat 16.8% 6.5%
Fist 27.2% 3.2% Fist 23.6% 2.8%
Foam 0.1% 24.9% 2.4% Foam 20.8% 2.0%
Fume 34.0% 3.3% Fume 31.0% 3.0%
Total 12.0% 12.4% 27.3% 24.9% 34.0% 17.3% Total 10.9% 16.8% 23.8% 20.8% 31.0% 17.6%

CAPSTONE ® COURIER Page 10

 Round: 2
Perceptual Map C102618 Dec. 31, 2020

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 6.4 13.6 8/19/2020 Baker 7.0 12.8 5/25/2020 Cake 5.7 14.2 3/29/2020
Acre 3.5 16.5 6/30/2020 Bead 3.5 15.6 1/20/2021 Cedar 2.1 17.2 4/2/2020
Adam 9.3 10.5 11/14/2020 Bid 10.6 11.6 8/8/2020 Cid 9.0 11.0 6/3/2020
Aft 10.0 15.6 9/12/2020 Bold 10.4 14.2 5/10/2020 Coat 9.8 15.5 3/8/2020
Agape 4.4 10.8 6/6/2020 Buddy 5.8 10.5 2/28/2020 Cure 4.0 10.5 3/9/2020
Cobalt 11.2 13.2 8/14/2020

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 5.7 14.3 8/2/2020 Eat 5.5 14.5 4/7/2020 Fast 5.5 14.5 4/21/2020
Dell 1.7 18.3 3/29/2020 Ebb 3.0 17.0 1/15/2020 Feat 3.0 17.0 7/27/2023
Dixie 9.8 10.2 9/22/2020 Echo 6.4 13.6 7/19/2020 Fist 10.2 9.8 12/21/2020
Dot 10.3 15.5 9/1/2020 Edge 9.4 15.5 6/29/2016 Foam 11.8 14.2 11/10/2020
Dune 4.7 9.7 9/14/2020 Egg 6.9 13.4 12/23/2020 Fume 5.4 8.4 11/8/2020
Fox 11.0 9.0 12/11/2020

CAPSTONE ® COURIER Page 11

 Round: 2
HR/TQM Report C102618 Dec. 31, 2020
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 1,034 486 788 425 795 832
Complement 1,034 486 788 425 795 832
1st Shift Complement 862 328 758 425 548 541
2nd Shift Complement 172 158 30 0 247 290
Overtime Percent 0.0% 0.1% 0.0% 0.0% 0.0% 0.0%
Turnover Rate 10.0% 10.0% 10.0% 7.0% 9.1% 8.9%
New Employees 151 49 161 30 139 205
Separated Employees 0 220 0 401 0 0
Recruiting Spend $0 $0 $0 $4,000 $2,000 $2,500
Training Hours 0 0 0 80 25 30
Productivity Index 100.0% 100.0% 100.0% 101.8% 100.0% 100.0%
Recruiting Cost $151 $49 $161 $149 $416 $716
Separation Cost $0 $1,100 $0 $2,005 $0 $0
Training Cost $0 $0 $0 $680 $397 $499
Total HR Admin Cost $151 $1,149 $161 $2,834 $814 $1,215
Labor Contract Next Year
Wages $23.15 $23.15 $23.15 $23.15 $23.15 $23.15
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: 2
Annual Report Andrews C102618
Dec. 31, 2020
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2020 2019
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 $8,507 7.4% $17,027
current value of your inventory across all products. A zero
Account Receivable $13,307 11.6% $13,207
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $16,073 14.1% $7,421
Equipment: The current value of your plant. Accum Total Current Assets $37,887 33.2% $37,655
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $130,856 115.0% $117,450
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($54,487) -47.7% ($45,763)
of operations. It includes emergency loans used to keep Total Fixed Assets $76,369 66.8% $71,687
your company solvent should you run out of cash during Total Assets $114,256 100.0% $109,342
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 $9,695 8.5% $9,174
instead of paying to shareholders as dividends.
Current Debt $1,932 1.7% $0
Long Term Debt $34,750 30.4% $41,700
Total Liabilities $46,377 40.6% $50,874

Common Stock $18,360 16.1% $18,360

Retained Earnings $49,519 43.3% $40,108
Total Equity $67,879 59.4% $58,468
Total Liab. & O. Equity $114,256 100.0% $109,342

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2020 2019
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $9,411 $10,526
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $8,724 $7,830
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs ($18) $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable $521 $2,591
are bad and you find yourself carrying an abundance of excess inventory,
Inventory ($8,652) $1,196
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($100) ($4,900)
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 $9,886 $17,243
afloat. Cash Flows from Investing Activities
Plant Improvements ($13,406) ($3,650)
Cash Flows from Financing Activities
Dividends paid $0 $0
Sales of common stock $0 $0
Purchase of common stock $0 $0
Cash from long term debt $0 $0
Retirement of long term debt ($6,932) $0
Change in current debt(net) $1,932 $0
Net cash from financing activities ($5,000) $0
Net change in cash position ($8,520) $13,593
Closing cash position $8,507 $17,027

Annual Report Page 13

 Round: 2
Annual Report Andrews C102618
Dec. 31, 2020
2020 Income Statement
2020 Common
(Product Name) Able Acre Adam Aft Agape
Total
Size
Sales $45,725 $51,276 $28,067 $20,199 $16,634 $0 $0 $0 $161,903100.0%
Variable Costs:
Direct Labor $12,144 $20,723 $6,936 $5,580 $4,783 $0 $0 $0 $50,16731.0%
Direct Material $16,249 $17,176 $11,043 $8,614 $6,054 $0 $0 $0 $59,13636.5%
Inventory Carry $662 $0 $172 $0 $1,094 $0 $0 $0 $1,9291.2%
Total Variable $29,055 $37,900 $18,151 $14,194 $11,931 $0 $0 $0 $111,23268.7%
Contribution Margin $16,670 $13,377 $9,916 $6,005 $4,703 $0 $0 $0 $50,67131.3%
Period Costs:
Depreciation $3,122 $2,802 $1,200 $800 $800 $0 $0 $0 $8,7245.4%
SG&A: R&D $643 $504 $886 $710 $438 $0 $0 $0 $3,1812.0%
Promotions $2,000 $2,000 $1,800 $1,800 $1,400 $0 $0 $0 $9,0005.6%
Sales $1,800 $2,000 $1,800 $1,800 $1,400 $0 $0 $0 $8,8005.4%
Admin $363 $407 $223 $160 $132 $0 $0 $0 $1,2850.8%
Total Period $7,927 $7,713 $5,908 $5,271 $4,170 $0 $0 $0 $30,99019.1%
Net Margin $8,743 $5,664 $4,008 $734 $533 $0 $0 $0 $19,68112.2%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $57 0.0%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $19,624 12.1%
straight-line. 15-year depreciation of plant value. R&D Costs: R&D department expenditures for each Short Term Interest $193 0.1%
product. Admin: Administration overhead is estimated at 1.5% of sales. Promotions: The promotion budget Long Term Interest $4,657 2.9%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $5,171 3.2%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $192 0.1%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $9,411 5.8%
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