Round: 1

Dec. 31, C112344

2020
Andrews Baldwin Chester
Kanishk Ailawadi Pramila Das
DISHA KASHYAP Nafisa Islam
Kajal Kumari Aviral Kumra
Aditya Ram Rishabh Saini
Chetan Sharma Mihir Tanwar
SHIVI SHARMA Shakti Vardhan

Digby Erie Ferris

Sudeepta Bhattachar Anmol Aggarwal Mukund Bagaria
Vaenu Garg Sai Kiran Brahmandl Yugaant Dadhwal
Sri Navya Guduru Sakshi Gulati Shivang Dalakoti
Vishal Kumar NAMMI NARESH KUMAR Medha Marwah
Isha Mohanty Rohit KVN ANKUR MODI
Vishnu Raj Padma S Shreyas Tewari

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS -39.1% 7.4% 6.2% 2.7% 2.0% -0.7%
Asset Turnover 0.31 1.24 1.30 1.24 1.23 0.81
ROA -12.0% 9.1% 8.0% 3.3% 2.5% -0.6%
Leverage 3.9 1.9 1.9 1.9 2.0 3.4
ROE -46.5% 17.4% 15.5% 6.4% 4.8% -2.0%
Emergency Loan $43,983,253 $0 $11,997,154 $0 $0 $57,071,107
Sales $45,418,288 $141,285,895 $141,336,716 $122,630,981 $121,285,859 $139,456,397
EBIT ($13,140,741) $22,278,137 $19,923,040 $10,536,289 $9,218,097 $13,823,669
Profits ($17,765,287) $10,439,090 $8,764,649 $3,258,439 $2,418,751 ($1,022,619)
Cumulative Profit ($13,576,780) $14,627,598 $12,953,156 $7,446,947 $6,607,258 $3,165,888
SG&A / Sales 28.9% 11.0% 9.1% 15.7% 16.4% 10.5%
Contrib. Margin % 19.5% 32.3% 29.5% 30.5% 30.3% 27.1%

CAPSTONE ® COURIER Page 1

 Round: 1
Stock & Bonds C112344 Dec. 31, 2020
Stock Market Summary
MarketCap Book Value
Company Close Change Shares EPS Dividend Yield P/E
($M) Per Share
Andrews $1.00 ($33.25) 2,233,552 $2 $17.09 ($7.95) $0.00 0.0% -0.1
Baldwin $50.80 $16.54 2,046,274 $104 $29.30 $5.10 $0.00 0.0% 10.0
Chester $41.69 $7.44 2,000,000 $83 $28.35 $4.38 $0.00 0.0% 9.5
Digby $36.68 $2.42 2,000,000 $73 $25.60 $1.63 $0.00 0.0% 22.5
Erie $35.00 $0.74 2,000,000 $70 $25.18 $1.21 $0.00 0.0% 28.9
Ferris $2.13 ($32.12) 2,133,300 $5 $24.13 ($0.48) $0.00 0.0% -4.5

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
11.0S2021 $6,950,000 11.3% 97.71 DDD 11.0S2021 $6,950,000 11.1% 99.46 B
12.5S2023 $13,900,000 12.8% 97.43 DDD 12.5S2023 $13,900,000 12.2% 102.18 B
14.0S2025 $20,850,000 13.8% 101.39 DDD 14.0S2025 $20,850,000 12.9% 108.74 B
11.3S2030 $8,000,000 12.9% 87.81 DDD Erie
Baldwin 11.0S2021 $6,950,000 11.1% 99.46 B
11.0S2021 $993,022 11.0% 99.55 B 12.5S2023 $13,900,000 12.2% 102.18 B
12.5S2023 $13,900,000 12.2% 102.42 B 14.0S2025 $20,850,000 12.9% 108.74 B
14.0S2025 $20,850,000 12.8% 109.13 B Ferris
Chester 11.0S2021 $6,950,000 11.2% 97.88 C
12.5S2023 $10,924,506 12.2% 102.42 B 12.5S2023 $13,900,000 12.8% 97.89 C
14.0S2025 $20,850,000 12.8% 109.13 B 14.0S2025 $20,850,000 13.7% 102.09 C
11.3S2030 $9,200,000 12.7% 88.78 C

Next Year's Prime Rate7.50%

CAPSTONE ® COURIER Page 2
 Round: 1
Financial Summary C112344 Dec. 31, 2020
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) ($17,765) $10,439 $8,765 $3,258 $2,419 ($1,023)
Adjustment for non-cash items:
Depreciation $8,067 $7,553 $8,731 $7,607 $7,595 $8,733
Extraordinary gains/losses/writeoffs $0 $178 $75 $0 $0 $0
Changes in current assets and liablilities
Accounts payable $129 $754 $1,838 ($290) ($328) $6,622
Inventory ($52,422) $6,019 ($4,367) $8,617 $8,458 ($68,248)
Accounts Receivable $4,574 ($3,305) ($3,309) ($1,772) ($1,661) ($3,155)
Net cash from operations ($57,417) $21,638 $11,731 $17,422 $16,483 ($57,071)

Cash flows from investing activities

Plant improvements(net) ($16,000) ($3,875) ($17,162) ($310) ($130) ($17,200)
Cash flows from financing activities
Dividends paid $0 $0 $0 $0 $0 $0
Sales of common stock $8,000 $1,585 $0 $0 $0 $4,566
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $8,000 $0 $0 $0 $0 $9,200
Early retirement of long term debt $0 ($5,926) ($10,000) $0 $0 $0
Retirement of current debt $0 $0 $0 $0 $0 $0
Cash from current debt borrowing $10,000 $11,359 $0 $0 $0 $0
Cash from emergency loan $43,983 $0 $11,997 $0 $0 $57,071

Net cash from financing activities $69,983 $7,017 $1,997 $0 $0 $70,837

Net change in cash position ($3,434) $24,780 ($3,434) $17,112 $16,353 ($3,434)
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $0 $28,214 $0 $20,545 $19,787 $0
Accounts Receivable $3,733 $11,613 $11,617 $10,079 $9,969 $11,462
Inventory $61,039 $2,598 $12,984 $0 $160 $76,866
Total Current Assets $64,772 $42,424 $24,601 $30,625 $29,915 $88,328

Plant and equipment $129,800 $113,300 $130,962 $114,110 $113,930 $131,000

Accumulated Depreciation ($46,000) ($41,320) ($46,664) ($45,541) ($45,529) ($46,667)
Total Fixed Assets $83,800 $71,980 $84,298 $68,569 $68,401 $84,333

Total Assets $148,572 $114,404 $108,899 $99,194 $98,316 $172,661

Accounts Payable $6,712 $7,337 $8,421 $6,294 $6,256 $13,205

Current Debt $53,983 $11,359 $11,997 $0 $0 $57,071
Total Current Liabilities $60,695 $18,696 $20,418 $6,294 $6,256 $70,276

Long Term Debt $49,700 $35,743 $31,775 $41,700 $41,700 $50,900

Total Liabilities $110,396 $54,438 $52,193 $47,994 $47,956 $121,176

Common Stock $26,360 $19,945 $18,360 $18,360 $18,360 $22,926

Retained Earnings $11,817 $40,021 $38,347 $32,841 $32,001 $28,559
Total Equity $38,177 $59,966 $56,706 $51,200 $50,361 $51,485

Total Liabilities & Owners Equity $148,572 $114,404 $108,899 $99,194 $98,316 $172,661

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $45,418 $141,286 $141,337 $122,631 $121,286 $139,456
Variable Costs(Labor,Material,Carry) $36,570 $95,596 $99,646 $85,191 $84,587 $101,635
Contribution Margin $8,848 $45,690 $41,691 $37,440 $36,699 $37,821
Depreciation $8,067 $7,553 $8,731 $7,607 $7,595 $8,733
SGA(R&D,Promo,Sales,Admin) $13,122 $15,513 $12,813 $19,297 $19,885 $14,576
Other(Fees,Writeoffs,TQM,Bonuses) $800 $346 $225 $0 $0 $688
EBIT ($13,141) $22,278 $19,923 $10,536 $9,218 $13,824
Interest(Short term,Long term) $14,190 $5,890 $6,164 $5,421 $5,421 $15,397
Taxes ($9,566) $5,736 $4,816 $1,790 $1,329 ($551)
Profit Sharing $0 $213 $179 $66 $49 $0
Net Profit ($17,765) $10,439 $8,765 $3,258 $2,419 ($1,023)
CAPSTONE ® COURIER Page 3
 Round: 1
Production Analysis C112344 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 1,159 381 5/18/2020 2.4 18500 6.0 14.2 $29.50 $11.36 $7.85 32% 0% 5.0 1,800 75%
Acre Trad 33 1,808 10/7/2020 2.9 15000 4.0 17.5 $30.00 $7.70 $7.46 -282% 30% 5.0 1,400 129%
Adam 0 446 4/3/2020 1.7 24000 8.4 12.0 $45.00 $15.35 $8.97 0% 0% 3.0 900 45%
Aft High 64 449 5/15/2020 2.1 24000 9.0 15.0 $40.00 $14.42 $8.97 -11% 0% 3.0 600 73%
Agape Size 219 220 8/4/2020 2.0 20000 4.0 12.0 $35.00 $12.25 $8.97 30% 0% 3.0 600 63%
Alps 0 0 7/2/2021 0.0 0 0.0 0.0 $0.00 $0.00 $0.00 0% 0% 4.0 400 0%

Baker Trad 1,377 0 3/9/2020 2.5 17000 5.4 14.5 $29.50 $10.45 $7.85 36% 0% 5.0 1,600 74%
Bead Low 2,564 0 5/25/2015 5.6 14000 3.0 17.0 $21.50 $7.05 $8.16 28% 82% 6.0 1,400 180%
Bid High 451 35 12/24/2020 1.4 23500 9.2 10.8 $39.50 $16.22 $8.97 38% 0% 3.0 450 99%
Bold Pfmn 474 0 8/24/2020 1.9 22500 9.1 14.5 $34.50 $14.21 $8.97 30% 0% 3.0 600 66%
Buddy Size 330 79 8/5/2020 2.0 19000 5.1 11.2 $34.50 $12.83 $8.97 34% 0% 3.0 600 58%

Cake Trad 1,733 447 3/18/2020 2.4 17500 5.5 14.2 $29.00 $10.80 $8.24 31% 12% 4.0 2,011 111%
Cedar Low 1,742 0 1/29/2020 5.6 16000 3.0 17.0 $20.00 $7.65 $7.32 24% 23% 5.0 1,720 122%
Cid High 586 8 4/17/2020 1.7 23000 8.5 11.7 $39.00 $15.25 $8.97 37% 0% 3.5 900 62%
Coat Pfmn 548 0 4/3/2020 2.1 25000 9.4 15.0 $34.00 $14.97 $8.97 28% 0% 3.5 600 78%
Cure Size 460 186 3/5/2020 2.2 19000 4.0 10.7 $32.00 $12.80 $8.97 27% 0% 3.5 600 97%

Daze Trad 1,377 0 4/18/2020 2.4 15260 5.7 14.3 $24.60 $10.18 $7.85 24% 0% 4.0 1,800 66%
Dell Low 1,841 0 1/17/2020 5.6 12840 3.0 17.0 $22.95 $6.70 $7.46 37% 30% 5.0 1,405 129%
Dixie High 446 0 4/26/2020 1.7 23800 8.4 11.6 $32.70 $15.49 $8.97 24% 0% 3.0 905 45%
Dot Pfmn 513 0 7/15/2020 2.0 23290 9.0 16.3 $33.75 $13.81 $8.97 29% 0% 3.0 602 73%
Dune Size 439 0 3/6/2020 2.2 19040 3.7 11.0 $33.25 $12.53 $8.97 34% 0% 3.0 603 63%

Eat Trad 1,377 0 4/3/2020 2.4 15260 5.5 14.6 $24.60 $9.93 $7.85 25% 0% 4.0 1,800 66%
Ebb Low 1,841 0 1/17/2020 5.6 12840 3.0 17.0 $22.95 $6.70 $7.46 37% 30% 5.0 1,405 129%
Echo High 446 0 4/6/2020 1.7 23800 8.2 11.6 $35.00 $15.39 $8.97 30% 0% 3.0 900 45%
Edge Pfmn 513 0 7/19/2020 2.0 23000 9.0 16.3 $31.50 $13.72 $8.97 25% 0% 3.0 600 73%
Egg Size 431 7 3/24/2020 2.2 17000 3.8 11.0 $31.00 $11.95 $8.97 30% 0% 3.0 600 63%

Fast Trad 1,340 1,448 3/31/2020 2.4 16500 5.7 14.3 $29.00 $10.55 $9.01 23% 46% 4.5 1,800 144%
Feat Low 1,895 0 9/18/2020 2.9 17000 2.2 17.5 $24.50 $7.30 $7.53 39% 34% 5.5 1,400 133%
Fist High 507 771 5/9/2020 1.7 24500 8.3 12.5 $39.50 $15.20 $10.16 23% 39% 4.0 900 138%
Foam Pfmn 610 581 4/28/2020 2.1 25000 9.0 15.0 $35.00 $14.72 $10.95 17% 88% 4.5 600 186%
Fume Size 366 563 8/26/2020 2.0 18000 4.5 10.0 $35.00 $13.11 $10.30 21% 46% 4.5 600 144%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C112344 Round: 1
Dec. 31, 2020

Traditional Statistics
Total Industry Unit Demand 8,067
Actual Industry Unit Sales |8,067
Segment % of Total Industry |31.4%

Next Year's Segment Growth Rate |9.2%

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
Daze 17% 1,346 4/18/2020 YES 5.7 14.3 $24.60 15260 2.40 $1,818 79% $1,852 66% 48
Baker 17% 1,335 3/9/2020 YES 5.4 14.5 $29.50 17000 2.45 $1,300 67% $1,362 58% 33
Cake 16% 1,329 3/18/2020 5.5 14.2 $29.00 17500 2.44 $1,200 65% $1,200 54% 33
Eat 16% 1,287 4/3/2020 YES 5.5 14.6 $24.60 15260 2.42 $1,818 79% $1,900 68% 47
Fast 16% 1,267 3/31/2020 5.7 14.3 $29.00 16500 2.42 $1,400 70% $1,200 56% 34
Able 14% 1,097 5/18/2020 6.0 14.2 $29.50 18500 2.36 $1,500 73% $500 42% 33
Bead 1% 89 5/25/2015 YES 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 58% 1
Cedar 1% 66 1/29/2020 YES 3.0 17.0 $20.00 16000 5.60 $950 55% $1,000 54% 1
Dell 1% 59 1/17/2020 YES 3.0 17.0 $22.95 12840 5.60 $1,731 75% $1,667 66% 0
Ebb 1% 58 1/17/2020 YES 3.0 17.0 $22.95 12840 5.60 $1,731 75% $2,250 68% 0
Feat 1% 46 9/18/2020 YES 2.2 17.5 $24.50 17000 2.94 $1,000 56% $1,400 56% 0
Acre 0% 33 10/7/2020 4.0 17.5 $30.00 15000 2.91 $700 47% $900 42% 2

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C112344 Round: 1
Dec. 31, 2020

Low End Statistics

Total Industry Unit Demand 10,009
Actual Industry Unit Sales |10,009
Segment % of Total Industry |39.0%

Next Year's Segment Growth Rate |11.7%

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 25% 2,475 5/25/2015 YES 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 40% 16
Feat 18% 1,849 9/18/2020 YES 2.2 17.5 $24.50 17000 2.94 $1,000 56% $1,400 40% 7
Ebb 18% 1,783 1/17/2020 YES 3.0 17.0 $22.95 12840 5.60 $1,731 75% $2,250 53% 14
Dell 18% 1,781 1/17/2020 YES 3.0 17.0 $22.95 12840 5.60 $1,731 75% $1,667 46% 13
Cedar 17% 1,676 1/29/2020 YES 3.0 17.0 $20.00 16000 5.60 $950 55% $1,000 35% 20
Cake 3% 333 3/18/2020 5.5 14.2 $29.00 17500 2.44 $1,200 65% $1,200 35% 0
Eat 1% 74 4/3/2020 YES 5.5 14.6 $24.60 15260 2.42 $1,818 79% $1,900 53% 1
Fast 0% 32 3/31/2020 5.7 14.3 $29.00 16500 2.42 $1,400 70% $1,200 40% 0
Daze 0% 4 4/18/2020 YES 5.7 14.3 $24.60 15260 2.40 $1,818 79% $1,852 46% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C112344 Round: 1
Dec. 31, 2020

High End Statistics

Total Industry Unit Demand 2,967
Actual Industry Unit Sales |2,967
Segment % of Total Industry |11.6%

Next Year's Segment Growth Rate |16.2%

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
Cid 20% 586 4/17/2020 8.5 11.7 $39.00 23000 1.70 $1,000 54% $1,000 45% 14
Fist 17% 507 5/9/2020 8.3 12.5 $39.50 24500 1.67 $1,050 56% $1,100 46% 13
Bid 15% 451 12/24/2020 9.2 10.8 $39.50 23500 1.35 $1,250 62% $1,362 51% 31
Echo 15% 446 4/6/2020 YES 8.2 11.6 $35.00 23800 1.72 $1,633 71% $1,667 55% 20
Dixie 15% 443 4/26/2020 YES 8.4 11.6 $32.70 23800 1.69 $1,633 71% $1,667 55% 24
Foam 4% 121 4/28/2020 9.0 15.0 $35.00 25000 2.09 $750 44% $800 46% 3
Bold 3% 99 8/24/2020 YES 9.1 14.5 $34.50 22500 1.92 $1,300 61% $654 51% 4
Coat 3% 88 4/3/2020 YES 9.4 15.0 $34.00 25000 2.12 $1,200 58% $950 45% 3
Aft 2% 64 5/15/2020 9.0 15.0 $40.00 24000 2.06 $800 46% $900 33% 2
Able 1% 36 5/18/2020 6.0 14.2 $29.50 18500 2.36 $1,500 73% $500 33% 1
Dot 1% 25 7/15/2020 YES 9.0 16.3 $33.75 23290 1.98 $1,522 67% $1,892 55% 0
Edge 1% 25 7/19/2020 YES 9.0 16.3 $31.50 23000 1.97 $1,522 67% $1,892 55% 0

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C112344 Round: 1
Dec. 31, 2020

Performance Statistics
Total Industry Unit Demand 2,294
Actual Industry Unit Sales |2,294
Segment % of Total Industry |8.9%

Next Year's Segment Growth Rate |19.8%

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
Foam 21% 489 4/28/2020 9.0 15.0 $35.00 25000 2.09 $750 44% $800 29% 13
Dot 21% 485 7/15/2020 YES 9.0 16.3 $33.75 23290 1.98 $1,522 67% $1,892 46% 11
Edge 21% 476 7/19/2020 YES 9.0 16.3 $31.50 23000 1.97 $1,522 67% $1,892 46% 12
Coat 20% 459 4/3/2020 YES 9.4 15.0 $34.00 25000 2.12 $1,200 58% $950 32% 19
Bold 16% 375 8/24/2020 YES 9.1 14.5 $34.50 22500 1.92 $1,300 61% $654 29% 7
Able 0% 7 5/18/2020 6.0 14.2 $29.50 18500 2.36 $1,500 73% $500 25% 0

CAPSTONE ® COURIER Page 8

Size Segment Analysis C112344 Round: 1
Dec. 31, 2020

Size Statistics
Total Industry Unit Demand 2,347
Actual Industry Unit Sales |2,347
Segment % of Total Industry |9.1%

Next Year's Segment Growth Rate |18.3%

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
Cure 20% 459 3/5/2020 4.0 10.7 $32.00 19000 2.21 $1,000 52% $1,000 39% 19
Dune 18% 432 3/6/2020 YES 3.7 11.0 $33.25 19040 2.21 $1,522 67% $1,666 51% 17
Egg 17% 402 3/24/2020 3.8 11.0 $31.00 17000 2.18 $1,522 67% $1,667 51% 14
Fume 16% 365 8/26/2020 4.5 10.0 $35.00 18000 1.97 $900 49% $900 37% 26
Buddy 13% 307 8/5/2020 5.1 11.2 $34.50 19000 2.00 $1,300 61% $708 36% 15
Agape 9% 219 8/4/2020 4.0 12.0 $35.00 20000 2.00 $600 40% $900 35% 10
Cake 2% 50 3/18/2020 5.5 14.2 $29.00 17500 2.44 $1,200 65% $1,200 39% 2
Baker 1% 28 3/9/2020 YES 5.4 14.5 $29.50 17000 2.45 $1,300 67% $1,362 36% 1
Daze 1% 25 4/18/2020 YES 5.7 14.3 $24.60 15260 2.40 $1,818 79% $1,852 51% 1
Fast 1% 25 3/31/2020 5.7 14.3 $29.00 16500 2.42 $1,400 70% $1,200 37% 1
Able 1% 19 5/18/2020 6.0 14.2 $29.50 18500 2.36 $1,500 73% $500 35% 0
Eat 1% 16 4/3/2020 YES 5.5 14.6 $24.60 15260 2.42 $1,818 79% $1,900 51% 0

CAPSTONE ® COURIER Page 9

 Round: 1
Market Share C112344 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 8,067 10,009 2,967 2,294 2,347 25,684 Units Demanded 8,067 10,009 2,967 2,294 2,347 25,684
% of Market 31.4% 39.0% 11.6% 8.9% 9.1% 100.0% % of Market 31.4% 39.0% 11.6% 8.9% 9.1% 100.0%

Able 13.6% 1.2% 0.3% 0.8% 4.5% Able 11.7% 0.9% 0.3% 0.8% 3.9%
Acre 0.4% 0.1% Acre 0.3%
Aft 2.2% 0.3% Aft 1.6% 0.2%
Agape 9.3% 0.9% Agape 9.3% 0.8%
Total 14.0% 3.4% 0.3% 10.1% 5.7% Total 12.1% 2.6% 0.3% 10.1% 5.0%

Baker 16.6% 0.4% 1.2% 5.4% Baker 14.7% 0.4% 1.2% 4.8%
Bead 1.1% 24.7% 10.0% Bead 1.1% 23.0% 9.3%
Bid 15.2% 1.8% Bid 12.2% 1.4%
Bold 3.3% 16.4% 1.8% Bold 2.6% 15.0% 1.6%
Buddy 0.8% 13.1% 1.3% Buddy 0.6% 13.0% 1.3%
Total 17.6% 24.7% 19.8% 16.4% 14.3% 20.2% Total 15.8% 23.0% 15.7% 15.0% 14.2% 18.4%

Cake 16.5% 3.3% 0.7% 2.1% 6.8% Cake 14.4% 0.6% 2.1% 4.8%
Cedar 0.8% 16.8% 6.8% Cedar 1.5% 29.4% 11.9%
Cid 19.8% 2.3% Cid 15.3% 1.8%
Coat 2.9% 20.0% 2.1% Coat 2.9% 24.0% 2.5%
Cure 19.6% 1.8% Cure 19.4% 1.8%
Total 17.3% 20.1% 23.5% 20.0% 21.7% 19.7% Total 16.0% 29.4% 18.8% 24.0% 21.6% 22.8%

Daze 16.7% 1.1% 5.4% Daze 19.6% 1.3% 6.3%

Dell 0.7% 17.8% 7.2% Dell 0.8% 17.7% 7.1%
Dixie 14.9% 1.7% Dixie 23.6% 2.7%
Dot 0.8% 21.1% 2.0% Dot 0.7% 20.6% 1.9%
Dune 18.4% 1.7% Dune 18.6% 1.7%
Total 17.6% 17.8% 15.8% 21.2% 19.5% 18.0% Total 20.6% 17.7% 24.3% 20.6% 19.9% 19.8%

Eat 16.0% 0.7% 0.7% 5.4% Eat 20.0% 0.5% 0.8% 6.6%
Ebb 0.7% 17.8% 7.2% Ebb 0.8% 19.0% 7.7%
Echo 15.0% 1.7% Echo 21.1% 2.4%
Edge 0.1% 0.8% 20.8% 2.0% Edge 0.2% 0.8% 22.7% 2.2%
Egg 0.4% 17.1% 1.7% Egg 0.3% 17.0% 1.6%
Total 17.2% 18.6% 15.9% 20.8% 17.8% 17.9% Total 21.3% 19.5% 21.9% 22.7% 17.8% 20.5%

Fast 15.7% 0.3% 0.5% 1.1% 5.2% Fast 13.7% 0.4% 1.1% 4.4%
Feat 0.6% 18.5% 7.4% Feat 0.6% 10.4% 4.2%
Fist 17.1% 2.0% Fist 13.3% 1.5%
Foam 4.1% 21.3% 2.4% Foam 3.0% 17.4% 1.9%
Fume 15.6% 1.4% Fume 15.4% 1.4%
Total 16.3% 18.8% 21.7% 21.3% 16.6% 18.4% Total 14.2% 10.4% 16.7% 17.4% 16.5% 13.5%

CAPSTONE ® COURIER Page 10

 Round: 1
Perceptual Map C112344 Dec. 31, 2020

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 6.0 14.2 5/18/2020 Baker 5.4 14.5 3/9/2020 Cake 5.5 14.2 3/18/2020
Acre 4.0 17.5 10/7/2020 Bead 3.0 17.0 5/25/2015 Cedar 3.0 17.0 1/29/2020
Adam 8.4 12.0 4/3/2020 Bid 9.2 10.8 12/24/2020 Cid 8.5 11.7 4/17/2020
Aft 9.0 15.0 5/15/2020 Bold 9.1 14.5 8/24/2020 Coat 9.4 15.0 4/3/2020
Agape 4.0 12.0 8/4/2020 Buddy 5.1 11.2 8/5/2020 Cure 4.0 10.7 3/5/2020

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 5.7 14.3 4/18/2020 Eat 5.5 14.6 4/3/2020 Fast 5.7 14.3 3/31/2020
Dell 3.0 17.0 1/17/2020 Ebb 3.0 17.0 1/17/2020 Feat 2.2 17.5 9/18/2020
Dixie 8.4 11.6 4/26/2020 Echo 8.2 11.6 4/6/2020 Fist 8.3 12.5 5/9/2020
Dot 9.0 16.3 7/15/2020 Edge 9.0 16.3 7/19/2020 Foam 9.0 15.0 4/28/2020
Dune 3.7 11.0 3/6/2020 Egg 3.8 11.0 3/24/2020 Fume 4.5 10.0 8/26/2020

CAPSTONE ® COURIER Page 11

 Round: 1
HR/TQM Report C112344 Dec. 31, 2020
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 729 800 899 701 701 1,337
Complement 729 800 899 701 701 1,337
1st Shift Complement 668 635 817 640 640 909
2nd Shift Complement 61 165 82 61 61 428
Overtime Percent 0.0% 0.1% 0.0% 0.0% 0.0% 0.0%
Turnover Rate 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
New Employees 102 180 289 71 71 771
Separated Employees 0 0 0 0 0 0
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 $102 $180 $289 $71 $71 $771
Separation Cost $0 $0 $0 $0 $0 $0
Training Cost $0 $0 $0 $0 $0 $0
Total HR Admin Cost $102 $180 $289 $71 $71 $771
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 Digby C112344
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 $20,545 20.7% $3,434
current value of your inventory across all products. A zero
Account Receivable $10,079 10.2% $8,307
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $0 0.0% $8,617
Equipment: The current value of your plant. Accum Total Current Assets $30,624 30.9% $20,358
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $114,110 115.0% $113,800
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($45,541) -45.9% ($37,933)
of operations. It includes emergency loans used to keep Total Fixed Assets $68,569 69.1% $75,867
your company solvent should you run out of cash during Total Assets $99,194 100.0% $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 $6,294 6.3% $6,583
instead of paying to shareholders as dividends.
Current Debt $0 0.0% $0
Long Term Debt $41,700 42.0% $41,700
Total Liabilities $47,994 48.4% $48,283

Common Stock $18,360 18.5% $18,360

Retained Earnings $32,841 33.1% $29,582
Total Equity $51,201 51.6% $47,942
Total Liab. & O. Equity $99,194 100.0% $96,225

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) $3,258 $4,189
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $7,607 $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 ($290) $3,583
are bad and you find yourself carrying an abundance of excess inventory,
Inventory $8,617 ($8,617)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($1,772) ($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 $17,422 $6,434
afloat. Cash Flows from Investing Activities
Plant Improvements ($310) $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 $17,112 $2,434
Closing cash position $20,545 $3,434

Annual Report Page 13

 Round: 1
Annual Report Digby C112344
Dec. 31, 2020
2020 Income Statement
2020 Common
(Product Name) Daze Dell Dixie Dot Dune
Total
Size
Sales $33,877 $42,251 $14,594 $17,323 $14,587 $0 $0 $0 $122,631 100.0%
Variable Costs:
Direct Labor $10,741 $13,723 $3,987 $4,572 $3,910 $0 $0 $0 $36,933 30.1%
Direct Material $14,905 $12,926 $7,045 $7,655 $5,727 $0 $0 $0 $48,258 39.4%
Inventory Carry $0 $0 $0 $0 $0 $0 $0 $0 $0 0.0%
Total Variable $25,646 $26,648 $11,032 $12,227 $9,637 $0 $0 $0 $85,191 69.5%
Contribution Margin $8,231 $15,602 $3,562 $5,095 $4,950 $0 $0 $0 $37,440 30.5%
Period Costs:
Depreciation $2,640 $2,435 $1,086 $722 $724 $0 $0 $0 $7,607 6.2%
SG&A: R&D $301 $46 $323 $546 $181 $0 $0 $0 $1,397 1.1%
Promotions $1,818 $1,731 $1,633 $1,522 $1,522 $0 $0 $0 $8,226 6.7%
Sales $1,852 $1,667 $1,667 $1,892 $1,666 $0 $0 $0 $8,744 7.1%
Admin $257 $320 $111 $131 $111 $0 $0 $0 $930 0.8%
Total Period $6,867 $6,200 $4,819 $4,814 $4,203 $0 $0 $0 $26,904 21.9%
Net Margin $1,364 $9,402 ($1,257) $281 $747 $0 $0 $0 $10,536 8.6%
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 $10,536 8.6%
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 4.4%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $1,790 1.5%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $66 0.1%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $3,258 2.7%
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