Round: 1

Dec. 31, C123231

2021
Andrews Baldwin Chester
Ameya Harshe Srihari K R
Mikita Hiraou Ridhi Khurana
Somya Maheshwari Anshita Khurana
Harsh Narayan Krishna Kumar
Maitraiye Saxena Ananthakrishnan Mav
Mayank Singh Ishika Thukral

Digby Erie Ferris

Sarthak Bhatnagar Shiva Behal Mrinalini Acharya
Raunak Khandewal Madhur Garg BHAVIKA GARODIA
Devansh Khanna Vineet Kumar Prachi Gopalani
Mayank Sharma Priyaranjan Mishra Soumyadeep Halder
Divya Sharma Debasmita Mishra Sushant Mehta
Shibin Sunny Trisha Saha Muskan Sanganeria

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 5.6% 7.2% 4.5% 5.0% 4.5% 7.0%
Asset Turnover 1.12 1.08 1.20 1.12 1.06 1.18
ROA 6.3% 7.8% 5.4% 5.6% 4.8% 8.3%
Leverage 1.9 2.2 1.8 1.9 1.9 1.8
ROE 11.8% 17.6% 9.8% 10.6% 9.1% 15.3%
Emergency Loan $0 $0 $0 $0 $0 $0
Sales $115,509,814 $131,980,965 $115,052,554 $113,633,474 $105,847,029 $123,227,587
EBIT $15,531,913 $22,262,441 $13,017,910 $14,343,197 $12,973,990 $19,009,897
Profits $6,440,652 $9,519,876 $5,191,384 $5,683,440 $4,811,254 $8,656,128
Cumulative Profit $10,629,159 $13,708,384 $9,379,891 $9,871,947 $8,999,762 $12,844,635
SG&A / Sales 10.6% 11.6% 12.7% 11.7% 10.2% 9.7%
Contrib. Margin % 30.6% 34.4% 31.2% 31.9% 29.8% 31.3%

CAPSTONE ® COURIER Page 1

 Round: 1
Stock & Bonds C123231 Dec. 31, 2021
Stock Market Summary
MarketCap Book Value
Company Close Change Shares EPS Dividend Yield P/E
($M) Per Share
Andrews $43.04 $8.79 2,000,000 $86 $27.19 $3.22 $0.00 0.0% 13.4
Baldwin $49.20 $14.95 2,000,000 $98 $27.09 $4.76 $1.64 3.3% 10.3
Chester $40.54 $6.29 2,000,000 $81 $26.57 $2.60 $0.00 0.0% 15.6
Digby $41.53 $7.27 2,000,000 $83 $26.81 $2.84 $0.00 0.0% 14.6
Erie $39.79 $5.53 2,011,678 $80 $26.42 $2.39 $0.00 0.0% 16.6
Ferris $47.47 $13.22 2,000,000 $95 $28.30 $4.33 $0.00 0.0% 11.0

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
11.0S2022 $6,950,000 11.0% 99.64 BB 11.0S2022 $6,950,000 11.0% 99.64 BB
12.5S2024 $13,900,000 12.2% 102.67 BB 12.5S2024 $13,900,000 12.2% 102.67 BB
14.0S2026 $20,850,000 12.8% 109.51 BB 14.0S2026 $20,850,000 12.8% 109.51 BB
Baldwin Erie
11.0S2022 $5,883,091 11.1% 98.84 CCC 11.0S2022 $6,950,000 11.0% 99.64 BB
12.5S2024 $13,900,000 12.4% 100.48 CCC 12.5S2024 $13,900,000 12.2% 102.67 BB
14.0S2026 $20,850,000 13.2% 106.08 CCC 14.0S2026 $20,850,000 12.8% 109.51 BB
Chester Ferris
11.0S2022 $1,924,283 11.0% 99.82 BB 11.0S2022 $6,950,000 11.0% 99.73 BB
12.5S2024 $13,900,000 12.1% 103.17 BB 12.5S2024 $13,900,000 12.1% 102.92 BB
14.0S2026 $20,850,000 12.7% 110.30 BB 14.0S2026 $20,850,000 12.7% 109.90 BB

Next Year's Prime Rate7.50%

CAPSTONE ® COURIER Page 2
 Round: 1
Financial Summary C123231 Dec. 31, 2021
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $6,441 $9,520 $5,191 $5,683 $4,811 $8,656
Adjustment for non-cash items:
Depreciation $7,587 $7,553 $8,307 $8,632 $7,600 $7,587
Extraordinary gains/losses/writeoffs $0 $203 ($26) $0 $170 $0
Changes in current assets and liablilities
Accounts payable $193 ($11) ($665) ($756) ($1,182) ($336)
Inventory $2,090 $6,344 $6,902 $6,226 $8,617 $8,617
Accounts Receivable ($1,187) ($2,540) ($2,725) ($1,032) ($3,292) ($1,821)
Net cash from operations $15,124 $21,069 $16,984 $18,753 $16,724 $22,703

Cash flows from investing activities

Plant improvements(net) $0 ($3,875) ($10,800) ($15,680) ($3,770) $0
Cash flows from financing activities
Dividends paid $0 ($3,280) $0 $0 $0 $0
Sales of common stock $0 $0 $0 $0 $400 $0
Purchase of common stock $0 $0 $0 $0 $0 $0
Cash from long term debt issued $0 $0 $0 $0 $0 $0
Early retirement of long term debt $0 ($1,061) ($5,000) $0 $0 $0
Retirement of current debt $0 $0 $0 $0 $0 $0
Cash from current debt borrowing $0 $20,343 $0 $0 $0 $0
Cash from emergency loan $0 $0 $0 $0 $0 $0

Net cash from financing activities $0 $16,001 ($5,000) $0 $400 $0

Net change in cash position $15,124 $33,195 $1,184 $3,073 $13,354 $22,703
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $18,557 $36,629 $4,618 $6,507 $16,788 $26,137
Accounts Receivable $9,494 $10,848 $11,032 $9,340 $11,600 $10,128
Inventory $6,527 $2,273 $1,716 $2,391 $0 $0
Total Current Assets $34,579 $49,750 $17,366 $18,238 $28,388 $36,265

Plant and equipment $113,800 $113,300 $124,600 $129,480 $114,000 $113,800

Accumulated Depreciation ($45,520) ($41,320) ($46,240) ($46,565) ($42,133) ($45,520)
Total Fixed Assets $68,280 $71,980 $78,360 $82,915 $71,867 $68,280

Total Assets $102,859 $121,730 $95,726 $101,153 $100,254 $104,545

Accounts Payable $6,776 $6,572 $5,918 $5,827 $5,401 $6,247

Current Debt $0 $20,343 $0 $0 $0 $0
Total Current Liabilities $6,776 $26,915 $5,918 $5,827 $5,401 $6,247

Long Term Debt $41,700 $40,633 $36,674 $41,700 $41,700 $41,700

Total Liabilities $48,476 $67,548 $42,593 $47,527 $47,101 $47,947

Common Stock $18,360 $18,360 $18,360 $18,360 $18,760 $18,360

Retained Earnings $36,023 $35,822 $34,773 $35,266 $34,393 $38,238
Total Equity $54,382 $54,182 $53,133 $53,625 $53,153 $56,598

Total Liabilities & Owners Equity $102,859 $121,730 $95,726 $101,153 $100,254 $104,545

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $115,510 $131,981 $115,053 $113,633 $105,847 $123,228
Variable Costs(Labor,Material,Carry) $80,164 $86,580 $79,114 $77,413 $74,333 $84,627
Contribution Margin $35,346 $45,401 $35,939 $36,220 $31,514 $38,601
Depreciation $7,587 $7,553 $8,307 $8,632 $7,600 $7,587
SGA(R&D,Promo,Sales,Admin) $12,227 $15,366 $14,565 $13,246 $10,750 $12,004
Other(Fees,Writeoffs,TQM,Bonuses) $0 $219 $49 $0 $190 $0
EBIT $15,532 $22,262 $13,018 $14,343 $12,974 $19,010
Interest(Short term,Long term) $5,421 $7,318 $4,868 $5,421 $5,421 $5,421
Taxes $3,539 $5,231 $2,852 $3,123 $2,644 $4,756
Profit Sharing $131 $194 $106 $116 $98 $177
Net Profit $6,441 $9,520 $5,191 $5,683 $4,811 $8,656
CAPSTONE ® COURIER Page 3
 Round: 1
Production Analysis C123231 Dec. 31, 2021

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 1,375 0 4/3/2021 2.4 17500 5.1 14.4 $28.00 $10.50 $7.87 33% 0% 4.0 1,800 66%
Acre Low 1,819 18 9/4/2021 3.0 14000 2.3 17.8 $20.00 $6.29 $7.48 27% 30% 5.0 1,400 128%
Adam High 433 12 9/19/2021 1.5 23000 8.9 11.1 $40.00 $15.76 $8.99 38% 0% 3.0 900 45%
Aft Pfmn 425 87 7/20/2021 2.0 25000 10.4 15.3 $33.00 $15.53 $8.99 24% 0% 3.0 600 72%
Agape Size 265 173 11/29/2021 1.8 19000 4.7 9.6 $35.00 $13.73 $8.99 32% 0% 3.0 600 63%

Baker Trad 1,674 0 3/10/2021 2.5 17000 5.4 14.5 $29.50 $10.45 $7.85 36% 0% 5.0 1,600 93%
Bead Low 1,772 0 5/24/2016 5.6 14000 3.0 17.0 $21.50 $7.05 $7.36 32% 25% 6.0 1,400 124%
Bid High 461 24 12/25/2021 1.4 23500 9.2 10.8 $39.50 $16.22 $8.97 38% 0% 3.0 450 99%
Bold Pfmn 375 49 8/25/2021 1.9 22500 9.1 14.5 $34.50 $14.21 $8.97 29% 0% 3.0 600 58%
Buddy Size 386 23 8/6/2021 2.0 19000 5.1 11.2 $34.50 $12.83 $8.97 36% 0% 3.0 600 58%

Cake Trad 1,179 0 3/16/2021 2.4 17000 5.7 14.5 $29.00 $10.60 $7.85 35% 0% 5.0 1,800 55%
Cedar Low 2,019 0 5/24/2016 5.6 14000 3.0 17.0 $21.00 $7.05 $7.68 28% 43% 5.0 1,400 141%
Cid High 407 0 9/25/2021 1.5 23000 9.0 11.0 $38.00 $15.86 $8.97 35% 0% 4.0 900 41%
Coat Pfmn 403 11 6/30/2018 3.5 25000 9.4 15.5 $33.00 $14.81 $8.97 26% 0% 3.0 600 56%
Cure Size 294 66 5/25/2018 3.6 19000 4.0 11.0 $33.00 $12.60 $8.97 31% 0% 3.0 600 50%

Daze Trad 1,316 61 11/21/2017 4.1 17500 5.5 14.5 $28.00 $10.65 $7.85 32% 0% 4.0 1,800 66%
Dell Low 1,425 0 5/24/2016 5.6 14000 3.0 17.0 $20.00 $7.05 $6.73 30% 0% 6.0 1,400 99%
Dixie High 446 0 7/14/2021 1.6 23000 9.0 11.7 $39.50 $15.51 $8.97 38% 0% 3.8 900 45%
Dot Pfmn 463 51 4/17/2021 2.1 25000 10.0 15.5 $34.00 $15.21 $8.97 27% 0% 4.0 600 73%
Dune Size 439 0 7/14/2021 2.0 19000 4.3 10.0 $34.00 $13.35 $8.97 34% 0% 5.0 600 63%

Eat Trad 1,080 0 11/21/2017 4.1 17500 5.5 14.5 $28.00 $10.65 $7.85 32% 0% 4.0 1,500 59%
Ebb Low 1,821 0 5/24/2016 5.6 14000 3.0 17.0 $20.00 $7.05 $7.43 26% 29% 5.0 1,800 127%
Echo High 359 0 9/2/2021 1.5 23000 8.9 11.1 $38.00 $15.76 $8.97 35% 0% 3.0 700 46%
Edge Pfmn 399 0 1/15/2021 3.5 26000 9.4 15.5 $33.00 $15.11 $8.97 26% 0% 3.0 600 54%
Egg Size 374 0 3/17/2021 2.2 19000 4.0 10.6 $33.00 $12.87 $8.97 33% 0% 3.0 600 52%

Fast Trad 1,179 0 3/5/2021 2.5 17500 5.4 14.4 $28.00 $10.65 $7.85 32% 0% 4.0 1,800 55%
Feat Low 1,722 0 5/24/2016 5.6 14000 3.0 17.0 $21.00 $7.05 $7.29 30% 21% 5.0 1,400 120%
Fist High 535 0 9/10/2021 1.5 23000 8.9 11.1 $38.00 $15.76 $8.97 35% 0% 3.0 900 55%
Foam Pfmn 513 0 3/10/2021 2.2 26000 9.4 15.3 $33.00 $15.18 $8.97 26% 0% 3.0 600 73%
Fume Size 508 0 5/28/2021 2.1 19000 4.0 10.2 $33.00 $13.14 $8.97 32% 0% 3.0 600 74%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C123231 Round: 1
Dec. 31, 2021

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

Next Year's Segment Growth Rate |8.1%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $19.50 - 29.50 23%
3. Ideal Position Pfmn 5.7 Size 14.3 21%
4. Reliability MTBF 14000-19000 9%

Top Products in Traditional Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Baker 20% 1,630 3/10/2021 YES 5.4 14.5 $29.50 17000 2.45 $1,300 67% $1,362 58% 33
Daze 15% 1,245 11/21/2017 5.5 14.5 $28.00 17500 4.10 $1,200 65% $1,000 51% 10
Able 15% 1,243 4/3/2021 YES 5.1 14.4 $28.00 17500 2.42 $1,000 58% $1,000 50% 32
Cake 14% 1,150 3/16/2021 YES 5.7 14.5 $29.00 17000 2.45 $1,500 73% $2,000 67% 39
Fast 14% 1,132 3/5/2021 YES 5.4 14.4 $28.00 17500 2.46 $1,500 73% $1,000 50% 35
Eat 12% 1,011 11/21/2017 YES 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 51% 10
Bead 2% 130 5/24/2016 YES 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 58% 1
Feat 2% 128 5/24/2016 YES 3.0 17.0 $21.00 14000 5.60 $900 53% $900 50% 1
Cedar 2% 127 5/24/2016 YES 3.0 17.0 $21.00 14000 5.60 $1,500 71% $2,000 67% 1
Ebb 1% 109 5/24/2016 YES 3.0 17.0 $20.00 14000 5.60 $900 53% $1,000 51% 1
Acre 1% 95 9/4/2021 2.3 17.8 $20.00 14000 2.96 $900 53% $900 50% 0
Dell 1% 86 5/24/2016 YES 3.0 17.0 $20.00 14000 5.60 $1,000 56% $1,000 51% 1

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C123231 Round: 1
Dec. 31, 2021

Low End Statistics

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

Next Year's Segment Growth Rate |10.8%

Low End Customer Buying Criteria
Expectations Importance
1. Price $14.50 - 24.50 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 2.2 Size 17.8 16%
4. Reliability MTBF 12000-17000 7%

Top Products in Low End Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Cedar 19% 1,893 5/24/2016 YES 3.0 17.0 $21.00 14000 5.60 $1,500 71% $2,000 49% 20
Acre 17% 1,724 9/4/2021 2.3 17.8 $20.00 14000 2.96 $900 53% $900 33% 15
Ebb 17% 1,712 5/24/2016 YES 3.0 17.0 $20.00 14000 5.60 $900 53% $1,000 35% 19
Bead 16% 1,642 5/24/2016 YES 3.0 17.0 $21.50 14000 5.60 $1,300 65% $1,362 40% 16
Feat 16% 1,595 5/24/2016 YES 3.0 17.0 $21.00 14000 5.60 $900 53% $900 33% 15
Dell 13% 1,339 5/24/2016 YES 3.0 17.0 $20.00 14000 5.60 $1,000 56% $1,000 35% 19
Able 1% 82 4/3/2021 YES 5.1 14.4 $28.00 17500 2.42 $1,000 58% $1,000 33% 0
Daze 1% 50 11/21/2017 5.5 14.5 $28.00 17500 4.10 $1,200 65% $1,000 35% 0
Eat 0% 49 11/21/2017 YES 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 35% 0
Fast 0% 4 3/5/2021 YES 5.4 14.4 $28.00 17500 2.46 $1,500 73% $1,000 33% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C123231 Round: 1
Dec. 31, 2021

High End Statistics

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

Next Year's Segment Growth Rate |15.2%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 9.8 Size 10.2 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $29.50 - 39.50 9%

Top Products in High End Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Fist 18% 535 9/10/2021 YES 8.9 11.1 $38.00 23000 1.50 $1,000 54% $900 42% 22
Bid 15% 461 12/25/2021 9.2 10.8 $39.50 23500 1.35 $1,250 62% $1,362 51% 31
Dixie 15% 446 7/14/2021 YES 9.0 11.7 $39.50 23000 1.58 $1,200 60% $1,100 46% 18
Adam 15% 433 9/19/2021 8.9 11.1 $40.00 23000 1.49 $800 48% $800 40% 18
Cid 14% 407 9/25/2021 YES 9.0 11.0 $38.00 23000 1.48 $1,000 54% $1,500 54% 27
Echo 12% 359 9/2/2021 YES 8.9 11.1 $38.00 23000 1.51 $800 48% $800 41% 21
Bold 3% 99 8/25/2021 9.1 14.5 $34.50 22500 1.92 $1,300 61% $654 51% 4
Foam 2% 69 3/10/2021 YES 9.4 15.3 $33.00 26000 2.15 $700 42% $700 42% 1
Coat 1% 32 6/30/2018 9.4 15.5 $33.00 25000 3.50 $750 44% $750 54% 0
Edge 1% 25 1/15/2021 YES 9.4 15.5 $33.00 26000 3.50 $800 46% $800 41% 0
Buddy 1% 22 8/6/2021 5.1 11.2 $34.50 19000 2.00 $1,300 61% $708 51% 1
Aft 1% 20 7/20/2021 10.4 15.3 $33.00 25000 1.97 $700 42% $700 40% 0

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C123231 Round: 1
Dec. 31, 2021

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

Next Year's Segment Growth Rate |18.8%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 10.4 Size 15.3 29%
3. Price $24.50 - 34.50 19%
4. Age Ideal Age = 1.0 9%

Top Products in Performance Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Dot 19% 450 4/17/2021 10.0 15.5 $34.00 25000 2.10 $1,051 54% $1,050 34% 21
Foam 19% 439 3/10/2021 YES 9.4 15.3 $33.00 26000 2.15 $700 42% $700 29% 22
Aft 17% 405 7/20/2021 10.4 15.3 $33.00 25000 1.97 $700 42% $700 29% 20
Edge 16% 374 1/15/2021 YES 9.4 15.5 $33.00 26000 3.50 $800 46% $800 30% 21
Coat 16% 368 6/30/2018 9.4 15.5 $33.00 25000 3.50 $750 44% $750 30% 16
Bold 12% 276 8/25/2021 9.1 14.5 $34.50 22500 1.92 $1,300 61% $654 29% 7
Daze 0% 1 11/21/2017 5.5 14.5 $28.00 17500 4.10 $1,200 65% $1,000 34% 0

CAPSTONE ® COURIER Page 8

Size Segment Analysis C123231 Round: 1
Dec. 31, 2021

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

Next Year's Segment Growth Rate |17.3%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 4.7 Size 9.6 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $24.50 - 34.50 9%

Top Products in Size Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Fume 21% 507 5/28/2021 YES 4.0 10.2 $33.00 19000 2.10 $1,000 52% $900 37% 24
Dune 19% 438 7/14/2021 YES 4.3 10.0 $34.00 19000 2.03 $1,001 52% $1,110 40% 31
Egg 16% 374 3/17/2021 YES 4.0 10.6 $33.00 19000 2.20 $700 42% $700 35% 18
Buddy 15% 364 8/6/2021 5.1 11.2 $34.50 19000 2.00 $1,300 61% $708 36% 15
Cure 12% 272 5/25/2018 4.0 11.0 $33.00 19000 3.60 $750 44% $750 38% 7
Agape 11% 265 11/29/2021 4.7 9.6 $35.00 19000 1.84 $700 42% $700 34% 29
Able 2% 42 4/3/2021 YES 5.1 14.4 $28.00 17500 2.42 $1,000 58% $1,000 34% 2
Fast 1% 32 3/5/2021 YES 5.4 14.4 $28.00 17500 2.46 $1,500 73% $1,000 37% 1
Baker 1% 30 3/10/2021 YES 5.4 14.5 $29.50 17000 2.45 $1,300 67% $1,362 36% 1
Cake 1% 13 3/16/2021 YES 5.7 14.5 $29.00 17000 2.45 $1,500 73% $2,000 38% 0
Daze 1% 12 11/21/2017 5.5 14.5 $28.00 17500 4.10 $1,200 65% $1,000 40% 0
Eat 0% 12 11/21/2017 YES 5.5 14.5 $28.00 17500 4.10 $1,000 58% $1,000 35% 0

CAPSTONE ® COURIER Page 9

 Round: 1
Market Share C123231 Dec. 31, 2021

Actual Market Share in Units Potential Market Share in Units

Trad Low High Pfmn Size Total Trad Low High Pfmn Size Total
Industry Unit Sales 8,119 10,089 2,985 2,315 2,360 25,869 Units Demanded 8,119 10,089 2,985 2,315 2,360 25,869
% of Market 31.4% 39.0% 11.5% 8.9% 9.1% 100.0% % of Market 31.4% 39.0% 11.5% 8.9% 9.1% 100.0%

Able 15.3% 0.8% 0.2% 1.8% 5.3% Able 16.9% 0.2% 2.0% 5.6%
Acre 1.2% 17.1% 7.0% Acre 1.2% 16.0% 6.6%
Adam 14.5% 1.7% Adam 12.1% 1.4%
Aft 0.7% 17.5% 1.6% Aft 0.7% 16.3% 1.5%
Agape 11.2% 1.0% Agape 9.9% 0.9%
Total 16.5% 17.9% 15.4% 17.5% 13.0% 16.7% Total 18.0% 16.2% 13.0% 16.3% 11.9% 16.0%

Baker 20.1% 0.5% 1.3% 6.5% Baker 18.4% 0.5% 1.3% 5.9%
Bead 1.6% 16.3% 6.9% Bead 1.3% 14.9% 6.2%
Bid 15.5% 1.8% Bid 13.4% 1.6%
Bold 3.3% 11.9% 1.5% Bold 2.6% 11.4% 1.3%
Buddy 0.7% 15.4% 1.5% Buddy 0.5% 13.3% 1.3%
Total 21.7% 16.3% 20.0% 11.9% 16.7% 18.1% Total 19.7% 14.9% 17.1% 11.4% 14.6% 16.3%

Cake 14.2% 0.5% 0.6% 4.6% Cake 21.6% 0.6% 0.7% 6.9%
Cedar 1.6% 18.8% 7.8% Cedar 1.6% 19.0% 7.9%
Cid 13.6% 1.6% Cid 17.4% 2.0%
Coat 1.1% 15.9% 1.6% Coat 1.0% 14.9% 1.4%
Cure 0.3% 11.5% 1.1% Cure 10.4% 1.0%
Total 16.0% 18.8% 15.2% 15.9% 12.1% 16.6% Total 23.2% 19.0% 19.0% 14.9% 11.1% 19.2%

Daze 15.3% 0.5% 0.3% 0.5% 5.1% Daze 7.7% 0.2% 0.5% 2.5%
Dell 1.1% 13.3% 5.5% Dell 1.4% 17.6% 7.3%
Dixie 14.9% 1.7% Dixie 17.0% 2.0%
Dot 0.4% 19.4% 1.8% Dot 0.4% 18.2% 1.7%
Dune 18.5% 1.7% Dune 20.3% 1.9%
Total 16.4% 13.8% 15.6% 19.5% 19.1% 15.8% Total 9.1% 17.7% 17.6% 18.2% 20.8% 15.3%

Eat 12.4% 0.5% 0.2% 0.5% 4.2% Eat 7.6% 0.2% 0.5% 2.5%
Ebb 1.4% 17.0% 7.0% Ebb 1.4% 17.8% 7.4%
Echo 12.0% 1.4% Echo 14.6% 1.7%
Edge 0.8% 16.2% 1.5% Edge 0.9% 19.5% 1.9%
Egg 15.8% 1.5% Egg 18.8% 1.7%
Total 13.8% 17.4% 13.1% 16.2% 16.3% 15.6% Total 9.1% 18.0% 15.8% 19.5% 19.3% 15.2%

Fast 13.9% 0.3% 1.4% 4.6% Fast 19.6% 0.4% 1.8% 6.4%
Feat 1.6% 15.8% 6.7% Feat 1.2% 14.2% 5.9%
Fist 17.9% 2.1% Fist 15.0% 1.7%
Foam 2.3% 18.9% 2.0% Foam 2.2% 19.6% 2.0%
Fume 21.5% 2.0% Fume 20.5% 1.9%
Total 15.6% 15.8% 20.6% 19.0% 22.8% 17.2% Total 20.9% 14.3% 17.5% 19.6% 22.4% 17.9%

CAPSTONE ® COURIER Page 10

 Round: 1
Perceptual Map C123231 Dec. 31, 2021

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 5.1 14.4 4/3/2021 Baker 5.4 14.5 3/10/2021 Cake 5.7 14.5 3/16/2021
Acre 2.3 17.8 9/4/2021 Bead 3.0 17.0 5/24/2016 Cedar 3.0 17.0 5/24/2016
Adam 8.9 11.1 9/19/2021 Bid 9.2 10.8 12/25/2021 Cid 9.0 11.0 9/25/2021
Aft 10.4 15.3 7/20/2021 Bold 9.1 14.5 8/25/2021 Coat 9.4 15.5 6/30/2018
Agape 4.7 9.6 11/29/2021 Buddy 5.1 11.2 8/6/2021 Cure 4.0 11.0 5/25/2018

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 5.5 14.5 11/21/2017 Eat 5.5 14.5 11/21/2017 Fast 5.4 14.4 3/5/2021
Dell 3.0 17.0 5/24/2016 Ebb 3.0 17.0 5/24/2016 Feat 3.0 17.0 5/24/2016
Dixie 9.0 11.7 7/14/2021 Echo 8.9 11.1 9/2/2021 Fist 8.9 11.1 9/10/2021
Dot 10.0 15.5 4/17/2021 Edge 9.4 15.5 1/15/2021 Foam 9.4 15.3 3/10/2021
Dune 4.3 10.0 7/14/2021 Egg 4.0 10.6 3/17/2021 Fume 4.0 10.2 5/28/2021

CAPSTONE ® COURIER Page 11

 Round: 1
HR/TQM Report C123231 Dec. 31, 2021
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 701 726 651 640 596 681
Complement 701 726 651 640 596 681
1st Shift Complement 640 676 564 640 538 638
2nd Shift Complement 61 50 87 0 58 43
Overtime Percent 0.0% 0.0% 0.0% 0.1% 0.0% 0.0%
Turnover Rate 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
New Employees 71 99 65 64 60 68
Separated Employees 0 0 49 60 104 19
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 $71 $99 $65 $64 $60 $68
Separation Cost $0 $0 $245 $300 $520 $95
Training Cost $0 $0 $0 $0 $0 $0
Total HR Admin Cost $71 $99 $310 $364 $580 $163
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 Andrews C123231
Dec. 31, 2021
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2021 2020
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 $18,557 18.0% $3,434
current value of your inventory across all products. A zero
Account Receivable $9,494 9.2% $8,307
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $6,527 6.3% $8,617
Equipment: The current value of your plant. Accum Total Current Assets $34,578 33.6% $20,358
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $113,800 111.0% $113,800
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($45,520) -44.3% ($37,933)
of operations. It includes emergency loans used to keep Total Fixed Assets $68,280 66.4% $75,867
your company solvent should you run out of cash during Total Assets $102,859 100.0% $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 $6,776 6.6% $6,583
instead of paying to shareholders as dividends.
Current Debt $0 0.0% $0
Long Term Debt $41,700 40.5% $41,700
Total Liabilities $48,476 47.1% $48,283

Common Stock $18,360 17.8% $18,360

Retained Earnings $36,023 35.0% $29,582
Total Equity $54,383 52.9% $47,942
Total Liab. & O. Equity $102,859 100.0% $96,225

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2021 2020
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $6,441 $4,189
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $7,587 $7,587
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs $0 $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable $193 $3,583
are bad and you find yourself carrying an abundance of excess inventory,
Inventory $2,090 ($8,617)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($1,187) ($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 $15,124 $6,434
afloat. Cash Flows from Investing Activities
Plant Improvements $0 $0
Cash Flows from Financing Activities
Dividends paid $0 ($4,000)
Sales of common stock $0 $0
Purchase of common stock $0 $0
Cash from long term debt $0 $0
Retirement of long term debt $0 $0
Change in current debt(net) $0 $0
Net cash from financing activities $0 ($4,000)
Net change in cash position $15,124 $2,434
Closing cash position $18,557 $3,434

Annual Report Page 13

 Round: 1
Annual Report Andrews C123231
Dec. 31, 2021
2021 Income Statement
2021 Common
(Product Name) Able Acre Adam Aft Agape
Total
Size
Sales $38,489 $36,374 $17,338 $14,034 $9,276 $0 $0 $0 $115,510 100.0%
Variable Costs:
Direct Labor $10,741 $13,585 $3,879 $3,795 $2,366 $0 $0 $0 $34,367 29.8%
Direct Material $15,160 $12,934 $6,770 $6,655 $3,495 $0 $0 $0 $45,014 39.0%
Inventory Carry $0 $32 $35 $257 $459 $0 $0 $0 $783 0.7%
Total Variable $25,901 $26,551 $10,685 $10,707 $6,320 $0 $0 $0 $80,164 69.4%
Contribution Margin $12,588 $9,823 $6,653 $3,326 $2,955 $0 $0 $0 $35,345 30.6%
Period Costs:
Depreciation $2,640 $2,427 $1,080 $720 $720 $0 $0 $0 $7,587 6.6%
SG&A: R&D $258 $684 $725 $558 $922 $0 $0 $0 $3,147 2.7%
Promotions $1,000 $900 $800 $700 $700 $0 $0 $0 $4,100 3.6%
Sales $1,000 $900 $800 $700 $700 $0 $0 $0 $4,100 3.6%
Admin $293 $277 $132 $107 $71 $0 $0 $0 $880 0.8%
Total Period $5,191 $5,188 $3,537 $2,785 $3,113 $0 $0 $0 $19,813 17.2%
Net Margin $7,397 $4,635 $3,115 $542 ($158) $0 $0 $0 $15,532 13.4%
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 $15,532 13.4%
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 4.7%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $3,539 3.1%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $131 0.1%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $6,441 5.6%
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