Round: 4

Dec. 31, C110299

2023
Andrews Baldwin Chester
Shilpi Agarwal Samridhi Arora
Karan Dharia Shubham Chhabra
Jayaram Hariharakri Shreya Dayanand Gud
Aishwarya Sinha Vinit Jain
Sachit Tripathi Sagar Moondra

Digby Erie Ferris

Vaishali Aravamutha Abhishek Grover Aruna Mohanty
Akash Bhatt Chaithra Jayachandr Shivani Parwani
TARINI KUMAR Sivaraman KS Daksh Ranawat
Ujjawal Mittal Jithin Nair Jitender Sehrawat
Partho Mukherjee Parth Thakker Devansh Sharma
Shivram V.S. Pranav Vora

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS -2.5% 0.9% 3.2% 4.2% -0.7% -2.1%
Asset Turnover 1.38 1.37 1.04 1.13 1.48 1.48
ROA -3.4% 1.3% 3.3% 4.8% -1.1% -3.1%
Leverage 1.9 4.1 2.0 2.0 2.1 2.2
ROE -6.7% 5.3% 6.6% 9.6% -2.2% -6.7%
Emergency Loan $0 $9,615,471 $0 $2,840,662 $0 $9,522,796
Sales $124,652,593 $202,454,259 $129,275,659 $152,929,715 $153,946,586 $158,277,681
EBIT $93,813 $16,631,527 $12,849,137 $17,500,635 $3,613,961 $1,218,002
Profits ($3,104,327) $1,920,713 $4,139,296 $6,437,276 ($1,125,712) ($3,294,853)
Cumulative Profit $2,231,939 ($10,045,765) $21,077,541 $16,155,225 $4,306,540 $1,318,516
SG&A / Sales 15.5% 16.4% 14.4% 15.4% 17.2% 17.1%
Contrib. Margin % 25.4% 31.4% 34.7% 37.1% 31.4% 26.7%

CAPSTONE ® COURIER Page 1

 Round: 4
Stock & Bonds C110299 Dec. 31, 2023
Stock Market Summary
MarketCap
Company Close Change Shares Book Value EPS Dividend Yield P/E
($M)
Andrews $14.15 ($4.96) 2,014,704 $29 $23.07 ($1.54) $0.00 0.0% -9.2
Baldwin $5.11 $4.11 2,361,543 $12 $15.33 $0.81 $0.00 0.0% 6.3
Chester $43.09 ($0.59) 2,161,236 $93 $29.15 $1.92 $0.81 1.9% 22.5
Digby $36.73 $3.60 2,208,996 $81 $30.29 $2.91 $0.00 0.0% 12.6
Erie $24.26 ($4.45) 2,072,312 $50 $24.40 ($0.54) $0.00 0.0% -44.7
Ferris $18.18 ($6.47) 2,149,695 $39 $22.83 ($1.53) $0.00 0.0% -11.9

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
13.4S2025 $20,850,000 13.2% 101.51 B 13.4S2025 $20,850,000 13.2% 101.17 B
10.7S2030 $1,500,000 11.6% 91.91 B 11.8S2031 $20,000,000 12.3% 95.64 B
Baldwin 12.1S2032 $2,000,000 12.5% 96.89 B
13.4S2025 $20,850,000 13.6% 98.20 DDD Erie
10.7S2030 $15,400,000 12.7% 83.95 DDD 13.4S2025 $20,850,000 13.3% 101.00 B
12.0S2031 $2,000,000 13.5% 88.59 DDD 10.7S2030 $7,575,000 11.8% 90.65 B
13.0S2032 $23,000,000 14.0% 92.71 DDD 12.0S2033 $4,000,000 12.5% 95.62 B
13.9S2033 $11,700,000 14.3% 96.93 DDD Ferris
Chester 13.4S2025 $20,850,000 13.3% 100.50 CCC
13.4S2025 $20,850,000 13.2% 101.34 B 12.1S2033 $2,000,000 12.8% 94.59 CCC
11.7S2033 $9,808,062 12.3% 95.04 B

Next Year's Prime Rate8.40%

CAPSTONE ® COURIER Page 2
 Round: 4
Financial Summary C110299 Dec. 31, 2023
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) ($3,104) $1,921 $4,139 $6,437 ($1,126) ($3,295)
Adjustment for non-cash items:
Depreciation $8,789 $12,027 $9,027 $11,620 $9,156 $9,747
Extraordinary gains/losses/writeoffs $0 $0 $0 ($330) ($330) $0
Changes in current assets and liablilities
Accounts payable ($289) $3,424 $69 ($382) $754 $955
Inventory $7,509 ($8,098) ($8,073) ($8,239) ($6,676) ($4,913)
Accounts Receivable ($423) ($9,416) $135 ($78) ($867) ($313)
Net cash from operations $12,483 ($144) $5,297 $9,028 $911 $2,181

Cash flows from investing activities

Plant improvements(net) ($6,860) ($11,700) ($8,400) ($15,030) ($17,970) ($11,480)
Cash flows from financing activities
Dividends paid $0 $0 ($1,745) $0 $0 $0
Sales of common stock $0 $0 $0 $0 $0 $2,000
Purchase of common stock $0 $0 ($608) $0 $0 $0
Cash from long term debt issued $0 $11,700 $9,808 $0 $4,000 $2,000
Early retirement of long term debt $0 $0 $0 $0 $0 $0
Retirement of current debt ($9,031) ($16,472) ($12,634) $0 $0 ($6,224)
Cash from current debt borrowing $4,000 $7,000 $13,366 $0 $0 $2,000
Cash from emergency loan $0 $9,615 $0 $2,841 $0 $9,523

Net cash from financing activities ($5,031) $11,844 $8,187 $2,841 $4,000 $9,299

Net change in cash position $592 $0 $5,083 ($3,161) ($13,059) $0

Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $592 $0 $21,512 $0 $3,957 $0
Accounts Receivable $10,587 $24,960 $10,625 $12,570 $12,653 $13,009
Inventory $17,637 $14,977 $19,278 $20,320 $13,796 $17,333
Total Current Assets $28,816 $39,937 $51,416 $32,890 $30,406 $30,342

Plant and equipment $131,840 $180,400 $135,400 $174,300 $137,340 $149,700

Accumulated Depreciation ($70,496) ($72,707) ($62,347) ($72,313) ($63,763) ($72,932)
Total Fixed Assets $61,344 $107,693 $73,053 $101,987 $73,577 $76,768

Total Assets $90,160 $147,630 $124,469 $134,877 $103,984 $107,110

Accounts Payable $3,425 $7,957 $7,417 $8,377 $9,099 $9,765

Current Debt $17,900 $30,515 $23,394 $16,741 $11,900 $25,423
Long Term Debt $22,350 $72,950 $30,658 $42,850 $32,425 $22,850
Total Liabilities $43,675 $111,422 $61,469 $67,968 $53,424 $58,038

Common Stock $18,860 $20,860 $24,234 $25,360 $20,860 $22,360

Retained Earnings $27,626 $15,348 $38,767 $41,549 $29,700 $26,712
Total Equity $46,485 $36,208 $63,001 $66,909 $50,560 $49,072

Total Liabilities & Owners Equity $90,160 $147,630 $124,469 $134,877 $103,984 $107,110

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $124,653 $202,454 $129,276 $152,930 $153,947 $158,278
Variable Costs(Labor,Material,Carry) $92,961 $138,912 $84,478 $96,125 $105,684 $115,974
Depreciation $8,789 $12,027 $9,027 $11,620 $9,156 $9,747
SGA(R&D,Promo,Sales,Admin) $19,309 $33,299 $18,672 $23,514 $26,523 $27,139
Other(Fees,Writeoffs,TQM,Bonuses) $3,500 $1,585 $4,250 $4,170 $8,970 $4,200
EBIT $94 $16,632 $12,849 $17,501 $3,614 $1,218
Interest(Short term,Long term) $4,870 $13,616 $6,351 $7,395 $5,346 $6,287
Taxes ($1,672) $1,055 $2,274 $3,537 ($606) ($1,774)
Profit Sharing $0 $39 $84 $131 $0 $0
Net Profit ($3,104) $1,921 $4,139 $6,437 ($1,126) ($3,295)

CAPSTONE ® COURIER Page 3

 Round: 4
Production Analysis C110299 Dec. 31, 2023

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 592 0 5/13/2024 3.3 14700 7.1 14.3 $25.00 $8.12 $8.67 32% 0% 4.3 1,800 17%
Acre Low 2,274 182 1/29/2020 8.6 12000 3.7 17.7 $17.75 $4.58 $8.26 26% 40% 5.4 1,500 139%
Adam High 435 268 4/20/2023 1.5 23000 12.0 9.5 $38.00 $14.49 $10.08 30% 0% 3.2 900 39%
Aft Pfmn 736 106 5/5/2023 1.7 27000 12.8 14.8 $32.50 $14.35 $11.04 20% 25% 3.2 600 124%
Agape Size 654 209 7/1/2023 1.6 18500 6.7 8.4 $33.00 $11.98 $10.76 29% 17% 3.2 600 116%
Apple Trad 307 54 4/7/2023 0.7 14500 7.8 13.6 $24.25 $8.63 $12.65 10% 100% 3.1 500 145%

Baker Trad 1,898 46 8/7/2023 1.9 14500 8.3 13.0 $25.00 $9.16 $7.50 32% 30% 5.7 1,500 130%
Bead Low 2,486 38 1/29/2020 8.6 12000 3.7 17.7 $17.50 $4.62 $5.17 42% 50% 7.5 1,400 150%
Bid Trad 1,978 16 6/7/2023 2.1 14500 8.5 13.0 $25.00 $9.24 $8.38 28% 25% 5.0 1,600 125%
Bold Pfmn 510 88 8/29/2023 2.0 27000 13.0 14.8 $33.00 $14.60 $9.63 27% 20% 4.0 500 120%
Buddy Size 192 314 9/6/2023 2.1 19000 6.8 8.4 $34.00 $12.27 $10.20 24% 0% 3.0 500 80%
Bingo High 452 147 1/31/2024 1.5 24000 11.4 10.0 $39.00 $14.47 $12.62 27% 100% 3.0 700 199%
Brain High 554 23 5/9/2023 0.6 23000 12.7 8.8 $38.00 $15.20 $12.62 26% 100% 3.0 700 128%

Cake Trad 1,222 425 9/14/2023 1.4 14000 8.5 12.9 $26.00 $9.06 $7.12 35% 35% 6.0 1,000 134%
Cedar Low 1,432 210 1/29/2020 8.6 12000 3.7 17.7 $19.00 $4.59 $3.93 53% 7% 8.0 1,400 106%
Cid High 513 228 11/15/2023 1.1 23000 13.2 8.2 $37.00 $15.52 $10.15 28% 0% 3.0 700 92%
Coat Pfmn 772 100 9/21/2023 1.4 27000 14.1 13.9 $32.00 $15.26 $9.40 22% 42% 4.5 800 140%
Cure Size 831 107 9/21/2023 1.3 17000 7.5 7.3 $32.00 $12.31 $9.12 33% 29% 4.5 850 127%

Daze Trad 1,201 876 8/18/2023 2.1 14500 7.7 13.7 $24.00 $8.16 $5.85 36% 11% 7.0 1,800 110%
Dell Low 2,641 181 1/29/2020 8.6 12000 3.7 17.7 $17.00 $4.37 $4.45 44% 41% 8.5 1,700 140%
Dixie High 41 45 2/13/2023 3.4 20000 10.4 11.0 $38.00 $0.00 $0.00 28% 0% 3.0 400 0%
Dot Pfmn 739 0 7/20/2023 1.5 27000 13.4 14.5 $33.00 $14.07 $8.62 31% 40% 4.2 500 139%
Dune Size 729 14 6/28/2023 1.5 18000 7.0 8.0 $33.00 $11.56 $10.06 34% 36% 4.0 550 135%
Duke High 768 206 9/1/2023 0.8 23000 12.6 8.6 $38.00 $14.41 $9.40 35% 13% 3.0 800 111%

Eat Trad 1,585 428 10/17/2023 1.4 14000 8.6 12.7 $24.79 $8.79 $7.35 34% 6% 5.2 1,800 102%
Ebb Low 2,300 163 1/24/2024 8.6 13000 3.7 17.7 $17.69 $4.67 $6.23 36% 71% 7.1 1,400 165%
Echo High 304 166 12/23/2023 1.2 23000 12.8 8.5 $38.19 $14.58 $9.25 34% 0% 3.0 550 70%
Edge Pfmn 721 51 9/16/2023 1.4 27000 13.8 14.2 $33.49 $14.39 $9.78 28% 78% 4.5 650 171%
Egg Size 344 4 3/31/2023 1.7 18000 6.5 8.7 $32.49 $11.15 $11.45 30% 100% 3.0 180 193%
Exotic High 482 0 6/17/2023 0.9 24000 12.8 8.6 $38.49 $14.82 $14.31 24% 100% 1.0 450 193%
Esize Size 257 0 6/14/2023 0.5 19000 7.0 7.7 $32.99 $12.04 $14.59 19% 100% 2.0 550 103%

Fast Trad 1,671 310 9/15/2023 1.4 15000 8.5 12.7 $25.00 $9.58 $7.81 30% 4% 5.0 1,800 103%
Feat Low 2,429 132 8/8/2023 4.5 12000 4.2 17.2 $17.25 $5.07 $7.24 26% 39% 6.0 1,700 138%
Fist High 495 370 10/4/2023 1.5 23000 12.7 8.6 $38.00 $15.38 $10.22 27% 0% 3.0 900 80%
Foam Pfmn 353 0 12/9/2023 2.0 27000 13.2 14.5 $32.00 $14.87 $9.58 28% 0% 3.5 600 47%
Fume Size 771 41 10/7/2023 1.3 18500 7.2 7.7 $33.00 $12.67 $10.37 30% 37% 4.0 600 135%
Fataka High 495 0 10/31/2023 0.9 25000 13.3 8.1 $38.50 $16.43 $15.81 17% 100% 2.0 500 198%
Fruit 0 0 4/6/2024 0.0 0 0.0 0.0 $0.00 $0.00 $0.00 0% 0% 2.0 250 0%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C110299 Round: 4
Dec. 31, 2023

Traditional Statistics
Total Industry Unit Demand 10,338
Actual Industry Unit Sales |10,338
Segment % of Total Industry |28.6%

Next Year's Segment Growth Rate |9.9%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $18.00 - 28.00 23%
3. Ideal Position Pfmn 8.5 Size 12.9 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
Bid 19% 1,978 6/7/2023 8.5 13.0 $25.00 14500 2.08 $2,000 100% $2,000 87% 61
Baker 18% 1,898 8/7/2023 8.3 13.0 $25.00 14500 1.91 $2,000 100% $2,000 87% 61
Fast 16% 1,671 9/15/2023 8.5 12.7 $25.00 15000 1.45 $1,700 100% $1,750 56% 41
Eat 15% 1,572 10/17/2023 8.6 12.7 $24.79 14000 1.38 $1,500 98% $2,000 57% 38
Cake 12% 1,222 9/14/2023 8.5 12.9 $26.00 14000 1.45 $1,150 71% $1,675 50% 30
Daze 11% 1,137 8/18/2023 7.7 13.7 $24.00 14500 2.09 $1,300 96% $2,000 62% 45
Able 5% 550 5/13/2024 YES 7.1 14.3 $25.00 14700 3.32 $800 70% $800 59% 10
Apple 3% 304 4/7/2023 7.8 13.6 $24.25 14500 0.73 $800 40% $800 59% 13
Foam 0% 5 12/9/2023 YES 13.2 14.5 $32.00 27000 1.97 $1,300 78% $1,400 56% 0

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C110299 Round: 4
Dec. 31, 2023

Low End Statistics

Total Industry Unit Demand 13,685
Actual Industry Unit Sales |13,685
Segment % of Total Industry |37.8%

Next Year's Segment Growth Rate |10.3%

Low End Customer Buying Criteria
Expectations Importance
1. Price $13.00 - 23.00 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 4.4 Size 17.0 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
Dell 19% 2,641 1/29/2020 3.7 17.7 $17.00 12000 8.60 $1,500 99% $2,200 73% 38
Bead 18% 2,486 1/29/2020 3.7 17.7 $17.50 12000 8.60 $2,200 100% $2,200 65% 35
Feat 18% 2,429 8/8/2023 4.2 17.2 $17.25 12000 4.50 $1,900 100% $2,200 62% 35
Ebb 17% 2,300 1/24/2024 3.7 17.7 $17.69 13000 8.60 $1,500 89% $2,000 66% 33
Acre 17% 2,274 1/29/2020 3.7 17.7 $17.75 12000 8.60 $2,000 90% $2,000 72% 32
Cedar 10% 1,432 1/29/2020 3.7 17.7 $19.00 12000 8.60 $1,150 70% $1,758 50% 20
Daze 0% 64 8/18/2023 7.7 13.7 $24.00 14500 2.09 $1,300 96% $2,000 73% 1
Able 0% 42 5/13/2024 YES 7.1 14.3 $25.00 14700 3.32 $800 70% $800 72% 2
Eat 0% 14 10/17/2023 8.6 12.7 $24.79 14000 1.38 $1,500 98% $2,000 66% 0
Apple 0% 3 4/7/2023 7.8 13.6 $24.25 14500 0.73 $800 40% $800 72% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C110299 Round: 4
Dec. 31, 2023

High End Statistics

Total Industry Unit Demand 4,540
Actual Industry Unit Sales |4,540
Segment % of Total Industry |12.6%

Next Year's Segment Growth Rate |15.6%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 13.2 Size 8.2 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $28.00 - 38.00 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
Duke 17% 768 9/1/2023 12.6 8.6 $38.00 23000 0.84 $2,200 89% $2,200 69% 49
Brain 12% 554 5/9/2023 12.7 8.8 $38.00 23000 0.64 $1,950 69% $1,950 72% 48
Cid 11% 513 11/15/2023 13.2 8.2 $37.00 23000 1.13 $1,100 65% $1,758 50% 38
Fataka 11% 495 10/31/2023 YES 13.3 8.1 $38.50 25000 0.90 $1,300 47% $2,200 64% 42
Fist 11% 495 10/4/2023 12.7 8.6 $38.00 23000 1.48 $1,450 85% $1,600 64% 38
Exotic 11% 482 6/17/2023 YES 12.8 8.6 $38.49 24000 0.95 $1,000 53% $1,200 58% 35
Bingo 10% 452 1/31/2024 11.4 10.0 $39.00 24000 1.50 $1,750 86% $1,750 72% 17
Adam 10% 435 4/20/2023 12.0 9.5 $38.00 23000 1.51 $1,000 66% $1,250 45% 19
Echo 7% 304 12/23/2023 12.8 8.5 $38.19 23000 1.22 $1,100 75% $1,100 58% 37
Dixie 1% 41 2/13/2023 10.4 11.0 $38.00 20000 3.41 $100 58% $100 69% 1

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C110299 Round: 4
Dec. 31, 2023

Performance Statistics
Total Industry Unit Demand 3,825
Actual Industry Unit Sales |3,825
Segment % of Total Industry |10.6%

Next Year's Segment Growth Rate |19.2%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 14.1 Size 13.9 29%
3. Price $23.00 - 33.00 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
Coat 20% 772 9/21/2023 14.1 13.9 $32.00 27000 1.42 $1,100 64% $1,591 41% 41
Dot 19% 739 7/20/2023 YES 13.4 14.5 $33.00 27000 1.49 $1,500 81% $2,000 47% 42
Aft 19% 736 5/5/2023 12.8 14.8 $32.50 27000 1.65 $1,000 63% $1,750 53% 34
Edge 19% 721 9/16/2023 13.8 14.2 $33.49 27000 1.41 $1,300 77% $2,000 47% 41
Bold 13% 510 8/29/2023 13.0 14.8 $33.00 27000 2.01 $1,500 86% $1,700 42% 37
Foam 9% 348 12/9/2023 YES 13.2 14.5 $32.00 27000 1.97 $1,300 78% $1,400 47% 39

CAPSTONE ® COURIER Page 8

Size Segment Analysis C110299 Round: 4
Dec. 31, 2023

Size Statistics
Total Industry Unit Demand 3,778
Actual Industry Unit Sales |3,778
Segment % of Total Industry |10.4%

Next Year's Segment Growth Rate |17.0%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 7.5 Size 7.3 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $23.00 - 33.00 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
Cure 22% 831 9/21/2023 7.5 7.3 $32.00 17000 1.35 $1,150 66% $1,591 43% 37
Fume 20% 771 10/7/2023 7.2 7.7 $33.00 18500 1.33 $1,400 86% $1,700 52% 45
Dune 19% 729 6/28/2023 7.0 8.0 $33.00 18000 1.51 $1,500 85% $1,900 51% 34
Agape 17% 654 7/1/2023 6.7 8.4 $33.00 18500 1.56 $1,250 78% $1,750 52% 25
Egg 9% 344 3/31/2023 6.5 8.7 $32.49 18000 1.65 $1,000 63% $700 40% 15
Esize 7% 257 6/14/2023 YES 7.0 7.7 $32.99 19000 0.54 $1,500 61% $1,200 40% 28
Buddy 5% 192 9/6/2023 6.8 8.4 $34.00 19000 2.07 $1,000 65% $1,000 28% 15

CAPSTONE ® COURIER Page 9

 Round: 4
Market Share C110299 Dec. 31, 2023

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 10,338 13,685 4,540 3,825 3,778 36,166 Units Demanded 10,338 13,685 4,540 3,825 3,778 36,166
% of Market 28.6% 37.8% 12.6% 10.6% 10.4% 100.0% % of Market 28.6% 37.8% 12.6% 10.6% 10.4% 100.0%

Able 5.3% 0.3% 1.6% Able 7.1% 0.5% 2.2%

Acre 16.6% 6.3% Acre 16.6% 6.3%
Adam 9.6% 1.2% Adam 8.9% 1.1%
Aft 19.2% 2.0% Aft 18.5% 2.0%
Agape 17.3% 1.8% Agape 13.8% 1.4%
Apple 2.9% 0.9% Apple 2.9% 0.8%
Total 8.3% 16.9% 9.6% 19.2% 17.3% 13.8% Total 10.0% 17.1% 8.8% 18.5% 13.8% 13.8%

Baker 18.4% 5.3% Baker 18.1% 5.2%

Bead 18.2% 6.9% Bead 18.1% 6.9%
Bid 19.1% 5.5% Bid 18.7% 5.4%
Bold 13.3% 1.4% Bold 12.8% 1.4%
Buddy 5.1% 0.5% Buddy 4.4% 0.5%
Bingo 10.0% 1.3% Bingo 9.4% 1.2%
Brain 12.2% 1.5% Brain 12.0% 1.5%
Total 37.5% 18.2% 22.1% 13.3% 5.1% 22.3% Total 36.8% 18.1% 21.5% 12.8% 4.4% 21.9%

Cake 11.8% 3.4% Cake 11.6% 3.3%

Cedar 10.5% 4.0% Cedar 10.4% 4.0%
Cid 11.3% 1.4% Cid 10.4% 1.3%
Coat 20.2% 2.1% Coat 19.4% 2.1%
Cure 22.0% 2.3% Cure 19.1% 2.0%
Total 11.8% 10.5% 11.3% 20.2% 22.0% 13.2% Total 11.6% 10.4% 10.4% 19.4% 19.1% 12.6%

Daze 11.0% 0.5% 3.3% Daze 10.8% 0.5% 3.3%

Dell 19.3% 7.3% Dell 19.3% 7.3%
Dixie 0.9% 0.1% Dixie 0.8%
Dot 19.3% 2.0% Dot 20.9% 2.2%
Dune 19.3% 2.0% Dune 21.0% 2.2%
Duke 16.9% 2.1% Duke 15.6% 2.0%
Total 11.0% 19.8% 17.8% 19.3% 19.3% 16.9% Total 10.8% 19.7% 16.5% 20.9% 21.0% 17.0%

Eat 15.2% 4.4% Eat 14.9% 4.3%

Ebb 16.8% 6.4% Ebb 16.8% 6.3%
Echo 6.7% 0.8% Echo 6.2% 0.8%
Edge 18.8% 2.0% Edge 18.2% 1.9%
Egg 9.1% 0.9% Egg 12.2% 1.3%
Exotic 10.6% 1.3% Exotic 13.2% 1.7%
Esize 6.8% 0.7% Esize 8.5% 0.9%
Total 15.2% 16.9% 17.3% 18.8% 15.9% 16.6% Total 14.9% 16.9% 19.4% 18.2% 20.7% 17.2%

Fast 16.2% 4.6% Fast 15.9% 4.5%

Feat 17.8% 6.7% Feat 17.7% 6.7%
Fist 10.9% 1.4% Fist 10.1% 1.3%
Foam 9.1% 1.0% Foam 10.2% 1.1%
Fume 20.4% 2.1% Fume 21.0% 2.2%
Fataka 10.9% 1.4% Fataka 13.3% 1.7%
Total 16.2% 17.8% 21.8% 9.1% 20.4% 17.2% Total 15.9% 17.7% 23.4% 10.2% 20.9% 17.4%

CAPSTONE ® COURIER Page 10

 Round: 4
Perceptual Map C110299 Dec. 31, 2023

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 7.1 14.3 5/13/2024 Baker 8.3 13.0 8/7/2023 Cake 8.5 12.9 9/14/2023
Acre 3.7 17.7 1/29/2020 Bead 3.7 17.7 1/29/2020 Cedar 3.7 17.7 1/29/2020
Adam 12.0 9.5 4/20/2023 Bid 8.5 13.0 6/7/2023 Cid 13.2 8.2 11/15/2023
Aft 12.8 14.8 5/5/2023 Bold 13.0 14.8 8/29/2023 Coat 14.1 13.9 9/21/2023
Agape 6.7 8.4 7/1/2023 Buddy 6.8 8.4 9/6/2023 Cure 7.5 7.3 9/21/2023
Apple 7.8 13.6 4/7/2023 Bingo 11.4 10.0 1/31/2024
Brain 12.7 8.8 5/9/2023

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 7.7 13.7 8/18/2023 Eat 8.6 12.7 10/17/2023 Fast 8.5 12.7 9/15/2023
Dell 3.7 17.7 1/29/2020 Ebb 3.7 17.7 1/24/2024 Feat 4.2 17.2 8/8/2023
Dixie 10.4 11.0 2/13/2023 Echo 12.8 8.5 12/23/2023 Fist 12.7 8.6 10/4/2023
Dot 13.4 14.5 7/20/2023 Edge 13.8 14.2 9/16/2023 Foam 13.2 14.5 12/9/2023
Dune 7.0 8.0 6/28/2023 Egg 6.5 8.7 3/31/2023 Fume 7.2 7.7 10/7/2023
Duke 12.6 8.6 9/1/2023 Exotic 12.8 8.6 6/17/2023 Fataka 13.3 8.1 10/31/2023
Esize 7.0 7.7 6/14/2023

CAPSTONE ® COURIER Page 11

 Round: 4
HR/TQM Report C110299 Dec. 31, 2023
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 758 1,140 666 771 939 984
Complement 758 1,140 666 771 939 984
1st Shift Complement 591 830 547 618 651 801
2nd Shift Complement 167 310 119 153 288 183
Overtime Percent 0.0% 0.0% 0.0% 0.1% 0.0% 0.0%
Turnover Rate 9.7% 8.1% 10.8% 8.6% 7.5% 10.5%
New Employees 73 566 72 67 114 157
Separated Employees 46 0 31 128 0 0
Recruiting Spend $750 $2,500 $2,000 $2,000 $2,500 $2,000
Training Hours 30 50 25 40 80 0
Productivity Index 101.2% 103.6% 100.8% 110.2% 106.9% 100.0%
Recruiting Cost $128 $1,982 $217 $200 $400 $470
Separation Cost $230 $0 $153 $640 $0 $0
Training Cost $455 $1,140 $333 $617 $1,502 $0
Total HR Admin Cost $813 $3,122 $703 $1,457 $1,902 $470
Labor Contract Next Year
Wages $26.57 $26.74 $25.52 $26.27 $26.35 $26.37
Benefits 2,625 2,750 2,625 2,688 2,695 2,750
Profit Sharing 2.1% 2.2% 2.1% 2.2% 2.1% 2.1%
Annual Raise 5.3% 5.5% 5.3% 5.4% 5.4% 5.3%
Starting Negotiation Position
Wages $24.00 $26.74 $24.31 $25.80 $23.60 $26.00
Benefits 2,500 2,750 2,500 2,625 2,400 2,750
Profit Sharing 2.0% 2.2% 2.0% 2.1% 2.0% 2.0%
Annual Raise 5.0% 5.5% 5.0% 5.3% 4.8% 5.0%
Ceiling Negotiation Position
Wages $26.40 $29.41 $26.74 $28.38 $25.96 $28.60
Benefits 2,750 3,025 2,750 2,888 2,640 3,025
Profit Sharing 2.2% 2.4% 2.2% 2.3% 2.2% 2.2%
Annual Raise 5.5% 6.1% 5.5% 5.8% 5.3% 5.5%
Adjusted Labor Demands
Wages $26.74 $26.74 $26.74 $26.74 $26.74 $26.74
Benefits 2,750 2,750 2,750 2,750 2,750 2,750
Profit Sharing 2.2% 2.2% 2.2% 2.2% 2.2% 2.2%
Annual Raise 5.5% 5.5% 5.5% 5.5% 5.5% 5.5%
Strike Days 2 0 0 0 9 0

TQM SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Process Mgt Budgets Last Year
CPI Systems $1,000 $0 $750 $1,500 $0 $0
VendorJIT $0 $0 $750 $0 $1,500 $0
Quality Initiative Training $0 $0 $750 $0 $1,500 $0
Channel Support Systems $0 $0 $0 $0 $0 $500
Concurrent Engineering $500 $1,000 $0 $0 $1,600 $0
UNEP Green Programs $1,000 $0 $750 $0 $0 $1,000

TQM Budgets Last Year

Benchmarking $0 $0 $0 $0 $0 $0
Quality Function Deployment Effort $0 $0 $0 $0 $1,500 $1,000
CCE/6 Sigma Training $0 $0 $0 $1,500 $1,500 $1,500
GEMI TQEM Sustainability Initiatives $1,000 $0 $750 $1,500 $1,500 $0
Total Expenditures $3,500 $1,000 $3,750 $4,500 $9,100 $4,000

Cumulative Impacts
Material Cost Reduction 1.98% 1.05% 1.85% 6.42% 6.07% 0.36%
Labor Cost Reduction 0.26% 0.49% 1.60% 6.21% 8.18% 0.91%
Reduction R&D Cycle Time 8.46% 5.12% 0.00% 0.00% 28.05% 0.96%
Reduction Admin Costs 0.00% 0.00% 2.44% 0.00% 22.03% 0.05%
Demand Increase 0.83% 0.55% 0.23% 0.02% 2.35% 1.18%

CAPSTONE ® COURIER Page 12

 Round: 4
Ethics Report C110299 Dec. 31, 2023
ETHICS SUMMARY
Other (Fees, Writeoffs, etc.) The actual dollar impact. Example, $120 means Other increased by $120.
Demand Factor The % of normal. 98% means demand fell 2%.
Material Cost Impact The % of normal. 104% means matieral costs rose 4%.
Admin Cost Impact The % of normal. 103% means admin costs rose 3%.
Productivity Impact The % of normal. 104% means productivity increased by 4%.
Awareness Impact The % of normal. 105% means normal awareness was multiplied by 1.05.
Accessibility Impact The % of normal. 98% means normal accessiblity was multiplied by 0.98.
Normal means the value that would have been produced if the problem had not been presented.

No Impact Andrews Baldwin Chester Digby Erie Ferris

Total
Other (Fees, Writeoffs, etc.) $0 $0 $0 $0 $0 $0 $0
Demand Factor 100% 100% 100% 100% 100% 100% 100%
Material Cost Impact 100% 100% 100% 100% 100% 100% 100%
Admin Cost Impact 100% 100% 100% 100% 100% 100% 100%
Productivity Impact 100% 100% 100% 100% 100% 100% 100%
Awareness Impact 100% 100% 100% 100% 100% 100% 100%
Accessibility Impact 100% 100% 100% 100% 100% 100% 100%

CAPSTONE ® COURIER Page 13

 Annual Report
Round: 4
Annual Report Digby C110299
Dec. 31, 2023
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2023 2022
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 $0 0.0% $3,161
current value of your inventory across all products. A zero
Account Receivable $12,570 9.3% $12,492
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $20,320 15.1% $12,081
Equipment: The current value of your plant. Accum Total Current Assets $32,890 24.4% $27,734
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $174,300 129.0% $159,900
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($72,313) -53.6% ($61,653)
of operations. It includes emergency loans used to keep Total Fixed Assets $101,987 75.6% $98,247
your company solvent should you run out of cash during Total Assets $134,877 100.0% $125,981
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 $8,377 6.2% $8,759
instead of paying to shareholders as dividends.
Current Debt $16,741 12.4% $0
Long Term Debt $42,850 31.8% $56,750
Total Liabilities $67,968 50.4% $65,509

Common Stock $25,360 18.8% $25,360

Retained Earnings $41,549 30.8% $35,112
Total Equity $66,909 49.6% $60,472
Total Liab. & O. Equity $134,877 100.0% $125,981

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2023 2022
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $6,437 $1,963
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $11,620 $10,660
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs ($330) ($420)
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable ($382) $3,006
are bad and you find yourself carrying an abundance of excess inventory,
Inventory ($8,239) ($5,121)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable ($78) ($1,206)
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 $9,028 $8,882
afloat. Cash Flows from Investing Activities
Plant Improvements ($15,030) ($17,260)
Cash Flows from Financing Activities
Dividends paid $0 $0
Sales of common stock $0 $2,000
Purchase of common stock $0 $0
Cash from long term debt $0 $2,000
Retirement of long term debt ($13,900) $0
Change in current debt(net) $16,741 ($6,950)
Net cash from financing activities $2,841 ($2,950)
Net change in cash position ($3,161) ($11,328)
Closing cash position $0 $3,161

Annual Report Page 14

 Round: 4
Annual Report Digby C110299
Dec. 31, 2023
2023 Income Statement
2023 Common
(Product Name) Daze Dell Dixie Dot Dune Duke
Total
Size
Sales $28,835 $44,894 $1,574 $24,386 $24,051 $0 $29,189 $0 $152,930 100.0%
Variable Costs:
Direct Labor $7,073 $12,392 $401 $6,416 $7,333 $0 $7,357 $0 $40,973 26.8%
Direct Material $9,835 $12,411 $607 $10,451 $8,479 $0 $10,930 $0 $52,714 34.5%
Inventory Carry $1,479 $204 $132 $0 $36 $0 $588 $0 $2,438 1.6%
Total Variable $18,387 $25,008 $1,140 $16,868 $15,849 $0 $18,875 $0 $96,125 62.9%
Contribution Margin $10,448 $19,886 $434 $7,519 $8,203 $0 $10,314 $0 $56,805 37.1%
Period Costs:
Depreciation $4,080 $4,533 $480 $760 $807 $0 $960 $0 $11,620 7.6%
SG&A: R&D $639 $0 $120 $556 $495 $0 $677 $0 $2,487 1.6%
Promotions $1,300 $1,500 $100 $1,500 $1,500 $0 $2,200 $0 $8,100 5.3%
Sales $2,000 $2,200 $100 $2,000 $1,900 $0 $2,200 $0 $10,400 6.8%
Admin $477 $742 $26 $403 $397 $0 $482 $0 $2,527 1.7%
Total Period $8,495 $8,975 $826 $5,219 $5,099 $0 $6,519 $0 $35,134 23.0%
Net Margin $1,953 $10,911 ($392) $2,300 $3,103 $0 $3,795 $0 $21,671 14.2%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $4,170 2.7%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $17,501 11.4%
straight-line. 15-year depreciation of plant value. R&D Costs: R&D department expenditures for each Short Term Interest $1,999 1.3%
product. Admin: Administration overhead is estimated at 1.5% of sales. Promotions: The promotion budget Long Term Interest $5,396 3.5%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $3,537 2.3%
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 $6,437 4.2%
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 15