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Round: 1

Dec. 31, 2014

C55527_003

Andrews
James Wilson

Baldwin

Chester

Digby

Erie

Ferris

Selected Financial Statistics


ROS
Asset Turnover
ROA
Leverage
(Assets/Equity)
ROE
Emergency Loan
Sales
EBIT
Profits
Cumulative Profit
SG&A / Sales
Contrib. Margin %

CAPSTONE COURIER

Andrews
5.9%
1.24
7.4%

Baldwin
6.0%
1.11
6.6%

Chester
3.4%
1.10
3.8%

Digby
5.0%
1.10
5.5%

Erie
4.4%
1.01
4.4%

Ferris
5.8%
1.27
7.4%

1.8

1.9

2.0

2.0

2.0

2.0

12.9%
$0
$119,338,687
$15,792,397
$7,091,900
$11,280,407
13.4%
33.1%

12.9%
$0
$122,900,075
$17,388,301
$7,356,885
$11,545,392
12.5%
33.1%

7.6%
$0
$120,784,380
$12,405,880
$4,127,847
$8,316,355
12.2%
29.1%

10.9%
$0
$117,238,887
$14,988,619
$5,902,507
$10,091,014
13.7%
33.1%

8.8%
$0
$115,028,956
$14,052,982
$5,036,599
$9,225,106
9.6%
29.1%

14.3%
$0
$116,334,419
$15,329,681
$6,741,558
$10,930,065
13.8%
33.0%

Page 1

Stock & Bonds

Round: 1
Dec. 31, 2014

C55527_003
Stock Market Summary

Company
Andrews
Baldwin
Chester
Digby
Erie
Ferris

Close

Change

Shares

$44.34
$44.77
$38.48
$41.95
$40.25
$43.16

$10.09
$10.52
$4.23
$7.70
$5.99
$8.91

2,000,000
2,046,274
2,069,366
2,015,280
2,128,085
2,000,000

MarketCap
($M)
$89
$92
$80
$85
$86
$86

Book Value

EPS

Dividend

Yield

P/E

$27.52
$27.80
$26.31
$26.98
$26.96
$23.49

$3.55
$3.60
$1.99
$2.93
$2.37
$3.37

$0.00
$0.00
$0.00
$0.00
$0.00
$3.85

0.0%
0.0%
0.0%
0.0%
0.0%
8.9%

12.5
12.4
19.3
14.3
17.0
12.8

Bond Market Summary


Company
Andrews

Series#

Face

Yield

Close$

S&P Company
Digby
BB
BB
BB Erie

11.0S2015
12.5S2017
14.0S2019

$23,786
$13,900,000
$20,850,000

11.0%
11.9%
12.4%

100.45
104.93
113.10

11.0S2015
12.5S2017
14.0S2019

$1,043,788
$13,900,000
$20,850,000

11.0%
12.1%
12.6%

99.91
103.42
110.69

B
B
B Ferris

11.0S2015
12.5S2017
14.0S2019

$1,832,081
$13,900,000
$20,850,000

11.0%
12.1%
12.7%

99.73
102.92
109.90

B
B
B

Baldwin

Chester

Series#

Face

Yield

Close$

S&P

12.5S2017
14.0S2019

$13,886,425
$20,850,000

12.1%
12.7%

103.17
110.30

B
B

11.0S2015
12.5S2017
14.0S2019

$3,836,531
$13,900,000
$20,850,000

11.0%
12.1%
12.7%

99.82
103.17
110.30

B
B
B

12.5S2017
14.0S2019

$6,077,384
$20,850,000

12.1%
12.6%

103.42
110.69

B
B

Next Year's Prime Rate 7.50%


CAPSTONE COURIER

Page 2

Financial Summary
Cash Flow Statement Survey
CashFlows from operating activities
Net Income(Loss)
Adjustment for non-cash items:
Depreciation
Extraordinary gains/losses/writeoffs
Changes in current assets and liablilities
Acounts payable
Inventory
Accounts Receivable
Net cash from operations

C55527_003

Round: 1
Dec. 31, 2014

Andrews

Baldwin

Chester

Digby

Erie

Ferris

$7,092

$7,357

$4,128

$5,903

$5,037

$6,742

$7,267
$290

$7,553
$229

$7,573
$254

$7,267
$291

$7,987
$157

$5,853
$952

$81
($2,575)
($1,501)
$10,654

$179
($1,213)
($1,794)
$12,311

$475
($1,442)
($1,620)
$9,368

($114)
($1,444)
($1,329)
$10,573

$105
($942)
($1,147)
$11,196

($167)
($1,306)
($1,254)
$10,819

Cash flows from investing activities


Plant improvements(net)
Cash flows from financing activities
Dividends paid
Sales of common stock
Purchase of common stock
Cash from long term debt issued
Early retirement of long term debt
Retirement of current debt
Cash from current debt borrowing
Cash from emergency loan

($800)

($3,875)

($4,770)

($800)

($9,080)

$15,220

$0
$0
$0
$0
($6,950)
$0
$0
$0

$0
$1,585
$0
$0
($5,926)
$0
$11,359
$0

$0
$2,376
$0
$0
($5,135)
$0
$11,359
$0

$0
$523
$0
$0
($6,988)
$0
$11,359
$0

$0
$4,387
$0
$0
($3,124)
$0
$11,359
$0

($7,699)
$0
$0
$0
($15,211)
$0
$11,359
$0

Net cash from financing activities

($6,950)

$7,017

$8,599

$4,894

$12,622

($11,551)

Net change in cash position


Balance Sheet Survey
Cash
Accounts Receivable
Inventory
Total Current Assets

$2,904
Andrews
$6,338
$9,809
$11,192
$27,338

$15,453
Baldwin
$18,887
$10,101
$9,830
$38,819

$13,197
Chester
$16,631
$9,927
$10,060
$36,618

$14,667
Digby
$18,101
$9,636
$10,061
$37,798

$14,738
Erie
$18,172
$9,454
$9,560
$37,186

$14,487
Ferris
$17,921
$9,562
$9,924
$37,406

Plant and equipment


Accumulated Depreciation
Total Fixed Assets

$109,000
($39,867)
$69,133

$113,300
($41,320)
$71,980

$113,600
($40,773)
$72,827

$109,000
($39,867)
$69,133

$119,800
($42,987)
$76,813

$87,800
($33,520)
$54,280

Total Assets

$96,472

$110,799

$109,445

$106,932

$113,999

$91,686

Account Payable
CurrentDebt
Long Term Debt
Total Liabilities

$6,664
$0
$34,774
$41,438

$6,762
$11,359
$35,794
$53,915

$7,058
$11,359
$36,582
$54,999

$6,469
$11,359
$34,736
$52,564

$6,688
$11,359
$38,587
$56,633

$6,416
$11,359
$26,927
$44,702

Common Stock
Retained Earnings
Total Equity

$18,360
$36,674
$55,034

$19,945
$36,939
$56,884

$20,736
$33,710
$54,446

$18,883
$35,485
$54,368

$22,747
$34,619
$57,366

$18,360
$28,624
$46,984

Total Liabilities & Owners'' Equity

$96,472

$110,799

$109,445

$106,932

$113,999

$91,686

Income Statement Survey


Sales
Variable Costs(Labor,Material,Carry)
Depreciation
SGA(R&D,Promo,Sales,Admin)
Other(Fees,Writeoffs,TQM,Bonuses)
EBIT
Interest(Short term,Long term)
Taxes
Profit Sharing
Net Profit

Andrews
$119,339
$79,851
$7,267
$16,034
$395
$15,792
$4,659
$3,897
$145
$7,092

Baldwin
$122,900
$82,242
$7,553
$15,320
$397
$17,388
$5,839
$4,042
$150
$7,357

Chester
$120,784
$85,642
$7,573
$14,713
$450
$12,406
$5,926
$2,268
$84
$4,128

Digby
$117,239
$78,468
$7,267
$16,093
$422
$14,989
$5,723
$3,243
$120
$5,903

Erie
$115,029
$81,579
$7,987
$10,987
$424
$14,053
$6,146
$2,767
$103
$5,037

Ferris
$116,334
$77,950
$5,853
$16,022
$1,180
$15,330
$4,746
$3,704
$138
$6,742

CAPSTONE COURIER

Page 3

C55527_003

Production Analysis

Name
Able
Acre
Adam
Aft
Agape

Primary
Segment
Trad
Low
High
Pfmn
Size

Units
Sold
1,167
1,636
486
457
404

Unit
Inven
tory
230
66
74
91
79

Baker
Bead
Bid
Bold
Buddy

Trad
Low
High
Pfmn
Size

1,395
1,763
443
367
397

Cake
Cedar
Cid
Coat
Cure

Trad
Low
High
Pfmn
Size

Daze
Dell
Dixie
Dot
Dune

Price
$29.50
$22.00
$39.50
$34.50
$34.50

Material
Cost
$11.30
$7.05
$16.11
$16.14
$13.66

Labor
Cost
$7.85
$7.26
$9.18
$8.97
$8.97

Contr.
Marg.
33%
33%
36%
28%
34%

2nd
Shift
&
Overtime
0%
20%
5%
0%
0%

14.5
17.0
10.8
14.5
11.2

$29.50
$21.50
$39.50
$34.50
$34.50

$10.45
$7.05
$16.22
$14.21
$12.83

$7.85
$7.57
$9.40
$8.97
$8.97

36%
30%
36%
29%
35%

0%
36%
11%
0%
0%

5.0
6.0
3.0
3.0
3.0

1,600 84%
1,400 134%
450 110%
600 58%
600 66%

5.7
3.0
9.1
10.6
4.9

14.3
17.0
10.9
14.7
9.7

$27.50
$20.00
$37.50
$32.50
$32.50

$10.10
$6.45
$15.96
$16.14
$13.42

$7.85
$7.79
$8.97
$8.97
$8.97

32%
27%
33%
24%
30%

0%
50%
0%
0%
0%

5.0
6.5
3.0
3.0
3.0

1,400 88%
1,400 149%
600 91%
600 74%
600 66%

17800
14000
23500
26000
19000

6.1
3.0
9.1
10.6
4.9

14.0
17.0
10.9
14.7
9.8

$29.50
$22.00
$39.50
$34.50
$34.50

$11.30
$7.05
$16.11
$16.14
$13.66

$7.85
$7.29
$9.36
$8.98
$8.98

34%
33%
36%
28%
35%

0%
21%
10%
0%
0%

5.0
6.0
3.0
3.0
3.0

1,400 78%
1,400 120%
500 109%
600 74%
600 66%

2.4
5.6
1.4
3.5
3.6

16500
13000
17000
25000
19000

5.6
3.0
7.0
9.4
4.0

14.5
17.0
12.9
15.5
11.0

$27.50
$20.00
$39.50
$34.50
$34.50

$10.40
$6.75
$12.08
$14.81
$12.60

$8.10
$7.89
$8.97
$8.97
$8.97

30%
25%
37%
28%
34%

7%
57%
0%
0%
0%

5.0
6.0
4.0
3.0
3.0

1,400 106%
1,400 156%
900 33%
600 50%
600 50%

2.5
5.6
1.4
1.8
1.8

17500
13000
24000
26000
19000

5.6
3.0
9.1
10.6
4.7

14.5
17.0
10.9
14.8
9.6

$29.50
$22.00
$39.50
$34.50
$34.50

$10.70
$6.75
$16.26
$16.11
$13.73

$8.13
$7.86
$8.97
$8.97
$8.97

34%
32%
36%
28%
35%

8%
55%
0%
0%
0%

4.0
5.0
3.0
4.0
4.0

1,200 107%
1,000 153%
500 99%
600 74%
600 58%

Revision Date
6/11/2014
5/25/2009
11/23/2014
11/3/2014
11/2/2014

Age
Dec.31
2.3
5.6
1.4
1.8
1.9

MTBF
17800
14000
23500
26000
19000

Pfmn
Coord
6.1
3.0
9.1
10.6
4.9

Size
Coord
14.0
17.0
10.9
14.7
9.8

130
157
93
57
62

3/10/2014
5/25/2009
12/25/2014
8/25/2014
8/6/2014

2.5
5.6
1.4
1.9
2.0

17000
14000
23500
22500
19000

5.4
3.0
9.2
9.1
5.1

1,284
1,983
486
482
367

143
136
99
41
92

4/22/2014
1/29/2014
11/26/2014
11/13/2014
12/17/2014

2.4
5.6
1.4
1.8
1.8

15000
12000
23000
26000
18000

Trad
Low
High
Pfmn
Size

1,139
1,589
482
452
408

139
133
103
71
51

6/11/2014
5/25/2009
11/23/2014
11/3/2014
11/2/2014

2.3
5.6
1.4
1.8
1.9

Eat
Ebb
Echo
Edge
Egg

Trad
Low
High
Pfmn
Size

1,524
2,056
276
319
292

150
161
61
55
68

3/17/2014
1/15/2014
12/23/2014
6/30/2011
12/24/2015

Fast
Feat
Fist
Foam
Fume

Trad
Low
High
Pfmn
Size

1,364
1,440
426
444
355

112
133
109
79
54

3/3/2014
1/15/2014
12/22/2014
11/10/2014
12/10/2014

CAPSTONE COURIER

Round: 1
Dec. 31, 2014

Auto
mation
Next
Round
5.0
6.0
3.0
3.0
3.0

Capacity
Next Plant
Round Utiliz.
1,400 86%
1,400 119%
500 104%
600 78%
600 70%

Page 4

Traditional Segment Analysis

C55527_003

Round: 1
Dec. 31, 2014

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
Market

Cust.

Sold to Revision

Pfmn

Size

Out

Coord

Coord

Name

Share

Seg

Eat

18%

1,490

3/17/2014

5.6

Baker

17%

1,352

3/10/2014

5.4

Fast

16%

1,321

3/3/2014

Cake

16%

1,257

Able

14%

Daze

13%

Ebb

List

Age

Promo Aware-

Cust.
Sales Access-

Dec.
Cust.

Price

MTBF

Dec.31

Budget

ness

Budget

ibility

Survey

14.5

$27.50

16500

2.44

$1,050

56%

$1,015

68%

36

14.5

$29.50

17000

2.45

$1,300

58%

$1,362

63%

32

5.6

14.5

$29.50

17500

2.46

$1,100

57%

$1,175

60%

32

4/22/2014

5.7

14.3

$27.50

15000

2.39

$1,100

57%

$1,070

58%

33

1,100

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

59%

$1,834

61%

35

1,074

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

57%

$1,330

63%

34

1%

88

1/15/2014

3.0

17.0

$20.00

13000

5.60

$1,050

35%

$1,015

68%

Bead

1%

88

5/25/2009

3.0

17.0

$21.50

14000

5.60

$1,300

35%

$1,362

63%

Acre

1%

83

5/25/2009

3.0

17.0

$22.00

14000

5.60

$1,100

35%

$1,965

61%

Dell

1%

82

5/25/2009

3.0

17.0

$22.00

14000

5.60

$1,100

35%

$1,396

63%

Feat

1%

64

1/15/2014

3.0

17.0

$22.00

13000

5.60

$1,100

35%

$1,175

60%

Cedar

1%

63

1/29/2014

3.0

17.0

$20.00

12000

5.60

$1,100

35%

$1,123

58%

CAPSTONE COURIER

Date

Stock

Page 5

Low End Segment Analysis

C55527_003

Round: 1
Dec. 31, 2014

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
Market

Cust.

Sold to Revision

Pfmn

Size

Out

Coord

Coord

Name

Share

Seg

Ebb

20%

1,968

1/15/2014

3.0

Cedar

19%

1,920

1/29/2014

3.0

Bead

17%

1,675

5/25/2009

Acre

16%

1,554

Dell

15%

Feat

14%

Eat
Cake

List

Age

Promo Aware-

Cust.
Sales Access-

Dec.
Cust.

Price

MTBF

Dec.31

Budget

ness

Budget

ibility

Survey

17.0

$20.00

13000

5.60

$1,050

54%

$1,015

47%

19

17.0

$20.00

12000

5.60

$1,100

55%

$1,123

49%

19

3.0

17.0

$21.50

14000

5.60

$1,300

56%

$1,362

54%

17

5/25/2009

3.0

17.0

$22.00

14000

5.60

$1,100

57%

$1,965

53%

16

1,507

5/25/2009

3.0

17.0

$22.00

14000

5.60

$1,100

55%

$1,396

54%

15

1,377

1/15/2014

3.0

17.0

$22.00

13000

5.60

$1,100

55%

$1,175

50%

14

0%

3/17/2014

5.6

14.5

$27.50

16500

2.44

$1,050

37%

$1,015

47%

0%

4/22/2014

5.7

14.3

$27.50

15000

2.39

$1,100

37%

$1,070

49%

CAPSTONE COURIER

Date

Stock

Page 6

High End Segment Analysis

C55527_003

Round: 1
Dec. 31, 2014

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
1. Ideal Position

43%

Ideal Age = 0.0

29%

MTBF 20000-25000

19%

2. Age
3. Reliability

Importance

Pfmn 9.8 Size 10.2

4. Price

$29.50 - 39.50

9%

Top Products in High End Segment


Units
Market

Cust.

Sold to Revision

Stock

Pfmn

Size

Out

Coord

Coord

Name

Share

Seg

Date

Cid

16%

486

11/26/2014

9.1

Adam

16%

486

11/23/2014

9.1

Dixie

16%

482

11/23/2014

Bid

15%

443

Fist

List

Age

Promo Aware-

Cust.
Sales Access-

Dec.
Cust.

Price

MTBF

Dec.31

Budget

ness

Budget

ibility

Survey

10.9

$37.50

23000

1.39

$1,000

52%

$1,123

55%

28

10.9

$39.50

23500

1.40

$1,100

56%

$1,114

60%

29

9.1

10.9

$39.50

23500

1.40

$1,100

52%

$1,396

60%

29

12/25/2014

9.2

10.8

$39.50

23500

1.35

$1,250

54%

$1,362

59%

31

14%

426

12/22/2014

9.1

10.9

$39.50

24000

1.36

$1,000

52%

$1,175

56%

30

Echo

9%

276

12/23/2014

7.0

12.9

$39.50

17000

1.36

$900

33%

$725

32%

Bold

3%

88

8/25/2014

9.1

14.5

$34.50

22500

1.92

$1,300

30%

$654

59%

Able

1%

36

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

37%

$1,834

60%

Daze

1%

36

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

37%

$1,330

60%

Coat

1%

33

11/13/2014

10.6

14.7

$32.50

26000

1.81

$1,000

30%

$1,016

55%

Dot

1%

31

11/3/2014

10.6

14.7

$34.50

26000

1.82

$1,100

30%

$1,263

60%

Aft

1%

31

11/3/2014

10.6

14.7

$34.50

26000

1.82

$1,100

30%

$852

60%

CAPSTONE COURIER

Page 7

Performance Segment Analysis

C55527_003

Round: 1
Dec. 31, 2014

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
Market

Cust.

Sold to Revision

Stock

Pfmn

Size

Out

Coord

Coord

Name

Share

Seg

Date

Coat

20%

449

11/13/2014

10.6

Aft

19%

427

11/3/2014

10.6

Dot

18%

421

11/3/2014

Foam

18%

416

Edge

13%

Bold

12%

Able

List

Age

Promo Aware-

Cust.
Sales Access-

Dec.
Cust.

Price

MTBF

Dec.31

Budget

ness

Budget

ibility

Survey

14.7

$32.50

26000

1.81

$1,000

52%

$1,016

46%

30

14.7

$34.50

26000

1.82

$1,100

56%

$852

51%

29

10.6

14.7

$34.50

26000

1.82

$1,100

52%

$1,263

50%

29

11/10/2014

10.6

14.8

$34.50

26000

1.81

$1,000

52%

$1,175

49%

29

298

6/30/2011

9.4

15.5

$34.50

25000

3.50

$300

46%

$145

26%

13

278

8/25/2014

9.1

14.5

$34.50

22500

1.92

$1,300

57%

$654

38%

0%

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

37%

$1,834

51%

Daze

0%

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

37%

$1,330

50%

Fast

0%

3/3/2014

5.6

14.5

$29.50

17500

2.46

$1,100

37%

$1,175

49%

CAPSTONE COURIER

Page 8

Size Segment Analysis

C55527_003

Round: 1
Dec. 31, 2014

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
1. Ideal Position

43%

Ideal Age = 1.5

29%

MTBF 16000-21000

19%

2. Age
3. Reliability

Importance

Pfmn 4.7 Size 9.6

4. Price

$24.50 - 34.50

9%

Top Products in Size Segment


Units
Market

Cust.

Sold to Revision

Stock

Pfmn

Size

Out

Coord

Coord

Name

Share

Seg

Date

Dune

17%

406

11/2/2014

4.9

Agape

17%

403

11/2/2014

4.9

Buddy

16%

377

8/6/2014

Cure

15%

360

Fume

15%

Egg

12%

Baker

List

Age

Promo Aware-

Cust.
Sales Access-

Dec.
Cust.

Price

MTBF

Dec.31

Budget

ness

Budget

ibility

Survey

9.8

$34.50

19000

1.88

$1,100

52%

$1,263

53%

39

9.8

$34.50

19000

1.88

$1,100

54%

$786

54%

39

5.1

11.2

$34.50

19000

2.00

$1,300

54%

$708

42%

15

12/17/2014

4.9

9.7

$32.50

18000

1.81

$1,000

52%

$1,016

49%

37

354

12/10/2014

4.7

9.6

$34.50

19000

1.82

$1,000

52%

$1,175

52%

40

291

12/24/2015

4.0

11.0

$34.50

19000

3.60

$900

52%

$725

42%

1%

31

3/10/2014

5.4

14.5

$29.50

17000

2.45

$1,300

37%

$1,362

42%

Able

1%

28

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

37%

$1,834

54%

Daze

1%

27

6/11/2014

6.1

14.0

$29.50

17800

2.33

$1,100

37%

$1,330

53%

Fast

1%

24

3/3/2014

5.6

14.5

$29.50

17500

2.46

$1,100

37%

$1,175

52%

Cake

1%

23

4/22/2014

5.7

14.3

$27.50

15000

2.39

$1,100

37%

$1,070

49%

Eat

1%

21

3/17/2014

5.6

14.5

$27.50

16500

2.44

$1,050

37%

$1,015

42%

CAPSTONE COURIER

Page 9

Market Share

C55527_003

Actual Market Share in Units


Trad
8,067
31.4%

Low
10,009
39.0%

Able
Acre
Adam
Aft
Agape
Total

13.6%
1.0%

15.5%

14.7%

15.5%

Baker
Bead
Bid
Bold
Buddy
Total

16.8%
1.1%

16.7%

17.8%

16.7%

Cake
Cedar
Cid
Coat
Cure
Total

15.6%
0.8%

19.2%

16.4%

19.2%

Daze
Dell
Dixie
Dot
Dune
Total

13.3%
1.0%

15.1%

14.3%

15.1%

Eat
Ebb
Echo
Edge
Egg
Total

18.5%
1.1%

19.7%

19.6%

19.7%

Fast
Feat
Fist
Foam
Fume
Total

16.4%
0.8%

13.8%

Industry Unit Sales


% of Market

High
2,967
11.6%
1.2%
16.4%
1.0%
18.7%

14.9%
3.0%
0.7%
19.0%

18.6%
18.7%

17.2%
18.4%
1.3%

12.1%
12.1%

16.1%
17.4%
1.0%

17.6%

19.6%
19.6%

1.2%
16.2%
1.1%
18.5%

10.2%

18.3%
18.4%

13.8%

16.0%

17.3%
18.5%
0.9%

13.0%
13.0%

0.6%
14.4%
1.0%

15.3%
16.4%
1.2%

0.2%
9.3%
0.7%

CAPSTONE COURIER

Size
2,347
9.1%
1.2%

0.4%

16.4%
1.1%

17.2%

Pfmn
2,294
8.9%

12.4%
13.3%
1.0%

18.1%
18.2%

15.1%
16.1%

Round: 1
Dec. 31, 2014

Potential Market Share in Units


Total
25,684 Units Demanded
100.0% % of Market

Trad
8,067
31.4%

Low
10,009
39.0%

15.5%

4.5%
6.4%
1.9%
1.8%
1.6%
16.2%

Able
Acre
Adam
Aft
Agape
Total

13.6%
1.0%

14.7%

15.5%

5.4%
6.9%
1.7%
1.4%
1.5%
17.0%

Baker
Bead
Bid
Bold
Buddy
Total

16.8%
1.1%

16.7%

17.8%

16.7%

5.0%
7.7%
1.9%
1.9%
1.4%
17.9%

Cake
Cedar
Cid
Coat
Cure
Total

15.6%
0.8%

19.2%

16.4%

19.2%

4.4%
6.2%
1.9%
1.8%
1.6%
15.8%

Daze
Dell
Dixie
Dot
Dune
Total

13.3%
1.0%

15.1%

14.3%

15.1%

5.9%
8.0%
1.1%
1.2%
1.1%
17.4%

Eat
Ebb
Echo
Edge
Egg
Total

18.5%
1.1%

19.7%

19.6%

19.7%

5.3%
5.6%
1.7%
1.7%
1.4%
15.7%

Fast
Feat
Fist
Foam
Fume
Total

16.4%
0.8%

13.8%

17.2%

High
2,967
11.6%

Pfmn
2,294
8.9%

1.2%
16.4%
1.0%

18.6%

18.7%

18.7%

0.4%
14.9%
3.0%
0.7%
19.0%

Size
2,347
9.1%

Total
25,684
100.0%

1.2%

4.5%
6.4%
1.9%
1.8%
1.6%
16.2%

17.2%
18.4%
1.3%

12.1%
12.1%

16.0%
17.4%
1.0%

16.4%
1.1%

19.6%

17.6%

19.6%

1.2%

1.2%

16.2%
1.1%

18.3%

18.5%

18.4%

0.2%

17.3%
18.5%
0.9%

9.3%
0.7%

13.0%

10.2%

13.0%

0.6%

13.8%

15.4%
16.4%

12.4%
13.3%
1.0%

14.4%
1.0%

18.1%

16.0%

18.2%

15.1%
16.1%

5.4%
6.9%
1.7%
1.4%
1.5%
17.0%
5.0%
7.7%
1.9%
1.9%
1.4%
17.9%
4.4%
6.2%
1.9%
1.8%
1.6%
15.8%
5.9%
8.0%
1.1%
1.2%
1.1%
17.4%
5.3%
5.6%
1.7%
1.7%
1.4%
15.7%

Page 10

Perceptual Map

C55527_003

Andrews
Name
Able
Acre
Adam
Aft
Agape

Pfmn
6.1
3.0
9.1
10.6
4.9

Name
Daze
Dell
Dixie
Dot
Dune

Pfmn
6.1
3.0
9.1
10.6
4.9

Size
14.0
17.0
10.9
14.7
9.8

Baldwin
Revised
6/11/2014
5/25/2009
11/23/2014
11/3/2014
11/2/2014

Name
Baker
Bead
Bid
Bold
Buddy

Pfmn
5.4
3.0
9.2
9.1
5.1

Revised
6/11/2014
5/25/2009
11/23/2014
11/3/2014
11/2/2014

Name
Eat
Ebb
Echo
Edge
Egg

Pfmn
5.6
3.0
7.0
9.4
4.0

Digby

CAPSTONE COURIER

Size
14.0
17.0
10.9
14.7
9.8

Size
14.5
17.0
10.8
14.5
11.2

Chester
Revised
3/10/2014
5/25/2009
12/25/2014
8/25/2014
8/6/2014

Name
Cake
Cedar
Cid
Coat
Cure

Pfmn
5.7
3.0
9.1
10.6
4.9

Revised
3/17/2014
1/15/2014
12/23/2014
6/30/2011
12/24/2015

Name
Fast
Feat
Fist
Foam
Fume

Pfmn
5.6
3.0
9.1
10.6
4.7

Erie
Size
14.5
17.0
12.9
15.5
11.0

Round: 1
Dec. 31, 2014

Size
14.3
17.0
10.9
14.7
9.7

Revised
4/22/2014
1/29/2014
11/26/2014
11/13/2014
12/17/2014

Ferris
Size
14.5
17.0
10.9
14.8
9.6

Revised
3/3/2014
1/15/2014
12/22/2014
11/10/2014
12/10/2014

Page 11

HR/TQM Report

C55527_003

Round: 1
Dec. 31, 2014

HUMAN RESOURCES SUMMARY


Needed Complement
Complement
1st Shift Complement
2nd Shift Complement

Andrews
722
722
677
45

Baldwin
742
742
660
82

Chester
782
782
681
101

Digby
700
700
647
53

Erie
743
743
611
132

Ferris
692
692
596
96

Overtime Percent
Turnover Rate
New Employees
Separated Employees
Recruiting Spend
Training Hours
Productivity Index

0.0%
10.0%
94
0
$0
0
100.0%

0.0%
10.0%
116
0
$0
0
100.0%

0.1%
10.0%
160
0
$0
0
100.0%

0.0%
10.0%
70
0
$0
0
100.0%

0.0%
10.0%
117
0
$0
0
100.0%

0.1%
10.0%
69
8
$0
0
100.0%

$94
$0
$0
$94

$116
$0
$0
$116

$160
$0
$0
$160

$70
$0
$0
$70

$117
$0
$0
$117

$69
$40
$0
$109

$22.05
2,500
2.0%
5.0%

$22.05
2,500
2.0%
5.0%

$22.05
2,500
2.0%
5.0%

$22.05
2,500
2.0%
5.0%

$22.05
2,500
2.0%
5.0%

$22.05
2,500
2.0%
5.0%

Baldwin

Chester

Digby

Erie

Ferris

Recruiting Cost
Separation Cost
Training Cost
Total HR Admin Cost
Labor Contract Next Year
Wages
Benefits
Profit Sharing
Annual Raise
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
Process Mgt Budgets Last Year
CPI Systems
Vendor/JIT
Quality Initiative Training
Channel Support Systems
Concurrent Engineering
UNEP Green Programs

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

TQM Budgets Last Year


Benchmarking
Quality Function Deployment Effort
CCE/6 Sigma Training
GEMI TQEM Sustainability Initiatives
Total Expenditures

$0
$0
$0
$0
$0

$0
$0
$0
$0
$0

$0
$0
$0
$0
$0

$0
$0
$0
$0
$0

$0
$0
$0
$0
$0

$0
$0
$0
$0
$0

0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

0.00%
0.00%
0.00%
0.00%
0.00%

Cumulative Impacts
Material Cost Reduction
Labor Cost Reduction
Reduction R&D Cycle Time
Reduction Admin Costs
Demand Increase

CAPSTONE COURIER

Page 12

Annual Report
Annual Report

Andrews

C55527_003

Round: 1
Dec. 31, 2014

Balance Sheet
DEFINITIONS:
Common Size: The common size
column simply represents each item as a
percentage of total assets for that year.
Cash: Your end-of-year cash position.
Accounts Receivable: Reflects the lag
between delivery and payment of your
products. Inventories: The current
value of your inventory across all products. A
zero indicates your company stocked out.
Unmet demand would, of course, fall to your
competitors. Plant & Equipment: The
current value of your plant. Accum
Deprec: The total accumulated
depreciation from your plant. Accts
Payable: What the company currently
owes suppliers for materials and services.
Current Debt: The debt the company
is obligated to pay during the next year of
operations. It includes emergency loans used
to keep your company solvent should you run
out of cash during the year. Long
Term Debt: The company's
long term debt is in the form of bonds, and this
represents the total value of your bonds.
Common Stock: The amount of
capital invested by shareholders in the
company. Retained Earnings:
The profits that the company chose to keep
instead of paying to shareholders as dividends.

ASSETS

Cash
Account Receivable
Inventory
Total Current Assets

$27,339

2014
Common
Size
6.6%
10.2%
11.6%
28.3%

$3,434
$8,307
$8,617
$20,358

$69,133
$96,472

113.0%
-41.3%
71.7%
100.0%

$113,800
($37,933)
$75,867
$96,225

$41,438

6.9%
0.0%
36.0%
43.0%

$6,583
$0
$41,700
$48,283

$55,034
$96,472

19.0%
38.0%
57.0%
100.0%

$18,360
$29,582
$47,942
$96,225

$6,338
$9,809
$11,192

Plant & Equipment


Accumulated Depreciation
Total Fixed Assets
Total Assets
LIABILITIES & OWNER'S
EQUITY

$109,000
($39,867)

Accounts Payable
Current Debt
Long Term Debt
Total Liabilities

$6,664
$0
$34,774

Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity

$18,360
$36,674

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash


Account during the year. Cash injections appear as positive numbers and
cash withdrawals as negative numbers. The Cash Flow Statement is an
excellent tool for diagnosing emergency loans. When negative cash flows
exceed positives, you are forced to seek emergency funding. For example,
if sales are bad and you find yourself carrying an abundance of excess
inventory, the report would show the increase in inventory as a huge
negative cash flow. Too much unexpected inventory could outstrip your
inflows, exhaust your starting cash and force you to beg for money to keep
your company afloat.

Cash Flows from Operating Activities

2013

2014

2013

NetIncome(Loss)

$7,092

$4,189

Depreciation

$7,267

$7,587

$290

$0

Extraordinary gains/losses/writeoffs
Accounts Payable

$81

$3,583

Inventory

($2,575)

($8,617)

Accounts Receivable

($1,501)

($307)

Net cash from operation

$10,654

$6,434

($800)

$0

Dividends Paid

$0

($4,000)

Sales of Common Stock

$0

$0

Purchase of Common Stock

$0

$0

Cash from long term debt

$0

$0

($6,950)

$0

Cash Flows from Investing Activities


Plant Improvements
Cash Flows from Financing Activities

Retirement of long term debt


Change in current debt(net)

$0

$0

($6,950)

($4,000)

Net Change in cash position

$2,904

$2,434

Closing cash position

$6,338

$3,434

Net Cash from financing activities

Annual Report

Page 13

Annual Report

Andrews

Round: 1
Dec. 31, 2014

C55527_003

2014 Income Statement


(Product Name)

$0

2014
Total
$119,339

Common
Size
100.0%

$0
$0
$0
$0

$0
$0
$0
$0

$33,101
$45,407
$1,343
$79,851

27.7%
38.0%
1.1%
66.9%

$0

$0

$0

$39,488

33.1%

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$0
$0
$0
$0
$0
$0

$7,267
$3,055
$5,500
$6,550
$930
$23,301

6.1%
2.6%
4.6%
5.5%
0.8%
19.5%

$0

$0

$0

$16,187

13.6%

$395
$15,792
$0
$4,659
$3,897
$145
$7,092

0.3%
13.2%
0.0%
3.9%
3.3%
0.1%
5.9%

Able

Acre

Adam

Aft

Agape

NA

NA

NA

Sales

$34,422

$35,996

$19,199

$15,776

$13,945

$0

$0

Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable

$9,106
$13,365
$532
$23,002

$11,874
$12,047
$116
$24,037

$4,438
$7,541
$219
$12,199

$4,077
$7,099
$266
$11,442

$3,606
$5,355
$210
$9,171

$0
$0
$0
$0

Contribution Margin

$11,420

$11,959

$7,000

$4,335

$4,774

Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period

$2,427
$447
$1,100
$1,834
$268
$6,076

$2,800
$0
$1,100
$1,965
$280
$6,145

$600
$906
$1,100
$1,114
$150
$3,869

$720
$852
$1,100
$852
$123
$3,647

$720
$850
$1,100
$786
$109
$3,564

Net Margin

$5,344

$5,814

$3,132

$688

$1,210

Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the
product that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:
Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D department
expenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.
Promotions: The promotion budget for each product. Sales: The sales force budget for each
product. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The fees
include money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting
fees your instructor might assess. Write-offs 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 year''s 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

Other
EBIT
Short Term Interest
Long Term Interest
Taxes
Profit Sharing
Net Profit

Page 14