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C58866
Andrews
Congsi JIAO
Ning Li
kai liu
Hao Lu
Qingshao Sui
Junyi Wu
Baldwin
Wan Ying Chai
Wai Chak Billy Chun
Ru Ann Chung
Ho Fung Ronald Mak
Mandy Teo
Wing Sze Yau
Chester
Kaiyin Lian
Digby
Dung Doan
Meihua Kwong
Ninh Nguyen
Hiep Nguyen
Binh Hoang Nguyen
Immanuel Polii
Erie
jiang he
Ke Li
Tian TANG
cheng ZHANG
Jie Zhang
Yu Zhao
Ferris
Xueqing Li
Huy Nguyen
Yuhao Wang
JUE WANG
Yuan Xu
Yuan Yue
Shuyi Sun
Yudi Sun
ZHAO YING
Rui Zhang
JIREN ZHOU
CAPSTONE COURIER
Andrews
2.7%
1.21
3.3%
Baldwin
3.6%
1.29
4.6%
Chester
-5.2%
1.02
-5.3%
Digby
-1.8%
1.03
-1.9%
Erie
-10.0%
1.01
-10.1%
Ferris
-2.9%
0.80
-2.4%
3.2
2.4
5.6
3.8
2.6
2.5
10.3%
$0
$208,493,398
$20,667,072
$5,649,976
($7,747,608)
15.6%
36.8%
10.9%
$0
$138,255,017
$14,204,626
$4,928,040
($12,450,278)
16.1%
32.6%
-29.6%
$0
$177,709,026
$2,465,742
($9,225,989)
($29,421,870)
23.9%
38.3%
-7.1%
$4,889,491
$103,055,935
$5,901,299
($1,863,385)
($17,486,647)
21.2%
37.0%
-26.4%
$0
$105,266,899
($8,758,835)
($10,513,968)
($19,393,079)
20.4%
36.5%
-5.9%
$0
$94,399,826
$3,897,566
($2,778,382)
($16,592,028)
14.4%
37.8%
Page 1
Round: 3
Dec. 31, 2016
C58866
Stock Market Summary
Company
Andrews
Baldwin
Chester
Digby
Erie
Ferris
Close
Change
Shares
$21.30
$21.22
$1.00
$1.00
$1.00
$4.56
$20.14
$20.22
$0.00
$0.00
($3.45)
$3.56
2,879,966
2,279,973
2,879,966
2,000,000
3,189,919
3,455,929
MarketCap
($M)
$61
$48
$3
$2
$3
$16
Book Value
EPS
Dividend
Yield
P/E
$18.97
$19.74
$10.83
$13.13
$12.48
$13.56
$1.96
$2.16
($3.20)
($0.93)
($3.30)
($0.80)
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
10.8
9.8
-0.3
-1.1
-0.3
-5.7
Series#
Face
Yield
Close$
S&P Company
Digby
C
C
C
C
C Erie
11.9S2017
13.4S2019
10.7S2024
12.2S2025
13.3S2026
$13,900,000
$20,850,000
$18,800,000
$25,564,000
$14,000,000
12.1%
13.5%
12.5%
13.2%
13.6%
98.42
99.30
85.94
92.50
97.89
11.9S2017
13.4S2019
10.7S2024
12.1S2025
$10,748,249
$20,850,000
$18,994,000
$3,000,000
12.0%
13.3%
12.0%
12.7%
99.03
100.94
88.96
95.38
CC
CC
CC
CC
11.9S2017
13.4S2019
10.7S2024
12.5S2025
13.5S2026
$13,900,000
$20,850,000
$18,994,000
$25,766,000
$13,664,000
12.1%
13.6%
12.7%
13.6%
13.9%
98.07
98.38
84.28
92.11
96.88
DDD
DDD
DDD
DDD
DDD
Baldwin
Chester
Series#
Face
Yield
Close$
S&P
11.9S2017
13.4S2019
10.7S2024
12.0S2025
$13,900,000
$20,850,000
$10,000,000
$20,000,000
12.1%
13.6%
12.6%
13.3%
98.16
98.61
84.69
90.11
DDD
DDD
DDD
DDD
11.9S2017
13.4S2019
10.7S2024
12.1S2025
12.5S2026
$13,900,000
$20,850,000
$6,500,000
$13,000,000
$5,600,000
12.0%
13.4%
12.2%
12.9%
13.1%
98.76
100.23
87.65
93.91
95.71
CC
CC
CC
CC
CC
11.9S2017
13.4S2019
10.7S2024
11.9S2025
$13,900,000
$20,850,000
$7,000,000
$25,000,000
12.0%
13.3%
12.1%
12.7%
98.85
100.47
88.08
93.38
CC
CC
CC
CC
Ferris
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
C58866
Round: 3
Dec. 31, 2016
Andrews
Baldwin
Chester
Digby
Erie
Ferris
$5,650
$4,928
($9,226)
($1,863)
($10,514)
($2,778)
$12,832
$0
$8,744
($269)
$12,529
$0
$10,453
$0
$9,489
$824
$9,244
($101)
$3,844
($673)
($5,500)
$16,152
($767)
$6,191
($2,342)
$16,486
($223)
$10,320
($7,612)
$5,789
($1,637)
$11,338
($79)
$18,211
$99
$8,199
$189
$8,286
($567)
$11,960
($32)
$17,726
($15,516)
($2,982)
($14,200)
$0
($358)
($7,438)
$0
$0
$0
$14,000
$0
($13,950)
$3,000
$0
$0
$0
($120)
$0
($3,000)
$0
$0
$0
$0
$0
$0
$13,664
$0
($34,701)
$42,263
$0
$0
$0
$0
$0
$0
($23,101)
$0
$4,889
$0
$2,364
$0
$5,600
$0
($6,950)
$0
$0
$0
$576
$0
$0
$0
($6,950)
$0
$0
$3,050
($3,120)
$21,226
($18,211)
$1,014
($6,374)
$3,686
Andrews
$16,292
$34,273
$1,790
$52,355
$10,384
Baldwin
$24,719
$13,257
$0
$37,976
$12,815
Chester
$12,815
$43,819
$0
$56,634
$0
Digby
$0
$8,470
$2,809
$11,279
$8,942
Erie
$9,536
$8,652
$389
$18,577
$3,914
Ferris
$28,444
$7,759
$0
$36,203
$192,484
($72,337)
$120,147
$131,160
($62,189)
$68,971
$187,940
($69,801)
$118,139
$156,800
($67,800)
$89,000
$142,342
($56,431)
$85,911
$138,654
($57,415)
$81,239
Total Assets
$172,502
$106,948
$174,772
$100,279
$104,488
$117,442
Account Payable
CurrentDebt
Long Term Debt
Total Liabilities
$21,751
$3,000
$93,114
$117,865
$8,344
$0
$53,592
$61,937
$8,158
$42,263
$93,174
$143,595
$4,373
$4,889
$64,750
$74,013
$4,814
$0
$59,850
$64,664
$3,841
$0
$66,750
$70,591
$36,992
$17,646
$54,638
$32,092
$12,919
$45,011
$35,205
($4,028)
$31,177
$18,360
$7,907
$26,267
$33,824
$6,001
$39,824
$38,049
$8,802
$46,850
$172,502
$106,948
$174,772
$100,279
$104,488
$117,442
Andrews
$208,493
$131,858
$12,832
$32,436
$10,700
$20,667
$11,797
$3,104
$115
$5,650
Baldwin
$138,255
$93,210
$8,744
$22,318
($222)
$14,205
$6,468
$2,708
$101
$4,928
Chester
$177,709
$109,579
$12,529
$42,452
$10,683
$2,466
$16,660
($4,968)
$0
($9,226)
Digby
$103,056
$64,880
$10,453
$21,821
$0
$5,901
$8,768
($1,003)
$0
($1,863)
Erie
$105,267
$66,815
$9,489
$21,499
$16,222
($8,759)
$7,417
($5,661)
$0
($10,514)
Ferris
$94,400
$58,696
$9,244
$13,634
$8,928
$3,898
$8,172
($1,496)
$0
($2,778)
Common Stock
Retained Earnings
Total Equity
CAPSTONE COURIER
Page 3
Primary
Segment
Trad
Low
High
Pfmn
Size
Low
Units
Sold
2,263
2,658
951
914
914
291
0
Unit
Inven
tory
0
0
80
0
0
0
0
Baker
Bead
Bid
Bold
Buddy
Trad
Low
High
Pfmn
Size
1,377
1,589
774
735
774
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Trad
Low
High
Pfmn
Size
Low
High
Trad
Daze
Dell
Dixie
Dot
Dune
Price
$26.00
$19.00
$37.00
$32.00
$32.00
$19.00
$26.00
Material
Cost
$9.63
$6.06
$14.73
$13.89
$12.30
$6.06
$0.00
Labor
Cost
$6.63
$5.63
$7.68
$8.05
$8.05
$5.40
$0.00
Contr.
Marg.
37%
38%
39%
32%
37%
39%
0%
2nd
Shift
&
Overtime
50%
95%
33%
57%
57%
61%
0%
13.5
17.6
9.0
14.5
8.2
$23.00
$17.49
$38.00
$32.49
$32.99
$9.27
$5.13
$14.79
$13.95
$12.36
$7.26
$6.82
$8.16
$8.52
$8.92
28%
30%
40%
31%
35%
0%
29%
11%
36%
44%
4.3
5.3
3.8
4.0
3.8
1,700 68%
1,400 99%
900 86%
800 105%
800 112%
6.8
2.7
11.3
12.1
5.8
2.9
11.3
8.0
13.5
17.6
9.0
14.5
8.2
17.4
9.0
12.4
$25.00
$17.00
$37.00
$33.00
$33.00
$17.00
$38.00
$25.00
$9.63
$5.90
$14.73
$13.89
$12.30
$6.06
$14.73
$10.53
$4.88
$3.46
$8.19
$8.27
$8.56
$5.57
$6.89
$5.31
41%
44%
38%
33%
37%
31%
43%
36%
0%
62%
11%
14%
25%
0%
59%
23%
7.0
8.0
3.0
3.0
3.0
7.0
5.0
8.0
2,000
1,400
700
600
600
900
60
10
62%
160%
110%
113%
124%
99%
99%
99%
17500
15000
23000
27000
19000
6.1
2.7
10.4
11.1
5.1
14.2
17.6
9.9
15.2
9.2
$27.00
$18.60
$39.00
$34.00
$34.00
$9.58
$5.93
$14.89
$14.59
$12.26
$6.60
$4.99
$8.25
$8.80
$8.80
39%
38%
39%
30%
35%
0%
2%
0%
0%
0%
5.0
6.5
3.5
3.0
3.0
1,800
2,200
900
600
600
50%
78%
29%
49%
48%
1.7
4.2
1.3
2.9
1.6
0.6
17500
14000
24448
28000
19000
26000
6.8
2.9
11.7
10.8
5.8
12.2
13.5
17.6
9.0
15.5
8.2
12.0
$26.00
$19.50
$34.00
$32.00
$33.50
$36.50
$9.73 $6.96
$5.47 $5.80
$15.53
$6.96
$0.00 $0.00
$12.40
$8.12
$15.10 $10.56
37%
41%
35%
23%
38%
29%
0%
0%
0%
0%
0%
74%
5.0
6.0
5.0
1.0
4.0
6.0
1,400
1,400
900
1
750
800
89%
89%
27%
0%
54%
83%
1.8
4.7
1.5
5.5
5.6
17000
14000
25000
25000
19000
6.8
2.4
11.3
9.1
3.7
13.5
17.9
9.0
16.1
11.6
$26.00
$18.00
$38.00
$26.00
$31.00
$9.11
$4.88
$14.74
$11.50
$0.00
39%
34%
40%
22%
31%
0%
0%
0%
0%
0%
6.0
5.0
3.0
3.0
3.0
2,000
2,400
900
2
1
67%
35%
79%
42%
0%
Revision Date
6/13/2016
4/16/2016
7/7/2016
6/29/2016
6/29/2016
2/1/2015
3/10/2016
Age
Dec.31
1.8
4.2
1.4
1.6
1.6
1.9
0.8
0
0
0
0
0
5/10/2016
5/25/2009
6/14/2016
6/9/2016
6/7/2016
1,549
2,247
772
833
744
1,042
59
10
0
0
0
0
0
0
0
0
Trad
Low
High
Pfmn
Size
899
2,038
414
399
329
Eat
Ebb
Echo
Edge
Egg
Estar
Trad
Low
High
Pfmn
Size
Pfmn
Fast
Feat
Fist
Foam
Fume
Trad
Low
High
Pfmn
Trad
Name
Able
Acre
Adam
Aft
Agape
Acl
Abt
MTBF
19000
17000
25000
27000
21000
17000
19000
Pfmn
Coord
6.8
2.9
11.3
12.1
5.8
2.9
6.8
Size
Coord
13.5
17.4
9.0
14.5
8.2
17.4
13.5
1.8
7.6
1.5
1.7
1.7
17500
14000
25000
27000
21000
6.8
2.7
11.3
12.1
5.8
9/1/2015
1/26/2016
6/16/2016
7/21/2016
7/21/2016
6/1/2016
5/13/2016
3/7/2016
2.8
7.6
1.4
1.6
1.6
1.3
0.6
0.8
19000
17000
25000
27000
21000
17000
25000
19000
0
0
42
0
84
6/6/2015
1/15/2014
12/24/2015
6/29/2015
9/18/2015
3.0
7.6
2.2
2.7
2.6
1,317
1,252
371
80
488
413
0
0
0
0
19
0
9/16/2016
3/14/2016
12/14/2016
4/8/2015
8/14/2016
6/2/2016
1,510
1,448
708
1
69
0
0
0
0
0
6/4/2016
3/22/2015
7/7/2016
6/30/2011
5/25/2011
CAPSTONE COURIER
Round: 3
Dec. 31, 2016
C58866
Production Analysis
$6.43
$6.43
$8.57
$8.57
$0.00
Auto
mation
Next
Round
6.0
7.0
5.0
5.0
5.0
7.0
6.0
Capacity
Next
Round
1,900
1,700
900
700
700
301
255
Plant
Utiliz.
125%
162%
111%
130%
130%
134%
0%
Page 4
C58866
Round: 3
Dec. 31, 2016
Traditional Statistics
Total Industry Unit Demand
9,756
8,923
29.2%
9.9%
Importance
1. Age
47%
2. Price
$18.50 - 28.50
23%
3. Ideal Position
21%
4. Reliability
MTBF 14000-19000
9%
Cust.
Sold to Revision
Stock
Pfmn
Size
Date
Out
Coord
Coord
Name
Share
Seg
Able
25%
2,259
6/13/2016
YES
6.8
Cake
17%
1,545
9/1/2015
YES
6.8
Fast
17%
1,507
6/4/2016
YES
Baker
15%
1,374
5/10/2016
Eat
14%
1,281
Daze
10%
894
Fume
1%
Cookie
0%
CAPSTONE COURIER
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
13.5
$26.00
19000
1.78
$1,400
100%
$3,000
84%
83
13.5
$25.00
19000
2.85
$1,400
100%
$2,250
72%
56
6.8
13.5
$26.00
17000
1.80
$1,800
100%
$2,500
71%
66
YES
6.8
13.5
$23.00
17500
1.85
$1,800
93%
$1,800
58%
70
9/16/2016
YES
6.8
13.5
$26.00
17500
1.72
$1,500
86%
$1,500
43%
49
6/6/2015
YES
6.1
14.2
$27.00
17500
3.00
$2,500
100%
$2,500
70%
29
53
5/25/2011
YES
3.7
11.6
$31.00
19000
5.60
$0
14%
$0
71%
3/7/2016
YES
8.0
12.4
$25.00
19000
0.81
$1,500
61%
$2,250
72%
24
Page 5
C58866
Round: 3
Dec. 31, 2016
12,766
12,610
38.2%
12.2%
Importance
1. Price
$13.50 - 23.50
53%
2. Age
24%
3. Ideal Position
16%
4. Reliability
MTBF 12000-17000
7%
Cust.
Sold to Revision
Stock
Pfmn
Size
Date
Out
Coord
Coord
Name
Share
Seg
Acre
21%
2,658
4/16/2016
YES
2.9
Cedar
18%
2,247
1/26/2016
YES
2.7
Dell
16%
2,038
1/15/2014
YES
Bead
13%
1,589
5/25/2009
Feat
11%
1,448
Ebb
10%
1,252
Coffee
8%
Acl
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
17.4
$19.00
17000
4.15
$1,400
100%
$1,500
80%
44
17.6
$17.00
17000
7.60
$1,400
100%
$2,250
71%
74
2.7
17.6
$18.60
15000
7.60
$2,500
100%
$2,500
66%
48
YES
2.7
17.6
$17.49
14000
7.60
$1,200
78%
$1,300
53%
46
3/22/2015
YES
2.4
17.9
$18.00
14000
4.69
$1,800
98%
$2,000
62%
38
3/14/2016
YES
2.9
17.6
$19.50
14000
4.20
$1,500
85%
$2,000
59%
28
1,042
6/1/2016
YES
2.9
17.4
$17.00
17000
1.28
$3,000
100%
$2,250
71%
44
2%
291
2/1/2015
YES
2.9
17.4
$19.00
17000
1.91
$3,000
67%
$1,500
80%
28
Eat
0%
36
9/16/2016
YES
6.8
13.5
$26.00
17500
1.72
$1,500
86%
$1,500
59%
Daze
0%
6/6/2015
YES
6.1
14.2
$27.00
17500
3.00
$2,500
100%
$2,500
66%
Able
0%
6/13/2016
YES
6.8
13.5
$26.00
19000
1.78
$1,400
100%
$3,000
80%
Baker
0%
5/10/2016
YES
6.8
13.5
$23.00
17500
1.85
$1,800
93%
$1,800
53%
CAPSTONE COURIER
Page 6
C58866
Round: 3
Dec. 31, 2016
4,217
4,217
12.6%
14.4%
43%
29%
MTBF 20000-25000
19%
2. Age
3. Reliability
Importance
4. Price
$28.50 - 38.50
9%
Cust.
Sold to Revision
Stock
Pfmn
Size
Out
Coord
Coord
Name
Share
Seg
Date
Adam
23%
951
7/7/2016
11.3
Bid
18%
774
6/14/2016
YES
11.3
Cid
18%
772
6/16/2016
YES
Fist
17%
708
7/7/2016
YES
Dixie
10%
414
12/24/2015
Echo
9%
371
12/14/2016
YES
Estar
4%
162
6/2/2016
Cheese
1%
59
Cake
0%
Able
0%
CAPSTONE COURIER
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
9.0
$37.00
25000
1.41
$1,500
100%
$3,000
81%
79
9.0
$38.00
25000
1.47
$1,500
100%
$3,000
76%
70
11.3
9.0
$37.00
25000
1.45
$2,900
100%
$2,250
73%
73
11.3
9.0
$38.00
25000
1.46
$1,400
100%
$2,500
76%
67
10.4
9.9
$39.00
23000
2.22
$2,000
100%
$2,000
57%
24
11.7
9.0
$34.00
24448
1.27
$1,500
90%
$2,000
76%
67
YES
12.2
12.0
$36.50
26000
0.57
$2,000
70%
$2,500
76%
25
5/13/2016
YES
11.3
9.0
$38.00
25000
0.63
$1,500
61%
$2,250
73%
71
9/1/2015
YES
6.8
13.5
$25.00
19000
2.85
$1,400
100%
$2,250
73%
6/13/2016
YES
6.8
13.5
$26.00
19000
1.78
$1,400
100%
$3,000
81%
Page 7
C58866
Round: 3
Dec. 31, 2016
Performance Statistics
Total Industry Unit Demand
3,421
3,212
10.2%
20.3%
Importance
1. Reliability
MTBF 22000-27000
43%
2. Ideal Position
29%
3. Price
$23.50 - 33.50
19%
4. Age
9%
Cust.
Sold to Revision
Stock
Pfmn
Size
Name
Share
Seg
Date
Out
Coord
Coord
Aft
28%
914
6/29/2016
YES
12.1
Coat
26%
833
7/21/2016
YES
12.1
Bold
23%
735
6/9/2016
YES
Dot
12%
399
6/29/2015
Estar
8%
251
Edge
2%
80
CAPSTONE COURIER
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
14.5
$32.00
27000
1.64
$1,400
100%
$3,000
74%
81
14.5
$33.00
27000
1.63
$2,900
100%
$3,000
63%
73
12.1
14.5
$32.49
27000
1.67
$1,700
100%
$3,000
70%
73
YES
11.1
15.2
$34.00
27000
2.73
$1,500
83%
$1,500
38%
31
6/2/2016
YES
12.2
12.0
$36.50
26000
0.57
$2,000
70%
$2,500
33%
4/8/2015
YES
10.8
15.5
$32.00
28000
2.87
$0
60%
$0
33%
27
Page 8
C58866
Round: 3
Dec. 31, 2016
Size Statistics
Total Industry Unit Demand
3,264
3,264
9.8%
23.7%
43%
29%
MTBF 16000-21000
19%
2. Age
3. Reliability
Importance
4. Price
$23.50 - 33.50
9%
Cust.
Sold to Revision
Stock
Pfmn
Size
Name
Share
Seg
Date
Out
Coord
Coord
Agape
28%
914
6/29/2016
YES
5.8
Buddy
24%
774
6/7/2016
YES
5.8
Cure
23%
744
7/21/2016
YES
Egg
15%
488
8/14/2016
Dune
10%
329
9/18/2015
Fume
0%
16
5/25/2011
CAPSTONE COURIER
YES
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
8.2
$32.00
21000
1.62
$1,400
100%
$3,000
78%
100
8.2
$32.99
21000
1.65
$1,700
100%
$3,000
72%
91
5.8
8.2
$33.00
21000
1.62
$2,900
100%
$3,000
67%
94
5.8
8.2
$33.50
19000
1.59
$2,000
100%
$1,500
45%
60
5.1
9.2
$34.00
19000
2.65
$1,500
83%
$1,500
40%
18
3.7
11.6
$31.00
19000
5.60
$0
14%
$0
13%
Page 9
Market Share
C58866
Trad
8,923
27.7%
Low
12,610
39.1%
Able
Acre
Adam
Aft
Agape
Acl
Total
25.3%
Baker
Bead
Bid
Bold
Buddy
Total
15.4%
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Total
17.3%
Daze
Dell
Dixie
Dot
Dune
Total
10.0%
10.0%
16.2%
Eat
Ebb
Echo
Edge
Egg
Estar
Total
14.4%
0.3%
9.9%
Fast
Feat
Fist
Foam
Fume
Total
16.9%
High
4,217
13.1%
Pfmn
3,212
10.0%
Size
3,264
10.1%
20.7%
28.0%
Baker
Bead
Bid
Bold
Buddy
Total
17.0%
23.7%
23.7%
4.3%
4.9%
2.4%
2.3%
2.4%
16.3%
28.4%
28.0%
25.3%
22.6%
28.4%
12.6%
18.3%
22.9%
15.4%
12.6%
18.3%
22.9%
19.8%
25.9%
9.8%
12.4%
Eat
Ebb
Echo
Edge
Egg
Estar
Total
10.5%
0.2%
8.1%
4.7% Fast
4.5% Feat
2.2% Fist
Foam
0.2% Fume
11.6% Total
16.3%
2.5%
15.0%
14.4%
10.2%
7.8%
10.3%
15.0%
11.5%
16.8%
0.6%
17.5%
CAPSTONE COURIER
11.5%
16.8%
13.3%
4.1%
3.9%
1.1%
0.3%
1.5%
1.3%
12.2%
8.8%
3.8%
12.6%
17.0%
14.1%
12.4%
0.5%
0.5%
27.3%
25.0%
25.1%
5.0%
5.1%
2.1%
2.5%
2.4%
17.1%
24.2%
12.6%
9.8%
26.3%
17.0%
10.1%
10.1%
16.2%
18.8%
13.3%
12.6%
1.4%
26.1%
20.7%
17.0%
24.2%
24.1%
5.6%
8.2%
2.2%
2.4%
2.3%
4.4%
1.3%
1.1%
27.6%
9.6%
9.6%
3.7%
5.4%
1.1%
1.2%
0.9%
12.3%
21.6%
17.6%
23.5%
24.1%
11.4%
3.5%
22.6%
33.0%
10.4%
0.8%
28.9%
23.5%
14.0%
8.4%
11.9%
8.4%
11.9%
9.0%
11.0%
13.5%
10.5%
8.3%
3.3%
12.3%
11.0%
13.5%
14.5%
16.7%
3.1%
10.8%
14.5%
3.1%
3.2%
3.1%
1.1%
1.1%
1.3%
0.4%
10.2%
4.8%
4.1%
1.8%
0.4%
10.8%
0.3%
Total
33,425
100.0%
6.0%
5.0%
2.4%
2.7%
2.7%
2.8%
21.6%
27.3%
7.4%
20.5%
Daze
Dell
Dixie
Dot
Dune
Total
8.3%
Size
3,264
9.8%
26.3%
2.8%
6.3%
1.3%
1.2%
1.0%
12.7%
22.8%
Pfmn
3,421
10.2%
18.8%
22.8%
25.9%
High
4,217
12.6%
13.0%
19.0%
18.3%
4.8%
7.0%
2.4%
2.6%
2.3%
3.2%
0.2%
Low
12,766
38.2%
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
22.5% Total
17.8%
17.4%
Trad
9,756
29.2%
Able
Acre
Adam
Aft
Agape
Acl
Total
22.5%
2.3%
23.4%
21.1%
Round: 3
Dec. 31, 2016
0.5%
0.5%
11.2%
Page 10
Perceptual Map
C58866
Andrews
Name
Able
Acre
Adam
Aft
Agape
Acl
Abt
Pfmn
6.8
2.9
11.3
12.1
5.8
2.9
6.8
Name
Daze
Dell
Dixie
Dot
Dune
Pfmn
6.1
2.7
10.4
11.1
5.1
Size
13.5
17.4
9.0
14.5
8.2
17.4
13.5
Baldwin
Revised
6/13/2016
4/16/2016
7/7/2016
6/29/2016
6/29/2016
2/1/2015
3/10/2016
Name
Baker
Bead
Bid
Bold
Buddy
Pfmn
6.8
2.7
11.3
12.1
5.8
Revised
6/6/2015
1/15/2014
12/24/2015
6/29/2015
9/18/2015
Name
Eat
Ebb
Echo
Edge
Egg
Estar
Pfmn
6.8
2.9
11.7
10.8
5.8
12.2
Digby
CAPSTONE COURIER
Size
14.2
17.6
9.9
15.2
9.2
Size
13.5
17.6
9.0
14.5
8.2
Chester
Revised
5/10/2016
5/25/2009
6/14/2016
6/9/2016
6/7/2016
Name
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Pfmn
6.8
2.7
11.3
12.1
5.8
2.9
11.3
8.0
Name
Fast
Feat
Fist
Foam
Fume
Pfmn
6.8
2.4
11.3
9.1
3.7
Erie
Size
13.5
17.6
9.0
15.5
8.2
12.0
Round: 3
Dec. 31, 2016
Size
13.5
17.6
9.0
14.5
8.2
17.4
9.0
12.4
Revised
9/1/2015
1/26/2016
6/16/2016
7/21/2016
7/21/2016
6/1/2016
5/13/2016
3/7/2016
Ferris
Revised
9/16/2016
3/14/2016
12/14/2016
4/8/2015
8/14/2016
6/2/2016
Size
13.5
17.9
9.0
16.1
11.6
Revised
6/4/2016
3/22/2015
7/7/2016
6/30/2011
5/25/2011
Page 11
HR/TQM Report
C58866
Round: 3
Dec. 31, 2016
Andrews
1,034
1,034
650
384
Baldwin
859
859
714
145
Chester
720
720
616
104
Digby
562
562
558
4
Erie
534
534
500
34
Ferris
468
468
468
0
Overtime Percent
Turnover Rate
New Employees
Separated Employees
Recruiting Spend
Training Hours
Productivity Index
0.0%
9.5%
271
0
$5,000
80
102.6%
0.0%
15.6%
187
0
$0
0
100.0%
0.0%
6.5%
47
175
$5,000
80
113.7%
0.0%
16.0%
90
49
$1,000
60
102.8%
0.0%
12.5%
132
0
$0
0
100.0%
0.0%
13.5%
63
24
$1,000
15
100.0%
Recruiting Cost
Separation Cost
Training Cost
Total HR Admin Cost
$1,628
$0
$1,654
$3,283
$187
$0
$0
$187
$281
$875
$1,152
$2,308
$180
$245
$674
$1,100
$132
$0
$0
$132
$127
$120
$140
$387
$33.36
3,675
2.8%
6.8%
$31.37
3,388
2.7%
6.8%
$34.72
3,750
3.0%
7.5%
$29.49
3,250
2.6%
6.5%
$34.41
3,388
2.7%
6.8%
$32.82
3,388
2.7%
6.8%
$29.09
3,273
2.3%
5.5%
$25.46
2,750
2.2%
5.5%
$34.72
3,750
3.0%
7.5%
$22.05
2,500
2.0%
5.0%
$31.00
2,750
2.2%
5.5%
$28.10
2,750
2.2%
5.5%
$32.00
3,600
2.5%
6.1%
$28.01
3,025
2.4%
6.1%
$38.20
4,125
3.3%
8.2%
$24.26
2,750
2.2%
5.5%
$34.10
3,025
2.4%
6.1%
$30.91
3,025
2.4%
6.1%
$34.72
3,750
3.0%
7.5%
$34.72
3,750
3.0%
7.5%
$34.72
3,750
3.0%
7.5%
$34.72
3,750
3.0%
7.5%
$34.72
3,750
3.0%
7.5%
$34.72
3,750
3.0%
7.5%
36
78
84
35
58
Strike Days
TQM SUMMARY
Andrews
Baldwin
Chester
Digby
Erie
Ferris
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$0
$0
$0
$0
$0
$0
$1,000
$1,000
$1,000
$1,000
$1,000
$1,000
$0
$0
$0
$0
$0
$0
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$1,500
$0
$1,500
$1,000
$1,000
$1,000
$1,000
$10,000
$0
$0
$0
$0
$0
$1,000
$1,000
$1,000
$1,000
$10,000
$0
$0
$0
$0
$0
$1,500
$1,500
$1,500
$1,500
$15,000
$0
$0
$0
$1,500
$9,000
Cumulative Impacts
Material Cost Reduction
Labor Cost Reduction
Reduction R&D Cycle Time
Reduction Admin Costs
Demand Increase
11.80%
14.00%
40.01%
60.02%
14.40%
11.42%
13.64%
36.85%
56.48%
14.11%
11.80%
14.00%
40.01%
60.02%
14.40%
2.74%
8.14%
29.78%
0.00%
6.23%
7.09%
6.21%
40.01%
43.11%
14.40%
11.73%
13.81%
29.25%
55.78%
13.69%
CAPSTONE COURIER
Page 12
Annual Report
Annual Report
Andrews
C58866
Round: 3
Dec. 31, 2016
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
$52,355
2016
Common
Size
9.4%
19.9%
1.0%
30.4%
$12,606
$28,773
$1,117
$42,496
$120,147
$172,502
112.0%
-41.9%
69.6%
100.0%
$176,968
($59,505)
$117,463
$159,958
$117,865
12.6%
1.7%
54.0%
68.3%
$17,907
$13,950
$79,114
$110,971
$54,638
$172,502
21.4%
10.2%
31.7%
100.0%
$36,992
$11,996
$48,988
$159,958
$16,292
$34,273
$1,790
$192,484
($72,337)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$21,751
$3,000
$93,114
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$36,992
$17,646
2015
2016
2015
$5,650
($5,127)
$12,832
$11,798
$0
$0
Accounts Payable
$3,844
$2,625
Inventory
($673)
$3,707
Accounts Receivable
($5,500)
($5,940)
$16,152
$7,063
($15,516)
($30,368)
NetIncome(Loss)
Depreciation
Extraordinary gains/losses/writeoffs
$0
$0
$0
$4,804
Annual Report
$0
$0
$14,000
$25,564
$0
($6,950)
($10,950)
$12,493
$3,050
$35,911
$3,686
$12,606
$16,292
$12,606
Page 14
Annual Report
Andrews
Round: 3
Dec. 31, 2016
C58866
$0
2016
Total
$208,493
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$53,561
$78,082
$215
$131,858
25.7%
37.5%
0.1%
63.2%
$2,124
$0
$0
$76,636
36.8%
$1,213
$501
$1,400
$3,000
$542
$6,656
$682
$0
$3,000
$1,500
$102
$5,285
$510
$193
$0
$0
$0
$703
$0
$1,000
$0
$0
$0
$1,000
$12,832
$3,470
$10,100
$15,000
$3,866
$45,269
6.2%
1.7%
4.8%
7.2%
1.9%
21.7%
$4,038
($3,161)
($703)
($1,000)
$31,367
15.0%
$10,700
$20,667
$357
$11,440
$3,104
$115
$5,650
5.1%
9.9%
0.2%
5.5%
1.5%
0.1%
2.7%
Able
Acre
Adam
Aft
Agape
Acl
Abt
Adh
Sales
$58,839
$50,493
$35,173
$29,233
$29,233
$5,523
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$15,003
$21,872
$0
$36,875
$14,973
$16,601
$0
$31,574
$7,308
$13,960
$215
$21,482
$7,354
$12,636
$0
$19,989
$7,354
$11,185
$0
$18,539
$1,570
$1,829
$0
$3,399
Contribution Margin
$21,964
$18,920
$13,691
$9,244
$10,694
$3,800
$457
$1,400
$3,000
$1,091
$9,748
$3,853
$296
$1,400
$1,500
$936
$7,986
$1,560
$523
$1,500
$3,000
$652
$7,235
$1,213
$501
$1,400
$3,000
$542
$6,656
$12,216
$10,934
$6,455
$2,588
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
Net Margin
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 15
Annual Report
Annual Report
Baldwin
C58866
Round: 3
Dec. 31, 2016
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
$37,976
2016
Common
Size
23.1%
12.4%
0.0%
35.5%
$14,335
$10,915
$6,191
$31,441
$68,971
$106,948
123.0%
-58.1%
64.5%
100.0%
$128,990
($54,479)
$74,511
$105,952
$61,936
7.8%
0.0%
50.1%
57.9%
$9,111
$0
$56,638
$65,749
$45,011
$106,948
30.0%
12.1%
42.1%
100.0%
$32,188
$8,015
$40,203
$105,952
$24,719
$13,257
$0
$131,160
($62,189)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$8,344
$0
$53,592
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$32,092
$12,919
2015
2016
2015
NetIncome(Loss)
$4,928
($6,011)
Depreciation
$8,744
$8,599
Extraordinary gains/losses/writeoffs
($269)
($106)
Accounts Payable
($767)
$2,996
Inventory
$6,191
($4,648)
Accounts Receivable
($2,342)
($2,682)
$16,486
($1,852)
($2,982)
($9,790)
Dividends Paid
$0
$0
$0
$0
Annual Report
($120)
$0
$0
$3,000
($3,000)
($6,950)
$0
$0
($3,120)
($3,950)
$10,384
($15,592)
$24,719
$14,335
Page 16
Annual Report
Baldwin
Round: 3
Dec. 31, 2016
C58866
$0
2016
Total
$138,255
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$40,368
$52,843
$0
$93,210
29.2%
38.2%
0.0%
67.4%
$0
$0
$0
$45,045
32.6%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$8,744
$1,710
$7,900
$12,100
$608
$31,062
6.3%
1.2%
5.7%
8.8%
0.4%
22.5%
$0
$0
$0
$13,983
10.1%
($222)
$14,205
$0
$6,468
$2,708
$101
$4,928
-0.2%
10.3%
0.0%
4.7%
2.0%
0.1%
3.6%
Baker
Bead
Bid
Bold
Buddy
NA
NA
NA
Sales
$31,667
$27,788
$29,399
$23,879
$25,523
$0
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$10,006
$12,923
$0
$22,929
$10,883
$8,658
$0
$19,541
$6,316
$11,458
$0
$17,774
$6,262
$10,249
$0
$16,511
$6,901
$9,555
$0
$16,455
$0
$0
$0
$0
Contribution Margin
$8,738
$8,246
$11,624
$7,368
$9,067
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$2,629
$363
$1,800
$1,800
$139
$6,732
$2,539
$0
$1,200
$1,300
$122
$5,161
$1,272
$461
$1,500
$3,000
$129
$6,362
$1,173
$446
$1,700
$3,000
$105
$6,424
$1,131
$440
$1,700
$3,000
$112
$6,383
Net Margin
$2,006
$3,085
$5,262
$945
$2,685
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 17
Annual Report
Annual Report
Chester
C58866
Round: 3
Dec. 31, 2016
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
$56,634
2016
Common
Size
7.3%
25.1%
0.0%
32.4%
$0
$36,207
$10,320
$46,527
$118,139
$174,772
108.0%
-39.9%
67.6%
100.0%
$173,740
($57,272)
$116,468
$162,995
$143,595
4.7%
24.2%
53.3%
82.2%
$8,381
$34,701
$79,510
$122,592
$31,177
$174,772
20.1%
-2.3%
17.8%
100.0%
$35,205
$5,198
$40,403
$162,995
$12,815
$43,819
$0
$187,940
($69,801)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$8,158
$42,263
$93,174
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$35,205
($4,028)
2015
2016
2015
NetIncome(Loss)
($9,226)
($9,025)
Depreciation
$12,529
$11,459
$0
$0
Extraordinary gains/losses/writeoffs
Accounts Payable
($223)
$1,952
Inventory
$10,320
($9,316)
Accounts Receivable
($7,612)
($5,038)
$5,789
($9,969)
($14,200)
($28,540)
$0
$0
$0
$3,018
$0
$25,766
$0
($6,950)
$7,562
$14,359
$21,226
$36,193
$12,815
($2,316)
$12,815
$0
Annual Report
$0
$13,664
Page 18
Annual Report
Chester
Round: 3
Dec. 31, 2016
C58866
$248
2016
Total
$177,709
Common
Size
100.0%
$410
$887
$0
$1,297
$53
$106
$0
$159
$41,880
$67,698
$0
$109,579
23.6%
38.1%
0.0%
61.7%
$5,535
$961
$88
$68,130
38.3%
$720
$564
$2,900
$3,000
$387
$7,571
$2,040
$425
$3,000
$2,250
$279
$7,994
$104
$372
$1,500
$2,250
$36
$4,262
$25
$186
$1,500
$2,250
$4
$3,965
$12,529
$2,647
$17,500
$19,500
$2,805
$54,981
7.1%
1.5%
9.8%
11.0%
1.6%
30.9%
$1,550
($2,459)
($3,301)
($3,877)
$13,149
7.4%
$10,683
$2,466
$5,114
$11,546
($4,968)
$0
($9,226)
6.0%
1.4%
2.9%
6.5%
-2.8%
0.0%
-5.2%
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Sales
$38,717
$38,193
$28,567
$27,482
$24,539
$17,706
$2,258
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$7,591
$15,322
$0
$22,913
$7,778
$13,728
$0
$21,505
$6,319
$11,390
$0
$17,709
$6,909
$11,497
$0
$18,407
$6,364
$9,054
$0
$15,418
$6,457
$5,713
$0
$12,170
Contribution Margin
$15,804
$16,688
$10,857
$9,076
$9,121
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$4,533
$0
$1,400
$2,250
$611
$8,794
$3,547
$72
$1,400
$2,250
$603
$7,872
$840
$464
$2,900
$2,250
$451
$6,905
$720
$564
$2,900
$3,000
$434
$7,618
Net Margin
$7,010
$8,817
$3,952
$1,458
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 19
Annual Report
Annual Report
Digby
C58866
Round: 3
Dec. 31, 2016
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
$11,279
2016
Common
Size
0.0%
8.4%
2.8%
11.2%
$0
$8,391
$14,147
$22,538
$89,000
$100,279
156.0%
-67.6%
88.8%
100.0%
$156,800
($57,347)
$99,453
$121,991
$74,012
4.4%
4.9%
64.6%
73.8%
$6,010
$23,101
$64,750
$93,861
$26,267
$100,279
18.3%
7.9%
26.2%
100.0%
$18,360
$9,770
$28,130
$121,991
$0
$8,470
$2,809
$156,800
($67,800)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$4,373
$4,889
$64,750
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$18,360
$7,907
2015
2016
2015
NetIncome(Loss)
($1,863)
($15,880)
Depreciation
$10,453
$10,453
$0
$0
Extraordinary gains/losses/writeoffs
Accounts Payable
($1,637)
($130)
Inventory
$11,338
($6,159)
($79)
$117
$18,211
($11,597)
$0
($22,400)
Dividends Paid
$0
$0
$0
$0
$0
$0
$0
$20,000
Accounts Receivable
Net cash from operation
Cash Flows from Investing Activities
Plant Improvements
Cash Flows from Financing Activities
Annual Report
$0
($6,950)
($18,211)
$18,101
($18,211)
$31,151
$0
($2,846)
$0
$0
Page 20
Annual Report
Digby
Round: 3
Dec. 31, 2016
C58866
$0
2016
Total
$103,056
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$26,279
$38,264
$337
$64,880
25.5%
37.1%
0.3%
63.0%
$0
$0
$0
$38,176
37.0%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$10,453
$0
$10,000
$10,000
$1,821
$32,274
10.1%
0.0%
9.7%
9.7%
1.8%
31.3%
$0
$0
$0
$5,901
5.7%
$0
$5,901
$850
$7,918
($1,003)
$0
($1,863)
0.0%
5.7%
0.8%
7.7%
-1.0%
0.0%
-1.8%
Daze
Dell
Dixie
Dot
Dune
NA
NA
NA
Sales
$24,267
$37,902
$16,127
$13,565
$11,196
$0
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$5,930
$8,925
$0
$14,855
$10,543
$12,839
$0
$23,382
$3,429
$6,294
$120
$9,843
$3,495
$6,024
$0
$9,519
$2,883
$4,182
$217
$7,282
$0
$0
$0
$0
Contribution Margin
$9,411
$14,520
$6,284
$4,046
$3,914
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$3,120
$0
$2,500
$2,500
$429
$8,549
$4,693
$0
$2,500
$2,500
$670
$10,363
$1,200
$0
$2,000
$2,000
$285
$5,485
$720
$0
$1,500
$1,500
$240
$3,960
$720
$0
$1,500
$1,500
$198
$3,918
$863
$4,157
$799
$87
($4)
Net Margin
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 21
Annual Report
Annual Report
Erie
C58866
Round: 3
Dec. 31, 2016
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
$18,577
2016
Common
Size
9.1%
8.3%
0.4%
17.8%
$594
$8,841
$8,587
$18,022
$85,911
$104,488
136.0%
-54.0%
82.2%
100.0%
$148,800
($52,933)
$95,867
$113,889
$64,664
4.6%
0.0%
57.3%
61.9%
$4,715
$6,950
$54,250
$65,915
$39,825
$104,488
32.4%
5.7%
38.1%
100.0%
$31,460
$16,514
$47,974
$113,889
$9,536
$8,652
$389
$142,342
($56,431)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$4,814
$0
$59,850
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$33,824
$6,001
2015
2016
2015
($10,514)
($7,367)
$9,489
$9,187
$824
$7
$99
($2,954)
$8,199
$15,058
$189
$389
$8,286
$14,320
($358)
($14,220)
$0
$5,600
$0
$0
$5,600
$13,000
$0
($6,950)
($6,950)
($11,155)
$1,014
$495
$8,942
$594
$9,536
$594
Annual Report
$0
$2,364
Page 22
Annual Report
Erie
Round: 3
Dec. 31, 2016
C58866
$0
2016
Total
$105,267
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$28,289
$38,480
$47
$66,815
26.9%
36.6%
0.0%
63.5%
$4,388
$0
$0
$38,452
36.5%
$1,100
$631
$2,000
$1,500
$86
$5,316
$1,600
$425
$2,000
$2,500
$79
$6,604
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$9,489
$2,948
$8,500
$9,500
$551
$30,989
9.0%
2.8%
8.1%
9.0%
0.5%
29.4%
$930
($2,216)
$0
$0
Eat
Ebb
Echo
Edge
Egg
Estar
NA
NA
Sales
$34,248
$24,411
$12,628
$2,558
$16,356
$15,067
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$9,188
$12,243
$0
$21,430
$7,262
$7,127
$0
$14,389
$2,779
$5,450
$0
$8,228
$696
$1,284
$0
$1,980
$4,004
$6,058
$47
$10,109
$4,360
$6,319
$0
$10,679
Contribution Margin
$12,818
$10,022
$4,400
$578
$6,246
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$2,427
$720
$1,500
$1,500
$179
$6,326
$2,800
$204
$1,500
$2,000
$128
$6,632
$1,560
$968
$1,500
$2,000
$66
$6,094
$3
$0
$0
$0
$13
$16
Net Margin
$6,491
$3,390
($1,694)
$562
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
$7,463
7.1%
$16,222
($8,759)
$0
$7,417
($5,661)
$0
($10,514)
15.4%
-8.3%
0.0%
7.0%
-5.4%
0.0%
-10.0%
Page 23
Annual Report
Annual Report
Ferris
C58866
Round: 3
Dec. 31, 2016
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
$36,203
2016
Common
Size
24.2%
6.6%
0.0%
30.8%
$24,531
$7,727
$11,960
$44,218
$81,239
$117,442
118.0%
-48.9%
69.2%
100.0%
$131,518
($48,575)
$82,943
$127,161
$70,591
3.3%
0.0%
56.8%
60.1%
$4,408
$6,950
$66,750
$78,108
$46,851
$117,442
32.4%
7.5%
39.9%
100.0%
$37,473
$11,580
$49,053
$127,161
$28,444
$7,759
$0
$138,654
($57,415)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$3,841
$0
$66,750
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$38,049
$8,802
2015
2016
2015
($2,778)
($9,480)
Depreciation
$9,244
$8,768
Extraordinary gains/losses/writeoffs
($101)
($494)
NetIncome(Loss)
Accounts Payable
Inventory
Accounts Receivable
Net cash from operation
($567)
($1,740)
$11,960
$6,760
($32)
$22
$17,726
$3,835
($7,438)
$6,423
$0
$5,285
$0
$0
$0
$25,000
$0
($6,950)
($6,950)
($9,063)
($6,374)
$14,272
$3,914
$24,531
$28,444
$24,531
Annual Report
$0
$576
Page 24
Annual Report
Ferris
Round: 3
Dec. 31, 2016
C58866
$0
2016
Total
$94,400
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$25,658
$33,039
$0
$58,696
27.2%
35.0%
0.0%
62.2%
$0
$0
$0
$35,703
37.8%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$9,244
$955
$5,000
$7,000
$679
$22,878
9.8%
1.0%
5.3%
7.4%
0.7%
24.2%
$0
$0
$0
$12,826
13.6%
$8,928
$3,898
$0
$8,172
($1,496)
$0
($2,778)
9.5%
4.1%
0.0%
8.7%
-1.6%
0.0%
-2.9%
Fast
Feat
Fist
Foam
Fume
NA
NA
NA
Sales
$39,256
$26,062
$26,919
$22
$2,140
$0
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$9,738
$14,053
$0
$23,790
$9,260
$7,905
$0
$17,165
$6,070
$10,186
$0
$16,255
$7
$10
$0
$17
$583
$885
$0
$1,469
$0
$0
$0
$0
Contribution Margin
$15,466
$8,897
$10,664
$5
$672
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$4,000
$432
$1,800
$2,500
$283
$9,015
$4,160
$0
$1,800
$2,000
$188
$8,148
$1,080
$523
$1,400
$2,500
$194
$5,697
$2
$0
$0
$0
$0
$3
$1
$0
$0
$0
$15
$17
Net Margin
$6,451
$749
$4,967
$2
$655
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 25
Baldwin
Andrews
6.00
Chester
Baldwin
5.10
Chester
3.00
Digby
Digby
2.55
Erie
Erie
2.65
Ferris
Ferris
2.40