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
Shuyi Sun
Yudi Sun
ZHAO YING
Rui Zhang
JIREN ZHOU
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
CAPSTONE COURIER
Andrews
2.2%
1.35
2.9%
Baldwin
4.9%
1.25
6.2%
Chester
-0.1%
1.08
-0.1%
Digby
-0.1%
1.58
-0.2%
Erie
3.2%
1.55
5.0%
Ferris
6.8%
1.05
7.2%
2.8
1.8
5.4
9.0
2.5
1.2
8.3%
$0
$269,284,560
$22,077,378
$5,833,293
($9,145,391)
13.2%
27.9%
10.9%
$0
$157,181,969
$17,879,930
$7,779,710
($7,083,667)
11.8%
23.7%
-0.6%
$0
$147,160,073
$13,122,200
($156,029)
($35,245,243)
15.3%
30.2%
-1.8%
$0
$158,457,208
$9,703,636
($201,672)
($32,651,316)
10.2%
22.8%
12.4%
$0
$117,153,191
$10,895,114
$3,805,160
($28,984,335)
19.6%
24.9%
8.6%
$0
$75,475,219
$9,096,760
$5,152,963
($13,328,491)
14.6%
30.4%
Page 1
Round: 5
Dec. 31, 2018
C58866
Stock Market Summary
Company
Andrews
Baldwin
Chester
Digby
Erie
Ferris
Close
Change
Shares
$18.45
$27.10
$4.90
$5.44
$2.61
$14.36
$7.00
$6.32
$3.90
$4.44
$1.61
$5.73
3,892,299
3,283,106
2,735,968
2,000,000
3,636,423
4,958,420
MarketCap
($M)
$72
$89
$13
$11
$9
$71
Book Value
EPS
Dividend
Yield
P/E
$18.10
$21.75
$9.21
$5.55
$8.44
$12.15
$1.50
$2.37
($0.06)
($0.10)
$1.05
$1.04
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
0.0%
0.0%
0.0%
0.0%
0.0%
0.0%
12.3
11.4
-87.5
-54.4
2.5
13.8
Series#
Face
Yield
Close$
13.4S2019
10.7S2024
12.2S2025
13.3S2026
14.2S2028
$20,850,000
$18,800,000
$25,564,000
$14,000,000
$21,537,000
13.5%
12.5%
13.5%
14.1%
14.4%
99.04
85.42
90.29
94.53
98.47
10.7S2024
12.1S2025
13.0S2027
13.4S2028
$7,656,466
$3,000,000
$12,436,000
$20,747,000
11.5%
12.3%
12.6%
12.7%
93.09
98.65
103.15
105.56
13.4S2019
10.7S2024
12.5S2025
13.5S2026
14.1S2027
14.7S2028
$20,850,000
$18,994,000
$25,766,000
$13,664,000
$15,236,000
$2,273,000
13.6%
12.8%
14.0%
14.5%
14.8%
15.0%
98.52
83.39
89.22
92.84
95.25
98.00
S&P Company
Digby
C
C
C
C
C Erie
Baldwin
BB
BB
BB
BB Ferris
Chester
Series#
Face
Yield
Close$
S&P
13.4S2019
10.7S2024
12.0S2025
13.5S2026
$20,850,000
$10,000,000
$20,000,000
$13,000,000
13.6%
12.9%
13.8%
14.6%
98.44
83.06
86.77
92.42
DDD
DDD
DDD
DDD
13.4S2019
10.7S2024
12.1S2025
12.5S2026
$14,254,295
$6,500,000
$13,000,000
$5,600,000
13.5%
12.3%
13.2%
13.5%
99.39
86.81
91.45
92.60
CC
CC
CC
CC
11.9S2025
$7,975,951
11.1%
107.21
AAA
DDD
DDD
DDD
DDD
DDD
DDD
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: 5
Dec. 31, 2018
Andrews
Baldwin
Chester
Digby
Erie
Ferris
$5,833
$7,780
($156)
($202)
$3,805
$5,153
$16,126
$0
$8,706
($10,020)
$13,246
($4,491)
$10,333
$0
$5,995
($10,813)
$6,339
($4,482)
($1,157)
$18,753
($9,849)
$29,706
($2,790)
$8,982
$1,104
$13,760
($8,740)
$27,744
$34,963
$62,566
$1,897
$0
$3,689
$15,717
($4,278)
$19,398
$1,295
$15,402
($2,683)
$6,025
$2,178
$12,530
($29,445)
($468)
($2,623)
$0
$34,041
$31,099
$0
$5,000
$0
$21,537
$0
($17,694)
$0
$0
$0
$11,371
$0
$20,747
($30,747)
$0
$0
$0
$0
$0
$0
$2,273
$0
($67,053)
$7,430
$0
$0
$0
$0
$0
$0
($15,900)
$15,000
$0
$0
$606
$0
$0
($6,477)
($31,127)
$0
$0
$0
$7,000
$0
$0
($40,000)
$0
$0
$0
$8,843
$1,371
($57,350)
($900)
($36,998)
($33,000)
$9,104
Andrews
$9,104
$44,266
$7,268
$60,638
$14,664
Baldwin
$38,094
$15,072
$423
$53,589
$2,592
Chester
$2,592
$18,143
$0
$20,735
$14,817
Digby
$17,804
$13,024
$0
$30,828
$12,444
Erie
$12,444
$9,629
$6,486
$28,559
$10,629
Ferris
$15,013
$6,203
$0
$21,216
$241,884
($102,625)
$139,259
$130,588
($58,273)
$72,315
$198,686
($83,839)
$114,847
$155,000
($85,827)
$69,173
$89,930
($42,879)
$47,051
$95,086
($44,237)
$50,849
Total Assets
$199,897
$125,904
$135,583
$100,002
$75,610
$72,065
Account Payable
CurrentDebt
Long Term Debt
Total Liabilities
$28,702
$0
$100,751
$129,453
$10,641
$0
$43,839
$54,481
$6,159
$7,430
$96,783
$110,372
$10,050
$15,000
$63,850
$88,900
$5,577
$0
$39,354
$44,931
$3,823
$0
$7,976
$11,799
$54,196
$16,248
$70,444
$53,137
$18,286
$71,423
$35,043
($9,833)
$25,210
$18,360
($7,258)
$11,102
$34,295
($3,615)
$30,679
$48,201
$12,065
$60,266
$199,897
$125,904
$135,583
$100,002
$75,610
$72,065
Andrews
$269,285
$194,230
$16,126
$35,525
$1,327
$22,077
$12,845
$3,231
$168
$5,833
Baldwin
$157,182
$120,005
$8,706
$18,540
($7,949)
$17,880
$5,579
$4,305
$216
$7,780
Chester
$147,160
$102,677
$13,246
$22,493
($4,377)
$13,122
$13,362
($84)
$0
($156)
Digby
$158,457
$122,269
$10,333
$16,149
$2
$9,704
$10,014
($109)
$0
($202)
Erie
$117,153
$88,025
$5,995
$22,923
($10,685)
$10,895
$4,879
$2,106
$106
$3,805
Ferris
$75,475
$52,540
$6,339
$11,021
($3,522)
$9,097
$949
$2,852
$143
$5,153
Common Stock
Retained Earnings
Total Equity
CAPSTONE COURIER
Page 3
Name
Able
Acre
Adam
Aft
Agape
Acl
Abt
Adh
Primary
Segment
Low
Low
High
Pfmn
Size
Low
Trad
High
Units
Sold
2,993
3,579
1,052
1,244
1,244
447
358
89
Unit
Inven
tory
0
0
302
0
0
0
0
0
Baker
Bead
Bid
Bold
Buddy
Trad
Low
High
Pfmn
Size
1,287
49
1,009
1,281
1,455
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Trad
Low
High
Price
$24.00
$17.00
$36.50
$31.50
$31.50
$17.50
$24.50
$36.50
Material Labor
Cost
Cost
$9.20 $8.03
$5.72 $5.15
$14.21
$9.60
$13.53 $12.00
$11.94 $12.00
$5.86 $6.34
$9.30 $9.42
$14.21 $13.58
Contr.
Marg.
29%
32%
32%
19%
24%
30%
26%
23%
2nd
Shift
&
Overtime
47%
88%
33%
98%
98%
65%
53%
39%
12.1
16.4
7.2
13.1
6.2
$23.50
$16.00
$37.00
$32.40
$32.50
$9.34 $9.84
$0.00 $0.00
$14.28 $11.02
$13.59 $12.35
$11.99 $12.54
18%
10%
31%
20%
25%
0%
0%
22%
100%
100%
4.7
5.4
5.0
5.0
5.0
1,700 76%
1
0%
900 93%
1,300 151%
1,200 151%
8.2
3.9
13.1
13.1
6.5
3.9
13.1
8.0
12.1
16.4
7.2
13.8
7.2
16.4
7.2
12.4
$24.50
$17.50
$36.50
$32.50
$32.00
$17.50
$36.50
$24.50
$9.30 $6.22
$5.86 $5.76
$14.21 $12.43
$0.00 $0.00
$0.00 $0.00
$5.86 $7.68
$14.21
$9.32
$9.13 $4.66
37%
32%
24%
0%
0%
22%
35%
42%
0%
100%
0%
0%
0%
100%
0%
0%
7.0
8.0
5.0
3.0
3.0
7.0
5.0
8.0
2,000 45%
1,400 152%
700 28%
1
0%
1
0%
1,320 152%
370 76%
125 76%
19000
17000
25000
27000
21000
8.2
3.4
13.1
14.1
7.2
12.1
16.9
7.2
13.1
6.2
$24.00
$17.50
$36.99
$32.00
$32.00
$9.67 $9.02
$5.73 $7.39
$14.78 $11.55
$14.06 $13.79
$12.41 $12.32
22%
24%
29%
13%
23%
16%
16%
0%
33%
0%
5.5
6.5
3.5
3.0
3.0
1,800 114%
2,200 114%
900 98%
450 131%
450 97%
1.6
2.3
1.4
1.5
1.2
19000
17000
24500
20000
26000
8.2
3.6
13.7
7.5
14.6
12.1
16.7
6.6
5.8
11.3
$24.50
$16.00
$35.50
$31.49
$34.00
$9.32 $10.10
$0.00 $0.00
$14.51 $10.10
$11.93 $11.79
$13.88
$8.42
20%
9%
28%
25%
34%
0%
0%
0%
0%
0%
5.0
6.0
5.0
4.0
6.0
1,000
1
900
750
800
88%
0%
88%
88%
88%
1.6
4.1
1.5
7.5
7.6
17000
14000
25000
25000
19000
8.2
3.2
13.2
9.1
3.7
12.1
17.3
7.2
16.1
11.6
$25.00
$17.00
$37.00
$26.00
$31.00
$8.78 $8.01
$4.52 $7.21
$14.26 $12.82
$0.00 $0.00
$0.00 $0.00
33%
19%
27%
0%
0%
0%
0%
0%
0%
0%
7.0
6.5
6.0
3.0
3.0
2,000
1
900
2
1
79%
94%
82%
0%
0%
Revision Date
10/31/2018
6/22/2018
8/1/2018
6/30/2018
6/30/2018
6/26/2018
11/14/2018
7/8/2017
Age
Dec.31
2.0
2.2
1.4
1.5
1.5
1.6
1.5
1.5
MTBF
19000
17000
25000
27000
21000
17000
19000
25000
Pfmn
Coord
8.0
3.7
13.1
14.1
7.2
3.9
8.2
13.1
Size
Coord
12.2
16.6
7.2
13.1
6.2
16.4
12.1
7.2
0
0
17
0
0
5/17/2018
9/15/2017
6/24/2018
6/18/2018
6/16/2018
1.7
5.4
1.5
1.6
1.6
19000
14000
25000
27000
21000
8.2
3.9
13.1
14.1
7.2
Low
High
Trad
1,667
2,147
746
0
0
1,706
281
57
0
0
0
0
0
0
0
0
7/1/2018
12/5/2017
6/1/2018
6/9/2017
6/9/2017
5/26/2018
6/22/2018
3/7/2016
1.8
5.3
1.5
2.6
2.6
1.5
1.3
2.8
19000
17000
25000
27000
21000
17000
25000
19000
Daze
Dell
Dixie
Dot
Dune
Trad
Low
High
Pfmn
Size
2,045
2,507
883
589
438
0
0
0
0
0
5/23/2018
5/13/2017
6/5/2018
5/25/2018
5/25/2018
1.6
3.9
1.5
1.6
1.6
Eat
Ebb
Echo
Egg
Estar
Trad
Low
High
Size
Pfmn
1,311
674
728
752
727
0
0
266
0
0
5/18/2018
4/22/2018
7/18/2018
6/7/2018
7/9/2018
Fast
Feat
Fist
Foam
Fume
Trad
Low
High
1,753
10
851
0
0
0
0
0
0
0
6/23/2018
6/5/2017
6/28/2018
6/30/2011
5/25/2011
CAPSTONE COURIER
Round: 5
Dec. 31, 2018
C58866
Production Analysis
Auto
mation
Next
Round
7.0
9.5
6.0
5.0
5.0
8.0
6.0
5.0
Capacity
Next
Round
1,900
1,700
900
850
850
443
395
100
Plant
Utiliz.
132%
168%
119%
178%
178%
148%
137%
124%
Page 4
C58866
Round: 5
Dec. 31, 2018
Traditional Statistics
Total Industry Unit Demand
11,913
9,929
27.5%
8.4%
Importance
1. Age
47%
2. Price
$17.50 - 27.50
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
Daze
21%
2,045
5/23/2018
YES
8.2
Fast
18%
1,753
6/23/2018
YES
8.2
Cake
17%
1,667
7/1/2018
YES
Able
15%
1,465
10/31/2018
Eat
13%
1,311
Baker
13%
1,287
Abt
3%
Cookie
1%
CAPSTONE COURIER
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
12.1
$24.00
19000
1.64
$1,400
100%
$3,000
85%
79
12.1
$25.00
17000
1.58
$1,400
100%
$2,500
78%
63
8.2
12.1
$24.50
19000
1.83
$1,400
100%
$2,250
85%
82
YES
8.0
12.2
$24.00
19000
1.97
$1,400
100%
$3,000
91%
93
5/18/2018
YES
8.2
12.1
$24.50
19000
1.64
$2,000
98%
$3,000
69%
69
5/17/2018
YES
8.2
12.1
$23.50
19000
1.67
$800
82%
$1,400
55%
59
343
11/14/2018
YES
8.2
12.1
$24.50
19000
1.46
$2,000
90%
$100
91%
64
57
3/7/2016
YES
8.0
12.4
$24.50
19000
2.81
$500
38%
$750
85%
37
Page 5
C58866
Round: 5
Dec. 31, 2018
15,970
12,663
36.8%
13.5%
Importance
1. Price
$12.50 - 22.50
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
28%
3,579
6/22/2018
YES
3.7
Dell
20%
2,507
5/13/2017
YES
3.4
Cedar
17%
2,147
12/5/2017
YES
Coffee
13%
1,706
5/26/2018
Able
12%
1,528
Ebb
5%
674
Acl
4%
Bead
0%
Abt
Feat
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
16.6
$17.00
17000
2.19
$1,400
100%
$3,000
93%
45
16.9
$17.50
17000
3.89
$1,400
100%
$3,000
84%
42
3.9
16.4
$17.50
17000
5.33
$1,400
100%
$2,250
91%
61
YES
3.9
16.4
$17.50
17000
1.51
$1,400
100%
$2,250
91%
38
10/31/2018
YES
8.0
12.2
$24.00
19000
1.97
$1,400
100%
$3,000
93%
4/22/2018
YES
3.6
16.7
$16.00
17000
2.31
$0
53%
$0
45%
24
447
6/26/2018
YES
3.9
16.4
$17.50
17000
1.63
$1,500
99%
$100
93%
35
49
9/15/2017
YES
3.9
16.4
$16.00
14000
5.44
$0
57%
$0
35%
33
0%
14
11/14/2018
YES
8.2
12.1
$24.50
19000
1.46
$2,000
90%
$100
93%
0%
10
6/5/2017
YES
3.2
17.3
$17.00
14000
4.13
$0
67%
$0
46%
21
CAPSTONE COURIER
Page 6
C58866
Round: 5
Dec. 31, 2018
5,664
5,664
13.1%
21.7%
43%
29%
MTBF 20000-25000
19%
2. Age
3. Reliability
Importance
4. Price
$27.50 - 37.50
9%
Cust.
Sold to Revision
Pfmn
Size
Out
Coord
Coord
Name
Share
Seg
Adam
19%
1,052
8/1/2018
13.1
Bid
18%
1,009
6/24/2018
13.1
Dixie
16%
883
6/5/2018
YES
Fist
15%
851
6/28/2018
Cid
13%
746
6/1/2018
Echo
13%
728
7/18/2018
Cheese
5%
281
6/22/2018
Adh
2%
89
Estar
0%
25
CAPSTONE COURIER
Date
Stock
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
7.2
$36.50
25000
1.44
$1,400
100%
$3,000
90%
81
7.2
$37.00
25000
1.51
$1,400
100%
$3,000
87%
74
13.1
7.2
$36.99
25000
1.51
$1,400
100%
$3,000
79%
69
YES
13.2
7.2
$37.00
25000
1.50
$1,400
100%
$3,000
87%
72
YES
13.1
7.2
$36.50
25000
1.53
$1,400
100%
$2,250
86%
73
13.7
6.6
$35.50
24500
1.37
$2,000
99%
$2,500
88%
51
YES
13.1
7.2
$36.50
25000
1.29
$500
38%
$750
86%
51
7/8/2017
YES
13.1
7.2
$36.50
25000
1.48
$2,000
62%
$100
90%
56
7/9/2018
YES
14.6
11.3
$34.00
26000
1.23
$1,500
97%
$3,000
88%
Page 7
C58866
Round: 5
Dec. 31, 2018
Performance Statistics
Total Industry Unit Demand
4,996
3,815
11.5%
17.1%
Importance
1. Reliability
MTBF 22000-27000
43%
2. Ideal Position
29%
3. Price
$22.50 - 32.50
19%
4. Age
9%
Cust.
Sold to Revision
Stock
Pfmn
Size
Date
Out
Coord
Coord
Name
Share
Seg
Bold
34%
1,281
6/18/2018
YES
14.1
Aft
33%
1,244
6/30/2018
YES
14.1
Estar
18%
702
7/9/2018
YES
Dot
15%
589
5/25/2018
YES
CAPSTONE COURIER
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
Survey
13.1
$32.40
27000
1.57
$1,400
100%
$3,000
84%
77
13.1
$31.50
27000
1.54
$1,400
100%
$3,000
86%
85
14.6
11.3
$34.00
26000
1.23
$1,500
97%
$3,000
35%
14.1
13.1
$32.00
27000
1.61
$0
37%
$0
18%
29
Page 8
C58866
Round: 5
Dec. 31, 2018
Size Statistics
Total Industry Unit Demand
4,801
3,889
11.1%
18.2%
43%
29%
MTBF 16000-21000
19%
2. Age
3. Reliability
Importance
4. Price
$22.50 - 32.50
9%
Cust.
Sold to Revision
Stock
Pfmn
Size
Date
Out
Coord
Coord
Name
Share
Seg
Buddy
37%
1,455
6/16/2018
YES
7.2
Agape
32%
1,244
6/30/2018
YES
7.2
Egg
19%
752
6/7/2018
YES
Dune
11%
438
5/25/2018
YES
CAPSTONE COURIER
List
Age
Promo Aware-
Cust.
Sales Access-
Dec.
Cust.
Price
MTBF
Dec.31
Budget
ness
Budget
ibility
6.2
$32.50
21000
1.57
$1,400
100%
$3,000
85%
97
6.2
$31.50
21000
1.53
$1,400
100%
$3,000
87%
105
7.5
5.8
$31.49
20000
1.51
$1,800
100%
$3,000
70%
75
7.2
6.2
$32.00
21000
1.59
$0
$0
19%
37
37%
Survey
Page 9
Market Share
C58866
Low
12,663
35.2%
Able
Acre
Adam
Aft
Agape
Acl
Abt
Adh
Total
14.7%
12.1%
28.3%
Baker
Bead
Bid
Bold
Buddy
Total
13.0%
Cake
Cedar
Cid
Coffee
Cheese
Cookie
Total
16.8%
Daze
Dell
Dixie
Dot
Dune
Total
20.6%
Eat
Ebb
Echo
Egg
Estar
Total
13.2%
Fast
Feat
Fist
Total
17.7%
High
5,664
15.8%
Pfmn
3,815
10.6%
Size
3,889
10.8%
18.2%
32.6%
11.3%
37.4%
37.4%
4.6%
6.0%
2.1%
4.7%
0.8%
0.2%
18.4%
Cake
Cedar
Cid
Coffee
Cheese
Cookie
Total
15.9%
5.7%
7.0%
2.5%
1.6%
1.2%
18.0%
Daze
Dell
Dixie
Dot
Dune
Total
15.1%
3.6%
1.9%
2.0%
2.1%
2.0%
11.7%
Eat
Ebb
Echo
Egg
Estar
Total
13.3%
4.9% Fast
Feat
2.4% Fist
7.3% Total
12.6%
17.8%
33.6%
0.4%
17.8%
33.6%
17.0%
13.2%
13.5%
5.0%
0.6%
17.4%
30.4%
18.1%
19.8%
15.6%
15.4%
20.6%
19.8%
15.6%
15.4%
11.3%
11.3%
5.3%
12.9%
19.3%
13.2%
17.7%
CAPSTONE COURIER
5.3%
0.4%
13.3%
15.0%
15.0%
18.4%
18.4%
0.6%
15.9%
Baker
Bead
Bid
Bold
Buddy
Total
0.4%
13.0%
9.2%
3.6%
0.1%
2.8%
3.6%
4.1%
14.1%
3.5%
0.1%
44.0%
Low
15,970
36.8%
32.0%
32.0%
1.6%
20.2%
Trad
11,913
27.5%
Able
Acre
Adam
Aft
Agape
Acl
Abt
Adh
Total
32.6%
3.5%
18.6%
19.3%
Round: 5
Dec. 31, 2018
High
5,664
13.1%
Pfmn
4,996
11.5%
Size
4,801
11.1%
Total
43,344
100.0%
29.2%
29.2%
2.7%
5.9%
1.9%
4.0%
3.2%
4.4%
3.5%
1.3%
26.9%
27.1%
27.1%
3.1%
3.8%
1.8%
3.6%
3.0%
15.3%
13.4%
4.4%
6.9%
1.8%
4.6%
1.3%
2.8%
25.3%
10.2%
10.2%
4.2%
5.2%
1.7%
1.4%
1.1%
13.6%
14.6%
34.4%
12.3%
11.8%
0.3%
21.4%
28.6%
10.1%
24.6%
34.4%
10.2%
14.0%
31.4%
11.3%
10.2%
14.0%
31.4%
18.8%
14.0%
12.5%
9.9%
10.3%
26.2%
31.3%
23.8%
17.2%
14.2%
13.2%
12.0%
15.1%
14.2%
13.2%
12.0%
8.4%
10.3%
20.1%
13.3%
8.4%
0.5%
10.7%
4.3%
4.3%
7.3%
12.6%
7.3%
13.6%
13.6%
0.7%
20.1%
3.7%
3.1%
1.3%
2.2%
0.6%
10.8%
3.5%
2.7%
1.8%
8.0%
Page 10
Perceptual Map
C58866
Andrews
Name
Able
Acre
Adam
Aft
Agape
Acl
Abt
Adh
Pfmn
8.0
3.7
13.1
14.1
7.2
3.9
8.2
13.1
Name
Daze
Dell
Dixie
Dot
Dune
Pfmn
8.2
3.4
13.1
14.1
7.2
Size
12.2
16.6
7.2
13.1
6.2
16.4
12.1
7.2
Baldwin
Revised
10/31/2018
6/22/2018
8/1/2018
6/30/2018
6/30/2018
6/26/2018
11/14/2018
7/8/2017
Name
Baker
Bead
Bid
Bold
Buddy
Pfmn
8.2
3.9
13.1
14.1
7.2
Revised
5/23/2018
5/13/2017
6/5/2018
5/25/2018
5/25/2018
Name
Eat
Ebb
Echo
Egg
Estar
Pfmn
8.2
3.6
13.7
7.5
14.6
Digby
CAPSTONE COURIER
Size
12.1
16.9
7.2
13.1
6.2
Size
12.1
16.4
7.2
13.1
6.2
Chester
Revised
5/17/2018
9/15/2017
6/24/2018
6/18/2018
6/16/2018
Name
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Pfmn
8.2
3.9
13.1
13.1
6.5
3.9
13.1
8.0
Revised
5/18/2018
4/22/2018
7/18/2018
6/7/2018
7/9/2018
Name
Fast
Feat
Fist
Foam
Fume
Pfmn
8.2
3.2
13.2
9.1
3.7
Erie
Size
12.1
16.7
6.6
5.8
11.3
Round: 5
Dec. 31, 2018
Size
12.1
16.4
7.2
13.8
7.2
16.4
7.2
12.4
Revised
7/1/2018
12/5/2017
6/1/2018
6/9/2017
6/9/2017
5/26/2018
6/22/2018
3/7/2016
Ferris
Size
12.1
17.3
7.2
16.1
11.6
Revised
6/23/2018
6/5/2017
6/28/2018
6/30/2011
5/25/2011
Page 11
HR/TQM Report
C58866
Round: 5
Dec. 31, 2018
Andrews
950
950
569
381
Baldwin
827
827
572
255
Chester
497
497
335
162
Digby
794
794
703
91
Erie
429
429
429
0
Ferris
306
306
306
0
Overtime Percent
Turnover Rate
New Employees
Separated Employees
Recruiting Spend
Training Hours
Productivity Index
0.0%
8.2%
78
140
$5,000
80
113.6%
0.0%
30.7%
254
123
$0
0
100.0%
0.1%
32.1%
160
455
$4,000
10
100.0%
0.1%
10.2%
209
0
$0
0
100.0%
0.0%
13.4%
57
306
$0
0
100.0%
0.0%
10.8%
33
270
$1,000
15
100.0%
Recruiting Cost
Separation Cost
Training Cost
Total HR Admin Cost
$465
$700
$1,520
$2,685
$254
$615
$0
$869
$798
$2,275
$99
$3,172
$209
$0
$0
$209
$57
$1,530
$0
$1,587
$66
$1,350
$92
$1,508
$49.09
5,091
3.4%
8.3%
$39.74
2,546
3.0%
7.5%
$41.43
2,546
1.8%
4.5%
$50.00
5,020
3.5%
9.0%
$49.50
4,470
3.4%
8.3%
$49.64
4,817
3.5%
8.8%
$48.18
5,091
3.0%
7.0%
$26.80
0
2.2%
5.5%
$29.86
0
0.0%
0.0%
$50.00
4,500
3.5%
9.0%
$49.00
3,500
2.9%
6.9%
$44.80
4,130
3.5%
8.5%
$53.00
5,600
3.3%
7.7%
$29.48
0
2.4%
6.1%
$32.85
0
0.0%
0.0%
$55.00
4,950
3.9%
9.9%
$53.90
3,850
3.2%
7.6%
$49.28
4,543
3.9%
9.4%
$50.00
5,091
3.5%
9.0%
$50.00
5,091
3.5%
9.0%
$50.00
5,091
3.5%
9.0%
$50.00
5,091
3.5%
9.0%
$50.00
5,091
3.5%
9.0%
$50.00
5,091
3.5%
9.0%
11
84
84
41
18
Baldwin
Chester
Digby
Erie
Ferris
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
$1
$1
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$1
$1
$0
$0
$0
$0
$0
$0
$1
$1
$1
$1
$1
$1
$0
$0
$0
$0
$0
$1
$0
$1
$0
$4
$0
$0
$0
$0
$0
$0
$0
$0
$0
$2
$0
$0
$0
$0
$0
$1
$1
$1
$1
$10
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%
8.32%
13.21%
40.01%
0.00%
13.82%
11.68%
13.57%
40.01%
60.02%
14.40%
11.73%
13.81%
29.25%
55.78%
13.69%
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
C58866
Round: 5
Dec. 31, 2018
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
$60,638
2018
Common
Size
4.6%
22.1%
3.6%
30.3%
$0
$34,417
$26,021
$60,438
$139,259
$199,897
121.0%
-51.3%
69.7%
100.0%
$212,439
($86,499)
$125,940
$186,378
$129,453
14.4%
0.0%
50.4%
64.8%
$29,859
$17,694
$79,214
$126,767
$70,444
$199,897
27.1%
8.1%
35.2%
100.0%
$49,196
$10,415
$59,611
$186,378
$9,104
$44,266
$7,268
$241,884
($102,625)
$28,702
$0
$100,751
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$54,196
$16,248
2017
2018
2017
$5,833
($7,153)
$16,126
$14,163
$0
($129)
Accounts Payable
($1,157)
$8,108
Inventory
$18,753
($26,021)
Accounts Receivable
($9,849)
$343
$29,706
($10,689)
($29,445)
($19,955)
$0
$12,204
$0
$0
$21,537
$0
$0
($13,771)
($17,694)
$14,694
$8,843
$13,127
$9,104
($17,517)
$9,104
$0
Annual Report
$0
$5,000
Page 14
Annual Report
Andrews
C58866
Round: 5
Dec. 31, 2018
$3,266
2018
Total
$269,285
Common
Size
100.0%
$3,372
$3,116
$0
$6,488
$1,215
$1,298
$0
$2,512
$92,609
$100,748
$872
$194,230
34.4%
37.4%
0.3%
72.1%
$2,355
$2,280
$753
$75,055
27.9%
$1,473
$501
$1,400
$3,000
$500
$6,874
$1,122
$489
$1,500
$100
$100
$3,311
$790
$881
$2,000
$100
$112
$3,883
$173
$0
$2,000
$100
$42
$2,315
$16,126
$4,286
$12,500
$15,300
$3,439
$51,651
6.0%
1.6%
4.6%
5.7%
1.3%
19.2%
$2,580
($956)
($1,603)
($1,562)
$23,404
8.7%
$1,327
$22,077
$0
$12,845
$3,231
$168
$5,833
0.5%
8.2%
0.0%
4.8%
1.2%
0.1%
2.2%
Able
Acre
Adam
Aft
Agape
Acl
Abt
Adh
Sales
$71,834
$60,850
$38,389
$39,175
$39,175
$7,829
$8,768
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$24,629
$26,260
$0
$50,889
$20,323
$20,960
$0
$41,284
$10,378
$14,919
$872
$26,168
$14,928
$16,767
$0
$31,695
$14,928
$14,793
$0
$29,720
$2,837
$2,636
$0
$5,473
Contribution Margin
$20,945
$19,566
$12,221
$7,480
$9,454
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$4,307
$844
$1,400
$3,000
$917
$10,468
$4,987
$480
$1,400
$3,000
$777
$10,643
$1,800
$591
$1,400
$3,000
$490
$7,281
$1,473
$501
$1,400
$3,000
$500
$6,874
Net Margin
$10,477
$8,923
$4,939
$606
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: 5
Dec. 31, 2018
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
$53,589
2018
Common
Size
30.3%
12.0%
0.3%
42.6%
$23,430
$16,176
$9,405
$49,011
$72,315
$125,904
104.0%
-46.3%
57.4%
100.0%
$143,634
($71,764)
$71,870
$120,881
$54,480
8.5%
0.0%
34.8%
43.3%
$13,432
$0
$55,177
$68,609
$71,423
$125,904
42.2%
14.5%
56.7%
100.0%
$41,766
$10,506
$52,272
$120,881
$38,094
$15,072
$423
$130,588
($58,273)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$10,641
$0
$43,839
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$53,137
$18,286
2017
2018
2017
$7,780
($2,413)
$8,706
$9,576
($10,020)
($104)
($2,790)
$5,087
Inventory
$8,982
($9,405)
Accounts Receivable
$1,104
($2,919)
$13,760
($177)
($468)
($12,474)
$0
$9,675
$0
$0
$20,747
$12,436
($30,747)
($10,748)
$0
$0
$1,371
$11,363
$14,664
($1,289)
$38,094
$23,430
Annual Report
$0
$11,371
Page 16
Annual Report
Baldwin
Round: 5
Dec. 31, 2018
C58866
$0
2018
Total
$157,182
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$58,235
$61,719
$51
$120,005
37.1%
39.3%
0.0%
76.3%
$0
$0
$0
$37,177
23.7%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$8,706
$1,792
$5,000
$10,400
$1,348
$27,246
5.5%
1.1%
3.2%
6.6%
0.9%
17.3%
$0
$0
$0
Baker
Bead
Bid
Bold
Buddy
NA
NA
NA
Sales
$30,251
$785
$37,333
$41,511
$47,302
$0
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$12,671
$12,122
$0
$24,793
$456
$253
$0
$708
$11,103
$14,470
$51
$25,623
$15,823
$17,399
$0
$33,223
$18,183
$17,475
$0
$35,658
$0
$0
$0
$0
Contribution Margin
$5,458
$77
$11,710
$8,288
$11,644
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$2,811
$379
$800
$1,400
$259
$5,649
$2
$0
$0
$0
$7
$9
$1,560
$484
$1,400
$3,000
$320
$6,764
$2,253
$467
$1,400
$3,000
$356
$7,476
$2,080
$463
$1,400
$3,000
$406
$7,348
Net Margin
($191)
$68
$4,946
$812
$4,295
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
$9,931
6.3%
($7,949)
$17,880
$0
$5,579
$4,305
$216
$7,780
-5.1%
11.4%
0.0%
3.5%
2.7%
0.1%
4.9%
Page 17
Annual Report
Annual Report
Chester
C58866
Round: 5
Dec. 31, 2018
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
$20,735
2018
Common
Size
1.9%
13.4%
0.0%
15.3%
$0
$53,106
$27,744
$80,850
$114,847
$135,583
147.0%
-61.8%
84.7%
100.0%
$202,350
($81,371)
$120,979
$201,829
$110,372
4.5%
5.5%
71.4%
81.4%
$14,899
$67,053
$94,510
$176,462
$25,210
$135,583
25.8%
-7.3%
18.6%
100.0%
$35,043
($9,677)
$25,366
$201,829
$2,592
$18,143
$0
$198,686
($83,839)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$6,159
$7,430
$96,783
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$35,043
($9,833)
2017
2018
2017
($156)
($5,667)
Depreciation
$13,246
$13,490
Extraordinary gains/losses/writeoffs
($4,491)
($660)
Accounts Payable
($8,740)
$6,741
Inventory
$27,744
($27,744)
Accounts Receivable
$34,963
($9,288)
$62,566
($23,128)
($2,623)
($15,670)
Dividends Paid
$0
$0
$0
$0
$0
($144)
$2,273
$15,236
NetIncome(Loss)
Annual Report
$0
($13,900)
($59,623)
$24,790
($57,350)
$25,982
$2,592
($12,815)
$2,592
$0
Page 18
Annual Report
Chester
C58866
Round: 5
Dec. 31, 2018
$1,400
2018
Total
$147,160
Common
Size
100.0%
$2,621
$3,999
$0
$6,620
$266
$538
$0
$804
$48,615
$54,062
$0
$102,677
33.0%
36.7%
0.0%
69.8%
$6,640
$3,639
$595
$44,483
30.2%
$1
$0
$0
$0
$0
$1
$2,992
$404
$1,400
$2,250
$727
$7,773
$641
$480
$500
$750
$250
$2,621
$317
$0
$500
$750
$34
$1,601
$13,246
$1,808
$6,600
$10,500
$3,584
$35,738
9.0%
1.2%
4.5%
7.1%
2.4%
24.3%
($1)
($1,133)
$1,018
($1,005)
Cake
Cedar
Cid
Coat
Cure
Coffee
Cheese
Cookie
Sales
$40,838
$37,567
$27,239
$0
$0
$29,857
$10,258
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$10,251
$15,592
$0
$25,844
$12,354
$13,050
$0
$25,404
$10,024
$10,765
$0
$20,789
$0
$0
$0
$0
$0
$0
$0
$0
$13,100
$10,118
$0
$23,218
Contribution Margin
$14,995
$12,164
$6,451
$0
$0
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$4,533
$503
$1,400
$2,250
$995
$9,681
$3,547
$0
$1,400
$2,250
$915
$8,112
$1,213
$421
$1,400
$2,250
$663
$5,948
$1
$0
$0
$0
$0
$1
Net Margin
$5,314
$4,052
$503
($1)
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
$8,745
5.9%
($4,377)
$13,122
$988
$12,374
($84)
$0
($156)
-3.0%
8.9%
0.7%
8.4%
-0.1%
0.0%
-0.1%
Page 19
Annual Report
Annual Report
Digby
C58866
Round: 5
Dec. 31, 2018
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
$30,828
2018
Common
Size
17.8%
13.0%
0.0%
30.8%
$2,987
$16,712
$0
$19,699
$69,173
$100,002
155.0%
-85.8%
69.2%
100.0%
$155,000
($75,493)
$79,507
$99,207
$88,900
10.0%
15.0%
63.8%
88.9%
$8,153
$15,900
$63,850
$87,903
$11,102
$100,002
18.4%
-7.3%
11.1%
100.0%
$18,360
($7,056)
$11,304
$99,207
2018
2017
$17,804
$13,024
$0
$155,000
($85,827)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$10,050
$15,000
$63,850
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$18,360
($7,258)
2017
($202)
$187
$10,333
$10,333
$0
($990)
$1,897
$4,537
$0
$0
$3,689
($5,637)
$15,717
$8,430
$0
$3,510
Dividends Paid
$0
$0
$0
$0
$0
$0
$0
$0
$0
($13,900)
Accounts Receivable
Net cash from operation
Cash Flows from Investing Activities
Plant Improvements
Cash Flows from Financing Activities
Annual Report
($900)
$900
($900)
($13,000)
$14,817
($1,060)
$17,804
$2,987
Page 20
Annual Report
Digby
Round: 5
Dec. 31, 2018
C58866
$0
2018
Total
$158,457
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$60,684
$61,586
$0
$122,269
38.3%
38.9%
0.0%
77.2%
$0
$0
$0
$36,188
22.8%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$10,333
$1,630
$4,200
$9,000
$1,318
$26,482
6.5%
1.0%
2.7%
5.7%
0.8%
16.7%
$0
$0
$0
$9,706
6.1%
$2
$9,704
$1,995
$8,019
($109)
$0
($202)
0.0%
6.1%
1.3%
5.1%
-0.1%
0.0%
-0.1%
Daze
Dell
Dixie
Dot
Dune
NA
NA
NA
Sales
$49,076
$43,872
$32,665
$18,839
$14,004
$0
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$18,447
$19,913
$0
$38,360
$18,526
$14,836
$0
$33,362
$10,201
$13,068
$0
$23,269
$8,118
$8,312
$0
$16,430
$5,392
$5,456
$0
$10,848
$0
$0
$0
$0
Contribution Margin
$10,716
$10,510
$9,396
$2,410
$3,156
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$3,360
$397
$1,400
$3,000
$408
$8,565
$4,693
$0
$1,400
$3,000
$365
$9,458
$1,200
$431
$1,400
$3,000
$272
$6,303
$540
$401
$0
$0
$157
$1,098
$540
$401
$0
$0
$117
$1,058
Net Margin
$2,151
$1,052
$3,094
$1,312
$2,098
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: 5
Dec. 31, 2018
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
$28,559
2018
Common
Size
16.5%
12.7%
8.6%
37.8%
$0
$10,924
$25,884
$36,808
$47,051
$75,610
119.0%
-56.7%
62.2%
100.0%
$142,300
($65,907)
$76,393
$113,201
$44,931
7.4%
0.0%
52.0%
59.4%
$9,855
$31,127
$45,950
$86,932
$30,680
$75,610
45.4%
-4.8%
40.6%
100.0%
$33,689
($7,421)
$26,268
$113,201
$12,444
$9,629
$6,486
$89,930
($42,879)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$5,577
$0
$39,354
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$34,295
($3,615)
2017
2018
2017
$3,805
($13,583)
$5,995
$9,487
($10,813)
($65)
Accounts Payable
($4,278)
$5,041
Inventory
$19,398
($25,884)
$1,295
($2,220)
$15,402
($27,224)
$34,041
$6
$0
$0
Accounts Receivable
Net cash from operation
Cash Flows from Investing Activities
Plant Improvements
Cash Flows from Financing Activities
Dividends Paid
Sales of Common Stock
$606
$0
$0
($159)
$0
$0
Annual Report
($6,477)
($13,810)
($31,127)
$31,127
($36,998)
$17,158
$12,444
($10,060)
$12,444
$0
Page 22
Annual Report
Erie
Round: 5
Dec. 31, 2018
C58866
$0
2018
Total
$117,153
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$41,633
$45,613
$778
$88,025
35.5%
38.9%
0.7%
75.1%
$8,531
$0
$0
$29,129
24.9%
$1,100
$436
$1,800
$3,000
$387
$6,724
$1,600
$528
$1,500
$3,000
$404
$7,032
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$5,995
$2,208
$7,300
$11,500
$1,915
$28,919
5.1%
1.9%
6.2%
9.8%
1.6%
24.7%
($792)
$1,499
$0
$0
Eat
Ebb
Echo
NA
Egg
Estar
NA
NA
Sales
$32,130
$10,791
$25,836
$0
$23,681
$24,715
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$13,398
$12,291
$0
$25,690
$6,067
$3,791
$0
$9,858
$7,256
$10,509
$778
$18,543
$0
$0
$0
$0
$8,794
$8,956
$0
$17,749
$6,118
$10,067
$0
$16,184
Contribution Margin
$6,440
$933
$7,293
$0
$5,932
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$1,733
$382
$2,000
$3,000
$525
$7,640
$2
$311
$0
$0
$176
$490
$1,560
$551
$2,000
$2,500
$422
$7,034
$0
$0
$0
$0
$0
$0
($1,200)
$444
$259
$0
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
$210
0.2%
($10,685)
$10,895
$0
$4,879
$2,106
$106
$3,805
-9.1%
9.3%
0.0%
4.2%
1.8%
0.1%
3.2%
Page 23
Annual Report
Annual Report
Ferris
C58866
Round: 5
Dec. 31, 2018
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
$21,216
2018
Common
Size
20.8%
8.6%
0.0%
29.4%
$4,383
$8,381
$6,025
$18,789
$50,849
$72,065
132.0%
-61.4%
70.6%
100.0%
$153,054
($67,619)
$85,435
$104,225
$11,799
5.3%
0.0%
11.1%
16.4%
$6,506
$0
$49,606
$56,112
$60,266
$72,065
66.9%
16.7%
83.6%
100.0%
$41,201
$6,912
$48,113
$104,225
$15,013
$6,203
$0
$95,086
($44,237)
Accounts Payable
Current Debt
Long Term Debt
Total Liabilities
$3,823
$0
$7,976
Common Stock
Retained Earnings
Total Equity
Total Liab. & O. Equity
$48,201
$12,065
2017
2018
2017
$5,153
($1,889)
$6,339
$10,204
Extraordinary gains/losses/writeoffs
($4,482)
($144)
Accounts Payable
($2,683)
$2,665
Inventory
$6,025
($6,025)
Accounts Receivable
$2,178
($622)
$12,530
$4,187
$31,099
($14,400)
$0
$0
$7,000
$3,152
$0
$0
$0
$0
($40,000)
($17,000)
$0
$0
($33,000)
($13,848)
$10,629
($24,061)
$15,013
$4,383
Annual Report
Page 24
Annual Report
Ferris
Round: 5
Dec. 31, 2018
C58866
$0
2018
Total
$75,475
Common
Size
100.0%
$0
$0
$0
$0
$0
$0
$0
$0
$24,860
$27,681
$0
$52,540
32.9%
36.7%
0.0%
69.6%
$0
$0
$0
$22,935
30.4%
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$6,339
$979
$2,800
$5,500
$1,741
$17,360
8.4%
1.3%
3.7%
7.3%
2.3%
23.0%
$0
$0
$0
Fast
Feat
Fist
Foam
Fume
NA
NA
NA
Sales
$43,830
$173
$31,472
$0
$0
$0
$0
Variable Costs:
Direct Labor
Direct Material
Inventory Carry
Total Variable
$13,960
$15,467
$0
$29,428
$90
$50
$0
$139
$10,810
$12,163
$0
$22,973
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
Contribution Margin
$14,403
$33
$8,499
$0
$0
Period Costs:
Depreciation
SG&A: R&D
Promotions
Sales
Admin
Total Period
$4,533
$482
$1,400
$2,500
$1,011
$9,927
$2
$0
$0
$0
$4
$6
$1,800
$497
$1,400
$3,000
$726
$7,423
$2
$0
$0
$0
$0
$2
$1
$0
$0
$0
$0
$1
Net Margin
$4,476
$27
$1,076
($2)
($1)
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
$5,575
7.4%
($3,522)
$9,097
$0
$949
$2,852
$143
$5,153
-4.7%
12.1%
0.0%
1.3%
3.8%
0.2%
6.8%
Page 25
Baldwin
Andrews
5.65
Chester
Baldwin
5.70
Chester
2.75
Digby
Digby
2.40
Erie
Erie
2.15
Ferris
Ferris
2.80