Page 1 Front Page Page 5 Thrift Segment Analysis Page 9 Market Share

Page 2 Stocks & Bonds Page 6 Core Segment Analysis Page 10 Perceptual Map
Page 3 Financial Summary Page 7 Nano Segment Analysis Page 11 HR/TQM Report
Page 4 Production Analysis Page 8 Elite Segment Analysis

Annual Report Andrews Annual Report Baldwin Annual Report Chester Annual Report Digby

Print

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Round 3
Dec. 31 2027 Ayushi
Report Dhruw

Andrews Baldwin Chester

Ayushi Dhruw

Digby

Selected Financial Statistics

Andrews Baldwin Chester Digby

ROS 4.7% 12.2% -3.6% -2.3%

Asset Turnover 1.62 1.24 0.63 0.68

ROA 7.6% 15% -2.2% -1.6%

Leverage (Assets/Equity) 1.5 1.7 2.7 2.6

ROE 11.2% 26.1% -6.1% -4.2%

Emergency Loan $14,578,363 $0 $0 $0

Sales $208,767,252 $197,923,636 $133,660,067 $163,625,619

EBIT $19,500,191 $44,588,744 $9,404,827 $12,270,162

Profits $9,757,955 $24,051,952 ($4,744,942) ($3,801,189)

Cumulative Profit $7,911,142 $50,665,403 ($4,646,444) ($639,956)

SG&A / Sales 9.6% 6.8% 10.1% 12.6%

Contrib. Margin % 26.9% 38% 35% 36.5%

Percent Of Sales $ Market Share

125%
Digby
23.2 %
Andrews
100%
29.7 %
Other
SGA
75% Depr
Var Costs
Profit
50%

25%

Chester
19.0 %
0%

-25% Baldwin
Andrews Baldwin Chester Digby 28.1 %

Market Share information is provided on Page 7.

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Round 3
Stocks & Bonds Ayushi Dhruw Dec. 31 2027

Stock Market Summary

Company Close Change Shares MarketCap($M) Book Value Per Share EPS Dividend Yield P/E

Andrews $44.60 $18.02 2,232,829 $100 $38.93 $4.37 $0.00 0.0% 10.2

Baldwin $104.07 $27.35 1,896,490 $197 $48.57 $12.68 $0.00 0.0% 8.2

Chester $12.65 ($9.41) 3,452,171 $44 $22.49 ($1.37) $0.00 0.0% -9.2

Digby $22.61 ($9.28) 3,124,914 $71 $29.17 ($1.22) $0.00 0.0% -18.6

Closing Stock Price Andrews

Baldwin
$125
Chester
Digby

$100

$75

$50

$25

$0
2020 2021 2022 2023 2024 2025 2026 2027 2028

Bond Market Summary

Company Series# Face Yield Close$ S&P

Andrews

11.2S2031 $7,811,047 11.3% 99.39 AA

11.9S2032 $7,072,000 11.7% 101.83 AA

11.1S2036 $1,000,000 11.3% 98.36 AA

Baldwin

11.1S2033 $2,366,375 11.7% 94.72 BBB

11.2S2034 $5,881,308 11.8% 94.59 BBB

11.9S2035 $1,210,724 12.2% 97.55 BBB

12.3S2036 $15,968,476 12.4% 99.48 BBB

12.5S2037 $12,264,300 12.4% 100.56 BBB

Chester

11.3S2031 $10,417,600 12.4% 90.77 C

12.5S2032 $14,665,611 13.4% 93.22 C

12.5S2033 $7,993,507 13.5% 92.33 C

12.5S2034 $9,474,649 13.7% 91.55 C

13.4S2035 $14,393,597 14.1% 94.98 C

13.8S2036 $34,621,180 14.3% 96.60 C

14.3S2037 $10,808,223 14.4% 98.98 C

Digby

11.2S2031 $8,609,806 12.3% 90.75 CC

12.4S2032 $5,757,941 13.3% 93.20 CC

12.0S2034 $15,724,719 13.4% 89.83 CC

13.0S2035 $17,739,700 13.9% 93.59 CC

13.5S2036 $38,664,271 14.1% 95.61 CC

13.9S2037 $28,462,783 14.3% 97.43 CC

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Round 3
Financial Summary Ayushi Dhruw Dec. 31 2027

Cash Flow Statement Survey

Andrews Baldwin Chester Digby
Cash flows from operating activities
Net Income (Loss) $9,758 $24,052 ($4,745) ($3,801)
Adjustment for non-cash items:
Depreciation $7,644 $10,391 $17,271 $18,600
Extraordinary gains/losses/writeoffs ($26) $0 $0 $0
Changes in current assets and liabilities:
Accounts payable ($601) $437 ($1,076) $943
Inventory ($5,218) ($2,189) $3,448 ($3)
Accounts receivable ($1,511) ($2,027) ($266) ($2,888)
Net cash from operations $10,047 $30,664 $14,632 $12,850

Cash flows from investing activities

Plant improvements (net) ($2,200) ($41,800) ($24,061) ($52,470)
Cash flows from financing activities
Dividends paid $0 $0 $0 $0
Sales of common stock $3,000 $0 $11,308 $16,610
Purchase of common stock $0 ($683) $0 $0
Cash from long term debt issued $0 $12,264 $10,808 $28,463
Early retirement of long term debt ($1,000) $0 $0 $0
Retirement of current debt ($24,425) ($28,036) ($46,010) ($35,380)
Cash from current debt borrowing $0 $20,432 $25,262 $24,566
Cash from emergency loan $14,578 $0 $0 $0

Net cash from financing activities ($7,847) $3,977 $1,368 $34,259

Net change in cash position $0 ($7,159) ($8,060) ($5,361)

Balance Sheet Survey

Andrews Baldwin Chester Digby
Cash $0 $27,479 $27,526 $21,610
Accounts Receivable $17,159 $16,268 $10,986 $13,449
Inventory $63,098 $19,963 $10,502 $14,540
Total Current Assets $80,257 $63,709 $49,013 $49,599

Plant and equipment $114,664 $155,860 $259,066 $279,000

Accumulated Depreciation ($66,006) ($59,281) ($96,040) ($89,538)
Total Fixed Assets $48,658 $96,579 $163,026 $189,462

Total Assets $128,915 $160,288 $212,039 $239,061

Accounts Payable $11,534 $10,061 $6,759 $8,395

Current Debt $14,578 $20,432 $25,262 $24,566
Total Current Liabilities $26,112 $30,493 $32,021 $32,961

Long Term Debt $15,883 $37,691 $102,374 $114,959

Total Liabilities $41,995 $68,184 $134,395 $147,920

Common Stock $20,080 $10,168 $52,286 $52,832

Retained Earnings $66,840 $81,936 $25,358 $38,309
Total Equity $86,920 $92,104 $77,644 $91,141

Total Liabilities & Owner's Equity $128,915 $160,288 $212,039 $239,061

Income Statement Survey

Andrews Baldwin Chester Digby
Sales $208,767 $197,924 $133,660 $163,626
Variable Costs (Labor, Material, Carry) $152,704 $122,615 $86,944 $103,880
Contribution Margin $56,063 $75,309 $46,716 $59,746
Depreciation $7,644 $10,391 $17,271 $18,600
SGA (R&D, Promo, Sales, Admin) $19,959 $13,456 $13,435 $20,622
Other (Fees, Writeoffs, TQM, Bonuses $8,959 $6,873 $6,606 $8,254
EBIT $19,500 $44,589 $9,405 $12,270
Interest (Short term, Long term) $4,182 $6,831 $16,705 $18,118
Taxes $5,362 $13,215 ($2,555) ($2,047)
Profit Sharing $199 $491 $0 $0
Net Profit $9,758 $24,052 ($4,745) ($3,801)

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Round 3
Production Analysis Ayushi Dhruw Dec. 31 2027

Production Capacity

Andrews

Baldwin

Chester

Digby

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,…

Capacity Production

Andrews Baldwin Chester Digby

Units Produced 7,906 5,743 6,535 6,830

Production Information
Capacity
Primary Units Unit Revision Age Pfmn Size Material Labor Contr. 2nd Shift & Automation Next Plant
Name Segment Sold Inventory Date Dec.31 MTBF Coord Coord Price Cost Cost Marg. Overtime Next Round Round Utiliz.

Apple Elite 1,742 518 8/24/2027 1.3 26000 15.0 7.4 $38.50 $13.54 $11.01 34% 96% 4.0 914 195%

Ate Thrift 1,796 1,153 7/12/2027 2.7 19000 7.8 12.2 $16.99 $6.99 $4.70 19% 92% 8.0 1,130 191%

Attic Core 2,476 1,309 2/25/2027 1.8 22000 9.8 10.5 $24.00 $9.23 $9.47 14% 100% 5.0 1,200 198%

Alan Nano 1,362 444 7/4/2027 1.4 20000 12.4 5.1 $38.00 $11.77 $10.98 37% 94% 4.0 928 192%

Beetle Nano 1,726 97 11/5/2027 1.2 23000 13.8 4.2 $34.00 $13.66 $7.91 38% 100% 7.0 1,150 198%

Bill Elite 1,224 159 8/24/2027 1.9 25000 16.6 6.2 $34.00 $14.56 $6.77 36% 60% 7.0 800 158%

Boat Nano 1,244 310 7/3/2027 1.3 23000 14.3 3.7 $37.00 $14.04 $7.20 40% 37% 7.0 1,200 136%

Best Elite 1,395 354 7/25/2027 1.3 25000 16.4 5.9 $37.00 $14.57 $7.40 38% 50% 7.0 1,300 149%

Cent Thrift 1,694 176 4/29/2028 3.7 17000 8.1 11.9 $16.00 $6.80 $3.21 34% 0% 10.0 1,749 96%

Clack Thrift 1,774 158 4/29/2028 3.6 17000 8.3 11.7 $16.00 $6.96 $3.21 33% 0% 10.0 1,949 86%

Coat Core 1,542 235 12/16/2026 2.1 18000 11.2 8.2 $24.00 $9.72 $4.65 37% 37% 8.0 1,091 136%

Creak Core 1,716 228 12/18/2026 2.1 20000 11.9 8.7 $24.00 $10.36 $4.64 35% 36% 8.0 1,250 135%

Deft Thrift 819 183 12/20/2027 2.2 14000 8.8 11.2 $17.00 $6.82 $1.79 48% 0% 10.0 1,348 29%

Dim Core 1,698 154 12/7/2025 3.1 16000 9.7 10.3 $19.00 $8.14 $3.59 35% 0% 10.0 1,697 99%

Don Nano 1,167 236 12/17/2027 1.0 18000 13.2 4.1 $30.00 $12.74 $6.89 34% 47% 7.0 950 146%

Drum Elite 792 213 11/26/2027 1.1 20000 16.3 6.6 $36.00 $13.59 $6.88 42% 6% 7.0 900 105%

Daft Core 1,492 142 12/25/2027 0.9 16000 11.1 8.8 $21.00 $9.31 $5.64 30% 60% 8.0 1,032 158%

Deal Core 1,026 11 2/10/2027 0.9 16000 10.8 9.2 $22.00 $9.03 $4.44 38% 100% 8.0 1,031 176%

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Thrift Market Segment Round 3
Analysis Ayushi Dhruw Dec. 31 2027

Thrift Statisitcs Accessibility Thrift

Total Industry Unit Demand 6,974

Actual Industry Unit Sales 6,974

Andrews
Segment % of Total Industry 26.1%

Next Year's Segment Growth Rate 11%

Baldwin
Thrift Customer Buying Criteria
Expectations Importance

1. Price $14.00 - 26.00 55% Chester

2. Reliability MTBF 14000-20000 20%

3. Ideal Position Pfmn 8.3 Size 11.7 15%

4. Age Ideal Age = 3.0 10%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Thrift Actual vs Potential Market Share Thrift

20 50%

18

16 40%

14
Ate
Cent
Clack 30%
12 Deft
Attic
Dim
Size

10 Deal
Daft
20%
8

6
10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Thrift Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Ate 26% 1,792 7/12/2027 7.8 12.2 $16.99 19000 2.73 $1,500 88% $2,000 84% 66

Cent 22% 1,520 4/29/2028 8.1 11.9 $16.00 17000 3.74 $1,250 78% $1,400 75% 54

Clack 22% 1,510 4/29/2028 8.3 11.7 $16.00 17000 3.64 $1,250 79% $1,400 75% 55

Deft 11% 796 12/20/2027 8.8 11.2 $17.00 14000 2.25 $1,140 66% $1,000 72% 31

Dim 9% 607 12/7/2025 9.7 10.3 $19.00 16000 3.11 $1,140 67% $1,000 72% 24

Attic 8% 562 2/25/2027 9.8 10.5 $24.00 22000 1.82 $1,700 100% $2,300 84% 23

Daft 2% 162 12/25/2027 11.1 8.8 $21.00 16000 0.88 $1,140 58% $900 72% 0

Deal 0% 25 2/10/2027 10.8 9.2 $22.00 16000 0.89 $1,140 51% $900 72% 3

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Round 3
Core Market Segment Analysis Ayushi Dhruw Dec. 31 2027

Core Statisitcs Accessibility Core

Total Industry Unit Demand 8,883

Actual Industry Unit Sales 8,883

Andrews
Segment % of Total Industry 33.3%

Next Year's Segment Growth Rate 10%

Baldwin
Core Customer Buying Criteria
Expectations Importance

1. Price $20.00 - 32.00 46% Chester

2. Age Ideal Age = 2.0 20%

3. Reliability MTBF 16000-22000 18%

4. Ideal Position Pfmn 11.3 Size 8.7 16%

Digby

0% 10% 20% 30% 40% 50% 60% 70% 80%

Perceptual Map For Core Actual vs Potential Market Share Core

20 50%

18

16 40%

14
Ate
Cent
Clack 30%
12 Deft
Attic
Dim
Size

10 Deal
Daft
Creak
Coat 20%
8 Apple

6
Beetle 10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Core Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Attic 22% 1,914 2/25/2027 9.8 10.5 $24.00 22000 1.82 $1,700 100% $2,300 71% 51

Creak 18% 1,635 12/18/2026 11.9 8.7 $24.00 20000 2.1 $1,250 78% $1,100 76% 50

Coat 16% 1,444 12/16/2026 11.2 8.2 $24.00 18000 2.09 $1,250 78% $1,100 76% 44

Daft 15% 1,330 12/25/2027 11.1 8.8 $21.00 16000 0.88 $1,140 58% $900 72% 38

Dim 12% 1,092 12/7/2025 9.7 10.3 $19.00 16000 3.11 $1,140 67% $1,000 72% 26

Deal 11% 1,001 2/10/2027 10.8 9.2 $22.00 16000 0.89 $1,140 51% $900 72% 31

Clack 3% 263 4/29/2028 8.3 11.7 $16.00 17000 3.64 $1,250 79% $1,400 76% 2

Cent 2% 174 4/29/2028 8.1 11.9 $16.00 17000 3.74 $1,250 78% $1,400 76% 0

Deft 0% 23 12/20/2027 8.8 11.2 $17.00 14000 2.25 $1,140 66% $1,000 72% 8

Ate 0% 5 7/12/2027 7.8 12.2 $16.99 19000 2.73 $1,500 88% $2,000 71% 0

Beetle 0% 3 11/5/2027 13.8 4.2 $34.00 23000 1.24 $1,350 87% $1,000 11% 0

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Round 3
Nano Market Segment Analysis Ayushi Dhruw Dec. 31 2027

Nano Statisitcs Accessibility Nano

Total Industry Unit Demand 5,403

Actual Industry Unit Sales 5,403

Andrews
Segment % of Total Industry 20.3%

Next Year's Segment Growth Rate 14%

Baldwin
Nano Customer Buying Criteria
Expectations Importance

1. Ideal Position Pfmn 13.2 Size 3.9 35% Chester

2. Price $28.00 - 40.00 27%

3. Age Ideal Age = 1.0 20%

4. Reliability MTBF 18000-24000 18%

Digby

0% 20% 40% 60% 80% 100% 120%

Perceptual Map For Nano Actual vs Potential Market Share Nano

20 60%

18
50%
16

14 40%

12
30%
Size

10
Creak
Coat
8 Apple
Drum 20%
Bill
Best
6 Alan
Beetle
Don
Boat 10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Nano Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Beetle 25% 1,363 11/5/2027 13.8 4.2 $34.00 23000 1.24 $1,350 87% $1,000 83% 62

Boat 22% 1,191 7/3/2027 14.3 3.7 $37.00 23000 1.34 $1,350 87% $900 83% 48

Alan 21% 1,145 7/4/2027 12.4 5.1 $38.00 20000 1.39 $2,500 100% $3,000 97% 40

Don 19% 1,051 12/17/2027 13.2 4.1 $30.00 18000 1.03 $1,140 67% $1,900 70% 46

Apple 6% 317 8/24/2027 15.0 7.4 $38.50 26000 1.25 $2,000 100% $2,200 97% 8

Coat 2% 98 12/16/2026 11.2 8.2 $24.00 18000 2.09 $1,250 78% $1,100 18% 2

Best 2% 84 7/25/2027 16.4 5.9 $37.00 25000 1.34 $1,350 87% $900 83% 0

Creak 2% 81 12/18/2026 11.9 8.7 $24.00 20000 2.1 $1,250 78% $1,100 18% 1

Drum 1% 55 11/26/2027 16.3 6.6 $36.00 20000 1.07 $1,140 67% $2,200 70% 0

Bill 0% 17 8/24/2027 16.6 6.2 $34.00 25000 1.9 $1,350 87% $1,000 83% 0

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Round 3
Elite Market Segment Analysis Ayushi Dhruw Dec. 31 2027

Elite Statisitcs Accessibility Elite

Total Industry Unit Demand 5,425

Actual Industry Unit Sales 5,425

Andrews
Segment % of Total Industry 20.3%

Next Year's Segment Growth Rate 16%

Baldwin
Elite Customer Buying Criteria
Expectations Importance

1. Age Ideal Age = 0.0 34% Chester

2. Price $30.00 - 42.00 24%

3. Ideal Position Pfmn 16.1 Size 6.8 22%

4. Reliability MTBF 20000-26000 20%

Digby

0% 20% 40% 60% 80% 100% 120%

Perceptual Map For Elite Actual vs Potential Market Share Elite

20 60%

18
50%
16

14 40%

12
30%
Size

10

8 Apple
Drum 20%
Bill
Best
6 Alan
Beetle
Don
Boat 10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Elite Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Apple 26% 1,425 8/24/2027 15.0 7.4 $38.50 26000 1.25 $2,000 100% $2,200 98% 56

Best 24% 1,311 7/25/2027 16.4 5.9 $37.00 25000 1.34 $1,350 87% $900 87% 48

Bill 22% 1,207 8/24/2027 16.6 6.2 $34.00 25000 1.9 $1,350 87% $1,000 87% 47

Drum 14% 737 11/26/2027 16.3 6.6 $36.00 20000 1.07 $1,140 67% $2,200 69% 30

Beetle 7% 359 11/5/2027 13.8 4.2 $34.00 23000 1.24 $1,350 87% $1,000 87% 8

Alan 4% 217 7/4/2027 12.4 5.1 $38.00 20000 1.39 $2,500 100% $3,000 98% 4

Don 2% 116 12/17/2027 13.2 4.1 $30.00 18000 1.03 $1,140 67% $1,900 69% 1

Boat 1% 52 7/3/2027 14.3 3.7 $37.00 23000 1.34 $1,350 87% $900 87% 1

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Round 3
Market Share Report Ayushi Dhruw Dec. 31 2027

Units Sold vs Demand Market Share

10,000 60%

9,000
50%
8,000

7,000
40%
6,000

5,000 30%

4,000
20%
3,000

2,000
10%
1,000

0 0%
Thrift Core Nano Elite Andrews Baldwin Chester Digby

Industry Unit Sales Total Unit Demand Thrift Core Nano Elite

Actual Market Share in Units Potential Market Share in Units

Thrift Core Nano Elite Total Thrift Core Nano Elite Total

Industry Unit Sales 6,974 8,883 5,403 5,425 26,684 Units Demanded 6,974 8,883 5,403 5,425 26,684

% of Market 26.1% 33.3% 20.3% 20.3% 100.0% % of Market 26.1% 33.3% 20.3% 20.3% 100.0%

Apple 5.9% 26.3% 6.5% Apple 5.9% 26.3% 6.5%

Ate 25.7% 0.1% 6.7% Ate 25.7% 0.1% 6.7%

Attic 8.1% 21.6% 9.3% Attic 8.1% 21.5% 9.3%

Alan 21.2% 4.0% 5.1% Alan 21.2% 4.0% 5.1%

Total 33.8% 21.6% 27.1% 30.3% 27.6% Total 33.8% 21.6% 27.1% 30.3% 27.6%

Beetle 25.2% 6.6% 6.5% Beetle 25.2% 6.6% 6.5%

Bill 0.3% 22.3% 4.6% Bill 0.3% 22.3% 4.6%

Boat 22.1% 1.0% 4.7% Boat 22.0% 1.0% 4.7%

Best 1.6% 24.2% 5.2% Best 1.6% 24.2% 5.2%

Total 49.2% 54.0% 20.9% Total 49.2% 54.0% 20.9%

Cent 21.8% 2.0% 6.4% Cent 21.8% 2.0% 6.3%

Clack 21.7% 3.0% 6.7% Clack 21.7% 3.0% 6.6%

Coat 16.3% 1.8% 5.8% Coat 16.3% 1.8% 5.8%

Creak 18.4% 1.5% 6.4% Creak 18.4% 1.5% 6.4%

Total 43.5% 39.6% 3.3% 25.2% Total 43.5% 39.6% 3.3% 25.2%

Deft 11.4% 0.3% 3.1% Deft 11.4% 0.3% 3.1%

Dim 8.7% 12.3% 6.4% Dim 8.7% 12.3% 6.4%

Don 19.5% 2.1% 4.4% Don 19.5% 2.1% 4.4%

Drum 1.0% 13.6% 3.0% Drum 1.0% 13.6% 3.0%

Daft 2.3% 15.0% 5.6% Daft 2.3% 15.0% 5.6%

Deal 0.4% 11.3% 3.8% Deal 0.4% 11.3% 3.8%

Total 22.8% 38.8% 20.5% 15.7% 26.2% Total 22.8% 38.8% 20.5% 15.7% 26.2%

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Round 3
Perceptual Map Ayushi Dhruw Dec. 31 2027

20

18

16

14

Ate
Cent
Clack
12 Deft
Attic
Dim
Size 10
Deal
Daft
Creak
Coat
8 Apple
Drum
Bill
Best
6
Alan
Beetle
Don
4 Boat

0
0 2 4 6 8 10 12 14 16 18 20
Performance

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised

Apple 15.0 7.4 8/24/2027 Beetle 13.8 4.2 11/5/2027 Cent 8.1 11.9 4/29/2028

Ate 7.8 12.2 7/12/2027 Bill 16.6 6.2 8/24/2027 Clack 8.3 11.7 4/29/2028

Attic 9.8 10.5 2/25/2027 Boat 14.3 3.7 7/3/2027 Coat 11.2 8.2 12/16/2026

Alan 12.4 5.1 7/4/2027 Best 16.4 5.9 7/25/2027 Creak 11.9 8.7 12/18/2026

Digby

Name Pfmn Size Revised

Deft 8.8 11.2 12/20/2027

Dim 9.7 10.3 12/7/2025

Don 13.2 4.1 12/17/2027

Drum 16.3 6.6 11/26/2027

Daft 11.1 8.8 12/25/2027

Deal 10.8 9.2 2/10/2027

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Round 3
HR/TQM Report Ayushi Dhruw Dec. 31 2027
Human Resources Summary

Andrews Baldwin Chester Digby

Needed Complement 926 588 398 532

Complement 926 588 398 532

1st Shift Complement 472 365 340 405

2nd Shift Complement 454 223 58 128

Overtime % 0.0% 0.0% 0.0% 0.0%

Turnover Rate 9.9% 10.0% 8.0% 6.1%

New Employees 92 59 32 66

Separated Employees 21 43 44 0

Recruiting Spend $100 $0 $2,500 $5,000

Training Hours 2 0 40 80

Productivity Index 100.0% 100.0% 115.9% 127.4%

Recruiting Cost $101 $59 $111 $399

Separation Cost $105 $217 $221 $0

Training Cost $37 $0 $319 $852

Total HR Admin Cost $243 $276 $651 $1,250

Labor Contract Next Year

Wages $29.56 $29.56 $29.56 $29.56

Benefits 2,500 2,500 2,500 2,500

Profit Sharing 2.0% 2.0% 2.0% 2.0%

Annual Raise 5.0% 5.0% 5.0% 5.0%

TQM Summary

Andrews Baldwin Chester Digby

Process Mgt Budgets Last Year

CPI Systems $200 $0 $1,250 $1,500

Vendor/JIT $300 $0 $1,250 $1,500

Quality Initiative Training $1,300 $1,250 $0 $0

Channel Support Systems $600 $1,250 $1,500 $0

Concutrent Engineering $900 $1,250 $0 $0

UNEP Green Programs $850 $0 $0 $1,500

TQM Budgets Last Year

Benchmarking $1,000 $0 $0 $1,500

Quality Function Deployment Effort $970 $0 $0 $0

CCE/6 Sigma Training $1,600 $1,250 $750 $0

GEMI TQEM Sustainability Initiatives $1,100 $1,250 $750 $0

Total Expenditures $8,820 $6,250 $5,500 $6,000

Cumulative Impacts

Material Cost Reduction 7.89% 6.43% 6.03% 1.41%

Labor Cost Reduction 13.97% 13.93% 1.78% 0.05%

Reduction R&D Cycle Time 39.41% 39.79% 0.00% 0.00%

Reduction Admin Costs 54.71% 0.00% 16.23% 43.11%

Demand Increase 8.93% 9.37% 5.47% 0.45%

COMP-XM® INQUIRER Page 11

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Andrews C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common
Common Size
size column simply represents each item as a
percentage of total assets for that year. Cash: Your Cash $0 0% $0

end-of-year cash position. Accounts Accounts Receivable $17,159 13.3% $15,648

Receivable: Reflects the lag between delivery and
Inventory $63,098 48.9% $57,880
payment of your products. Inventories: The
current value of your inventory across all products. A Total Current Assets $80,257 62.3% $73,528

zero indicates your company stocked out. Unmet Plant & Equipment $114,664 88.9% $112,464
demand would, of course, fall to your competitors.
Accumulated Depreciation ($66,006) -51.2% ($58,362)
Plant & Equipment: The current value of your
plant. Accum Deprec: The total accumulated Total Fixed Assets $48,658 37.7% $54,102

depreciation from your plant. Accts Payable: Total assets $128,915 100% $127,631
What the company currently owes suppliers for
LIABILITIES & OWNERS' EQUITY
materials and services. Current Debt: The debt
the company is obligated to pay during the next year Accounts Payable $11,534 8.9% $12,134
of operations. It includes emergency loans used to
Current Debt $14,578 11.3% $24,425
keep your company solvent should you run out of
Long Term Debt $15,883 12.3% $16,909
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Total Liabilities $41,995 32.6% $53,468
this represents the total value of your bonds.
Common Stock $20,080 15.6% $17,080
Common Stock: The amount of capital invested
by shareholders in the company. Retained Retained Earnings $66,840 51.8% $57,082

Earnings: The profits that the company chose to Total Equity $86,920 67.4% $74,162
keep instead of paying to shareholders as dividends.
Total Liab. & O. Equity $128,915 100% $127,631

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash
Net income (Loss) $9,758 ($963)
Account during the year. Cash injections appear as positive numbers and
cash withdrawals as negative numbers. The Cash Flow Statement is an Depreciation $7,644 $7,498

excellent tool for diagnosing emergency loans. When negative cash flows Extraordinary gain/losses/writeoffs ($26) $0
exceed positives, you are forced to seek emergency funding. For example,
Accounts Payable ($601) $2,959
if sales are bad and you find yourself carrying an abundance of excess
inventory, the report would show the increase in inventory as a huge Inventory ($5,218) ($3,322)

negative cash flow. Too much unexpected inventory could outstrip your Accounts Receivable ($1,511) ($5,192)
inflows, exhaust your starting cash and force you to beg for money to
Net cash from operations $10,047 $980
keep your company afloat.
Cash Flows from Investing Activities:

Plant Improvements ($2,200) ($15,640)

Cash Flow Summary Andrews
Cash Flows from Financing Activities:
15k
Dividends paid $0 $0

Sales of Common Stock $3,000 $2,000

10k
Purchase of Common Stock $0 $0

Cash from long term debt $0 $1,000

5k Retirement of long term debt ($1,000) ($11,300)

Change in current debt (net) ($9,847) $22,960

0 Net cash from financing activities ($7,847) $14,660

Net change in cash position $0 $0

Closing cash position $0 $0

-5k

-10k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Andrews C59559 Dec. 31 2027

2027 Income Statement

Product Name Apple Ate Attic Alan NA NA NA NA Total Common Size

Sales $67,082 $30,518 $59,425 $51,742 $0 $0 $0 $0 $208,767 100%

Variable Costs:

Direct Labor $19,119 $9,797 $23,290 $14,954 $0 $0 $0 $0 $67,159 32.2%

Direct Material $23,525 $13,239 $24,732 $16,477 $0 $0 $0 $0 $77,973 37.3%

Inventory Carry $1,521 $1,775 $3,046 $1,230 $0 $0 $0 $0 $7,572 3.6%

Total Variable $44,165 $24,810 $51,069 $32,661 $0 $0 $0 $0 $152,704 73.1%

Contribution Margin $22,917 $5,708 $8,356 $19,082 $0 $0 $0 $0 $56,063 26.9%

Period Costs:

Depreciation $1,341 $2,863 $2,080 $1,361 $0 $0 $0 $0 $7,644 3.7%

R&D $654 $535 $154 $512 $0 $0 $0 $0 $1,855 0.9%

Promotions $2,000 $1,500 $1,700 $2,500 $0 $0 $0 $0 $7,700 3.7%

Sales $2,200 $2,000 $2,300 $3,000 $0 $0 $0 $0 $9,500 4.6%

Admin $291 $132 $258 $224 $0 $0 $0 $0 $905 0.4%

Total Period $6,486 $7,030 $6,492 $7,597 $0 $0 $0 $0 $27,604 13.2%

Net Margin $16,432 ($1,322) $1,865 $11,485 $0 $0 $0 $0 $28,459 13.6%

Other $8,959 4.3%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred
to produce the product that was sold. Inventory Carry Cost: the cost to carry unsold EBIT $19,500 9.3%
goods in inventory. Depreciation: Calculated on straight-line 15-year depreciation of Short Term Interest $2,354 1.1%
plant value. R&D Costs: R&D department expenditures for each product. Admin:
Long Term Interest $1,827 0.9%
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: Taxes $5,362 2.6%
Charges not included in other categories such as Fees, Write Offs, and TQM. The fees Profit Sharing $199 0.1%
include money paid to investment bankers and brokerage firms to issue new stocks or
Net Profit $9,758 4.7%
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 Variables Margins
money on the liquidation of capacity or inventory. EBIT: Earnings Before Interest and
40%
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 30%
contract. Net Profit: EBIT minus interest, taxes, and profit sharing.

20%

10%

0%

Apple Ate Attic Alan NA

NA NA NA

COOKIE SETTINGS
 Profit History Market Share History
$25,000 40%

$20,000

30%

$15,000

$10,000 20%

$5,000

10%

$0

$-5,000 0%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROE History Asset Turnover History

40% 2.0

30%
1.5

20%

1.0

10%

0.5
0%

-10% 0.0

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROS History ROA History

15% 20%

15%
10%

10%

5%

5%

0%
0%

-5% -5%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Baldwin C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common
Common Size
size column simply represents each item as a
percentage of total assets for that year. Cash: Your Cash $27,479 17.1% $34,638

end-of-year cash position. Accounts Accounts Receivable $16,268 10.1% $14,240

Receivable: Reflects the lag between delivery and
Inventory $19,963 12.5% $17,774
payment of your products. Inventories: The
current value of your inventory across all products. A Total Current Assets $63,710 39.7% $66,652

zero indicates your company stocked out. Unmet Plant & Equipment $155,860 97.2% $114,060
demand would, of course, fall to your competitors.
Accumulated Depreciation ($59,281) -37% ($48,891)
Plant & Equipment: The current value of your
plant. Accum Deprec: The total accumulated Total Fixed Assets $96,579 60.3% $65,169

depreciation from your plant. Accts Payable: Total assets $160,288 100% $131,821
What the company currently owes suppliers for
LIABILITIES & OWNERS' EQUITY
materials and services. Current Debt: The debt
the company is obligated to pay during the next year Accounts Payable $10,061 6.3% $9,624
of operations. It includes emergency loans used to
Current Debt $20,432 12.7% $28,036
keep your company solvent should you run out of
Long Term Debt $37,691 23.5% $25,427
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Total Liabilities $68,184 42.5% $63,087
this represents the total value of your bonds.
Common Stock $10,168 6.3% $10,270
Common Stock: The amount of capital invested
by shareholders in the company. Retained Retained Earnings $81,936 51.1% $58,465

Earnings: The profits that the company chose to Total Equity $92,104 57.5% $68,735
keep instead of paying to shareholders as dividends.
Total Liab. & O. Equity $160,288 100% $131,821

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash
Net income (Loss) $24,052 $16,632
Account during the year. Cash injections appear as positive numbers and
cash withdrawals as negative numbers. The Cash Flow Statement is an Depreciation $10,391 $7,604

excellent tool for diagnosing emergency loans. When negative cash flows Extraordinary gain/losses/writeoffs $0 $0
exceed positives, you are forced to seek emergency funding. For example,
Accounts Payable $437 $2,120
if sales are bad and you find yourself carrying an abundance of excess
inventory, the report would show the increase in inventory as a huge Inventory ($2,189) ($5,147)

negative cash flow. Too much unexpected inventory could outstrip your Accounts Receivable ($2,027) ($2,763)
inflows, exhaust your starting cash and force you to beg for money to
Net cash from operations $30,664 $18,446
keep your company afloat.
Cash Flows from Investing Activities:

Plant Improvements ($41,800) ($20,100)

Cash Flow Summary Baldwin
Cash Flows from Financing Activities:
40k
Dividends paid $0 $0

Sales of Common Stock $0 $1,468

20k
Purchase of Common Stock ($683) $0

Cash from long term debt $12,264 $15,968

0 Retirement of long term debt $0 ($11,300)

Change in current debt (net) ($7,604) $13,620

-20k Net cash from financing activities $3,977 $19,757

Net change in cash position ($7,159) $18,104

Closing cash position $27,479 $34,638

-40k

-60k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Baldwin C59559 Dec. 31 2027

2027 Income Statement

Product Name Beetle Bill Boat Best Na Na Na Na Total Common Size

Sales $58,671 $41,613 $46,017 $51,622 $0 $0 $0 $0 $197,924 100%

Variable Costs:

Direct Labor $13,701 $8,563 $9,164 $10,408 $0 $0 $0 $0 $41,836 21.1%

Direct Material $22,458 $17,853 $17,621 $20,452 $0 $0 $0 $0 $78,384 39.6%

Inventory Carry $244 $411 $800 $940 $0 $0 $0 $0 $2,396 1.2%

Total Variable $36,403 $26,828 $27,584 $31,800 $0 $0 $0 $0 $122,615 62%

Contribution Margin $22,268 $14,785 $18,433 $19,823 $0 $0 $0 $0 $75,309 38%

Period Costs:

Depreciation $2,911 $1,813 $2,720 $2,947 $0 $0 $0 $0 $10,391 5.2%

R&D $858 $655 $510 $571 $0 $0 $0 $0 $2,595 1.3%

Promotions $1,350 $1,350 $1,350 $1,350 $0 $0 $0 $0 $5,400 2.7%

Sales $1,000 $1,000 $900 $900 $0 $0 $0 $0 $3,800 1.9%

Admin $492 $349 $386 $433 $0 $0 $0 $0 $1,661 0.8%

Total Period $6,611 $5,168 $5,866 $6,201 $0 $0 $0 $0 $23,846 12%

Net Margin $15,656 $9,617 $12,567 $13,622 $0 $0 $0 $0 $51,462 26%

Other $6,873 3.5%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred
to produce the product that was sold. Inventory Carry Cost: the cost to carry unsold EBIT $44,589 22.5%
goods in inventory. Depreciation: Calculated on straight-line 15-year depreciation of Short Term Interest $2,268 1.1%
plant value. R&D Costs: R&D department expenditures for each product. Admin:
Long Term Interest $4,563 2.3%
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: Taxes $13,215 6.7%
Charges not included in other categories such as Fees, Write Offs, and TQM. The fees Profit Sharing $491 0.2%
include money paid to investment bankers and brokerage firms to issue new stocks or
Net Profit $24,052 12.2%
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 Variables Margins
money on the liquidation of capacity or inventory. EBIT: Earnings Before Interest and
50%
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
40%
upon a 35% tax rate. Profit Sharing: Profits shared with employees under the labor
contract. Net Profit: EBIT minus interest, taxes, and profit sharing.

30%

20%

10%

0%

Beetle Bill Boat Best NA

NA NA NA

COOKIE SETTINGS
 Profit History Market Share History
$30,000 30%

$25,000 25%

$20,000 20%

$15,000 15%

$10,000 10%

$5,000 5%

$0 0%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROE History Asset Turnover History

30% 2.0

25%

1.5

20%

15% 1.0

10%

0.5

5%

0% 0.0

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROS History ROA History

15% 20%

12.5%

15%

10%

7.5% 10%

5%

5%

2.5%

0% 0%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Chester C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common
Common Size
size column simply represents each item as a
percentage of total assets for that year. Cash: Your Cash $27,526 13% $35,586

end-of-year cash position. Accounts Accounts Receivable $10,986 5.2% $10,720

Receivable: Reflects the lag between delivery and
Inventory $10,502 5% $13,950
payment of your products. Inventories: The
current value of your inventory across all products. A Total Current Assets $49,014 23.1% $60,256

zero indicates your company stocked out. Unmet Plant & Equipment $259,066 122.2% $235,005
demand would, of course, fall to your competitors.
Accumulated Depreciation ($96,040) -45.3% ($78,769)
Plant & Equipment: The current value of your
plant. Accum Deprec: The total accumulated Total Fixed Assets $163,026 76.9% $156,236

depreciation from your plant. Accts Payable: Total assets $212,039 100% $216,492
What the company currently owes suppliers for
LIABILITIES & OWNERS' EQUITY
materials and services. Current Debt: The debt
the company is obligated to pay during the next year Accounts Payable $6,759 3.2% $7,835
of operations. It includes emergency loans used to
Current Debt $25,262 11.9% $46,010
keep your company solvent should you run out of
Long Term Debt $102,374 48.3% $91,566
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Total Liabilities $134,395 63.4% $145,411
this represents the total value of your bonds.
Common Stock $52,286 24.7% $40,978
Common Stock: The amount of capital invested
by shareholders in the company. Retained Retained Earnings $25,358 12% $30,103

Earnings: The profits that the company chose to Total Equity $77,644 36.6% $71,081
keep instead of paying to shareholders as dividends.
Total Liab. & O. Equity $212,039 100% $216,492

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026

The Cash Flow Statement examines what happened in the Cash
Net income (Loss) ($4,745) ($8,405)
Account during the year. Cash injections appear as positive numbers and
cash withdrawals as negative numbers. The Cash Flow Statement is an Depreciation $17,271 $15,667

excellent tool for diagnosing emergency loans. When negative cash flows Extraordinary gain/losses/writeoffs $0 $0
exceed positives, you are forced to seek emergency funding. For example,
Accounts Payable ($1,076) ($1,746)
if sales are bad and you find yourself carrying an abundance of excess
inventory, the report would show the increase in inventory as a huge Inventory $3,448 ($8,583)

negative cash flow. Too much unexpected inventory could outstrip your Accounts Receivable ($266) $3,573
inflows, exhaust your starting cash and force you to beg for money to
Net cash from operations $14,632 $506
keep your company afloat.
Cash Flows from Investing Activities:

Plant Improvements ($24,061) ($57,445)

Cash Flow Summary Chester
Cash Flows from Financing Activities:
20k
Dividends paid $0 $0

Sales of Common Stock $11,308 $13,396

10k
Purchase of Common Stock $0 $0

Cash from long term debt $10,808 $34,621

0 Retirement of long term debt $0 ($11,300)

Change in current debt (net) ($20,748) $20,857

-10k Net cash from financing activities $1,368 $57,574

Net change in cash position ($8,060) $636

Closing cash position $27,526 $35,586

-20k

-30k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Chester C59559 Dec. 31 2027

2027 Income Statement

Product Name Cent Clack Coat Creak Na Na Na Na Total Common Size

Sales $27,099 $28,379 $37,004 $41,178 $0 $0 $0 $0 $133,660 100%

Variable Costs:

Direct Labor $5,564 $5,838 $7,232 $7,979 $0 $0 $0 $0 $26,613 19.9%

Direct Material $12,035 $12,929 $15,638 $18,469 $0 $0 $0 $0 $59,070 44.2%

Inventory Carry $220 $201 $419 $421 $0 $0 $0 $0 $1,260 0.9%

Total Variable $17,818 $18,968 $23,288 $26,869 $0 $0 $0 $0 $86,944 65%

Contribution Margin $9,280 $9,411 $13,716 $14,309 $0 $0 $0 $0 $46,717 35%

Period Costs:

Depreciation $5,364 $5,977 $2,764 $3,167 $0 $0 $0 $0 $17,271 12.9%

R&D $1,000 $1,000 $0 $0 $0 $0 $0 $0 $2,000 1.5%

Promotions $1,250 $1,250 $1,250 $1,250 $0 $0 $0 $0 $5,000 3.7%

Sales $1,400 $1,400 $1,100 $1,100 $0 $0 $0 $0 $5,000 3.7%

Admin $291 $305 $397 $442 $0 $0 $0 $0 $1,435 1.1%

Total Period $9,305 $9,932 $5,511 $5,959 $0 $0 $0 $0 $30,706 23%

Net Margin ($24) ($521) $8,205 $8,351 $0 $0 $0 $0 $16,011 12%

Other $6,606 4.9%

Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred
to produce the product that was sold. Inventory Carry Cost: the cost to carry unsold EBIT $9,405 7%

goods in inventory. Depreciation: Calculated on straight-line 15-year depreciation of Short Term Interest $3,259 2.4%
plant value. R&D Costs: R&D department expenditures for each product. Admin:
Long Term Interest $13,446 10.1%
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: Taxes ($2,555) -1.9%
Charges not included in other categories such as Fees, Write Offs, and TQM. The fees Profit Sharing $0 0%
include money paid to investment bankers and brokerage firms to issue new stocks or
Net Profit ($4,745) -3.6%
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 Variables Margins
money on the liquidation of capacity or inventory. EBIT: Earnings Before Interest and
40%
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 30%
contract. Net Profit: EBIT minus interest, taxes, and profit sharing.

20%

10%

0%

Cent Clack Coat Creak NA

NA NA NA

COOKIE SETTINGS
 Profit History Market Share History
$15,000 40%

$10,000
30%

$5,000

20%

$0

10%
$-5,000

$-10,000 0%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROE History Asset Turnover History

20% 1.5

1.3

10%

1.0

0% 0.8

0.5

-10%

0.3

-20% 0.0

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROS History ROA History

10% 10%

7.5%

5%

5%

0% 2.5%

0%

-5%

-2.5%

-10% -5%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Digby C59559 Dec. 31 2027

Balance Sheet
ASSETS 2027 2026
DEFINITIONS: Common Size: The common
Common Size
size column simply represents each item as a
percentage of total assets for that year. Cash: Your Cash $21,610 9% $26,971

end-of-year cash position. Accounts Accounts Receivable $13,449 5.6% $10,560

Receivable: Reflects the lag between delivery and
Inventory $14,540 6.1% $14,537
payment of your products. Inventories: The
current value of your inventory across all products. A Total Current Assets $49,599 20.7% $52,068

zero indicates your company stocked out. Unmet Plant & Equipment $279,000 116.7% $226,530
demand would, of course, fall to your competitors.
Accumulated Depreciation ($89,538) -37.5% ($70,938)
Plant & Equipment: The current value of your
plant. Accum Deprec: The total accumulated Total Fixed Assets $189,462 79.3% $155,592

depreciation from your plant. Accts Payable: Total assets $239,061 100% $207,661
What the company currently owes suppliers for
LIABILITIES & OWNERS' EQUITY
materials and services. Current Debt: The debt
the company is obligated to pay during the next year Accounts Payable $8,395 3.5% $7,452
of operations. It includes emergency loans used to
Current Debt $24,566 10.3% $35,380
keep your company solvent should you run out of
Long Term Debt $114,959 48.1% $86,496
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Total Liabilities $147,920 61.9% $129,328
this represents the total value of your bonds.
Common Stock $52,832 22.1% $36,222
Common Stock: The amount of capital invested
by shareholders in the company. Retained Retained Earnings $38,309 16% $42,110

Earnings: The profits that the company chose to Total Equity $91,141 38.1% $78,332
keep instead of paying to shareholders as dividends.
Total Liab. & O. Equity $239,061 100% $207,661

Cash Flow Statement

Cash Flows from Operating Activities: 2027 2026
The Cash Flow Statement examines what happened in the Cash
Net income (Loss) ($3,801) ($3,784)
Account during the year. Cash injections appear as positive numbers and
cash withdrawals as negative numbers. The Cash Flow Statement is an Depreciation $18,600 $13,762

excellent tool for diagnosing emergency loans. When negative cash flows Extraordinary gain/losses/writeoffs $0 $0
exceed positives, you are forced to seek emergency funding. For example,
Accounts Payable $943 $723
if sales are bad and you find yourself carrying an abundance of excess
inventory, the report would show the increase in inventory as a huge Inventory ($3) ($6,993)

negative cash flow. Too much unexpected inventory could outstrip your Accounts Receivable ($2,888) $34
inflows, exhaust your starting cash and force you to beg for money to
Net cash from operations $12,850 $3,743
keep your company afloat.
Cash Flows from Investing Activities:

Plant Improvements ($52,470) ($61,230)

Cash Flow Summary Digby
Cash Flows from Financing Activities:
50k
Dividends paid $0 $0

Sales of Common Stock $16,610 $17,688

25k
Purchase of Common Stock $0 $0

Cash from long term debt $28,463 $38,664

0 Retirement of long term debt $0 ($11,300)

Change in current debt (net) ($10,814) $13,609

-25k Net cash from financing activities $34,259 $58,661

Net change in cash position ($5,361) $1,174

Closing cash position $21,610 $26,971

-50k

-75k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Digby C59559 Dec. 31 2027

2027 Income Statement

Product Name Deft Dim Don Drum Daft Deal Na Na Total Common Size

Sales $13,928 $32,269 $35,018 $28,512 $31,327 $22,572 $0 $0 $163,626 100%

Variable Costs:

Direct Labor $1,854 $6,351 $7,985 $5,466 $8,411 $4,559 $0 $0 $34,626 21.2%

Direct Material $5,154 $14,415 $14,489 $10,556 $13,364 $9,530 $0 $0 $67,509 41.3%

Inventory Carry $188 $226 $546 $518 $249 $19 $0 $0 $1,745 1.1%

Total Variable $7,197 $20,992 $23,019 $16,540 $22,024 $14,108 $0 $0 $103,880 63.5%

Contribution Margin $6,731 $11,278 $11,998 $11,972 $9,304 $8,463 $0 $0 $59,746 36.5%

Period Costs:

Depreciation $4,134 $5,204 $2,153 $2,040 $2,614 $2,454 $0 $0 $18,600 11.4%

R&D $983 $0 $973 $915 $995 $114 $0 $0 $3,980 2.4%

Promotions $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $0 $0 $6,840 4.2%

Sales $1,000 $1,000 $1,900 $2,200 $900 $900 $0 $0 $7,900 4.8%

Admin $162 $375 $407 $331 $364 $262 $0 $0 $1,902 1.2%

Total Period $7,419 $7,719 $6,574 $6,626 $6,014 $4,870 $0 $0 $39,222 24%

Net Margin ($687) $3,558 $5,425 $5,346 $3,290 $3,593 $0 $0 $20,524 12.5%

Other $8,254 5%
Definitions: Sales: Unit sales times list price. Direct Labor: Labor costs incurred
to produce the product that was sold. Inventory Carry Cost: the cost to carry unsold EBIT $12,270 7.5%

goods in inventory. Depreciation: Calculated on straight-line 15-year depreciation of Short Term Interest $3,071 1.9%
plant value. R&D Costs: R&D department expenditures for each product. Admin:
Long Term Interest $15,047 9.2%
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: Taxes ($2,047) -1.3%

Charges not included in other categories such as Fees, Write Offs, and TQM. The fees Profit Sharing $0 0%
include money paid to investment bankers and brokerage firms to issue new stocks or
Net Profit ($3,801) -2.3%
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 Variables Margins
money on the liquidation of capacity or inventory. EBIT: Earnings Before Interest and
60%
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 50%
upon a 35% tax rate. Profit Sharing: Profits shared with employees under the labor
contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
40%

30%

20%

10%

0%

Deft Dim Don Drum Daft

Deal NA NA

COOKIE SETTINGS
 Profit History Market Share History
$15,000 30%

25%

$10,000

20%

$5,000 15%

10%

$0

5%

$-5,000 0%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROE History Asset Turnover History

25% 1.5

20%
1.3

15%
1.0

10%
0.8
5%

0.5
0%

0.3
-5%

-10% 0.0

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

ROS History ROA History

12.5% 12.5%

10%
10%

7.5%
7.5%

5%
5%
2.5%

2.5%
0%

0%
-2.5%

-5% -2.5%

2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025
2026 2027 2026 2027

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
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