1. Determine Mccoy's Earning per share (EPS)?

2. Determine an offer price for Hudson?

Exhibit 4 Condensed Income Statement and Stockholder Information, Hudson Inc., 2010-2014 ($ millions except per-share data; year-end December 31) 2010 2011 2012 2013 2014 Operations Net sales Cost of goods sold. Selling, general & administrative expenses Depreciation expense Interest expense Othr deductios Incme before taxes Taxs Net income $485.0 $491.0 $548.0 $537.0 $553.0 326.0 331.0 359.0 372.0 379.0 115.0 107.0 111.0 23.0 119.0 123.0 21.0 20.0 4.0 2.7 25.3 24.0 23.0 7.0 .5 18.5 8.0 8.0 8.0 1.3 29,7 1.8 24.2 1.8 20.2 _8:4 $10.1 6.0 $19.3 _13.1 $16.6 8,8 $15.4 6.7 $13.5 Percentage of Sales Cost of goods sold Selling, general & administrative xpenses Income before taxes 67 67 67 68 69 22 23 21 22 4.4 22 5.2 3.7 3.8 5.5 Stockholder Information Earnings per share Dividends per share Book value per share Market price Price/earnings ratio. $3.31 $1.73 1.60 $2.84 $2.64 1.60 50.20 25-33 $2.31 1.60 1,60 49.31 29-41 10-14 1.60 53.08 45.66 48.03. 33-46 35-48 23-32 10-14 10-14 21-28 9-13 *The ratio of income taxes to income before taxes had been reduced primarily by the investment tax credit arnd by the inclusin in income of equity in net income of partially owned foreign companies, the taxes which are provided for in the accounts.of such companies and 'not in the tax provision of Hudson. It was estimated that the average tax rate would be 40% in uture years. McCoy Industries. Exhibit 5 Baance Sheet at December 31, 2014, Hudson Inc. ($ mllions) Assets Cash $ 10 Accounts receivable Inventories Other Current Assets Net plant and equipment Other Total assets 80 120 10 220 220 30 $470 Liabilities and Net Worth Accounts payable Other $ 20 20 Current liabilities 40 Long-term debt (including current portion) Common stock Total liabilities and net worth 120 310 $470 Coy Industries Exhibit 1 Condensed Income Statement and Stockholder Information, McCoy Industries 2010 -2014 ($ millions except per-share data) 2010 2011 2013 2012 2014 Operations Net Sales Cost of goods sold. Depreciation Selling and administrative expense Interest expense Income befor taxes $ 1,980 1,410 - 40 230 $ 2,120 1,540 $2,060 1,450 50 250 $ 2,080 $2,260 1,650 40 290 40 240 1,610 40 40. 290 30 220 290 20 290 150 140 30 110 290 Income taxes _140 110 110 120 120 50 Income after tax Preferred dividend Net income applicable to common stock 150 60 10 $ 140 $ 101 $ 131 $ 11 51 Common Stock Earnings per share before extraordinary items Dividends per share Book value per share Market price Price/earnings ratio $ 3.32 $ 3.07 $ 2.33 $ 2.75 $ 1.21 1.20 1.25 17.26 36-57 12-19 1.40 1.40 19.68 1.40 16.43 18.28 22-50 18.25 23-59 7-18 22-35 8-13 18-38 15-31 9-22 Exhibit 2 Balance Sheet at December 31, 2014, McCoy Industries ($millions) Assets Cash Account receivabl Inventories Othet 90 490 570 _20 Current assets Net plant and equipment Other Total Assets Liabilities and Net Worth 1170 470 80 $1720 Accounts payable Accrued taxes 300 30 50 Long-term debt due Current liabilities Long-term debt Deferred taxes 380 340 40 Preferred stock 110 850 $1720 Common equity (42,186,910 shares outstanding) Total liabilities and net worth *Maturities of long-term debt were $55 million, $60 million, $40 million, $20 million, and $20 million in the years 2015 through 2019, respectively. Exhibit 3 Sumimary of McCoy Industries Recent Acquisitions ($ millions) Year Before Acquisition by McCoy Company Fisher Mfg. Grey Tools Duraline, Inc. Sales Net Income Book Value Price Paid Payment Form Convertible Prefrred 14.0 (0.4) 9.0 220 150 206 160 49 125 Cash 100 44 146 Common Stock McCoy Industries Exhibit 9 Hand Tools Companies: Historical Acquisition Data Target Announcement Date Acquirer Revenue ($millions) growih rate Four year Enterprise Value to Price to Name Revenue EBITDA Earnings EBIT Book Jan, 2015 Signet Co. Lennox 265 28.4% .63x 9.7x 16.4x 19.3x 1.37x Nov. 2014 Eagle Inc, Redstone 156 18.6% 55x 15.9x 7.8x 17,4x 1.10x Aug. 2014 Midwest Ltd. Klein Corp. 8,5% 119 .81x 7.3x 14.8x 26,7x 0.83x Oct, 2013 JKI Samuel 401 24.1% .85x 8.9x 16:1x 22.2x 1.30x Apr. 2013 Milwaukee Butler r 217 14.8% 67x 8,2x 15.3x 20.1x 1,25x May 2012 Gravco Watson Inc. 180 21.3% 9,2x .79x 13.2x 18,9x 0.97x Exhibit 7 Estimated Distribution of Hudson Inc. Stock Shares Supporting McCoy Concord Holdings Owned by McCoy 1,615,000 _290,000 1,905,000 Shars Supporting Vulcan Hudson family and management Owned by Vlcan Group 1,170,000 _140,000 1,310,000. Shares owned by speculators 500,000-1,000,000 1.625,000-2,125,000 5,840,000. Shares unaccounted for Total Hudson shaes outstnding Note: Hudson's stock is composed of common shares only. Exhibit 8 Five-Year Forecast of McCoy Industris Earnings, Excluding Hudson Inc., 2015-2019 2015 2017 2016 $119 2018 2019 Nt income available to common shareholders ($ millions) Number of shares outstanding (miliions) Primary earnings per share $110 $128 42.1 $3.04 $138 $150 42.1 $3.56 42.1 42.1 42.1 $2.61 $2.83 $3.27 Note: Forecasts are based on a consensus of stock market arialysts" estimates. Exhibit 4 Condensed Income Statement and Stockholder Information, Hudson Inc., 2010-2014 ($ millions except per-share data; year-end December 31) 2010 2011 2012 2013 2014 Operations Net sales Cost of goods sold. Selling, general & administrative expenses Depreciation expense Interest expense Othr deductios Incme before taxes Taxs Net income $485.0 $491.0 $548.0 $537.0 $553.0 326.0 331.0 359.0 372.0 379.0 115.0 107.0 111.0 23.0 119.0 123.0 21.0 20.0 4.0 2.7 25.3 24.0 23.0 7.0 .5 18.5 8.0 8.0 8.0 1.3 29,7 1.8 24.2 1.8 20.2 _8:4 $10.1 6.0 $19.3 _13.1 $16.6 8,8 $15.4 6.7 $13.5 Percentage of Sales Cost of goods sold Selling, general & administrative xpenses Income before taxes 67 67 67 68 69 22 23 21 22 4.4 22 5.2 3.7 3.8 5.5 Stockholder Information Earnings per share Dividends per share Book value per share Market price Price/earnings ratio. $3.31 $1.73 1.60 $2.84 $2.64 1.60 50.20 25-33 $2.31 1.60 1,60 49.31 29-41 10-14 1.60 53.08 45.66 48.03. 33-46 35-48 23-32 10-14 10-14 21-28 9-13 *The ratio of income taxes to income before taxes had been reduced primarily by the investment tax credit arnd by the inclusin in income of equity in net income of partially owned foreign companies, the taxes which are provided for in the accounts.of such companies and 'not in the tax provision of Hudson. It was estimated that the average tax rate would be 40% in uture years. McCoy Industries. Exhibit 5 Baance Sheet at December 31, 2014, Hudson Inc. ($ mllions) Assets Cash $ 10 Accounts receivable Inventories Other Current Assets Net plant and equipment Other Total assets 80 120 10 220 220 30 $470 Liabilities and Net Worth Accounts payable Other $ 20 20 Current liabilities 40 Long-term debt (including current portion) Common stock Total liabilities and net worth 120 310 $470 Coy Industries Exhibit 1 Condensed Income Statement and Stockholder Information, McCoy Industries 2010 -2014 ($ millions except per-share data) 2010 2011 2013 2012 2014 Operations Net Sales Cost of goods sold. Depreciation Selling and administrative expense Interest expense Income befor taxes $ 1,980 1,410 - 40 230 $ 2,120 1,540 $2,060 1,450 50 250 $ 2,080 $2,260 1,650 40 290 40 240 1,610 40 40. 290 30 220 290 20 290 150 140 30 110 290 Income taxes _140 110 110 120 120 50 Income after tax Preferred dividend Net income applicable to common stock 150 60 10 $ 140 $ 101 $ 131 $ 11 51 Common Stock Earnings per share before extraordinary items Dividends per share Book value per share Market price Price/earnings ratio $ 3.32 $ 3.07 $ 2.33 $ 2.75 $ 1.21 1.20 1.25 17.26 36-57 12-19 1.40 1.40 19.68 1.40 16.43 18.28 22-50 18.25 23-59 7-18 22-35 8-13 18-38 15-31 9-22 Exhibit 2 Balance Sheet at December 31, 2014, McCoy Industries ($millions) Assets Cash Account receivabl Inventories Othet 90 490 570 _20 Current assets Net plant and equipment Other Total Assets Liabilities and Net Worth 1170 470 80 $1720 Accounts payable Accrued taxes 300 30 50 Long-term debt due Current liabilities Long-term debt Deferred taxes 380 340 40 Preferred stock 110 850 $1720 Common equity (42,186,910 shares outstanding) Total liabilities and net worth *Maturities of long-term debt were $55 million, $60 million, $40 million, $20 million, and $20 million in the years 2015 through 2019, respectively. Exhibit 3 Sumimary of McCoy Industries Recent Acquisitions ($ millions) Year Before Acquisition by McCoy Company Fisher Mfg. Grey Tools Duraline, Inc. Sales Net Income Book Value Price Paid Payment Form Convertible Prefrred 14.0 (0.4) 9.0 220 150 206 160 49 125 Cash 100 44 146 Common Stock McCoy Industries Exhibit 9 Hand Tools Companies: Historical Acquisition Data Target Announcement Date Acquirer Revenue ($millions) growih rate Four year Enterprise Value to Price to Name Revenue EBITDA Earnings EBIT Book Jan, 2015 Signet Co. Lennox 265 28.4% .63x 9.7x 16.4x 19.3x 1.37x Nov. 2014 Eagle Inc, Redstone 156 18.6% 55x 15.9x 7.8x 17,4x 1.10x Aug. 2014 Midwest Ltd. Klein Corp. 8,5% 119 .81x 7.3x 14.8x 26,7x 0.83x Oct, 2013 JKI Samuel 401 24.1% .85x 8.9x 16:1x 22.2x 1.30x Apr. 2013 Milwaukee Butler r 217 14.8% 67x 8,2x 15.3x 20.1x 1,25x May 2012 Gravco Watson Inc. 180 21.3% 9,2x .79x 13.2x 18,9x 0.97x Exhibit 7 Estimated Distribution of Hudson Inc. Stock Shares Supporting McCoy Concord Holdings Owned by McCoy 1,615,000 _290,000 1,905,000 Shars Supporting Vulcan Hudson family and management Owned by Vlcan Group 1,170,000 _140,000 1,310,000. Shares owned by speculators 500,000-1,000,000 1.625,000-2,125,000 5,840,000. Shares unaccounted for Total Hudson shaes outstnding Note: Hudson's stock is composed of common shares only. Exhibit 8 Five-Year Forecast of McCoy Industris Earnings, Excluding Hudson Inc., 2015-2019 2015 2017 2016 $119 2018 2019 Nt income available to common shareholders ($ millions) Number of shares outstanding (miliions) Primary earnings per share $110 $128 42.1 $3.04 $138 $150 42.1 $3.56 42.1 42.1 42.1 $2.61 $2.83 $3.27 Note: Forecasts are based on a consensus of stock market arialysts" estimates