Looking forward to next year, if Baldwin?s current cash balance is $17,334 (000) and cash flows from operations next period are unchanged from this period and Baldwin takes ONLY the following actions relating to cash flows from investing and financing activities: Issues 100 (000) shares of stock at the current stock price Issues $200 (000) of long-term debt Pays $40 (000) in dividends Which of the following activities will expose Baldwin to the most risk of needing an emergency loan?

Select: 1

Retires $20,000 (000) in long-term debt

Sells $5,000 (000) of their Long-term assets

Purchases assets at a cost of $15,000 (000)

Liquidates the entire inventory

Page 1 Front Page Page 2 Stocks & Bonds Page 3 Financial Summary Page 4 Production Analysis Annual Report Andrews Page 5 Thrift Segment Analysis Page 6 Core Segment Analysis Page 7 Nano Segment Analysis Page 8 Elite Segment Analysis Page 9 Market Share Page 10 Perceptual Map Page 11 HR/TQM Report Annual Report Baldwin Annual Report Chester Annual Report Digby PRINT Top " Round: 0 Student: Philip Carnavas Dec. 31, 2015 Andrews Philip Carnavas Baldwin Chester Digby Philip Carnavas Selected Financial Statistics Andrews Baldwin Chester Digby 12.3% 9.0% 5.7% 8.6% 1.32 1.28 0.91 0.94 16.3% 11.5% 5.2% 8.1% 1.7 1.9 2.7 2.4 28.3% 21.8% 13.8% 19.1% $0 $0 $0 $0 Sales $163,508,343 $119,634,264 $131,743,001 $118,743,986 EBIT $36,517,609 $21,078,734 $21,799,379 $23,725,791 Profits $20,172,293 $10,722,727 $7,539,554 $10,177,267 $0 $0 $0 $0 7.8% 10.3% 9.6% 11.2% 34.1% 32.9% 33.8% 38.8% ROS Asset Turnover ROA Leverage (Assets/Equity) ROE Emergency Loan Cumulative Profit SG&A / Sales Contrib. Margin % COMP-XM INQUIRER Page 1 Top Round: 0 Stocks & Bonds Philip Carnavas December 31 , 2015 Stock Market Summary Shares MarketCap ($M) Book Value $95.61 $15.14 2,051,119 $196 $34.74 $9.83 Baldwin $54.93 $6.27 1,909,810 $105 $25.72 Chester $44.71 $0.94 2,566,155 $115 Digby $53.14 $10.88 2,173,342 $115 Company Close Change Andrews Yield P/E $6.50 6.8% 9.7 $5.61 $2.35 4.3% 9.8 $21.32 $2.94 $4.96 11.1% 15.2 $24.47 $4.68 $2.89 11.3 Bond Market Summary EPS Dividend 5.4% Company Series# Face Yield Close$ S&P 13.5S2017 $11,300,000 12.9% 104.46 BB 11.2S2022 $8,837,000 11.0% 101.42 BB 11.9S2023 $7,072,000 11.3% 105.17 BB 13.5S2017 $11,300,000 13.1% 103.40 B 11.1S2024 $2,505,867 11.3% 97.83 B 11.2S2025 $5,671,177 11.4% 98.27 B 13.5S2017 $11,300,000 13.4% 101.00 C 11.3S2022 $10,417,600 12.2% 92.90 C 12.5S2023 $14,665,611 12.7% 98.07 C 12.5S2024 $7,975,862 12.8% 97.94 C 12.5S2025 $9,473,322 12.8% 97.82 C 13.5S2017 $11,300,000 13.3% 101.51 CC 11.2S2022 $8,637,463 11.9% 93.73 CC 12.4S2023 $5,827,834 12.5% 99.03 CC 11.9S2025 $15,600,633 12.4% 96.14 CC Andrews Baldwin Chester Digby Next Year's Prime Rate 8.00% COMP-XM INQUIRER Page 2 Top Financial Summary Cash Flow Statement Survey Round: 0 December 31, 2015 Philip Carnavas Andrews Baldwin Chester Digby $20,172 $10,723 $7,540 $10,177 $6,455 $5,625 $9,527 $8,293 $0 $0 $0 $0 $735 $1,216 $1,457 $608 ($11,210) ($2,062) ($2,615) $1,388 $15 ($1,778) ($1,043) ($946) $16,168 $13,725 $14,864 $19,521 ($3,520) ($6,500) ($15,800) ($26,642) ($13,332) ($4,479) ($12,733) ($6,270) $0 $0 $0 $0 ($1,935) ($1,833) $0 $0 Cash from long term debt issued $0 $5,671 $9,473 $15,601 Early retirement of long term debt $0 $0 $0 $0 ($5,725) ($10,493) ($22,180) ($15,869) $8,184 $12,110 $21,713 $19,612 Cash flows from operating activities Net Income (Loss) Adjustment for non-cash items: Depreciation Extraordinary gains/losses/writeoffs Changes in current assets and liabilities: Accounts payable Inventory Accounts receivable Net cash from operations Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Dividends paid Sales of common stock Purchase of common stock Retirement of current debt Cash from current debt borrowing Cash from emergency loan $0 $0 $0 $0 ($12,808) $977 ($3,727) $13,073 ($160) $8,201 ($4,662) $5,952 Andrews Baldwin Chester Digby Cash $32,014 $17,334 $32,316 $32,550 Accounts Receivable $13,439 $9,833 $10,828 $9,760 Inventory $25,825 $17,117 $10,293 $6,407 Total Current Assets $71,278 $44,284 $53,437 $48,717 Plant and equipment $96,824 $84,380 $142,900 $124,400 ($44,409) ($35,023) ($51,265) ($47,289) $52,415 $49,357 $91,635 $77,111 $123,693 $93,641 $145,072 $125,828 $9,516 $6,601 $7,283 $5,796 Current Debt $15,717 $18,436 $29,246 $25,494 Long Term Debt $27,209 $19,477 $53,832 $41,366 Total Liabilities $52,443 $44,514 $90,362 $72,657 Common Stock $12,081 $9,100 $24,679 $14,385 Retained Earnings $59,170 $40,027 $30,031 $38,786 Total Equity $71,250 $49,127 $54,710 $53,171 Net cash from financing activities Net change in cash position Balance Sheet Survey Accumulated Depreciation Total Fixed Assets Total Assets Accounts Payable Total Liabilities & Owners' Equity $123,693 $93,641 $145,072 $125,828 Income Statement Survey Andrews Baldwin Chester Digby Sales $163,508 $119,634 $131,743 $118,744 Variable Costs (Labor, Material, Carry) $107,672 $80,302 $87,231 $72,680 $6,455 $5,625 $9,527 $8,293 $12,835 $12,317 $12,712 $13,265 $29 $311 $474 $780 $36,518 $21,079 $21,799 $23,726 $4,850 $4,246 $9,963 $7,749 $11,084 $5,892 $4,143 $5,592 $412 $219 $154 $208 $20,172 $10,723 $7,540 $10,177 Depreciation SGA (R&D, Promo, Sales, Admin) Other (Fees, Writeoffs, TQM, Bonuses) EBIT Interest (Short term, Long term) Taxes Profit Sharing Net Profit COMP-XM INQUIRER Page 3 Top Production Analysis Philip Carnavas Production Information Round: 0 December 31, 2015 Unit Primary Inve Age Segmen Units n Revisio Dec. MTB Pfmn Size Name t Sold tory n Date 31 F Coord Coord 2nd Shift Contr & Materia Labor . OverPrice l Cost Cost Marg. time Auto matio n Next Capacit Pla Roun y Next Uti d Round 47 12/10/2 2.2 22000 014 7.9 12.2 $32.00 $11.60 $8.96 35% 50% 5.0 1,200 14 % Nano 922 264 11/9/20 1.1 24000 15 10.6 7.6 $40.00 $16.13 $10.29 33% 42% 4.0 728 14 % Ace Elite 772 216 11/14/2 1.1 26000 015 12.7 9.6 $42.00 $16.81 $9.80 36% 22% 4.0 714 12 % Awe Thrift 1,371 758 4/13/20 5.1 20000 13 5.2 $8.13 $7.90 33% 90% 6.0 1,130 18 % Bit Nano 1,128 86 11/12/2 2.2 23000 015 8.9 9.4 $30.00 $13.98 $9.50 25% 93% 5.0 570 19 % Bolt Elite 436 145 12/13/2 1.9 25000 015 12.1 0% 5.0 700 64% Buzz Nano 960 262 12/22/2 1.0 23000 015 10.5 7.6 $37.00 $15.79 $8.65 33% 33% 5.0 850 13 % Brat Elite 865 240 12/5/20 1.0 25000 15 12.5 9.6 $39.00 $16.39 $8.14 36% 13% 5.0 950 11 % City Thrift 1,340 236 12/11/2 2.8 17000 015 6.3 13.8 $19.00 $8.40 $4.03 41% 33% 8.0 1,050 13 % Cozy Thrift 1,674 284 12/19/2 2.6 17000 015 6.5 13.6 $19.00 $8.61 $4.22 37% 57% 8.0 1,250 15 % Creak Core 1,290 148 12/3/20 1.2 18000 15 8.9 10.8 $27.00 $11.68 $7.38 30% 93% 6.0 900 19 % Crim p Core 1,417 11/19/2 1.2 20000 015 9.6 11.3 $28.00 $12.39 $7.38 30% 93% 6.0 950 19 % Ark Core Ant 1,830 83 14.9 $26.00 10.2 $38.00 $15.87 $7.73 41% Dim Thrift 1,726 Dome Core 1,881 22 6/27/20 3.5 14000 16 5.5 14.6 $20.00 $6.65 $2.82 51% 100% 9.0 1,000 19 % 14 11/30/2 1.2 16000 015 8.1 12.0 $22.00 $10.01 $5.64 31% 100% 7.0 1,150 19 % 8.3 $31.00 $13.64 $6.24 36% 25% 6.0 750 12 % 5.0 800 10 % Dug Nano 699 162 12/22/2 1.1 18000 015 10.0 Drat Elite 604 134 11/5/20 1.1 20000 15 12.0 10.1 $35.00 $14.36 $7.09 38% COMP-XM INQUIRER 8% Page 4 Top Thrift Market Segment Analysis Philip Carnavas Thrift Statistics Total Industry Unit Demand 5,104 Actual Industry Unit Sales 5,104 Segment % of Total Industry 27.0% Next Year's Segment Growth Rate 11.0% Round: 0 December 31, 2015 Thrift Customer Buying Criteria Expectations Importance 1. Price 2. Reliability 3. Ideal Position 4. Age $14.00 - 26.00 55% MTBF 14000-20000 20% Pfmn 6.0 Size 14.1 15% Ideal Age = 3.0 10% Perceptual Map for Thrift Segment Top Products in Thrift Segment Units Sold Revisio Market to n Stock Pfmn Size Name Share Seg Date Out Coord Coord Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y Cozy 28% 1,404 12/19/2 015 6.5 13.6 $19.00 17000 2.56 $1,050 63% $800 62% 30 City 23% 1,186 12/11/2 015 6.3 13.8 $19.00 17000 2.76 $1,050 63% $1,000 62% 31 Dim 20% 1,038 6/27/20 16 5.5 14.6 $20.00 14000 3.46 $950 52% $1,000 63% 18 Awe 16% 841 4/13/20 13 5.2 14.9 $26.00 20000 5.11 $1,200 79% $2,000 74% 13 Dome 10% 515 11/30/2 015 8.1 12.0 $22.00 16000 1.17 6 Creak 1% 72 12/3/20 15 8.9 10.8 $27.00 18000 1.21 $1,050 62% $600 62% 0 Crim p 1% 48 11/19/2 015 9.6 11.3 $28.00 20000 1.25 $1,050 63% $600 62% 0 $950 52% $1,000 63% COMP-XM INQUIRER Page 5 Top Core Market Segment Analysis Philip Carnavas Round: 0 December 31, 2015 Core Statistics Total Industry Unit Demand 6,681 Actual Industry Unit Sales 6,681 Segment % of Total Industry 35.3% Next Year's Segment Growth Rate 10.0% Core Customer Buying Criteria Expectations Importance 1. Price $20.00 - 32.00 46% 2. Age Ideal Age = 2.0 20% MTBF 16000-22000 18% Pfmn 8.1 Size 12.0 16% 3. Reliability 4. Ideal Position Perceptual Map for Core Segment Top Products in Core Segment Units Sold Revisio Market to n Stock Pfmn Size Name Share Seg Date Out Coord Coord Dome 20% 1,366 11/30/2 015 8.1 Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y 12.0 $22.00 16000 1.17 $950 52% $1,000 62% 33 Ark 18% 1,228 12/10/2 014 7.9 12.2 $32.00 22000 2.24 $1,200 80% $1,000 85% 27 Crim p 15% 988 11/19/2 015 9.6 11.3 $28.00 20000 1.25 $1,050 63% $600 58% 18 Creak 15% 980 12/3/20 15 8.9 10.8 $27.00 18000 1.21 $1,050 62% $600 58% 18 Dim 10% 688 6/27/20 16 5.5 14.6 $20.00 14000 3.46 $950 52% $1,000 62% 9 Awe 8% 530 4/13/20 13 5.2 14.9 $26.00 20000 5.11 $1,200 79% $2,000 85% 5 Bit 6% 414 11/12/2 015 8.9 9.4 $30.00 23000 2.19 $1,100 71% $400 22% 7 Cozy 4% 270 12/19/2 015 6.5 13.6 $19.00 17000 2.56 $1,050 63% $800 58% 27 City 2% 154 12/11/2 015 6.3 13.8 $19.00 17000 2.76 $1,050 63% $1,000 58% 26 Dug 1% 54 12/22/2 015 10.0 8.3 $31.00 18000 1.08 $950 53% $600 62% 0 Drat 0% 8 11/5/20 15 12.0 10.1 $35.00 20000 1.12 $950 52% $1,300 62% 0 COMP-XM INQUIRER Page 6 Top Nano Market Segment Analysis Philip Carnavas Nano Statistics Total Industry Unit Demand 3,651 Actual Industry Unit Sales 3,651 Segment % of Total Industry 19.3% Next Year's Segment Growth Rate 14.0% Nano Customer Buying Criteria Round: 0 December 31, 2015 Perceptual Map for Nano Segment Expectations 1. Ideal Position Importance Pfmn 10.0 Size 8.1 35% 2. Price $28.00 - 40.00 27% 3. Age Ideal Age = 1.0 20% MTBF 18000-24000 18% 4. Reliability Top Products in Nano Segment Unit s Sold Revisio Market to n Stock Pfmn Size Name Share Seg Date Out Coord Coord Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y Buzz 18% 660 12/22/2 015 10.5 7.6 $37.00 23000 1.04 $1,100 70% $1,200 81% 44 Ant 17% 631 11/9/20 15 10.6 7.6 $40.00 24000 1.12 $1,200 78% $1,000 82% 42 Dug 13% 464 12/22/2 015 10.0 8.3 $31.00 18000 1.08 $950 53% $600 66% 37 Bit 12% 431 11/12/2 015 8.9 9.4 $30.00 23000 2.19 $1,100 71% $400 81% 43 Ark 8% 296 12/10/2 014 7.9 12.2 $32.00 22000 2.24 $1,200 80% $1,000 82% 10 Brat 7% 260 12/5/20 15 12.5 9.6 $39.00 25000 1.05 $1,100 69% $1,200 81% 10 Crim p 7% 240 11/19/2 015 9.6 11.3 $28.00 20000 1.25 $1,050 63% $600 28% 20 Drat 6% 236 11/5/20 15 12.0 10.1 $35.00 20000 1.12 $950 52% $1,300 66% 12 Creak 5% 183 12/3/20 15 8.9 10.8 $27.00 18000 1.21 $1,050 62% $600 28% 15 Ace 4% 161 11/14/2 015 12.7 9.6 $42.00 26000 1.09 $1,200 77% $1,000 82% 4 Bolt 2% 12/13/2 015 12.1 10.2 $38.00 25000 1.91 $1,100 72% 13 90 COMP-XM INQUIRER $400 81% Page 7 Top Elite Market Segment Analysis Philip Carnavas Elite Statistics Total Industry Unit Demand 3,479 Actual Industry Unit Sales 3,479 Segment % of Total Industry 18.4% Next Year's Segment Growth Rate 16.0% Round: 0 December 31, 2015 Elite Customer Buying Criteria Expectations Importance 1. Age Ideal Age = 0.0 34% 2. Price $30.00 - 42.00 24% 3. Ideal Position Pfmn 12.0 Size 10.1 22% 4. Reliability MTBF 20000-26000 20% Perceptual Map for Elite Segment Top Products in Elite Segment Unit s Sold Revisio Market to n Stock Pfmn Size Name Share Seg Date Out Coord Coord Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y Ace 18% 612 11/14/2 015 12.7 9.6 $42.00 26000 1.09 $1,200 77% $1,000 87% 39 Brat 17% 605 12/5/20 15 12.5 9.6 $39.00 25000 1.05 $1,100 69% $1,200 81% 40 Drat 10% 361 11/5/20 15 12.0 10.1 $35.00 20000 1.12 25 Bolt 10% 346 12/13/2 015 12.1 10.2 $38.00 25000 1.91 $1,100 72% $400 81% 32 Ark 9% 306 12/10/2 014 7.9 12.2 $32.00 22000 2.24 $1,200 80% $1,000 87% 8 Buzz 9% 300 12/22/2 015 10.5 7.6 $37.00 23000 1.04 $1,100 70% $1,200 81% 11 Ant 8% 291 11/9/20 15 10.6 7.6 $40.00 24000 1.12 $1,200 78% $1,000 87% 11 Bit 8% 282 11/12/2 015 8.9 9.4 $30.00 23000 2.19 $1,100 71% $400 81% 22 Dug 5% 182 12/22/2 015 10.0 8.3 $31.00 18000 1.08 $600 55% 11 $950 52% $1,300 55% $950 53% Crim p 4% 141 11/19/2 015 9.6 11.3 $28.00 20000 1.25 $1,050 63% $600 19% 11 Creak 2% 12/3/20 15 8.9 10.8 $27.00 18000 1.21 $1,050 62% $600 19% 5 54 COMP-XM INQUIRER Page 8 Top Market Share Report Philip Carnavas Actual Market Share in Units Thrif Core Nano Elite t Total Industry Unit Sales 5,104 6,681 3,651 3,479 18,914 % of Market 27.0 35.3 19.3 18.4 % % % % 100.0 % Ark 18.4 8.1% 8.8% % 9.7% Ant 17.3 8.4% % 4.9% 17.6 % 4.1% Ace 4.4% Awe 16.5 7.9% % Total 16.5 26.3 29.8 34.8 7.3% 25.9% Round: 0 December 31, 2015 % % % % 11.8 8.1% % 6.0% Bolt 2.5% 9.9% 2.3% Buzz 18.1 8.6% % 5.1% 17.4 % 4.6% 39.5 44.1 % % 17.9% Bit 6.2% Brat 7.1% Total 6.2% City 23.2 2.3% % 7.1% Cozy 27.5 4.0% % 8.8% Creak 1.4% 14.7 5.0% 1.6% % 6.8% Crimp 0.9% 14.8 6.6% 4.0% % 7.5% Total 53.1 35.8 11.6 5.6% % % % 30.2% Dim 20.3 10.3 % % 9.1% Dome 10.1 20.4 % % 9.9% 12.7 5.2% % 3.7% 10.4 % 3.2% 30.4 31.7 19.2 15.6 % % % % 26.0% Dug 0.8% Drat 0.1% 6.5% Total Potential Market Share in Units Thrift Core Nano Elite Total Units Demande d 5,104 6,681 3,651 3,479 18,914 27.0% 35.3% 19.3% 18.4% 100.0% Ark 17.9% 8.1% 8.8% 9.5% Ant 17.3% 8.4% 4.9% Ace 4.4% 17.6% 4.1% % of Market Awe 16.3% 7.8% Total 16.3% 25.7% 29.8% 34.8% 25.6% 6.1% 11.8% 8.1% 5.9% Bolt 2.5% 9.9% 2.3% Buzz 18.1% 8.6% 5.1% Brat 7.1% 17.4% 4.6% 6.0% 39.5% 44.1% 17.9% Bit Total 7.1% City 23.0% 2.3% 7.0% Cozy 27.2% 4.0% 8.7% Creak 1.4% 14.3% 5.0% 1.6% 6.7% Crimp 0.9% 14.4% 6.6% 4.0% 7.4% Total 52.4% 35.0% 11.6% 5.6% 29.8% Dim 20.3% 10.2% 9.1% Dome 11.0% 22.2% 10.8% Dug 0.8% 12.7% 5.2% 3.7% Drat 0.1% 6.5% 10.4% 3.2% Total 31.3% 33.2% 19.2% 15.6% 26.8% COMP-XM INQUIRER Page 9 Top Perceptual Map Philip Carnavas Round: 0 December 31, 2015 Perceptual Map for All Segments Andrews Name Pfmn Size Chester Revised Name Pfmn Size Digby Revised Name Pfmn Size Revised Ark 7.9 12.2 12/10/2014 City 6.3 13.8 12/11/2015 Dim 5.5 14.6 Ant 10.6 7.6 11/9/2015 Cozy 6.5 13.6 12/19/2015 Dome 8.1 12.0 11/30/2015 Ace 12.7 9.6 11/14/2015 Creak 8.9 10.8 12/3/2015 Dug 10.0 8.3 12/22/2015 Awe 5.2 14.9 4/13/2013 Crimp 11.3 11/19/2015 Drat 12.0 10.1 11/5/2015 Baldwin Name Pfmn Size Revised 9.6 6/27/2016 Bit 8.9 9.4 11/12/2015 Bolt 12.1 10.2 12/13/2015 Buzz 10.5 7.6 12/22/2015 Brat 12.5 9.6 12/5/2015 COMP-XM INQUIRER Page 10 Top HR/TQM Report Round: 0 December 31, 2015 Philip Carnavas HUMAN RESOURCES SUMMARY Andrews Baldwin Chester Digby Needed Complement 804 498 539 398 Complement 804 498 539 398 1st Shift Complement 525 371 316 260 2nd Shift Complement 279 127 223 138 0.0% 0.0% 0.0% 0.0% 10.0% 10.0% 8.2% 6.6% 140 115 112 54 0 0 0 0 Overtime% Turnover Rate New Employees Separated Employees Recruiting Spend $0 $0 $2,500 $5,000 0 0 40 80 100.0% 100.0% 109.4% 117.6% Recruiting Cost $140 $115 $390 $324 Separation Cost $0 $0 $0 $0 Training Cost $0 $0 $431 $637 $140 $115 $821 $962 $25.53 $25.53 $25.53 $25.53 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% Training Hours Productivity Index Total HR Admin Cost Labor Contract Next Year Wages Starting Negotiation Position Wages Benefits Profit Sharing Annual Raise Ceiling Negotiation Position Wages Benefits Profit Sharing Annual Raise Adjusted Labor Demands Wages Benefits Profit Sharing Annual Raise Strike Days TQM SUMMARY Andrews Baldwin Chester Digby CPI Systems $0 $0 $0 $0 Vendor/JIT $0 $0 $0 $0 Quality Initiative Training $0 $0 $0 $0 Channel Support Systems $0 $0 $0 $0 Concurrent Engineering $0 $0 $0 $0 UNEP Green Programs $0 $0 $0 $0 Benchmarking $0 $0 $0 $0 Quality Function Deployment Effort $0 $0 $0 $0 CCE/6 Sigma Training $0 $0 $0 $0 GEMI TQEM Sustainability Initiatives $0 $0 $0 $0 Process Mgt Budgets Last Year TQM Budgets Last Year Total Expenditures $0 $0 $0 $0 Material Cost Reduction 0.00% 0.00% 0.00% 0.00% Labor Cost Reduction 0.00% 0.00% 0.00% 0.00% Reduction R&D Cycle Time 0.00% 0.00% 0.00% 0.00% Reduction Admin Costs 0.00% 0.00% 0.00% 0.00% Demand Increase 0.00% 0.00% 0.00% 0.00% Cumulative Impacts COMP-XM INQUIRER Page 11 PRINT Annual Report Top Annual Report Andrews C59559 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 Round: 0 Dec. 31, 2015 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 2015 2014 Common Size Cash $32,014 25.9% $32,174 Accounts Receivable $13,439 10.9% $13,454 Inventory $25,825 20.9% $14,616 57.6% $60,244 $96,824 78.3% $93,304 ($44,409) -35.9% ($37,954) $52,415 42.4% $55,350 $123,693 100.0% $115,594 $9,516 7.7% $8,781 $15,717 12.7% $5,725 Total Current Assets Plant & Equipment Accumulated Depreciation $71,278 Total Fixed Assets Total Assets LIABILITIES & OWNERS' EQUITY Accounts Payable Current Debt Long Term Debt $27,209 Total Liabilities $52,442 22.0% $34,742 42.4% $49,248 Common Stock $12,081 9.8% $12,444 Retained Earnings $59,170 47.8% $53,902 $71,251 57.6% $66,346 $123,693 100.0% $115,594 Total Equity Total Liab. & O. Equity Cash Flow Statement The Cash Flow Statement examines what happened in the Cash Account during the year. Cash injections appear as positive numbers and cash withdrawals as negative numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. When negative cash flows exceed positives, you are forced to seek emergency funding. For example, if sales are bad and you find yourself carrying an abundance of excess inventory, the report would show the increase in inventory as a huge negative cash flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting cash and force you to beg for money to keep your company afloat. Cash Flows from Operating Activities: Net Income (Loss) Depreciation Extraordinary gains/losses/writeoffs Accounts Payable Inventory Accounts Receivable Net cash from operations 2015 2014 $20,172 $21,826 $6,455 $6,220 $0 $0 $735 $2,083 ($11,210 ($3,968) ) $15 ($2,899) $16,168 $23,262 Cash Flows from Investing Activities: Plant Improvements ($3,520) ($1,820) Cash Flows from Financing Activities: Dividends Paid Sales of Common Stock Purchase of Common Stock Cash from long term debt Retirement of long term debt Change in current debt (net) Net cash from financing activities Net change in cash position Closing cash position ($13,332 ($7,948) ) $0 $0 ($1,935) ($541) $0 $0 ($7,533) $0 $9,992 ($2,070) ($12,808 ($10,559 ) ) ($160) $10,883 $32,014 $32,174 Annual Report Page 1 Top Annual Report Andrews C59559 Round: 0 Dec. 31, 2015 2015 Income Statement (Product Name:) Ant Ace 2015 Total Commo n Size Awe Na Na Na Na $58,573 $36,864 $32,434 $35,636 $0 $0 $0 $0 $163,508 100.0% Direct Labor $16,314 $9,432 $7,619 $10,824 $0 $0 $0 $0 $44,189 27.0% Direct Material $0 $0 $0 $0 $60,384 36.9% $678 $1,486 $0 $0 $0 $0 $3,099 1.9% $38,338 $24,606 $20,860 $23,867 $0 $0 $0 $0 $107,672 65.9% Contribution $20,235 $12,258 $11,574 $11,769 Margin $0 $0 $0 $0 $55,836 34.1% $0 $0 $0 $0 $6,455 3.9% $0 $0 $0 $0 $0 $1,750 1.1% $1,200 $1,200 $1,200 $1,200 $0 $0 $0 $0 $4,800 2.9% $1,000 $1,000 $1,000 $2,000 $0 $0 $0 $0 $5,000 3.1% $280 $0 $0 $0 $0 $1,285 0.8% Total Period $4,740 $4,427 $4,383 $5,740 $0 $0 $0 $0 $19,290 11.8% Net Margin $15,495 $7,831 $7,192 $6,029 $0 $0 $0 $0 $36,547 22.4% Sales Ark Variable Costs: Inventory Carry Total Variable $21,906 $14,358 $12,563 $11,557 $118 $817 Period Costs: Depreciation SG&A: R&D Promotion s Sales Admin $2,080 $1,068 $1,047 $2,260 $0 $460 $869 $290 $881 $255 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 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: Charges 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. Other $29 0.0% EBIT $36,518 22.3% Short Term Interest $1,493 0.9% LongTerm Interest $3,357 2.1% Taxes Profit Sharing Net Profit $11,084 6.8% $412 0.3% $20,172 12.3% Annual Report Page 2 PRINT Annual Report Top Annual Report Baldwin C59559 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 Round: 0 Dec. 31, 2015 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 2015 2014 Common Size Cash Accounts Receivable Inventory $17,334 18.5% $9,132 $9,833 10.5% $8,055 $17,117 18.3% $15,055 47.3% $32,242 $84,380 90.1% $77,880 ($35,023) -37.4% ($29,397) Total Current Assets Plant & Equipment Accumulated Depreciation $44,284 Total Fixed Assets $49,357 52.7% $48,483 Total Assets $93,641 100.0% $80,725 $6,601 7.0% $5,385 Current Debt $18,436 19.7% $10,493 Long Term Debt $19,477 20.8% $20,132 LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities Common Stock Retained Earnings $44,514 47.5% $36,010 $9,100 9.7% $9,489 $40,027 42.7% $35,227 Total Equity $49,127 52.5% $44,716 Total Liab. & O. Equity $93,641 100.0% $80,725 Cash Flow Statement The Cash Flow Statement examines what happened in the Cash Account during the year. Cash injections appear as positive numbers and cash withdrawals as negative numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. When negative cash flows exceed positives, you are forced to seek emergency funding. For example, if sales are bad and you find yourself carrying an abundance of excess inventory, the report would show the increase in inventory as a huge negative cash flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting cash and force you to beg for money to keep your company afloat. Cash Flows from Operating Activities: Net Income (Loss) 2015 2014 $10,723 $7,811 Depreciation Extraordinary gains/losses/writeoffs Accounts Payable $5,625 $5,192 $0 $0 $1,216 ($500) Inventory ($2,062) ($2,867) Accounts Receivable ($1,778) Net cash from operations $13,725 $10,106 $469 Cash Flows from Investing Activities: Plant Improvements ($6,500) ($12,220 ) Cash Flows from Financing Activities: Dividends Paid ($4,479) ($3,880) Sales of Common Stock $0 Purchase of Common Stock Cash from long term debt Retirement of long term debt Change in current debt (net) Net cash from financing activities $0 ($1,833) ($1,175) $5,671 $2,506 ($6,326) $0 $7,943 $516 $977 ($2,033) Net change in cash position Closing cash position $8,201 ($4,147) $17,334 $9,132 Annual Report Page 1 Top Annual Report Baldwin Round: 0 Dec. 31, 2015 C59559 2015 Income Statement (Product Name:) Bit Bolt Buzz Brat Na Na Na Na 2015 Commo n Total Sales Size $33,842 $16,550 $35,518 $33,724 $0 $0 $0 $0 $119,634 100.0% Direct Labor $10,445 $3,364 $8,382 $7,132 $0 $0 $0 $0 $29,324 24.5% Direct Material $0 $0 $0 $0 $48,924 40.9% $694 $0 $0 $0 $0 $2,054 1.7% $25,250 $9,845 $23,692 $21,515 $0 $0 $0 $0 $80,302 67.1% $8,592 $6,705 $11,827 $12,209 $0 $0 $0 $0 $39,332 32.9% $1,292 $1,213 $1,473 $1,647 $0 $0 $0 $0 $5,625 4.7% $939 $0 $0 $0 $0 $3,765 3.1% $1,100 $1,100 $1,100 $1,100 $0 $0 $0 $0 $4,400 3.7% Variable Costs: Inventory Carry Total Variable Contribution Margin $14,575 $6,102 $14,559 $13,689 $230 $379 $751 Period Costs: Depreciation SG&A: R&D Promotion s $876 $963 $988 Sales $400 $400 $1,200 $1,200 $0 $0 $0 $0 $3,200 2.7% Admin $269 $132 $268 $0 $0 $0 $0 $952 0.8% Total Period $3,937 $3,808 $5,044 $5,154 $0 $0 $0 $0 $17,943 15.0% Net Margin $4,654 $2,898 $6,783 $7,055 $0 $0 $0 $0 $21,390 17.9% $283 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 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: Charges 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. Other $311 0.3% EBIT $21,079 17.6% Short Term Interest $1,807 1.5% LongTerm Interest $2,439 2.0% Taxes $5,892 4.9% Profit Sharing Net Profit $219 0.2% $10,723 9.0% Annual Report Page 2 PRINT Annual Report Top Annual Report Chester C59559 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. Round: 0 Dec. 31, 2015 ASSETS 2015 2014 Common Size Cash $32,316 22.3% $36,978 Accounts Receivable $10,828 7.5% $9,785 Inventory $10,293 7.1% $7,677 36.8% $54,440 Total Current Assets $53,437 Plant & Equipment $142,900 98.5% $127,100 Accumulated Depreciation ($51,265) -35.3% ($41,738) $91,635 63.2% $85,362 $145,072 100.0% $139,802 $7,283 5.0% $5,826 Current Debt $29,246 20.2% $22,180 Long Term Debt $53,832 37.1% $51,892 62.3% $79,898 Total Fixed Assets Total Assets LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities $90,361 Common Stock $24,679 17.0% $24,679 Retained Earnings $30,031 20.7% $35,225 37.7% $59,904 Total Equity $54,710 Total Liab. & O. Equity $145,072 100.0% $139,802 Cash Flow Statement The Cash Flow Statement examines what happened in the Cash Account during the year. Cash injections appear as positive numbers and cash withdrawals as negative numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. When negative cash flows exceed positives, you are forced to seek emergency funding. For example, if sales are bad and you find yourself carrying an abundance of excess inventory, the report would show the increase in inventory as a huge negative cash flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting cash and force you to beg for money to keep your company afloat. Cash Flows from Operating Activities: 2015 2014 Net Income (Loss) $7,540 $10,473 Depreciation $9,527 $8,473 $0 $0 $1,457 ($794) Inventory ($2,615) $817 Accounts Receivable ($1,043) ($552) Net cash from operations $14,864 $18,418 Extraordinary gains/losses/writeoffs Accounts Payable Cash Flows from Investing Activities: ($15,800 ($18,592 ) ) Plant Improvements Cash Flows from Financing Activities: ($12,733 ($8,914) ) Dividends Paid Sales of Common Stock $0 $0 Purchase of Common Stock $0 $0 $9,473 $7,976 ($7,533) $0 Cash from long term debt Retirement of long term debt Change in current debt (net) $7,066 ($5,273) Net cash from financing activities ($3,727) ($6,212) Net change in cash position ($4,662) ($6,386) Closing cash position $32,316 $36,978 Annual Report Page 1 Top Annual Report Chester Round: 0 Dec. 31, 2015 C59559 2015 Income Statement (Product Name:) Sales City Cozy 2015 Total Commo n Size Creak Crimp Na Na Na Na $25,462 $31,799 $34,818 $39,664 $0 $0 $0 $0 $131,743 100.0% $5,419 $7,103 $9,505 $10,585 $0 $0 $0 $0 $32,611 Variable Costs: Direct Labor 24.8% Direct Material $0 $0 $0 $0 $53,385 $194 $0 $0 $0 $0 $1,235 0.9% $15,122 $20,030 $24,298 $27,782 $0 $0 $0 $0 $87,231 66.2% Contribution $10,340 $11,770 $10,520 $11,881 Margin $0 $0 $0 $0 $44,512 33.8% $0 $0 $0 $0 $9,527 7.2% $896 $0 $0 $0 $0 $3,768 2.9% $1,050 $1,050 $1,050 $1,050 $0 $0 $0 $0 $4,200 3.2% $1,000 $800 $600 $600 $0 $0 $0 $0 $3,000 2.3% $337 $421 $461 $525 $0 $0 $0 $0 $1,744 1.3% Total Period $6,004 $6,416 $4,847 $4,971 $0 $0 $0 $0 $22,239 16.9% Net Margin $4,336 $5,354 $5,674 $6,910 $0 $0 $0 $0 $22,273 16.9% Inventory Carry Total Variable $9,390 $12,528 $14,463 $17,004 $313 $399 $330 40.5% Period Costs: Depreciation SG&A: R&D Promotion s Sales Admin $2,660 $3,167 $1,800 $1,900 $958 $979 $936 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 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: Charges 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. Other $474 0.4% EBIT $21,799 16.5% Short Term Interest $3,246 2.5% LongTerm Interest $6,717 5.1% Taxes $4,143 3.1% Profit Sharing Net Profit $154 0.1% $7,540 5.7% Annual Report Page 2 PRINT Annual Report Top Annual Report Digby C59559 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 2015 2014 Common Size Cash Accounts Receivable $32,550 25.9% $26,598 $9,760 7.8% $8,814 Round: 0 Dec. 31, 2015 Inventory $6,407 Total Current Assets $48,717 5.1% $7,795 38.7% $43,207 Plant & Equipment $124,400 98.9% $97,758 Accumulated Depreciation ($47,289) -37.6% ($38,996) $77,111 61.3% $58,762 $125,828 100.0% $101,970 $5,796 4.6% $5,189 Current Debt $25,494 20.3% $15,869 Long Term Debt $41,366 32.9% $31,647 57.7% $52,705 Total Fixed Assets Total Assets LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities $72,656 Common Stock $14,385 11.4% $14,385 Retained Earnings $38,786 30.8% $34,879 $53,171 42.3% $49,264 $125,828 100.0% $101,970 Total Equity Total Liab. & O. Equity Cash Flow Statement The Cash Flow Statement examines what happened in the Cash Account during the year. Cash injections appear as positive numbers and cash withdrawals as negative numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. When negative cash flows exceed positives, you are forced to seek emergency funding. For example, if sales are bad and you find yourself carrying an abundance of excess inventory, the report would show the increase in inventory as a huge negative cash flow. Too much unexpected inventory could outstrip your inflows, exhaust your starting cash and force you to beg for money to keep your company afloat. Cash Flows from Operating Activities: Net Income (Loss) Depreciation 2015 2014 $10,177 $10,624 $8,293 $6,517 $0 ($3) $608 $782 Inventory $1,388 $1,757 Accounts Receivable ($946) ($1,876) Extraordinary gains/losses/writeoffs Accounts Payable Net cash from operations $19,521 $17,802 Cash Flows from Investing Activities: Plant Improvements ($26,642 ($2,800) ) Cash Flows from Financing Activities: Dividends Paid ($6,270) ($4,264) Sales of Common Stock $0 $0 Purchase of Common Stock $0 $0 Cash from long term debt $15,601 $0 Retirement of long term debt ($5,882) ($1,648) Change in current debt (net) Net cash from financing activities Net change in cash position Closing cash position $9,625 ($5,992) $13,073 ($11,904 ) $5,952 $3,098 $32,550 $26,598 Annual Report Page 1 Top Annual Report Digby Round: 0 Dec. 31, 2015 C59559 2015 Income Statement (Product Name:) Sales Dim Dome Dug 2015 Total Commo n Size Drat Na Na Na Na $34,528 $41,382 $21,680 $21,154 $0 $0 $0 $0 $118,744 100.0% $4,864 $10,585 $4,405 $4,323 $0 $0 $0 $0 $24,177 20.4% $12,077 $18,054 $9,173 $8,431 $0 $0 $0 $0 $47,734 40.2% $0 $0 $0 $0 Variable Costs: Direct Labor Direct Material Inventory Carry $26 $25 $377 $341 $769 0.6% Total Variable $16,967 $28,664 $13,954 $13,094 $0 $0 $0 $0 $72,680 61.2% Contribution $17,561 $12,717 $7,726 $8,060 Margin $0 $0 $0 $0 $46,064 38.8% Period Costs: Depreciation $2,800 $2,607 $1,500 $1,387 $0 $0 $0 $0 $8,293 7.0% SG&A: R&D $1,000 $928 $988 $857 $0 $0 $0 $0 $3,772 3.2% $950 $950 $950 $950 $0 $0 $0 $0 $3,800 3.2% $600 $1,300 $0 $0 $0 $0 $3,900 3.3% $327 $319 $0 $0 $0 $0 $1,793 1.5% Total Period $6,271 $6,109 $4,365 $4,813 $0 $0 $0 $0 $21,558 18.2% Net Margin $11,290 $6,608 $3,361 $3,247 $0 $0 $0 $0 $24,506 20.6% Promotion s Sales Admin $1,000 $1,000 $521 $625 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 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: Charges 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. Other $780 0.7% EBIT $23,726 20.0% Short Term Interest $2,677 2.3% LongTerm Interest $5,072 4.3% Taxes $5,592 4.7% Profit Sharing Net Profit Annual Report $208 0.2% $10,177 8.6% Page 2