Suppose the Chester company begins to compete through good designs, high awareness and easy accessibility for their existing products, what strategy would they be implementing?

Select: 1

Niche differentiation

Broad differentiation

Niche cost leader

Broad cost leader

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: 2 Student: Philip Carnavas Dec. 31, 2017 Andrews Philip Carnavas Baldwin Chester Digby Philip Carnavas Selected Financial Statistics Andrews Baldwin Chester Digby 6.0% 10.7% -1.6% 1.4% 1.52 1.30 0.70 0.69 9.1% 14.0% -1.1% 0.9% 1.5 1.9 2.9 2.5 13.7% 26.4% -3.2% 2.3% $0 $0 $0 $0 Sales $161,412,475 $174,393,581 $141,869,515 $137,490,878 EBIT $18,110,643 $35,269,961 $12,409,777 $16,980,504 Profits $9,714,907 $18,719,202 ($2,204,562) $1,885,457 $17,701,163 $29,273,683 $2,269,737 $4,706,061 SG&A / Sales 13.7% 7.0% 9.7% 12.2% Contrib. Margin % 37.0% 35.6% 33.8% 35.9% ROS Asset Turnover ROA Leverage (Assets/Equity) ROE Emergency Loan Cumulative Profit COMP-XM INQUIRER Page 1 Top Round: 2 Stocks & Bonds Philip Carnavas December 31 , 2017 Stock Market Summary Company Close Change Shares Andrews $62.80 ($11.30) 1,851,136 Baldwin $81.89 Chester Digby MarketCap ($M) Book Value EPS Dividend Yield P/E $116 $38.36 $5.25 $0.50 0.8% 12.0 $155 $37.50 $9.91 $0.00 0.0% 8.3 $25.17 ($12.34) 2,886,363 $73 $24.07 ($0.76) $0.00 0.0% -33.0 $34.61 $93 $30.00 $0.00 0.0% 49.2 $20.60 1,889,513 ($8.13) 2,682,577 Bond Market Summary $0.70 Company Series# Face Yield Close$ S&P 11.2S2022 $8,837,000 11.1% 100.74 A 11.9S2023 $7,072,000 11.5% 103.81 A 11.1S2024 $2,505,867 11.8% 94.14 BB 11.2S2025 $5,671,177 11.9% 94.12 BB 11.5S2026 $1,376,019 12.1% 95.28 BB 11.7S2027 $15,466,511 12.2% 96.11 BB 11.3S2022 $10,417,600 12.5% 90.09 C 12.5S2023 $14,665,611 13.4% 93.42 C 12.5S2024 $7,975,862 13.5% 92.75 C 12.5S2025 $9,473,322 13.6% 92.17 C 12.9S2026 $14,397,660 13.8% 93.62 C 13.4S2027 $28,547,966 14.0% 95.86 C 11.2S2022 $8,637,463 12.3% 91.36 CC 12.4S2023 $5,827,834 13.1% 94.90 CC 11.9S2025 $15,600,633 13.0% 91.56 CC 12.6S2026 $17,795,619 13.3% 94.50 CC 13.2S2027 $33,555,783 13.6% 97.36 CC Andrews Baldwin Chester Digby Next Year's Prime Rate 8.50% COMP-XM INQUIRER Page 2 Top Financial Summary Cash Flow Statement Survey Round: 2 December 31, 2017 Philip Carnavas Andrews Baldwin Chester Digby $9,715 $18,719 ($2,205) $1,885 $6,975 $7,611 $14,367 $13,024 $0 $0 $0 $0 $629 $1,315 ($1,755) $311 Inventory $3,518 $6,908 $10,942 $9,323 Accounts receivable $1,076 ($2,756) $662 ($2,112) Net cash from operations $21,912 $31,796 $22,011 $22,431 $0 ($20,200) ($37,940) ($50,460) ($926) $0 $0 $0 $0 $548 $9,570 $18,331 ($7,219) $0 $0 $0 $0 $15,467 $28,548 $33,556 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 Cash flows from investing activities Plant improvements (net) Cash flows from financing activities Dividends paid Sales of common stock Purchase of common stock Cash from long term debt issued Early retirement of long term debt $0 $0 $0 $0 Retirement of current debt $0 ($13,954) ($25,225) ($21,728) Cash from current debt borrowing $0 $17,849 $29,760 $20,924 Cash from emergency loan $0 $0 $0 $0 Net cash from financing activities ($8,145) $19,910 $42,653 $51,083 Net change in cash position $13,768 $31,506 $26,724 $23,054 Andrews Baldwin Chester Digby Cash $46,745 $48,322 $53,131 $42,073 Accounts Receivable $13,267 $14,334 $11,661 $11,301 $0 $5,710 $0 $1,652 Total Current Assets $60,012 $68,366 $64,791 $55,026 Plant and equipment $104,624 $114,160 $215,500 $215,760 Accumulated Depreciation ($58,359) ($48,897) ($77,469) ($70,200) $46,265 $65,263 $138,031 $145,560 $106,276 $133,628 $202,822 $200,586 $8,066 $8,602 $6,823 $6,465 Current Debt $11,300 $29,149 $41,060 $32,224 Long Term Debt $15,909 $25,020 $85,478 $81,417 Total Liabilities $35,275 $62,770 $133,361 $120,106 Common Stock $9,335 $9,351 $37,160 $36,988 Balance Sheet Survey Inventory Total Fixed Assets Total Assets Accounts Payable Retained Earnings $61,667 $61,508 $32,301 $43,492 Total Equity $71,002 $70,859 $69,461 $80,480 Total Liabilities & Owners' Equity $106,276 $133,628 $202,822 $200,586 Income Statement Survey Andrews Baldwin Chester Digby Sales $161,412 $174,394 $141,870 $137,491 Variable Costs (Labor, Material, Carry) $101,650 $112,245 $93,960 $88,174 $6,975 $7,611 $14,367 $13,024 SGA (R&D, Promo, Sales, Admin) $22,068 $12,217 $13,727 $16,718 Other (Fees, Writeoffs, TQM, Bonuses) $12,608 $7,051 $7,406 $2,594 EBIT $18,111 $35,270 $12,410 $16,981 Interest (Short term, Long term) $2,860 $5,883 $15,801 $14,021 Taxes $5,338 $10,285 ($1,187) $1,036 $198 $382 $0 $38 $9,715 $18,719 ($2,205) $1,885 Depreciation Profit Sharing Net Profit COMP-XM INQUIRER Page 3 Top Production Analysis Philip Carnavas Round: 2 December 31, 2017 Production Information Unit Primary Inve Age Segmen Units n Revisio Dec. MTB Pfmn Size Name t Sold tory n Date 31 F Coord Coord Ark Core 1,711 0 6/30/20 1.6 22000 17 9.7 Ant Nano 1,105 0 7/22/20 1.4 24000 17 Ace Elite 1,120 0 Awe Thrift 1,375 Bit Nano 1,507 Bolt Elite Auto 2nd matio Shift n Contr & Next Capacit Plan Materia Labor . Over- Roun y Next Uti Price l Cost Cost Marg. time d Round z 3% 5.0 1,500 10 % 11.6 5.9 $37.50 $13.36 $9.79 38% 53% 4.0 728 15 % 7/22/20 1.4 26000 17 14.2 8.5 $39.50 $13.89 $9.88 40% 58% 4.0 714 15 % 0 12/6/20 4.1 20000 16 6.6 $7.18 $6.53 27% 23% 6.0 1,130 12 % 0 12/3/20 1.3 23000 17 11.5 6.6 $32.00 $13.96 $9.21 30% 88% 6.0 850 18 % 840 98 1/4/201 2.4 25000 7 14.7 8.1 $35.00 $15.32 $8.17 31% 21% 6.5 800 12 % Buzz Nano 1,315 43 9/19/20 1.2 23000 17 12.6 5.4 $37.00 $14.96 $7.77 39% 35% 6.0 950 13 % Brat Elite 1,234 105 8/17/20 1.2 25000 17 14.5 7.6 $39.00 $15.41 $7.48 41% 21% 6.0 1,000 12 % 10.4 $29.00 $10.21 $7.31 39% 13.6 $19.00 City Thrift 2,092 0 4/11/20 2.7 17000 17 7.3 12.8 $17.00 $7.76 $3.89 31% 90% 9.0 1,450 18 % Cozy Thrift 2,093 0 4/11/20 2.6 17000 17 7.5 12.6 $17.00 $7.94 $3.71 31% 56% 9.0 1,600 15 % Creak Core 1,337 0 12/16/2 1.1 18000 017 10.4 9.1 $25.00 $11.07 $4.22 38% 10% 8.0 1,050 10 % Crim p Core 1,492 0 12/18/2 1.1 20000 017 11.1 9.6 $25.00 $11.75 $4.13 36% 4% 8.0 1,250 10 % Dim Thrift 1,335 0 12/20/2 3.5 14000 018 6.5 13.6 $18.00 $6.26 $2.33 50% 0% 9.5 1,250 83% 1,903 0 12/6/20 2.1 16000 16 8.9 11.2 $20.00 $9.01 $4.97 28% 17% 8.0 1,500 11 % Dug Nano 1,066 0 12/17/2 1.0 18000 017 11.6 6.1 $30.00 $13.17 $6.26 37% 19% 6.0 800 11 % Drat Elite 819 80 12/18/2 1.0 20000 017 14.4 8.3 $34.00 $14.05 $6.98 39% 0% 6.0 800 93% Daze Core 743 0 4/1/201 0.8 16000 7 9.5 10.6 $21.00 $9.54 $5.77 26% 100% 7.0 0 0 2/10/20 0.0 18 0.0 0.0 $0.00 $0.00 $0.00 7.0 Dome Core Dell 0 COMP-XM INQUIRER 0% 0% 1,040 600 0% Page 4 Top Thrift Market Segment Analysis Philip Carnavas Thrift Statistics Total Industry Unit Demand 6,289 Actual Industry Unit Sales 5,929 Segment % of Total Industry 26.4% Next Year's Segment Growth Rate 11.0% Round: 2 December 31, 2017 14 % 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 7.0 Size 13.1 15% Ideal Age = 3.0 10% 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 City 27% 1,616 4/11/20 YES 17 7.3 12.8 $17.00 17000 2.74 $1,200 73% $1,100 67% 44 Cozy 26% 1,562 4/11/20 YES 17 7.5 12.6 $17.00 17000 2.64 $1,200 74% $1,100 67% 42 Dim 20% 1,156 12/20/2 YES 018 6.5 13.6 $18.00 14000 3.48 $1,050 61% $1,000 66% 26 Awe 18% 1,082 12/6/20 YES 16 6.6 13.6 $19.00 20000 4.08 $2,200 100% $2,500 87% 64 Dom e 7% 419 12/6/20 YES 16 8.9 11.2 $20.00 16000 2.11 $1,050 61% $1,000 66% 14 Ark 1% 61 6/30/20 YES 17 9.7 10.4 $29.00 22000 1.65 $2,200 100% $2,500 87% 1 Daze 1% 33 4/1/201 YES 7 9.5 10.6 $21.00 16000 0.75 $1,050 48% 3 COMP-XM INQUIRER $900 66% Page 5 Top Core Market Segment Analysis Philip Carnavas Core Statistics Total Industry Unit Demand 8,084 Actual Industry Unit Sales 7,731 Segment % of Total Industry 34.0% Next Year's Segment Growth Rate 10.0% Round: 2 December 31, 2017 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 9.7 Size 10.4 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 Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y Dome 19% 1,483 12/6/20 YES 16 8.9 11.2 $20.00 16000 2.11 $1,050 61% $1,000 65% 38 Ark 17% 1,305 6/30/20 YES 17 9.7 10.4 $29.00 22000 1.65 $2,200 100% $2,500 90% 53 Crim p 17% 1,302 12/18/2 YES 11.1 017 9.6 $25.00 20000 1.10 $1,200 73% $900 70% 30 Creak 15% 1,162 12/16/2 YES 10.4 017 9.1 $25.00 18000 1.09 $1,200 73% $900 70% 26 Daze 9% 710 4/1/201 YES 7 9.5 10.6 $21.00 16000 0.75 $1,050 48% $900 65% 33 Cozy 7% 531 4/11/20 YES 17 7.5 12.6 $17.00 17000 2.64 $1,200 74% $1,100 70% 18 City 6% 477 4/11/20 YES 17 7.3 12.8 $17.00 17000 2.74 $1,200 73% $1,100 70% 14 Awe 4% 293 12/6/20 YES 16 6.6 13.6 $19.00 20000 4.08 $2,200 100% $2,500 90% 3 Bit 3% 259 12/3/20 YES 11.5 17 6.6 $32.00 23000 1.35 $1,300 82% $900 17% 0 Dim 2% 178 12/20/2 YES 13.6 $18.00 14000 3.48 $1,050 61% $1,000 65% 0 6.5 018 Dug 0% 31 12/17/2 YES 11.6 017 6.1 $30.00 18000 1.04 $1,050 61% COMP-XM INQUIRER $900 65% Page 6 Top Nano Market Segment Analysis Philip Carnavas Nano Statistics Total Industry Unit Demand 4,744 Actual Industry Unit Sales 4,744 Segment % of Total Industry 19.9% Next Year's Segment Growth Rate 14.0% Round: 2 December 31, 2017 Nano Customer Buying Criteria Expectations Importance 1. Ideal Position Pfmn 11.6 Size 5.9 35% 2. Price $28.00 - 40.00 27% 3. Age Ideal Age = 1.0 20% MTBF 18000-24000 18% 4. Reliability 0 Perceptual Map for Nano Segment Top Products in Nano Segment Units Sold Revisio Market to n Stock Pfmn Size Name Share Seg Date Out Coord Coord Buzz 24% 1,149 9/19/20 17 Ant 20% 958 Bit 18% Dug 12.6 Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y 5.4 $37.00 23000 1.20 $1,300 82% $800 85% 45 7/22/20 YES 11.6 17 5.9 $37.50 24000 1.43 $2,000 100% $2,500 94% 74 867 12/3/20 YES 11.5 17 6.6 $32.00 23000 1.35 $1,300 82% $900 85% 64 18% 852 12/17/2 YES 11.6 017 6.1 $30.00 18000 1.04 $1,050 61% $900 65% 41 Ark 4% 188 6/30/20 YES 17 9.7 10.4 $29.00 22000 1.65 $2,200 100% $2,500 94% 12 Drat 4% 173 12/18/2 017 14.4 8.3 $34.00 20000 1.05 $1,050 61% $1,500 65% 2 Creak 3% 150 12/16/2 YES 10.4 017 9.1 $25.00 18000 1.09 $1,200 73% $900 24% 8 Brat 3% 145 8/17/20 17 14.5 7.6 $39.00 25000 1.24 $1,300 81% $800 85% 4 Crim p 3% 141 12/18/2 YES 11.1 017 9.6 $25.00 20000 1.10 $1,200 73% $900 24% 9 Ace 3% 120 7/22/20 YES 14.2 8.5 $39.50 26000 1.44 $2,000 100% $2,500 94% 5 17 COMP-XM INQUIRER Page 7 Top Elite Market Segment Analysis Philip Carnavas Elite Statistics Total Industry Unit Demand 4,681 Actual Industry Unit Sales 4,681 Segment % of Total Industry 19.7% Next Year's Segment Growth Rate 16.0% Round: 2 December 31, 2017 Elite Customer Buying Criteria Expectations Importance 1. Age Ideal Age = 0.0 34% 2. Price $30.00 - 42.00 24% Pfmn 14.2 Size 8.5 22% MTBF 20000-26000 20% 3. Ideal Position 4. Reliability Perceptual Map for Elite Segment Top Products in Elite Segment Units Sold Revisio Market to n Stock Pfmn Size Name Share Seg Date Out Coord Coord Brat 23% 1,088 8/17/20 17 Ace 21% 1,000 Bolt 18% Drat 14.5 Cust. Dec. Age Promo Aware Sales Cust. Cust. List MTB Dec. Budge Budge Access- Surve Price F 31 t ness t ibility y 7.6 $39.00 25000 1.24 $1,300 81% $800 87% 41 7/22/20 YES 14.2 17 8.5 $39.50 26000 1.44 $2,000 100% $2,500 97% 60 840 1/4/201 7 14.7 8.1 $35.00 25000 2.45 $1,300 82% $900 87% 36 14% 646 12/18/2 017 14.4 8.3 $34.00 20000 1.05 $1,050 61% $1,500 60% 30 Bit 8% 381 12/3/20 YES 11.5 17 6.6 $32.00 23000 1.35 $1,300 82% $900 87% 18 Dug 4% 183 12/17/2 YES 11.6 017 6.1 $30.00 18000 1.04 $1,050 61% $900 60% 4 Buzz 4% 166 9/19/20 17 12.6 5.4 $37.00 23000 1.20 $1,300 82% $800 87% 1 Ark 3% 156 6/30/20 YES 17 9.7 10.4 $29.00 22000 1.65 $2,200 100% $2,500 97% 8 Ant 3% 147 7/22/20 YES 11.6 17 5.9 $37.50 24000 1.43 $2,000 100% $2,500 97% 6 Crim p 1% 49 12/18/2 YES 11.1 017 9.6 $25.00 20000 1.10 $1,200 73% $900 11% 3 Creak 1% 25 12/16/2 YES 10.4 017 9.1 $25.00 18000 1.09 $1,200 73% $900 11% 1 COMP-XM INQUIRER Page 8 Top Market Share Report Philip Carnavas Round: 2 December 31, 2017 Actual Market Share in Units Thrif Core Nano Elite t Total Industry Unit Sales 5,929 7,731 4,744 4,681 23,085 % of Market 25.7 33.5 20.6 20.3 % % % % 100.0 % 16.9 4.0% 3.3% % 7.4% 20.2 3.1% % 4.8% 21.4 % 4.8% Ark 1.0% Ant Ace 2.5% Awe 18.3 3.8% % Total 19.3 20.7 26.7 27.8 % % % % 23.0% 18.3 8.1% % 6.5% 17.9 % 3.6% Buzz 24.2 3.5% % 5.7% Brat 3.1% 23.3 5.3% Bit Bolt 3.4% 6.0% % Total 3.4% 45.6 52.9 % % 21.2% City 27.3 6.2% % 9.1% Cozy 26.3 6.9% % 9.1% Creak 15.0 3.2% 0.5% % 5.8% Crimp 16.8 3.0% 1.0% % 6.5% Total 53.6 44.9 6.1% 1.6% % % 30.4% Dim 19.5 2.3% % 5.8% 19.2 % 8.2% Dome 7.1% Dug 0.4% Drat 17.9 3.9% % 4.6% 13.8 % 3.5% 3.6% Daze 0.6% 9.2% 27.1 31.1 21.6 17.7 % % % % Total 3.2% 25.4% Potential Market Share in Units Units Demande d % of Market Ark Thrift Core Nano Elite Total 6,289 8,084 4,744 4,681 23,798 26.4% 34.0% 19.9% 19.7% 100.0% 1.1% 21.1% 5.9% 4.9% 9.6% Ant 29.2% 4.5% 6.7% Ace 3.3% 28.4% 6.3% Awe 35.5% 8.7% 12.3% Total 36.6% 29.8% 38.4% 37.9% 34.9% 2.1% 16.8% 7.5% 5.5% 15.2% 3.0% Buzz 19.1% 3.1% 4.4% Brat 2.5% 19.7% 4.4% 2.1% 38.4% 45.5% 17.3% Bit Bolt Total City 22.0% 6.0% 7.8% Cozy 21.4% 6.7% 7.9% Creak 12.3% 3.0% 0.5% 4.9% Crimp 13.9% 2.8% 1.0% 5.5% Total 43.4% 38.8% 5.7% 1.5% 26.1% Dim 14.3% 2.0% 4.4% 5.2% 17.1% 7.2% Dome Dug 14.6% 3.4% 3.6% Drat 2.9% 11.8% 2.9% Daze Total 0.6% 10.2% 20.0% 29.3% 17.5% 15.1% 3.6% 21.7% COMP-XM INQUIRER Page 9 Top Perceptual Map Philip Carnavas Round: 2 December 31, 2017 Perceptual Map for All Segments Andrews Name Pfmn Size Revised Ark 9.7 10.4 6/30/2017 Ant 11.6 5.9 7/22/2017 Ace 14.2 8.5 7/22/2017 Awe 6.6 13.6 12/6/2016 Name Pfmn Size Revised Bit 11.5 6.6 12/3/2017 Bolt 14.7 8.1 1/4/2017 Buzz 12.6 5.4 9/19/2017 Brat 14.5 7.6 8/17/2017 COMP-XM INQUIRER Page 10 Top HR/TQM Report Round: 2 December 31, 2017 Philip Carnavas HUMAN RESOURCES SUMMARY Andrews Baldwin Chester Digby Needed Complement 677 571 389 438 Complement 677 571 389 438 1st Shift Complement 524 403 288 372 2nd Shift Complement 153 167 101 67 Overtime% 0.0% 0.0% 0.0% 0.0% Turnover Rate 6.9% 10.0% 8.0% 6.4% 85 93 31 51 0 0 208 0 $5,000 $0 $2,500 $5,000 80 0 40 80 107.6% 100.0% 114.1% 125.3% New Employees Separated Employees Recruiting Spend Training Hours Productivity Index Recruiting Cost $508 $93 $109 $304 Separation Cost $0 $0 $1,042 $0 Training Cost $1,083 $0 $311 $702 Total HR Admin Cost $1,591 $93 $1,462 $1,005 $28.15 $28.15 $28.15 $28.15 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% 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 $1,500 $0 $1,250 $0 Vendor/JIT $1,500 $0 $1,250 $0 Quality Initiative Training $2,000 $1,250 $0 $0 Channel Support Systems $1,500 $1,250 $1,500 $0 Concurrent Engineering $0 $1,250 $0 $0 UNEP Green Programs $1,500 $0 $0 $0 $1,500 $0 $0 $0 $0 $0 $0 $0 CCE/6 Sigma Training $1,500 $1,250 $750 $0 GEMI TQEM Sustainability Initiatives $1,500 $1,250 $750 $0 $12,500 $6,250 $5,500 $0 11.35% 2.92% 1.40% 0.00% Process Mgt Budgets Last Year TQM Budgets Last Year Benchmarking Quality Function Deployment Effort Total Expenditures Cumulative Impacts Material Cost Reduction Labor Cost Reduction 13.65% 11.25% 0.33% 0.00% Reduction R&D Cycle Time 27.25% 32.13% 0.00% 0.00% Reduction Admin Costs 60.02% 0.00% 3.25% 0.00% Demand Increase 13.42% 4.56% 1.16% 0.00% 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 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 Round: 2 Dec. 31, 2017 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 2017 2016 Common Size Cash $46,745 44.0% $32,977 Accounts Receivable $13,267 12.5% $14,343 $0 0.0% $3,518 56.5% $50,838 Inventory Total Current Assets $60,012 Plant & Equipment $104,624 98.4% $104,624 Accumulated Depreciation ($58,359) -54.9% ($51,384) $46,265 43.5% $53,240 $106,276 100.0% $104,077 $8,066 7.6% $7,437 Current Debt $11,300 10.6% $0 Long Term Debt $15,909 15.0% $27,209 33.2% $34,646 Total Fixed Assets Total Assets LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities $35,275 Common Stock Retained Earnings $9,335 8.8% $10,418 $61,667 58.0% $59,013 $71,002 66.8% $69,431 $106,276 100.0% $104,077 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: 2017 2016 Net Income (Loss) $9,715 $7,986 Depreciation $6,975 $6,975 Extraordinary gains/losses/writeoffs $0 Accounts Payable $0 $629 ($2,080) Inventory $3,518 $22,308 Accounts Receivable $1,076 Net cash from operations ($904) $21,912 $34,286 Cash Flows from Investing Activities: Plant Improvements $0 ($7,800) Cash Flows from Financing Activities: Dividends Paid Sales of Common Stock Purchase of Common Stock Cash from long term debt ($926) $0 $0 $0 ($7,219) ($9,805) $0 $0 Retirement of long term debt ($11,300 ) $0 Change in current debt (net) $11,300 ($15,717 ) Net cash from financing activities ($8,145) ($25,522 ) Net change in cash position $13,768 $963 Closing cash position $46,745 $32,977 Annual Report Page 1 Top Annual Report Andrews Round: 2 Dec. 31, 2017 C59559 2017 Income Statement (Product Name:) Ark Ant Ace Awe Na Na Na Na 2017 Commo Total n Size Sales $49,608 $41,438 $44,235 $26,131 $0 $0 $0 $0 $161,412 100.0% Direct Labor $12,846 $10,820 $11,060 $8,986 $0 $0 $0 $0 $43,712 27.1% Direct Material $0 $0 $0 $0 $57,938 35.9% $0 $0 $0 $0 $0 $0 0.0% $30,373 $25,531 $26,564 $19,183 $0 $0 $0 $0 $101,650 63.0% Contribution $19,235 $15,907 $17,671 $6,949 Margin $0 $0 $0 $0 $59,762 37.0% $0 $0 $0 $0 $6,975 4.3% $0 $0 $0 $0 $0 $1,625 1.0% $2,200 $2,000 $2,000 $2,200 $0 $0 $0 $0 $8,400 5.2% $2,500 $2,500 $2,500 $2,500 $0 $0 $0 $0 $10,000 6.2% $331 $0 $0 $0 $0 $2,043 1.3% Total Period $8,431 $6,654 $6,668 $7,291 $0 $0 $0 $0 $29,043 18.0% Net Margin $10,805 $9,254 $11,003 ($342) $0 $0 $0 $0 $30,719 19.0% Variable Costs: Inventory Carry Total Variable $17,527 $14,711 $15,504 $10,197 $0 $0 $0 Period Costs: Depreciation SG&A: R&D Promotion s Sales Admin $2,600 $1,068 $1,047 $2,260 $503 $628 $561 $524 $561 $560 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 $12,608 7.8% EBIT $18,111 11.2% Short Term Interest $1,028 0.6% LongTerm Interest $1,831 1.1% Taxes $5,338 3.3% Profit Sharing Net Profit $198 0.1% $9,715 6.0% 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 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: 2 Dec. 31, 2017 ASSETS 2017 2016 Common Size Cash $48,322 36.2% $16,815 Accounts Receivable $14,334 10.7% $11,578 $5,710 4.3% $12,618 51.2% $41,011 $114,160 85.4% $93,960 ($48,897) -36.6% ($41,287) $65,263 48.8% $52,673 $133,628 100.0% $93,685 $8,602 6.4% $7,287 Current Debt $29,149 21.8% $13,954 Long Term Debt $25,020 18.7% $20,853 47.0% $42,094 $9,351 7.0% $8,803 $61,508 46.0% $42,788 53.0% $51,591 Inventory Total Current Assets Plant & Equipment Accumulated Depreciation $68,366 Total Fixed Assets Total Assets LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities Common Stock Retained Earnings Total Equity $62,771 $70,859 Total Liab. & O. Equity $133,628 100.0% $93,685 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 2017 2016 $18,719 $10,554 $7,611 $6,264 $0 $0 Accounts Payable $1,315 $686 Inventory $6,908 $4,499 Extraordinary gains/losses/writeoffs Accounts Receivable ($2,756) ($1,745) Net cash from operations $31,796 $20,259 Cash Flows from Investing Activities: ($20,200 ($9,580) ) Plant Improvements Cash Flows from Financing Activities: Dividends Paid $0 ($6,484) Sales of Common Stock $548 Purchase of Common Stock $0 $0 ($1,606) Cash from long term debt $15,467 $1,376 Retirement of long term debt ($11,300 ) $0 Change in current debt (net) $15,195 ($4,483) Net cash from financing activities $19,910 ($11,197 ) Net change in cash position $31,506 ($518) Closing cash position $48,322 $16,815 Annual Report Page 1 Top Annual Report Baldwin Round: 2 Dec. 31, 2017 C59559 2017 Income Statement (Product Name:) Bolt Buzz 2017 Total Commo n Size Brat Na Na Na Na $48,219 $29,408 $48,651 $48,116 $0 $0 $0 $0 $174,394 100.0% Direct Labor $13,895 $6,881 $10,331 $9,307 $0 $0 $0 $0 $40,413 Sales Bit Variable Costs: 23.2% Direct Material $0 $0 $0 $0 $71,146 $288 $0 $0 $0 $0 $685 0.4% $33,596 $20,284 $29,834 $28,531 $0 $0 $0 $0 $112,245 64.4% Contribution $14,623 $9,124 $18,817 $19,585 Margin $0 $0 $0 $0 $62,149 35.6% $0 $0 $0 $0 $7,611 4.4% $634 $0 $0 $0 $0 $2,304 1.3% $1,300 $1,300 $1,300 $1,300 $0 $0 $0 $0 $5,200 3.0% Inventory Carry Total Variable $19,702 $13,122 $19,386 $18,936 $0 $281 $117 40.8% Period Costs: Depreciation SG&A: R&D Promotion s $2,004 $1,707 $1,900 $2,000 $934 $9 $727 Sales $900 $900 $800 $800 $0 $0 $0 $0 $3,400 1.9% Admin $363 $222 $367 $363 $0 $0 $0 $0 $1,314 0.8% Total Period $5,501 $4,137 $5,094 $5,096 $0 $0 $0 $0 $19,828 11.4% Net Margin $9,121 $4,987 $13,723 $14,489 $0 $0 $0 $0 $42,321 24.3% 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 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 $7,051 4.0% EBIT $35,270 20.2% Short Term Interest $3,002 1.7% LongTerm Interest $2,881 1.7% Taxes Profit Sharing Net Profit $10,285 5.9% $382 0.2% $18,719 10.7% 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. ASSETS 2017 2016 Common Size Cash $53,131 26.2% $26,407 Accounts Receivable $11,661 5.7% $12,322 Round: 2 Dec. 31, 2017 Inventory $0 Total Current Assets $64,792 0.0% $10,942 31.9% $49,671 Plant & Equipment $215,500 106.3% $177,560 Accumulated Depreciation ($77,469) -38.2% ($63,102) Total Fixed Assets $138,031 68.1% $114,458 Total Assets $202,822 100.0% $164,128 $6,823 3.4% $8,578 Current Debt $41,060 20.2% $25,225 Long Term Debt $85,478 42.1% $68,230 65.8% $102,033 LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities $133,361 Common Stock $37,160 18.3% $27,590 Retained Earnings $32,301 15.9% $34,506 $69,461 34.2% $62,096 $202,822 100.0% $164,128 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: 2017 2016 Net Income (Loss) ($2,205) $4,474 Depreciation $14,367 $11,837 Extraordinary gains/losses/writeoffs $0 $0 Accounts Payable ($1,755) $1,295 Inventory $10,942 ($649) Accounts Receivable Net cash from operations $662 ($1,494) $22,011 $15,464 Cash Flows from Investing Activities: Plant Improvements ($37,940 ($34,660 ) ) Cash Flows from Financing Activities: Dividends Paid Sales of Common Stock Purchase of Common Stock $0 $0 $9,570 $2,911 $0 $0 Cash from long term debt $28,548 $14,398 Retirement of long term debt ($11,300 ) Change in current debt (net) $15,835 ($4,021) Net cash from financing activities $42,653 $13,287 Net change in cash position $26,724 ($5,909) Closing cash position $53,131 $26,407 $0 Annual Report Page 1 Top Annual Report Chester Round: 2 Dec. 31, 2017 C59559 2017 Income Statement (Product Name:) Sales City Cozy 2017 Total Commo n Size Creak Crimp Na Na Na Na $35,567 $35,577 $33,427 $37,298 $0 $0 $0 $0 $141,870 100.0% $8,206 $7,886 $6,206 $6,803 $0 $0 $0 $0 $29,101 20.5% $16,334 $16,725 $14,546 $17,254 $0 $0 $0 $0 $64,859 45.7% $0 $0 $0 $0 $0 $0 0.0% $24,540 $24,611 $20,752 $24,057 $0 $0 $0 $0 $93,960 66.2% Variable Costs: Direct Labor Direct Material Inventory Carry Total $0 $0 $0 Variable Contribution $11,027 $10,967 $12,675 $13,241 Margin $0 $0 $0 $0 $47,910 33.8% $0 $0 $0 $0 $14,367 10.1% $976 $0 $0 $0 $0 $2,505 1.8% $1,200 $1,200 $1,200 $1,200 $0 $0 $0 $0 $4,800 3.4% $1,100 $1,100 Period Costs: Depreciation SG&A: R&D Promotion s Sales $4,060 $4,480 $2,660 $3,167 $279 $279 $970 $900 $900 $0 $0 $0 $0 $4,000 2.8% $571 $637 $0 $0 $0 $0 $2,423 1.7% Total Period $7,246 $7,667 $6,301 $6,880 $0 $0 $0 $0 $28,094 19.8% Net Margin $3,781 $3,300 $6,374 $6,361 $0 $0 $0 $0 $19,816 14.0% Admin $607 $608 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 $7,406 5.2% EBIT $12,410 8.7% Short Term Interest $4,927 3.5% LongTerm Interest $10,874 7.7% Taxes ($1,187) -0.8% Profit Sharing Net Profit $0 0.0% ($2,205) -1.6% Annual Report Page 2 PRINT Annual Report Top Annual Report Digby C59559 Balance Sheet DEFINITIONS: Common Size: Round: 2 Dec. 31, 2017 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 2017 2016 Common Size Cash $42,073 21.0% $19,019 Accounts Receivable $11,301 5.6% $9,188 $1,652 0.8% $10,975 27.4% $39,182 107.6% $165,300 Inventory Total Current Assets Plant & Equipment $55,026 $215,760 Accumulated Depreciation ($70,200) -35.0% ($57,176) Total Fixed Assets $145,560 72.6% $108,124 Total Assets $200,586 100.0% $147,307 $6,465 3.2% $6,154 Current Debt $32,224 16.1% $21,728 Long Term Debt $81,417 40.6% $59,162 59.9% $87,044 LIABILITIES & OWNERS' EQUITY Accounts Payable Total Liabilities $120,106 Common Stock $36,988 18.4% $18,657 Retained Earnings $43,492 21.7% $41,607 $80,480 40.1% $60,264 $200,586 100.0% $147,307 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 2017 2016 $1,885 $2,821 $13,024 $9,887 $0 $0 $311 $357 $9,323 ($4,568) Accounts Receivable ($2,112) $571 Net cash from operations $22,431 $9,068 Cash Flows from Investing Activities: Plant Improvements ($50,460 ($40,900 ) ) Cash Flows from Financing Activities: Dividends Paid Sales of Common Stock Purchase of Common Stock $0 $0 $18,331 $4,272 $0 $0 Cash from long term debt $33,556 $17,796 Retirement of long term debt ($11,300 ) Change in current debt (net) $10,497 ($3,766) Net cash from financing activities $51,083 $18,301 Net change in cash position $23,054 Closing cash position $42,073 $19,019 $0 ($13,531 ) Annual Report Page 1 Top Annual Report Digby Round: 2 Dec. 31, 2017 C59559 2017 Income Statement (Product Name:) Dome Dug Drat Commo n Size Daze Dell Na Na $24,023 $38,055 $31,965 $27,853 $15,596 $0 $0 $0 $137,491 100.0% Direct Labor $3,227 $9,574 $6,618 $5,716 $4,284 $0 $0 $0 $29,418 21.4% Direct Material $8,783 $17,753 $13,615 $11,126 $7,281 $0 $0 $0 $58,559 42.6% $0 $0 $0 Sales Dim 2017 Total Variable Costs: Inventory Carry $0 $0 $0 $198 $0 $198 0.1% Total Variable $12,010 $27,327 $20,233 $17,040 $11,565 $0 $0 $0 $88,174 64.1% Contribution $12,013 $10,728 $11,732 $10,813 $4,031 Margin $0 $0 $0 $49,317 35.9% $0 $0 $0 $13,024 9.5% $250 $1,000 $0 $0 $4,200 3.1% Period Costs: Depreciation $3,667 $3,800 $1,600 $1,600 $2,357 SG&A: R&D $1,000 Promotion s Sales $0 $973 $977 $1,050 $1,050 $1,050 $1,050 $1,050 $0 $0 $0 $5,250 3.8% $1,000 $1,000 $900 $1,500 $900 $0 $0 $0 $5,300 3.9% $458 $223 $0 $0 $0 $1,968 1.4% Total Period $7,060 $6,395 $4,981 $5,525 $4,781 $1,000 $0 $0 $29,742 21.6% Net Margin $4,952 $4,333 $6,752 $5,288 ($750)($1,000) $0 $0 $19,575 14.2% Admin $344 $545 $399 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 $2,594 1.9% EBIT $16,981 12.4% Short Term Interest $3,802 2.8% LongTerm Interest $10,218 7.4% Taxes Profit Sharing Net Profit Annual Report $1,036 0.8% $38 0.0% $1,885 1.4% Page 2