Round: 6

Dec. 31, C116353

2026
Andrews Baldwin Chester
Pranav Gupta jatin bagla Shweta Rohra
Abhishek Gupta Suprey Bharambe Shubham Mahajan
Adarsh IR Harshad Bobade Ahmad Rab
Himanshi Jain Vishakha Bukalsaria Shubhang Rao
Divya Jaiwar SOMYA KESHRI Namisha Sharma
Nikhil Malik omkar Lalage Nilima Singh

Digby Erie Ferris

Khaji Mohammad Atah SANJIT ANAND Surya Jain
Shubham Choudhary Sumi Hamilton Dhaval Jain
Nishi Mallika Krishak Khandelwal Priyal Jain
Bharadwaj Paravastu Ayush Kothari Prity Malani
Prachi Singhal Shivam Sethi Arjun Mehera
Akilesh Sonaji Harsh Swarnkar Danish Mittal

Selected Financial Statistics

Andrews Baldwin Chester Digby Erie Ferris
ROS 6.8% 14.0% 1.4% 7.7% 3.6% 8.4%
Asset Turnover 2.12 0.94 2.03 1.56 1.68 1.30
ROA 14.5% 13.2% 2.9% 12.0% 6.1% 11.0%
Leverage 2.2 3.5 6.7 2.0 1.7 1.7
ROE 32.4% 45.6% 19.3% 23.8% 10.6% 18.8%
Emergency Loan $0 $0 $0 $0 $0 $0
Sales $204,612,356 $82,052,662 $219,116,058 $243,943,796 $251,064,076 $213,623,832
EBIT $27,745,623 $26,497,926 $13,610,900 $37,926,089 $20,612,981 $35,225,695
Profits $13,964,818 $11,464,100 $3,105,830 $18,785,465 $9,086,943 $18,043,094
Cumulative Profit ($11,431,288) ($18,830,813) ($31,089,274) $25,794,740 $13,625,628 $23,986,060
SG&A / Sales 10.0% 11.9% 8.1% 8.5% 6.3% 7.1%
Contrib. Margin % 31.8% 44.6% 20.2% 34.1% 21.8% 34.4%

CAPSTONE ® COURIER Page 1

 Round: 6
Stock & Bonds C116353 Dec. 31, 2026
Stock Market Summary
MarketCap Book Value
Company Close Change Shares EPS Dividend Yield P/E
($M) Per Share
Andrews $32.33 $18.85 2,986,905 $97 $14.43 $4.68 $0.00 0.0% 6.9
Baldwin $22.00 $21.00 2,200,000 $48 $11.42 $5.21 $0.00 0.0% 4.2
Chester $7.78 $6.34 2,862,345 $22 $5.64 $1.09 $0.00 0.0% 7.2
Digby $61.02 $25.36 2,449,337 $149 $32.22 $7.67 $0.50 0.8% 8.0
Erie $36.31 $7.12 3,413,925 $124 $25.14 $2.66 $0.00 0.0% 13.6
Ferris $57.23 $17.04 3,027,922 $173 $31.66 $5.96 $0.00 0.0% 9.6

Bond Market Summary

Company Series# Face Yield Close$ S&P Company Series# Face Yield Close$ S&P
Andrews Digby
13.2S2032 $15,000,000 14.1% 93.91 CCC 11.3S2031 $13,000,000 12.5% 90.09 B
14.0S2033 $6,126,000 14.5% 96.65 CCC 13.3S2032 $15,000,000 13.8% 96.52 B
14.6S2034 $8,000,000 14.7% 99.10 CCC 13.7S2033 $750,000 14.0% 97.87 B
Baldwin 13.8S2034 $5,000,000 14.1% 98.16 B
11.3S2031 $3,200,000 13.3% 84.90 DDD 14.1S2036 $10,000,000 14.2% 99.48 B
13.9S2033 $17,000,000 15.1% 91.90 DDD Erie
14.5S2034 $2,000,000 15.4% 93.90 DDD 11.3S2031 $11,000,000 12.2% 92.69 BB
15.2S2035 $500,000 15.7% 96.76 DDD 12.4S2032 $9,600,000 12.9% 96.05 BB
15.7S2036 $15,000,000 15.9% 99.03 DDD 13.6S2035 $18,300,000 13.5% 101.01 BB
Chester Ferris
11.3S2031 $4,500,000 13.5% 83.74 DDD 12.1S2032 $22,500,000 12.7% 95.24 BBB
13.2S2032 $18,000,000 14.9% 88.67 DDD
14.2S2033 $15,367,000 15.5% 91.59 DDD
14.8S2034 $4,400,000 15.8% 93.55 DDD

Next Year's Prime Rate10.00%

CAPSTONE ® COURIER Page 2
 Round: 6
Financial Summary C116353 Dec. 31, 2026
Cash Flow Statement Survey Andrews Baldwin Chester Digby Erie Ferris
CashFlows from operating activities
Net Income(Loss) $13,965 $11,464 $3,106 $18,785 $9,087 $18,043
Adjustment for non-cash items:
Depreciation $8,840 $6,273 $10,582 $11,587 $11,558 $12,653
Extraordinary gains/losses/writeoffs ($1,217) ($9,680) $0 $0 $0 $0
Changes in current assets and liablilities
Accounts payable $2,468 ($1,828) $9,137 $4,053 ($2,442) ($187)
Inventory $938 $9,501 $0 $1,198 $2,590 ($2,259)
Accounts Receivable ($3,482) $416 ($4,900) ($5,577) $223 ($1,595)
Net cash from operations $21,511 $16,146 $17,925 $30,046 $21,017 $26,655

Cash flows from investing activities

Plant improvements(net) ($11,680) $794 ($12,016) ($19,440) ($40,654) ($29,170)
Cash flows from financing activities
Dividends paid $0 $0 $0 ($1,225) $0 $0
Sales of common stock $0 $0 $250 $5,000 $0 $7,000
Purchase of common stock ($2,000) $0 $0 $0 $0 $0
Cash from long term debt issued $0 $15,000 $0 $10,000 $0 $0
Early retirement of long term debt ($8,000) $0 $0 $0 ($10,000) $0
Retirement of current debt $0 ($3,588) $0 $0 ($6,400) ($7,000)
Cash from current debt borrowing $0 $0 $0 $0 $0 $13,000
Cash from emergency loan $0 $0 $0 $0 $0 $0

Net cash from financing activities ($10,000) $11,412 $250 $13,775 ($16,400) $13,000

Net change in cash position ($169) $28,352 $6,159 $24,382 ($36,037) $10,485
Balance Sheet Survey Andrews Baldwin Chester Digby Erie Ferris
Cash $23,237 $28,352 $17,518 $58,420 $6,768 $38,106
Accounts Receivable $16,817 $4,496 $18,010 $20,050 $26,826 $17,558
Inventory $1,108 $0 $0 $325 $16,687 $13,563
Total Current Assets $41,163 $32,848 $35,528 $78,794 $50,281 $69,227

Plant and equipment $132,600 $94,100 $158,736 $173,800 $173,376 $189,800

Accumulated Depreciation ($77,373) ($40,147) ($86,286) ($95,955) ($73,908) ($95,242)
Total Fixed Assets $55,227 $53,953 $72,450 $77,845 $99,468 $94,558

Total Assets $96,389 $86,802 $107,977 $156,640 $149,749 $163,785

Accounts Payable $11,383 $3,129 $28,726 $13,121 $14,175 $11,569

Current Debt $12,773 $20,850 $20,850 $20,850 $10,850 $33,850
Total Current Liabilities $24,156 $23,979 $49,576 $33,971 $25,025 $45,419

Long Term Debt $29,126 $37,700 $42,267 $43,750 $38,900 $22,500

Total Liabilities $53,282 $61,679 $91,843 $77,721 $63,925 $67,919

Common Stock $29,131 $18,560 $21,830 $30,110 $46,862 $46,487

Retained Earnings $13,976 $6,563 ($5,696) $48,809 $38,962 $49,380
Total Equity $43,107 $25,123 $16,134 $78,919 $85,824 $95,866

Total Liabilities & Owners Equity $96,389 $86,802 $107,977 $156,640 $149,749 $163,785

Income Statement Survey Andrews Baldwin Chester Digby Erie Ferris

Sales $204,612 $82,053 $219,116 $243,944 $251,064 $213,624
Variable Costs(Labor,Material,Carry) $139,569 $45,481 $174,752 $160,875 $196,223 $140,122
Contribution Margin $65,043 $36,572 $44,364 $83,069 $54,841 $73,502
Depreciation $8,840 $6,273 $10,582 $11,587 $11,558 $12,653
SGA(R&D,Promo,Sales,Admin) $20,524 $9,731 $17,658 $20,806 $15,720 $15,273
Other(Fees,Writeoffs,TQM,Bonuses) $7,933 ($5,930) $2,513 $12,750 $6,950 $10,350
EBIT $27,746 $26,498 $13,611 $37,926 $20,613 $35,226
Interest(Short term,Long term) $5,756 $8,427 $8,720 $8,315 $6,289 $6,785
Taxes $7,697 $6,325 $1,712 $10,364 $5,013 $9,954
Profit Sharing $329 $282 $73 $462 $223 $444
Net Profit $13,965 $11,464 $3,106 $18,785 $9,087 $18,043
CAPSTONE ® COURIER Page 3
 Round: 6
Production Analysis C116353 Dec. 31, 2026

2nd
Shift Auto
Unit & mation Capacity
Primary Units Inven Revision Age Pfmn Size Material Labor Contr. Over- Next Next Plant
Name Segment Sold tory Date Dec.31 MTBF Coord Coord Price
Cost
Cost Marg. time Round Round Utiliz.
Able Trad 2,405 0 7/23/2026 1.5 14500 8.6 11.0 $23.89 $7.96 $8.08 33% 53% 6.0 1,500 152%
Acre Low 2,555 0 8/16/2024 6.5 12000 3.8 16.3 $16.09 $3.97 $7.83 26% 84% 6.5 1,400 182%
Adam High 1,261 46 9/24/2026 1.3 23500 13.3 6.8 $36.99 $13.34 $10.93 35% 65% 4.0 800 163%
Agape Size 1,109 0 6/23/2026 1.5 16000 7.8 5.6 $31.49 $10.28 $12.31 28% 87% 4.5 600 185%
Air High 654 0 8/9/2026 1.4 23500 13.0 7.5 $37.50 $13.01 $10.80 37% 89% 4.5 450 187%

Baker Low 1,970 0 6/2/2026 1.5 14300 7.9 13.5 $26.50 $6.80 $3.87 57% 0% 8.0 2,100 87%
Bold Pfmn 891 0 6/21/2026 1.4 27000 14.7 12.5 $33.49 $13.19 $12.80 23% 100% 4.0 650 198%

Cake Trad 3,409 0 9/6/2026 1.6 17500 8.2 11.8 $23.50 $9.05 $10.33 18% 100% 5.7 1,950 184%
Cedar Low 2,764 0 8/10/2026 2.6 14000 4.1 15.9 $17.30 $5.12 $7.60 26% 100% 7.1 1,590 184%
Coat Pfmn 1,216 0 8/18/2026 1.5 27000 13.6 12.9 $32.50 $13.83 $11.69 22% 100% 5.2 700 184%
Cure Size 1,106 0 8/14/2026 1.5 21000 7.1 7.3 $32.49 $11.65 $13.25 24% 100% 4.2 650 184%
Coffee Low 829 0 5/24/2026 1.5 14000 4.2 15.8 $19.00 $5.19 $13.35 2% 80% 4.0 650 166%

Daze Trad 1,943 19 6/28/2026 1.5 19000 9.2 10.8 $28.00 $9.32 $7.57 39% 0% 5.2 2,100 90%
Dell Low 2,376 0 4/26/2024 6.6 16000 3.1 17.0 $18.50 $4.54 $7.04 37% 71% 6.5 1,400 170%
Dixie High 1,337 0 8/5/2026 1.4 25000 14.0 6.7 $38.70 $13.81 $12.10 34% 50% 3.0 1,100 149%
Dot Pfmn 1,089 0 7/22/2026 1.4 27500 14.7 12.8 $34.00 $13.26 $10.80 30% 83% 4.2 900 182%
Dune Size 990 0 7/9/2026 1.5 21000 7.2 5.8 $34.49 $11.29 $12.43 32% 67% 4.0 900 165%
Droom Trad 792 0 6/3/2026 1.5 19000 9.3 10.7 $28.60 $9.38 $11.06 29% 14% 3.0 700 113%

Eat Trad 1,697 530 4/1/2027 3.1 19000 8.5 11.5 $26.99 $9.83 $7.73 30% 25% 5.7 1,200 124%
Ebb Low 2,780 0 2/10/2026 6.4 13000 3.8 16.1 $17.49 $4.71 $8.74 22% 100% 5.7 1,400 199%
Echo High 816 256 9/5/2026 1.3 25000 12.8 6.9 $37.99 $14.80 $13.03 24% 100% 3.1 740 199%
Edge Pfmn 1,291 0 5/15/2026 1.5 27000 14.4 12.5 $32.49 $14.47 $13.19 14% 100% 5.0 875 199%
Egg Size 1,072 0 6/25/2026 1.5 19000 7.6 5.9 $32.99 $11.95 $13.03 23% 100% 5.0 765 199%
EBB2 Low 1,104 0 2/10/2026 4.9 13000 4.5 15.5 $19.49 $5.17 $9.32 21% 0% 4.5 985 99%
EGO Trad 993 0 3/11/2026 2.3 17000 9.2 10.8 $26.99 $9.73 $13.19 15% 100% 4.7 750 199%

Fast Trad 1,735 66 6/25/2026 1.6 14000 8.9 11.0 $26.00 $7.78 $9.13 35% 0% 4.0 1,800 95%
Feat Low 2,282 0 5/11/2025 4.1 12000 4.0 16.0 $17.50 $4.06 $7.82 30% 0% 5.0 2,300 79%
Fist High 1,774 503 7/25/2026 1.4 25000 14.3 5.7 $39.00 $14.17 $10.64 35% 53% 4.0 2,500 152%
Foam Pfmn 594 0 6/15/2026 1.5 27000 15.0 12.0 $35.00 $13.34 $9.13 36% 0% 4.0 600 99%
Fume Size 594 0 6/11/2026 1.5 19000 7.9 5.0 $35.00 $11.17 $10.43 38% 0% 4.0 600 99%
Fruit High 445 0 7/7/2026 1.0 25000 13.9 6.2 $40.00 $13.88 $11.51 37% 28% 3.0 500 126%

CAPSTONE ® COURIER Page 4

Traditional Segment Analysis C116353 Round: 6
Dec. 31, 2026

Traditional Statistics
Total Industry Unit Demand 12,526
Actual Industry Unit Sales |12,526
Segment % of Total Industry |26.5%

Next Year's Segment Growth Rate |9.2%

Traditional Customer Buying Criteria
Expectations Importance
1. Age Ideal Age = 2.0 47%
2. Price $17.00 - 27.00 23%
3. Ideal Position Pfmn 9.2 Size 10.8 21%
4. Reliability MTBF 14000-19000 9%

Top Products in Traditional Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Able 18% 2,273 7/23/2026 YES 8.6 11.0 $23.89 14500 1.52 $1,800 90% $1,700 81% 50
Cake 18% 2,200 9/6/2026 YES 8.2 11.8 $23.50 17500 1.58 $1,150 81% $1,759 85% 44
Daze 16% 1,943 6/28/2026 9.2 10.8 $28.00 19000 1.47 $1,550 89% $1,643 83% 41
Fast 14% 1,732 6/25/2026 8.9 11.0 $26.00 14000 1.57 $1,000 79% $791 65% 37
Eat 14% 1,697 4/1/2027 8.5 11.5 $26.99 19000 3.12 $500 56% $1,260 85% 20
EGO 8% 993 3/11/2026 YES 9.2 10.8 $26.99 17000 2.30 $400 46% $819 85% 37
Baker 7% 895 6/2/2026 YES 7.9 13.5 $26.50 14300 1.54 $1,300 86% $2,050 88% 15
Droom 6% 792 6/3/2026 YES 9.3 10.7 $28.60 19000 1.45 $600 25% $365 83% 22

CAPSTONE ® COURIER Page 5

Low End Segment Analysis C116353 Round: 6
Dec. 31, 2026

Low End Statistics

Total Industry Unit Demand 17,404
Actual Industry Unit Sales |17,108
Segment % of Total Industry |36.8%

Next Year's Segment Growth Rate |11.7%

Low End Customer Buying Criteria
Expectations Importance
1. Price $12.00 - 22.00 53%
2. Age Ideal Age = 7.0 24%
3. Ideal Position Pfmn 4.7 Size 15.3 16%
4. Reliability MTBF 12000-17000 7%

Top Products in Low End Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Ebb 16% 2,780 2/10/2026 YES 3.8 16.1 $17.49 13000 6.39 $400 56% $819 77% 26
Cedar 16% 2,764 8/10/2026 YES 4.1 15.9 $17.30 14000 2.58 $1,100 76% $1,508 90% 21
Acre 15% 2,555 8/16/2024 YES 3.8 16.3 $16.09 12000 6.48 $1,700 85% $1,530 90% 43
Dell 14% 2,376 4/26/2024 YES 3.1 17.0 $18.50 16000 6.64 $1,550 87% $1,916 75% 10
Feat 13% 2,282 5/11/2025 YES 4.0 16.0 $17.50 12000 4.13 $1,400 84% $1,319 79% 25
Cake 7% 1,209 9/6/2026 YES 8.2 11.8 $23.50 17500 1.58 $1,150 45% $1,759 90% 0
EBB2 6% 1,104 2/10/2026 YES 4.5 15.5 $19.49 13000 4.87 $150 28% $756 77% 15
Baker 6% 1,075 6/2/2026 YES 7.9 13.5 $26.50 14300 1.54 $1,300 45% $2,050 64% 0
Coffee 5% 829 5/24/2026 YES 4.2 15.8 $19.00 14000 1.53 $1,150 42% $1,926 90% 11
Able 1% 131 7/23/2026 YES 8.6 11.0 $23.89 14500 1.52 $1,800 45% $1,700 90% 0
Fast 0% 2 6/25/2026 8.9 11.0 $26.00 14000 1.57 $1,000 45% $791 79% 0

CAPSTONE ® COURIER Page 6

High End Segment Analysis C116353 Round: 6
Dec. 31, 2026

High End Statistics

Total Industry Unit Demand 6,286
Actual Industry Unit Sales |6,286
Segment % of Total Industry |13.3%

Next Year's Segment Growth Rate |16.2%

High End Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 14.3 Size 5.7 43%
2. Age Ideal Age = 0.0 29%
3. Reliability MTBF 20000-25000 19%
4. Price $27.00 - 37.00 9%

Top Products in High End Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Fist 28% 1,774 7/25/2026 14.3 5.7 $39.00 25000 1.38 $1,500 91% $1,583 77% 38
Dixie 21% 1,337 8/5/2026 YES 14.0 6.7 $38.70 25000 1.36 $1,500 87% $1,825 75% 34
Adam 20% 1,261 9/24/2026 13.3 6.8 $36.99 23500 1.35 $1,520 85% $1,870 90% 41
Echo 13% 816 9/5/2026 12.8 6.9 $37.99 25000 1.31 $340 60% $1,071 54% 20
Air 10% 654 8/9/2026 YES 13.0 7.5 $37.50 23500 1.41 $1,500 72% $1,870 90% 24
Fruit 7% 445 7/7/2026 YES 13.9 6.2 $40.00 25000 1.02 $1,500 63% $528 77% 21

CAPSTONE ® COURIER Page 7

Performance Segment Analysis C116353 Round: 6
Dec. 31, 2026

Performance Statistics
Total Industry Unit Demand 5,662
Actual Industry Unit Sales |5,081
Segment % of Total Industry |12.0%

Next Year's Segment Growth Rate |19.8%

Performance Customer Buying Criteria
Expectations Importance
1. Reliability MTBF 22000-27000 43%
2. Ideal Position Pfmn 15.4 Size 11.8 29%
3. Price $22.00 - 32.00 19%
4. Age Ideal Age = 1.0 9%

Top Products in Performance Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Edge 25% 1,291 5/15/2026 YES 14.4 12.5 $32.49 27000 1.55 $500 61% $819 63% 34
Coat 24% 1,216 8/18/2026 YES 13.6 12.9 $32.50 27000 1.48 $800 80% $1,591 87% 36
Dot 21% 1,089 7/22/2026 YES 14.7 12.8 $34.00 27500 1.40 $1,300 85% $1,643 66% 31
Bold 18% 891 6/21/2026 YES 14.7 12.5 $33.49 27000 1.45 $1,600 95% $2,050 89% 41
Foam 12% 594 6/15/2026 YES 15.0 12.0 $35.00 27000 1.50 $500 68% $528 38% 17

CAPSTONE ® COURIER Page 8

Size Segment Analysis C116353 Round: 6
Dec. 31, 2026

Size Statistics
Total Industry Unit Demand 5,437
Actual Industry Unit Sales |4,871
Segment % of Total Industry |11.5%

Next Year's Segment Growth Rate |18.3%

Size Customer Buying Criteria
Expectations Importance
1. Ideal Position Pfmn 8.2 Size 4.6 43%
2. Age Ideal Age = 1.5 29%
3. Reliability MTBF 16000-21000 19%
4. Price $22.00 - 32.00 9%

Top Products in Size Segment

Units Cust. Cust. Dec.
Market Sold to Revision Stock Pfmn Size List Age Promo A
ware- Sales A

ccess-
Cust
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget n
ess Budget ibility
Survey
Agape 23% 1,109 6/23/2026 YES 7.8 5.6 $31.49 16000 1.51 $1,700 86% $1,530 71% 31
Cure 23% 1,106 8/14/2026 YES 7.1 7.3 $32.49 21000 1.54 $650 74% $1,591 83% 21
Egg 22% 1,072 6/25/2026 YES 7.6 5.9 $32.99 19000 1.49 $400 57% $756 57% 18
Dune 20% 990 7/9/2026 YES 7.2 5.8 $34.49 21000 1.45 $1,500 87% $1,734 70% 19
Fume 12% 594 6/11/2026 YES 7.9 5.0 $35.00 19000 1.52 $500 68% $528 39% 16

CAPSTONE ® COURIER Page 9

 Round: 6
Market Share C116353 Dec. 31, 2026

Actual Market Share in Units Potential Market Share in Units

Trad Low High Pfmn Size Total Trad Low High Pfmn Size Total
Industry Unit Sales 12,526 17,108 6,286 5,081 4,871 45,873 Units Demanded 12,526 17,404 6,286 5,662 5,437 47,315
% of Market 27.3% 37.3% 13.7% 11.1% 10.6% 100.0% % of Market 26.5% 36.8% 13.3% 12.0% 11.5% 100.0%

Able 18.1% 0.8% 5.2% Able 17.4% 4.6%

Acre 14.9% 5.6% Acre 27.3% 10.0%
Adam 20.1% 2.8% Adam 17.6% 2.3%
Agape 22.8% 2.4% Agape 28.0% 3.2%
Air 10.4% 1.4% Air 12.8% 1.7%
Total 18.1% 15.7% 30.4% 22.8% 17.4% Total 17.4% 27.4% 30.4% 28.0% 21.9%

Baker 7.1% 6.3% 4.3% Baker 6.6% 1.8%

Bold 17.5% 1.9% Bold 25.2% 3.0%
Total 7.1% 6.3% 17.5% 6.2% Total 6.6% 25.2% 4.8%

Cake 17.6% 7.1% 7.4% Cake 16.2% 0.4% 4.4%

Cedar 16.2% 6.0% Cedar 14.8% 5.4%
Coat 23.9% 2.6% Coat 22.4% 2.7%
Cure 22.7% 2.4% Cure 18.9% 2.2%
Coffee 4.9% 1.8% Coffee 7.0% 2.6%
Total 17.6% 28.1% 23.9% 22.7% 20.3% Total 16.2% 22.2% 22.4% 18.9% 17.3%

Daze 15.5% 4.2% Daze 14.3% 3.8%

Dell 13.9% 5.2% Dell 9.6% 3.5%
Dixie 21.3% 2.9% Dixie 19.5% 2.6%
Dot 21.4% 2.4% Dot 18.5% 2.2%
Dune 20.3% 2.2% Dune 17.1% 2.0%
Droom 6.3% 1.7% Droom 7.3% 1.9%
Total 21.8% 13.9% 21.3% 21.4% 20.3% 18.6% Total 21.6% 9.6% 19.5% 18.5% 17.1% 16.0%

Eat 13.6% 3.7% Eat 12.5% 3.3%

Ebb 16.3% 6.1% Ebb 16.6% 6.1%
Echo 13.0% 1.8% Echo 11.4% 1.5%
Edge 25.4% 2.8% Edge 23.4% 2.8%
Egg 22.0% 2.3% Egg 21.5% 2.5%
EBB2 6.5% 2.4% EBB2 8.8% 3.3%
EGO 7.9% 2.2% EGO 13.0% 3.4%
Total 21.5% 22.7% 13.0% 25.4% 22.0% 21.3% Total 25.5% 25.5% 11.4% 23.4% 21.5% 22.9%

Fast 13.8% 3.8% Fast 12.7% 3.4%

Feat 13.3% 5.0% Feat 15.3% 5.6%
Fist 28.2% 3.9% Fist 24.4% 3.2%
Foam 11.7% 1.3% Foam 10.4% 1.2%
Fume 12.2% 1.3% Fume 14.5% 1.7%
Fruit 7.1% 1.0% Fruit 14.3% 1.9%
Total 13.8% 13.4% 35.3% 11.7% 12.2% 16.2% Total 12.7% 15.3% 38.7% 10.4% 14.5% 17.0%

CAPSTONE ® COURIER Page 10

 Round: 6
Perceptual Map C116353 Dec. 31, 2026

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Able 8.6 11.0 7/23/2026 Baker 7.9 13.5 6/2/2026 Cake 8.2 11.8 9/6/2026
Acre 3.8 16.3 8/16/2024 Bold 14.7 12.5 6/21/2026 Cedar 4.1 15.9 8/10/2026
Adam 13.3 6.8 9/24/2026 Coat 13.6 12.9 8/18/2026
Agape 7.8 5.6 6/23/2026 Cure 7.1 7.3 8/14/2026
Air 13.0 7.5 8/9/2026 Coffee 4.2 15.8 5/24/2026

Digby Erie Ferris

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Daze 9.2 10.8 6/28/2026 Eat 8.5 11.5 4/1/2027 Fast 8.9 11.0 6/25/2026
Dell 3.1 17.0 4/26/2024 Ebb 3.8 16.1 2/10/2026 Feat 4.0 16.0 5/11/2025
Dixie 14.0 6.7 8/5/2026 Echo 12.8 6.9 9/5/2026 Fist 14.3 5.7 7/25/2026
Dot 14.7 12.8 7/22/2026 Edge 14.4 12.5 5/15/2026 Foam 15.0 12.0 6/15/2026
Dune 7.2 5.8 7/9/2026 Egg 7.6 5.9 6/25/2026 Fume 7.9 5.0 6/11/2026
Droom 9.3 10.7 6/3/2026 EBB2 4.5 15.5 2/10/2026 Fruit 13.9 6.2 7/7/2026
EGO 9.2 10.8 3/11/2026

CAPSTONE ® COURIER Page 11

 Round: 6
HR/TQM Report C116353 Dec. 31, 2026
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby Erie Ferris
Needed Complement 1,028 243 1,274 1,153 1,455 1,068
Complement 1,028 243 1,274 1,153 1,455 1,068
1st Shift Complement 597 166 645 825 845 939
2nd Shift Complement 431 77 629 328 610 129
Overtime Percent 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Turnover Rate 11.2% 9.1% 10.2% 10.2% 9.1% 10.0%
New Employees 275 22 484 352 133 107
Separated Employees 0 266 0 0 79 81
Recruiting Spend $0 $1,500 $0 $0 $3,000 $0
Training Hours 0 30 0 0 40 0
Productivity Index 100.0% 102.4% 100.0% 100.0% 110.2% 100.0%
Recruiting Cost $275 $55 $484 $352 $530 $107
Separation Cost $0 $1,330 $0 $0 $395 $405
Training Cost $0 $146 $0 $0 $1,164 $0
Total HR Admin Cost $275 $1,531 $484 $352 $2,089 $512
Labor Contract Next Year
Wages $28.77 $29.46 $29.56 $29.56 $28.48 $29.62
Benefits 2,678 2,678 2,728 2,702 2,752 2,755
Profit Sharing 2.3% 2.4% 2.3% 2.4% 2.4% 2.4%
Annual Raise 5.3% 5.4% 5.4% 5.4% 5.3% 5.4%
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 Erie Ferris
Process Mgt Budgets Last Year
CPI Systems $1,500 $0 $0 $1,200 $500 $1,000
VendorJIT $1,000 $0 $1,000 $1,200 $500 $1,000
Quality Initiative Training $1,000 $0 $0 $1,200 $500 $1,000
Channel Support Systems $1,000 $1,000 $0 $1,200 $500 $1,000
Concurrent Engineering $500 $1,000 $0 $1,200 $800 $1,000
UNEP Green Programs $1,000 $0 $0 $1,200 $800 $1,000

TQM Budgets Last Year

Benchmarking $500 $0 $0 $1,200 $800 $1,000
Quality Function Deployment Effort $1,000 $1,000 $1,000 $1,200 $800 $1,000
CCE/6 Sigma Training $1,000 $0 $500 $1,200 $800 $1,000
GEMI TQEM Sustainability Initiatives $500 $0 $0 $1,200 $800 $1,000
Total Expenditures $9,000 $3,000 $2,500 $12,000 $6,800 $10,000

Cumulative Impacts
Material Cost Reduction 8.79% 10.04% 1.64% 10.11% 0.35% 10.45%
Labor Cost Reduction 12.81% 12.59% 1.27% 11.98% 0.33% 12.28%
Reduction R&D Cycle Time 39.46% 39.47% 0.96% 38.16% 5.30% 40.01%
Reduction Admin Costs 21.17% 47.85% 36.12% 58.10% 4.98% 60.02%
Demand Increase 14.01% 6.97% 2.49% 12.77% 0.48% 13.14%

CAPSTONE ® COURIER Page 12

 Round: 6
Ethics Report C116353 Dec. 31, 2026
ETHICS SUMMARY
Other (Fees, Writeoffs, etc.) The actual dollar impact. Example, $120 means Other increased by $120.
Demand Factor The % of normal. 98% means demand fell 2%.
Material Cost Impact The % of normal. 104% means matieral costs rose 4%.
Admin Cost Impact The % of normal. 103% means admin costs rose 3%.
Productivity Impact The % of normal. 104% means productivity increased by 4%.
Awareness Impact The % of normal. 105% means normal awareness was multiplied by 1.05.
Accessibility Impact The % of normal. 98% means normal accessiblity was multiplied by 0.98.
Normal means the value that would have been produced if the problem had not been presented.

No Impact Andrews Baldwin Chester Digby Erie Ferris

Total
Other (Fees, Writeoffs, etc.) $0 $0 $0 $0 $0 $0 $0
Demand Factor 100% 100% 100% 100% 100% 100% 100%
Material Cost Impact 100% 100% 100% 100% 100% 100% 100%
Admin Cost Impact 100% 100% 100% 100% 100% 100% 100%
Productivity Impact 100% 100% 100% 100% 100% 100% 100%
Awareness Impact 100% 100% 100% 100% 100% 100% 100%
Accessibility Impact 100% 100% 100% 100% 100% 100% 100%

CAPSTONE ® COURIER Page 13

 Annual Report
Round: 6
Annual Report Erie C116353
Dec. 31, 2026
Balance Sheet
DEFINITIONS: Common Size: The common size column
simply represents each item as a percentage of total ASSETS 2026 2025
assets for that year. Cash: Your end-of-year cash Common
position. Accounts Receivable: Reflects the lag between
Size
delivery and payment of your products. Inventories: The Cash $6,768 4.5% $42,805
current value of your inventory across all products. A zero
Account Receivable $26,826 17.9% $27,049
indicates your company stocked out. Unmet demand
would, of course, fall to your competitors. Plant & Inventory $16,687 11.1% $19,277
Equipment: The current value of your plant. Accum Total Current Assets $50,281 33.6% $89,131
Deprec: The total accumulated depreciation from your
plant. Accts Payable: What the company currently owes
Plant & Equipment $173,376 116.0% $132,722
suppliers for materials and services. Current Debt: The
debt the company is obligated to pay during the next year Accumulated Depreciation ($73,908) -49.4% ($62,350)
of operations. It includes emergency loans used to keep Total Fixed Assets $99,468 66.4% $70,372
your company solvent should you run out of cash during Total Assets $149,749 100.0% $159,504
the year. Long Term Debt: The companys long term debt
is in the form of bonds, and this represents the total value LIABILITIES & OWNERS
of your bonds. Common Stock: The amount of capital
EQUITY
invested by shareholders in the company. Retained
Earnings: The profits that the company chose to keep Accounts Payable $14,175 9.5% $16,617
instead of paying to shareholders as dividends.
Current Debt $10,850 7.2% $6,400
Long Term Debt $38,900 26.0% $59,750
Total Liabilities $63,925 42.7% $82,767

Common Stock $46,862 31.3% $46,862

Retained Earnings $38,962 26.0% $29,875
Total Equity $85,824 57.3% $76,737
Total Liab. & O. Equity $149,749 100.0% $159,504

Cash Flow Statement

The Cash Flow Statement examines what happened in the Cash Account Cash Flows from Operating Activities 2026 2025
during the year. Cash injections appear as positive numbers and cash Net Income(Loss) $9,087 $5,437
withdrawals as negative numbers. The Cash Flow Statement is an excellent Depreciation $11,558 $8,848
tool for diagnosing emergency loans. When negative cash flows exceed Extraordinary gains/losses/writeoffs $0 $0
positives, you are forced to seek emergency funding. For example, if sales Accounts Payable ($2,442) $4,798
are bad and you find yourself carrying an abundance of excess inventory,
Inventory $2,590 ($2,209)
the report would show the increase in inventory as a huge negative cash
Accounts Receivable $223 ($5,778)
flow. Too much unexpected inventory could outstrip your inflows, exhaust
your starting cash and force you to beg for money to keep your company Net cash from operation $21,017 $11,097
afloat. Cash Flows from Investing Activities
Plant Improvements ($40,654) ($4,500)
Cash Flows from Financing Activities
Dividends paid $0 $0
Sales of common stock $0 $13,700
Purchase of common stock $0 $0
Cash from long term debt $0 $18,300
Retirement of long term debt ($20,850) $0
Change in current debt(net) $4,450 ($5,482)
Net cash from financing activities ($16,400) $26,518
Net change in cash position ($36,037) $33,115
Closing cash position $6,768 $42,805

Annual Report Page 14

 Round: 6
Annual Report Erie C116353
Dec. 31, 2026
2026 Income Statement
2026 Common
(Product Name) Eat Ebb Echo Edge Egg EBB2 EGO
Total
Size
Sales $45,810 $48,621 $31,013 $41,934 $35,374 $21,516 $26,796 $0 $251,064 100.0%
Variable Costs:
Direct Labor $13,496 $24,294 $10,634 $17,026 $13,968 $10,459 $13,097 $0 $102,973 41.0%
Direct Material $17,218 $13,800 $11,977 $18,840 $13,183 $6,503 $9,727 $0 $91,248 36.3%
Inventory Carry $1,152 $0 $851 $0 $0 $0 $0 $0 $2,002 0.8%
Total Variable $31,866 $38,094 $23,461 $35,866 $27,150 $16,961 $22,824 $0 $196,223 78.2%
Contribution Margin $13,944 $10,526 $7,552 $6,068 $8,223 $4,555 $3,972 $0 $54,841 21.8%
Period Costs:
Depreciation $2,304 $2,688 $908 $1,517 $1,326 $1,576 $1,240 $0 $11,558 4.6%
SG&A: R&D $1,000 $114 $689 $374 $488 $114 $193 $0 $2,970 1.2%
Promotions $500 $400 $340 $500 $400 $150 $400 $0 $2,690 1.1%
Sales $1,260 $819 $1,071 $819 $756 $756 $819 $0 $6,300 2.5%
Admin $686 $728 $464 $628 $530 $322 $401 $0 $3,759 1.5%
Total Period $5,750 $4,749 $3,472 $3,837 $3,499 $2,918 $3,053 $0 $27,278 10.9%
Net Margin $8,194 $5,778 $4,080 $2,231 $4,724 $1,637 $919 $0 $27,563 11.0%
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce the product Other $6,950 2.8%
that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation: Calculated on EBIT $20,613 8.2%
straight-line. 15-year depreciation of plant value. R&D Costs: R&D department expenditures for each Short Term Interest $1,367 0.5%
product. Admin: Administration overhead is estimated at 1.5% of sales. Promotions: The promotion budget Long Term Interest $4,922 2.0%
for each product. Sales: The sales force budget for each product. Other: Chargs not included in other Taxes $5,013 2.0%
categories such as Fees, Write offs, and TQM. The fees include money paid to investment bankers and Profit Sharing $223 0.1%
brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs Net Profit $9,087 3.6%
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 years current debt, including short term debt, long term notes that have
become due, and emergency loans, Long Term Interest: Interest paid on outstanding bonds. Taxes:
Income tax based upon a 35% tax rate. Profit Sharing: Profits shared with employees under the labor
contract. Net Profit: EBIT minus interest, taxes, and profit sharing.

Annual Report Page 15