Page 1 Front Page Page 5 Thrift Segment Analysis

Page 9 Market Share

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

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

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"
Round: 0 Ryan
Harvi
Dec. 31, 2017 e
Student: Ryan Harvie
Andrews Baldwin Chester
Ryan Harvie

Digby

Selected Financial Statistics

Andrews Baldwin Chester Digby

ROS 12.3% 5.7% 8.6% 9.2%
Asset Turnover 1.32 0.91 0.94 1.28
ROA 16.3% 5.1% 8.1% 11.8%
Leverage
1.7 2.7 2.4 1.9
(Assets/Equity)
ROE 28.3% 13.6% 19.2% 22.4%
Emergency Loan $0 $0 $0 $0
Sales $163,290,917 $131,509,995 $118,899,139 $119,521,454
EBIT $36,406,230 $21,673,289 $23,774,069 $21,589,617
Profits $20,101,345 $7,459,277 $10,204,711 $11,053,967
Cumulative Profit $0 $0 $0 $0
SG&A / Sales 7.9% 9.7% 11.2% 10.3%
Contrib. Margin % 34.1% 33.7% 38.8% 33.3%

COMP-XM® INQUIRER Page 1

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Round: 0
Stocks & Bonds <="" th=""> Ryan Harvie
December 31 , 2017
Stock Market Summary
MarketCap Book
Company Close Change Shares EPS Dividend Yield P/E
($M) Value
Andrews $95.38 $15.03 2,051,289 $196 $34.65 $9.80 $6.50 6.8% 9.7
Baldwin $44.50 $0.86 2,566,964 $114 $21.29 $2.91 $4.93 11.1% 15.3
Chester $53.17 $10.92 2,171,290 $115 $24.52 $4.70 $2.84 5.3% 11.3
Digby $55.73 $6.84 1,909,064 $106 $25.86 $5.79 $2.37 4.2% 9.6
 Bond Market Summary

Company Series# Face Yield Close$ S&P

Andrews
13.5S2019 $11,300,000 13.0% 103.58 BB
11.2S2024 $8,837,000 11.3% 99.07 BB
11.9S2025 $7,072,000 11.6% 102.54 BB

Baldwin
13.5S2019 $11,300,000 13.5% 100.17 C
11.3S2024 $10,417,600 12.4% 90.83 C
12.5S2025 $14,665,611 13.1% 95.74 C
12.5S2026 $7,987,653 13.1% 95.45 C
12.5S2027 $9,474,381 13.1% 95.19 C

Chester
13.5S2019 $11,300,000 13.4% 100.83 CC
11.2S2024 $8,607,404 12.2% 92.04 CC
12.4S2025 $5,756,951 12.8% 97.12 CC
11.9S2027 $15,689,911 12.7% 94.03 CC

Digby
13.5S2019 $11,300,000 13.2% 102.53 B
11.1S2026 $2,425,572 11.7% 95.20 B
11.2S2027 $5,785,949 11.7% 95.48 B

Next Year's Prime Rate 8.00%

COMP-XM® INQUIRER Page 2
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Round: 0
Financial Summary <="" th=""> Ryan Harvie
December 31, 2017
Cash Flow Statement Survey Andrews Baldwin Chester Digby
Cash flows from operating activities
Net Income (Loss) $20,101 $7,459 $10,205 $11,054
Adjustment for non-cash items:
Depreciation $6,455 $9,527 $8,293 $5,625
Extraordinary gains/losses/writeoffs $0 $0 $0 $0
Changes in current assets and liabilities:
Accounts payable $735 $1,457 $608 $930
Inventory ($11,353) ($2,758) $1,483 $249
Accounts receivable $23 ($1,032) ($961) ($1,776)
Net cash from operations $15,962 $14,653 $19,628 $16,082

Cash flows from investing activities

Plant improvements (net) ($3,520) ($15,800) ($26,642) ($6,500)
Cash flows from financing activities
Dividends paid ($13,333) ($12,653) ($6,163) ($4,520)
Sales of common stock $0 $0 $0 $0
Purchase of common stock ($1,935) $0 $0 ($1,902)
Cash from long term debt issued $0 $9,474 $15,690 $5,786
Early retirement of long term debt $0 $0 $0 $0
Retirement of current debt ($5,725) ($22,161) ($15,831) ($10,691)
Cash from current debt borrowing $8,184 $21,698 $19,608 $11,968
Cash from emergency loan $0 $0 $0 $0

Net cash from financing activities ($12,809) ($3,642) $13,304 $641

Net change in cash position ($367) ($4,789) $6,290 $10,223

Balance Sheet Survey Andrews Baldwin Chester Digby
Cash $31,543 $31,960 $32,632 $19,378
Accounts Receivable $13,421 $10,809 $9,773 $9,824
Inventory $26,149 $10,603 $6,437 $14,997
Total Current Assets $71,112 $53,372 $48,841 $44,199

Plant and equipment $96,824 $142,900 $124,400 $84,380

Accumulated Depreciation ($44,409) ($51,265) ($47,289) ($35,023)
Total Fixed Assets $52,415 $91,635 $77,111 $49,357

Total Assets $123,527 $145,007 $125,952 $93,556

Accounts Payable $9,516 $7,283 $5,797 $6,382

 Current Debt $15,717 $29,231 $25,558 $18,303
Long Term Debt $27,209 $53,845 $41,354 $19,512
Total Liabilities $52,443 $90,359 $72,709 $44,196

Common Stock $12,080 $24,690 $14,328 $9,091

Retained Earnings $59,004 $29,958 $38,915 $40,269
Total Equity $71,084 $54,648 $53,243 $49,360

Total Liabilities & Owners' Equity $123,527 $145,007 $125,952 $93,556

Income Statement Survey Andrews Baldwin Chester Digby

Sales $163,291 $131,510 $118,899 $119,521
Variable Costs (Labor, Material, Carry) $107,568 $87,126 $72,781 $79,695
Depreciation $6,455 $9,527 $8,293 $5,625
SGA (R&D, Promo, Sales, Admin) $12,833 $12,710 $13,266 $12,294
Other (Fees, Writeoffs, TQM, Bonuses) $29 $474 $784 $318
EBIT $36,406 $21,673 $23,774 $21,590
Interest (Short term, Long term) $4,850 $9,963 $7,754 $4,236
Taxes $11,045 $4,099 $5,607 $6,074
Profit Sharing $410 $152 $208 $226
Net Profit $20,101 $7,459 $10,205 $11,054
COMP-XM® INQUIRER Page 3
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Round: 0
Production Analysis <="" th=""> Ryan Harvie
December 31, 2017

Production Information
ision Date Age Dec.31 MTBF Pfmn Coord Size Coord Price Material Cost Labor Cost Contr. M
1/14/2017 1.1 26000 12.2 10.0 $42.00 $16.81 $9.80 3
4/13/2015 5.1 20000 4.7 15.3 $26.00 $8.13 $7.90 3
12/9/2016 2.2 22000 7.4 12.6 $32.00 $11.60 $8.96 3
11/9/2017 1.1 24000 10.1 8.0 $40.00 $16.13 $10.29 3

2/11/2017 2.8 17000 5.8 14.2 $19.00 $8.40 $4.03 4

2/19/2017 2.6 17000 6.0 14.0 $19.00 $8.61 $4.22 3
12/3/2017 1.2 18000 8.4 11.2 $27.00 $11.68 $7.38 3
1/19/2017 1.2 20000 9.1 11.7 $28.00 $12.39 $7.38 3

6/28/2018 3.5 14000 5.0 15.0 $20.00 $6.65 $2.82 5

1/30/2017 1.2 16000 7.6 12.4 $22.00 $10.01 $5.64 3
2/22/2017 1.1 18000 9.5 8.7 $31.00 $13.64 $6.24 3
11/5/2017 1.1 20000 11.5 10.5 $35.00 $14.36 $7.09 3

1/12/2017 2.2 23000 8.4 9.8 $30.00 $13.98 $9.50 2

2/13/2017 1.9 25000 11.6 10.6 $38.00 $15.87 $7.73 4
2/22/2017 1.0 23000 10.0 8.0 $37.00 $15.79 $8.50 3
12/5/2017 1.0 25000 12.0 10.0 $39.00 $16.39 $7.95 3

COMP-XM® INQUIRER Page 4

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Thrift Market Segment <="" Ryan
December 31,
Analysis th=""> Harvie
2017
Thrift Statistics

Total Industry Unit Demand

5,101Actual Industry Unit Sales 5,101
Segment % of Total Industry 27.0%

Thrift Customer Buying Criteria

Expectations Importanc
e
 1. Price $14.00 - 26.00 55%
2. Reliability MTBF 14000-20000 20%
3. Ideal Pfmn 5.5 Size 14.5 15%
Position
4. Age Ideal Age = 3.0 10%

Next Year's Segment Growth Rate 11.0%

Perceptual Map for Thrift Segment

Top Products in Thrift Segment

Units
Sold Cust. Cust. Dec.
Market to Revision Stock Pfmn Size List Age Promo Aware- Sales Access- Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget ness Budget ibility Survey
Bold 27% 1,401 12/19/2017 6.0 14.0 $19.00 17000 2.56 $1,050 63% $800 62% 30
Bid 23% 1,184 12/11/2017 5.8 14.2 $19.00 17000 2.76 $1,050 63% $1,000 62% 31
Cid 20% 1,040 6/28/2018 5.0 15.0 $20.00 14000 3.46 $950 52% $1,000 63% 18
Agape 16% 839 4/13/2015 4.7 15.3 $26.00 20000 5.11 $1,200 79% $2,000 74% 13
Coat 10% 516 11/30/2017 7.6 12.4 $22.00 16000 1.17 $950 52% $1,000 63% 6
Brat 1% 72 12/3/2017 8.4 11.2 $27.00 18000 1.21 $1,050 62% $600 62% 0
Bat 1% 48 11/19/2017 9.1 11.7 $28.00 20000 1.25 $1,050 63% $600 62% 0
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 Round: 0
Core Market Segment <="" Ryan
December 31,
Analysis th=""> Harvie
2017
Core Statistics

Total Industry Unit Demand

6,676Actual Industry Unit Sales 6,676
Segment % of Total Industry 35.3%

Core Customer Buying Criteria

Expectations Importanc
e
1. Price $20.00 - 32.00 46%
2. Age Ideal Age = 2.0 20%
3. Reliability MTBF 16000-22000 18%
4. Ideal Pfmn 7.6 Size 12.4 16%
Position

Next Year's Segment Growth Rate 10.0%

Perceptual Map for Core Segment

Top Products in Core Segment

Name Market Units Revision Stock Pfmn Size List MTBF Age Promo Cust. Sales Cust. Dec.
 Sold
to Aware- Access- Cust.
Share Seg Date Out Coord Coord Price Dec.31 Budget ness Budget ibility Survey
Coat 21% 1,369 11/30/2017 7.6 12.4 $22.00 16000 1.17 $950 52% $1,000 62% 33
Abby 18% 1,226 12/9/2016 7.4 12.6 $32.00 22000 2.24 $1,200 80% $1,000 85% 27
Bat 15% 986 11/19/2017 9.1 11.7 $28.00 20000 1.25 $1,050 63% $600 58% 18
Brat 15% 978 12/3/2017 8.4 11.2 $27.00 18000 1.21 $1,050 62% $600 58% 18
Cid 10% 690 6/28/2018 5.0 15.0 $20.00 14000 3.46 $950 52% $1,000 62% 9
Agape 8% 529 4/13/2015 4.7 15.3 $26.00 20000 5.11 $1,200 79% $2,000 85% 5
Dixie 6% 413 11/12/2017 8.4 9.8 $30.00 23000 2.19 $1,100 71% $400 22% 7
Bold 4% 270 12/19/2017 6.0 14.0 $19.00 17000 2.56 $1,050 63% $800 58% 27
Bid 2% 154 12/11/2017 5.8 14.2 $19.00 17000 2.76 $1,050 63% $1,000 58% 26
Cure 1% 54 12/22/2017 9.5 8.7 $31.00 18000 1.07 $950 53% $600 62% 0
Camp 0% 8 11/5/2017 11.5 10.5 $35.00 20000 1.12 $950 52% $1,300 62% 0
COMP-XM® INQUIRER Page 6
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Round: 0
Nano Market Segment <="" Ryan
December 31,
Analysis th=""> Harvie
2017
Nano Statistics

Total Industry Unit Demand

3,648Actual Industry Unit Sales 3,648
Segment % of Total Industry 19.3%

Nano Customer Buying Criteria

Expectations Importanc
e
1. Ideal Pfmn 9.5 Size 8.5 35%
Position
2. Price $28.00 - 40.00 27%
3. Age Ideal Age = 1.0 20%
4. Reliability MTBF 18000-24000 18%

Next Year's Segment Growth Rate 14.0%

 Perceptual Map for Nano Segment

Top Products in Nano Segment

Units
Sold Cust. Cust. Dec.
Market to Revision Stock Pfmn Size List Age Promo Aware- Sales Access- Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget ness Budget ibility Survey
Dune 18% 660 12/22/2017 10.0 8.0 $37.00 23000 1.04 $1,100 70% $1,200 81% 44
Adam 17% 630 11/9/2017 10.1 8.0 $40.00 24000 1.12 $1,200 78% $1,000 82% 42
Cure 13% 464 12/22/2017 9.5 8.7 $31.00 18000 1.07 $950 53% $600 66% 37
Dixie 12% 431 11/12/2017 8.4 9.8 $30.00 23000 2.19 $1,100 71% $400 81% 43
Abby 8% 296 12/9/2016 7.4 12.6 $32.00 22000 2.24 $1,200 80% $1,000 82% 10
Dart 7% 260 12/5/2017 12.0 10.0 $39.00 25000 1.05 $1,100 69% $1,200 81% 10
Bat 7% 240 11/19/2017 9.1 11.7 $28.00 20000 1.25 $1,050 63% $600 28% 20
Camp 6% 236 11/5/2017 11.5 10.5 $35.00 20000 1.12 $950 52% $1,300 66% 12
Brat 5% 183 12/3/2017 8.4 11.2 $27.00 18000 1.21 $1,050 62% $600 28% 15
Aft 4% 161 11/14/2017 12.2 10.0 $42.00 26000 1.09 $1,200 77% $1,000 82% 4
Dot 2% 90 12/13/2017 11.6 10.6 $38.00 25000 1.91 $1,100 72% $400 81% 13
COMP-XM® INQUIRER Page 7
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Round: 0
Elite Market Segment <="" Ryan
December 31,
Analysis th=""> Harvie
2017
 Elite Statistics

Total Industry Unit Demand

3,476Actual Industry Unit Sales 3,476
Segment % of Total Industry 18.4%

Elite Customer Buying Criteria

Expectations Importanc
e
1. Age Ideal Age = 0.0 34%
2. Price $30.00 - 42.00 24%
3. Ideal Pfmn 11.5 Size 10.5 22%
Position
4. Reliability MTBF 20000-26000 20%

Next Year's Segment Growth Rate 16.0%

Perceptual Map for Elite Segment

Top Products in Elite Segment

Units
Sold Cust. Cust. Dec.
Market to Revision Stock Pfmn Size List Age Promo Aware- Sales Access- Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget ness Budget ibility Survey
Aft 18% 611 11/14/2017 12.2 10.0 $42.00 26000 1.09 $1,200 77% $1,000 87% 39
Dart 17% 604 12/5/2017 12.0 10.0 $39.00 25000 1.05 $1,100 69% $1,200 81% 40
Camp 10% 360 11/5/2017 11.5 10.5 $35.00 20000 1.12 $950 52% $1,300 55% 25
Dot 10% 346 12/13/2017 11.6 10.6 $38.00 25000 1.91 $1,100 72% $400 81% 32
Abby 9% 306 12/9/2016 7.4 12.6 $32.00 22000 2.24 $1,200 80% $1,000 87% 8
Dune 9% 300 12/22/2017 10.0 8.0 $37.00 23000 1.04 $1,100 70% $1,200 81% 11
Adam 8% 291 11/9/2017 10.1 8.0 $40.00 24000 1.12 $1,200 78% $1,000 87% 11
Dixie 8% 282 11/12/2017 8.4 9.8 $30.00 23000 2.19 $1,100 71% $400 81% 22
Cure 5% 182 12/22/2017 9.5 8.7 $31.00 18000 1.07 $950 53% $600 55% 11
Bat 4% 141 11/19/2017 9.1 11.7 $28.00 20000 1.25 $1,050 63% $600 19% 11
Brat 2% 54 12/3/2017 8.4 11.2 $27.00 18000 1.21 $1,050 62% $600 19% 5
COMP-XM® INQUIRER Page 8
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Round: 0
Market Share Report <="" th=""> Ryan Harvie
December 31, 2017

Actual Market Share in Units Potential Market Share in Units

Thrift Core Nano Elite Total Thrift Core Nano Elite Total
Industry 5,101 6,676 3,648 3,476 18,902 Units
5,101 6,676 3,648 3,476 18,902
Unit Demanded
Sales % of
27.0%35.3%19.3%18.4% 100.0%
% of Market
27.0%35.3%19.3%18.4% 100.0%
Market
Aft 4.4%17.6% 4.1%
Aft 4.4%17.6% 4.1% Agape 16.3% 7.8% 7.1%
Agape 16.4% 7.9% 7.2% Abby 17.9% 8.1% 8.8% 9.5%
Abby 18.4% 8.1% 8.8% 9.7% Adam 17.3% 8.4% 4.9%
Adam 17.3% 8.4% 4.9% Total 16.3%25.7%29.8%34.7% 25.6%
Total 16.4%26.3%29.8%34.7% 25.9%
Bid 23.0% 2.3% 7.0%
Bid 23.2% 2.3% 7.1% Bold 27.2% 4.0% 8.8%
Bold 27.5% 4.0% 8.8% Brat 1.4%14.3% 5.0% 1.6% 6.7%
Brat 1.4%14.7% 5.0% 1.6% 6.8% Bat 0.9%14.4% 6.6% 4.0% 7.4%
Bat 0.9%14.8% 6.6% 4.0% 7.5% Total 52.4%35.0%11.6% 5.6% 29.8%
Total 53.0%35.8%11.6% 5.6% 30.2%
Cid 20.3%10.2% 9.1%
Cid 20.4%10.3% 9.2% Coat 11.0%22.2% 10.8%
Coat 10.1%20.5% 10.0% Cure 0.8%12.7% 5.2% 3.7%
Cure 0.8%12.7% 5.2% 3.7% Camp 0.1% 6.5%10.4% 3.2%
Camp 0.1% 6.5%10.4% 3.2% Total 31.3%33.2%19.2%15.6% 26.8%
Total 30.5%31.8%19.2%15.6% 26.0%
Dixie 6.1%11.8% 8.1% 5.9%
Dixie 6.2%11.8% 8.1% 6.0% Dot 2.5% 9.9% 2.3%
Dot 2.5% 9.9% 2.3% Dune 18.1% 8.6% 5.1%
Dune 18.1% 8.6% 5.1% Dart 7.1%17.4% 4.6%
Dart 7.1%17.4% 4.6% Total 6.0%39.5%44.0% 17.9%
Total 6.2%39.5%44.0% 17.9%
COMP-XM® INQUIRER Page 9
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Round: 0
Perceptual Map <="" th=""> Ryan Harvie
December 31, 2017
 Perceptual Map for All Segments

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised
Aft 12.2 10.0 11/14/2017 Bid 5.8 14.2 12/11/2017 Cid 5.0 15.0 6/28/2018
Agape 4.7 15.3 4/13/2015 Bold 6.0 14.0 12/19/2017 Coat 7.6 12.4 11/30/2017
Abby 7.4 12.6 12/9/2016 Brat 8.4 11.2 12/3/2017 Cure 9.5 8.7 12/22/2017
Adam 10.1 8.0 11/9/2017 Bat 9.1 11.7 11/19/2017 Camp 11.5 10.5 11/5/2017
Digby
Name Pfmn Size Revised
Dixie 8.4 9.8 11/12/2017
Dot 11.6 10.6 12/13/2017
Dune 10.0 8.0 12/22/2017
Dart 12.0 10.0 12/5/2017

COMP-XM® INQUIRER Page 10

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HR/TQM Report <="" th=""> Ryan Harvie
December 31, 2017
HUMAN RESOURCES SUMMARY
Andrews Baldwin Chester Digby
Needed Complement 804 539 398 483
Complement 804 539 398 483
1st Shift Complement 525 316 260 371
2nd Shift Complement 279 223 138 112

Overtime% 0.0% 0.0% 0.0% 0.0%

Turnover Rate 10.0% 8.2% 6.6% 10.0%
New Employees 140 112 54 92
Separated Employees 0 0 0 0
Recruiting Spend $0 $2,500 $5,000 $0
Training Hours 0 40 80 0
Productivity Index 100.0% 109.4% 117.6% 100.0%

Recruiting Cost $140 $390 $324 $92

Separation Cost $0 $0 $0 $0
Training Cost $0 $431 $637 $0
Total HR Admin Cost $140 $821 $962 $92

Labor Contract Next Year

Wages $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%

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
Process Mgt Budgets Last
Year
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

TQM Budgets Last Year

Benchmarking $0 $0 $0 $0
Quality Function
$0 $0 $0 $0
Deployment Effort
CCE/6 Sigma Training $0 $0 $0 $0
GEMI TQEM Sustainability
$0 $0 $0 $0
Initiatives
Total Expenditures $0 $0 $0 $0

Cumulative Impacts
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%
COMP-XM® INQUIRER Page 11
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 Annual Report
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Round: 0
Annual Report Andrews C59559
Dec. 31, 2017

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 $31,543 25.5% $31,910
Accounts Receivable $13,421 10.9% $13,445
Inventory $26,149 21.2% $14,796

Total Current
$71,113 57.6% $60,151
Assets

Plant & Equipment $96,824 78.4% $93,304

Accumulated
Depreciation ($44,409) -36.0% ($37,954)

Total Fixed
$52,415 42.4% $55,350
Assets

Total Assets $123,527 100.0% $115,500

LIABILITIES
& OWNERS'
EQUITY

Accounts Payable $9,516 7.7% $8,781

Current Debt $15,717 12.7% $5,725
Long Term Debt $27,209 22.0% $34,742

Total
$52,442 42.5% $49,248
Liabilities

Common Stock $12,080 9.8% $12,443

Retained Earnings $59,004 47.8% $53,808

Total Equity $71,084 57.5% $66,251

Total Liab. &

$123,527 100.0% $115,500
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
2017 2016
Operating Activities:
Net Income (Loss) $20,101 $21,787
Depreciation $6,455 $6,220
Extraordinary
$0 $0
gains/losses/writeoffs
Accounts Payable $735 $2,083
Inventory ($11,353) ($4,044)
$23 ($2,891)
Accounts Receivable
Net cash from
$15,962 $23,155
operations
Cash Flows from
Investing Activities:
Plant Improvements ($3,520) ($1,820)
Cash Flows from
Financing Activities:
Dividends Paid ($13,333) ($7,949)
Sales of Common Stock $0 $0
Purchase of Common
($1,935) ($541)
Stock
Cash from long term
$0 $0
debt
Retirement of long term
($7,533) $0
debt
Change in current debt $9,992 ($2,070)
(net)
Net cash from financing
($12,809) ($10,559)
activities
Net change in cash
($367) $10,776
position
Closing cash position $31,543 $31,910
 Annual Report Page 1
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Annual Report Andrews C59559
Dec. 31, 2017

Statement
20
Aft Agape Abby Adam Na Na Na Na
Tot
$32,408 $35,573 $58,475 $36,835 $0 $0 $0 $0 $163,2

$7,613 $10,805 $16,283 $9,424 $0 $0 $0 $0 $44,1

$12,553 $11,537 $21,869 $14,346 $0 $0 $0 $0 $60,3

$686 $1,491 $135 $826 $0 $0 $0 $0 $3,1

$20,852 $23,832 $38,288 $24,596 $0 $0 $0 $0 $107,5

$11,556 $11,741 $20,187 $12,239 $0 $0 $0 $0 $55,7

$1,047 $2,260 $2,080 $1,068 $0 $0 $0 $0 $6,4

$881 $0 $0 $869 $0 $0 $0 $0 $1,7
$1,200 $1,200 $1,200 $1,200 $0 $0 $0 $0 $4,8
$1,000 $2,000 $1,000 $1,000 $0 $0 $0 $0 $5,0
$255 $280 $460 $290 $0 $0 $0 $0 $1,2
$4,382 $5,740 $4,740 $4,426 $0 $0 $0 $0 $19,2
 $7,173 $6,001 $15,448 $7,813 $0 $0 $0 $0 $36,4

: Unit sales times list price. Direct Labor: Labor

roduce the product that was sold. Inventory Other $29 0.0%
ost to carry unsold goods in inventory. EBIT $36,406 22.3%
lculated on straight-line 15-year depreciation of Short Term
$1,493 0.9%
Costs: R&D department expenditures for each Interest
Administration overhead is estimated at 1.5% of LongTerm
$3,357 2.1%
: The promotion budget for each product. Sales: Interest
dget for each product. Other: Charges not Taxes $11,045 6.8%
categories such as Fees, Write Offs, and TQM. Profit Sharing $410 0.3%
money paid to investment bankers and brokerage Net Profit $20,101 12.3%
stocks or bonds plus consulting fees your
ssess. Write-offs include the loss you might
you sell capacity or liquidate inventory as the
ng a production line. If the amount appears as a
then you actually made money on the liquidation
entory. EBIT: Earnings Before Interest and Taxes.
est: Interest expense based on last year's current
ort term debt, long term notes that have become
cy loans. Long Term Interest: Interest paid on
. Taxes: Income tax based upon a 35% tax rate.
rofits shared with employees under the labor
it: EBIT minus interest, taxes, and profit sharing.
 Annual Report Page 2
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Annual Report
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Round: 0
Annual Report Baldwin C59559
Dec. 31, 2017

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 $31,960 22.0% $36,749
Accounts Receivable $10,809 7.5% $9,777
Inventory $10,603 7.3% $7,845

Total Current
$53,372 36.8% $54,371
Assets

Plant & Equipment $142,900 98.5% $127,100

Accumulated
Depreciation ($51,265) -35.4% ($41,738)

Total Fixed
$91,635 63.2% $85,362
Assets

Total Assets $145,007 100.0% $139,733

LIABILITIES
& OWNERS'
EQUITY

Accounts Payable $7,283 5.0% $5,826

Current Debt $29,231 20.2% $22,161
Long Term Debt $53,845 37.1% $51,904

Total
$90,359 62.3% $79,891
Liabilities

Common Stock $24,690 17.0% $24,690

Retained Earnings $29,958 20.7% $35,152

Total Equity $54,648 37.7% $59,842

Total Liab. &
$145,007 100.0% $139,733
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
2017 2016
Operating Activities:
Net Income (Loss) $7,459 $10,427
Depreciation $9,527 $8,473
Extraordinary
$0 $0
gains/losses/writeoffs
Accounts Payable $1,457 ($794)
Inventory ($2,758) $773
($1,032) ($552)
Accounts Receivable
Net cash from
$14,653 $18,327
operations
Cash Flows from
Investing Activities:
Plant Improvements ($15,800) ($18,592)
Cash Flows from
Financing Activities:
Dividends Paid ($12,653) ($8,888)
Sales of Common Stock $0 $0
Purchase of Common
$0 $0
Stock
Cash from long term
$9,474 $7,988
debt
Retirement of long term ($7,533) $0
 debt
Change in current debt $7,070 ($5,280)
(net)
Net cash from financing
($3,642) ($6,180)
activities
Net change in cash
($4,789) ($6,445)
position
Closing cash position $31,960 $36,749

Annual Report Page 1

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Annual Report Baldwin C59559
Dec. 31, 2017

Statement
20
Bid Bold Brat Bat Na Na Na Na
Tot
$25,420 $31,746 $34,751 $39,592 $0 $0 $0 $0 $131,5

$5,410 $7,092 $9,487 $10,570 $0 $0 $0 $0 $32,5

$9,376 $12,509 $14,436 $16,974 $0 $0 $0 $0 $53,2

$319 $409 $340 $205 $0 $0 $0 $0 $1,2

$15,105 $20,010 $24,263 $27,748 $0 $0 $0 $0 $87,1

$10,315 $11,736 $10,489 $11,844 $0 $0 $0 $0 $44,3

 $2,660 $3,167 $1,800 $1,900 $0 $0 $0 $0 $9,5
$958 $979 $936 $896 $0 $0 $0 $0 $3,7
$1,050 $1,050 $1,050 $1,050 $0 $0 $0 $0 $4,2
$1,000 $800 $600 $600 $0 $0 $0 $0 $3,0
$337 $421 $460 $524 $0 $0 $0 $0 $1,7
$6,004 $6,416 $4,846 $4,971 $0 $0 $0 $0 $22,2

$4,311 $5,321 $5,642 $6,873 $0 $0 $0 $0 $22,1

: Unit sales times list price. Direct Labor: Labor

roduce the product that was sold. Inventory Other $474 0.4%
ost to carry unsold goods in inventory. EBIT $21,673 16.5%
lculated on straight-line 15-year depreciation of Short Term
$3,245 2.5%
Costs: R&D department expenditures for each Interest
Administration overhead is estimated at 1.5% of LongTerm
$6,719 5.1%
: The promotion budget for each product. Sales: Interest
dget for each product. Other: Charges not Taxes $4,099 3.1%
categories such as Fees, Write Offs, and TQM. Profit Sharing $152 0.1%
money paid to investment bankers and brokerage Net Profit $7,459 5.7%
stocks or bonds plus consulting fees your
ssess. Write-offs include the loss you might
you sell capacity or liquidate inventory as the
ng a production line. If the amount appears as a
then you actually made money on the liquidation
entory. EBIT: Earnings Before Interest and Taxes.
est: Interest expense based on last year's current
ort term debt, long term notes that have become
cy loans. Long Term Interest: Interest paid on
. Taxes: Income tax based upon a 35% tax rate.
rofits shared with employees under the labor
it: EBIT minus interest, taxes, and profit sharing.
 Annual Report Page 2
PRINT

Annual Report
Top
Round: 0
Annual Report Chester C59559
Dec. 31, 2017

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 $32,632 25.9% $26,342
Accounts Receivable $9,773 7.8% $8,812
Inventory $6,437 5.1% $7,920

Total Current
$48,842 38.8% $43,074
Assets

Plant & Equipment $124,400 98.8% $97,758

Accumulated
Depreciation ($47,289) -37.5% ($38,996)

Total Fixed
$77,111 61.2% $58,762
Assets

Total Assets $125,952 100.0% $101,836

LIABILITIES
& OWNERS'
EQUITY

Accounts Payable $5,797 4.6% $5,189

Current Debt $25,558 20.3% $15,831
Long Term Debt $41,354 32.8% $31,615
Total
$72,709 57.7% $52,635
Liabilities

Common Stock $14,328 11.4% $14,328

Retained Earnings $38,915 30.9% $34,873

Total Equity $53,243 42.3% $49,201

Total Liab. &

$125,952 100.0% $101,836
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
2017 2016
Operating Activities:
Net Income (Loss) $10,205 $10,587
Depreciation $8,293 $6,517
Extraordinary
$0 ($3)
gains/losses/writeoffs
Accounts Payable $608 $796
Inventory $1,483 $1,744
($961) ($1,879)
Accounts Receivable
Net cash from
$19,628 $17,762
operations
Cash Flows from
Investing Activities:
Plant Improvements ($26,642) ($2,800)
 Cash Flows from
Financing Activities:
Dividends Paid ($6,163) ($4,256)
Sales of Common Stock $0 $0
Purchase of Common
$0 $0
Stock
Cash from long term
$15,690 $0
debt
Retirement of long term
($5,951) ($1,580)
debt
Change in current debt $9,728 ($6,017)
(net)
Net cash from financing
$13,304 ($11,853)
activities
Net change in cash
$6,290 $3,109
position
Closing cash position $32,632 $26,342

Annual Report Page 1

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Annual Report Chester C59559
Dec. 31, 2017

Statement
20
Cid Coat Cure Camp Na Na Na Na
Tot
$34,598 $41,476 $21,689 $21,136 $0 $0 $0 $0 $118,8

$4,874 $10,609 $4,401 $4,326 $0 $0 $0 $0 $24,2

$12,102 $18,096 $9,177 $8,423 $0 $0 $0 $0 $47,7
 $26 $26 $375 $346 $0 $0 $0 $0 $7
$17,003 $28,731 $13,952 $13,095 $0 $0 $0 $0 $72,7

$17,595 $12,745 $7,737 $8,041 $0 $0 $0 $0 $46,1

$2,800 $2,607 $1,500 $1,387 $0 $0 $0 $0 $8,2

$1,000 $928 $988 $857 $0 $0 $0 $0 $3,7
$950 $950 $950 $950 $0 $0 $0 $0 $3,8
$1,000 $1,000 $600 $1,300 $0 $0 $0 $0 $3,9
$522 $626 $327 $319 $0 $0 $0 $0 $1,7
$6,272 $6,110 $4,365 $4,813 $0 $0 $0 $0 $21,5

$11,323 $6,635 $3,372 $3,228 $0 $0 $0 $0 $24,5

: Unit sales times list price. Direct Labor: Labor

roduce the product that was sold. Inventory Other $784 0.7%
ost to carry unsold goods in inventory. EBIT $23,774 20.0%
lculated on straight-line 15-year depreciation of Short Term
$2,684 2.3%
Costs: R&D department expenditures for each Interest
Administration overhead is estimated at 1.5% of LongTerm
$5,070 4.3%
: The promotion budget for each product. Sales: Interest
dget for each product. Other: Charges not Taxes $5,607 4.7%
categories such as Fees, Write Offs, and TQM. Profit Sharing $208 0.2%
money paid to investment bankers and brokerage Net Profit $10,205 8.6%
stocks or bonds plus consulting fees your
ssess. Write-offs include the loss you might
you sell capacity or liquidate inventory as the
ng a production line. If the amount appears as a
then you actually made money on the liquidation
entory. EBIT: Earnings Before Interest and Taxes.
est: Interest expense based on last year's current
ort term debt, long term notes that have become
cy loans. Long Term Interest: Interest paid on
. Taxes: Income tax based upon a 35% tax rate.
rofits shared with employees under the labor
it: EBIT minus interest, taxes, and profit sharing.
 Annual Report Page 2
PRINT

Annual Report
Top
Round: 0
Annual Report Digby C59559
Dec. 31, 2017

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 $19,378 20.7% $9,156
Accounts Receivable $9,824 10.5% $8,048
Inventory $14,997 16.0% $15,246

Total Current
$44,199 47.2% $32,450
Assets

Plant & Equipment $84,380 90.2% $77,880

Accumulated
Depreciation ($35,023) -37.4% ($29,397)

Total Fixed
$49,357 52.8% $48,483
Assets

Total Assets $93,556 100.0% $80,932

LIABILITIES
& OWNERS'
EQUITY

Accounts Payable $6,382 6.8% $5,452

Current Debt $18,303 19.6% $10,691
Long Term Debt $19,512 20.9% $20,061

Total
$44,197 47.2% $36,204
Liabilities

Common Stock $9,091 9.7% $9,494

Retained Earnings $40,269 43.0% $35,234

Total Equity $49,360 52.8% $44,728

Total Liab. &

$93,556 100.0% $80,932
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
2017 2016
Operating Activities:
Net Income (Loss) $11,054 $7,859
Depreciation $5,625 $5,192
Extraordinary
$0 $0
gains/losses/writeoffs
Accounts Payable $930 ($351)
Inventory $249 ($3,818)
 ($1,776) $470
Accounts Receivable
Net cash from operations $16,082 $9,352
Cash Flows from
Investing Activities:
Plant Improvements ($6,500) ($12,220)
Cash Flows from
Financing Activities:
Dividends Paid ($4,520) ($4,034)
Sales of Common Stock $0 $0
Purchase of Common
($1,902) ($1,157)
Stock
Cash from long term
$5,786 $2,426
debt
Retirement of long term
($6,335) $0
debt
Change in current debt $7,612 $731
(net)
Net cash from financing
$641 ($2,034)
activities
Net change in cash
$10,223 ($4,902)
position
Closing cash position $19,378 $9,156

Annual Report Page 1

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Round: 0
Annual Report Digby C59559
Dec. 31, 2017

Statement
20
Dixie Dot Dune Dart Na Na Na Na
Tot
 $33,798 $16,537 $35,490 $33,696 $0 $0 $0 $0 $119,5

$10,426 $3,352 $8,268 $6,999 $0 $0 $0 $0 $29,0

$14,542 $6,083 $14,547 $13,678 $0 $0 $0 $0 $48,8

$241 $388 $614 $556 $0 $0 $0 $0 $1,8

$25,210 $9,822 $23,429 $21,233 $0 $0 $0 $0 $79,6

$8,589 $6,714 $12,060 $12,463 $0 $0 $0 $0 $39,8

$1,292 $1,213 $1,473 $1,647 $0 $0 $0 $0 $5,6

$876 $963 $988 $939 $0 $0 $0 $0 $3,7
$1,100 $1,100 $1,100 $1,100 $0 $0 $0 $0 $4,4
$400 $400 $1,200 $1,200 $0 $0 $0 $0 $3,2
$262 $128 $276 $262 $0 $0 $0 $0 $9
$3,930 $3,804 $5,037 $5,147 $0 $0 $0 $0 $17,9

$4,658 $2,910 $7,024 $7,316 $0 $0 $0 $0 $21,9

: Unit sales times list price. Direct Labor: Labor

roduce the product that was sold. Inventory Other $318 0.3%
ost to carry unsold goods in inventory. EBIT $21,590 18.1%
lculated on straight-line 15-year depreciation of Short Term
$1,794 1.5%
Costs: R&D department expenditures for each Interest
Administration overhead is estimated at 1.5% of LongTerm
$2,443 2.0%
: The promotion budget for each product. Sales: Interest
dget for each product. Other: Charges not Taxes $6,074 5.1%
categories such as Fees, Write Offs, and TQM. Profit Sharing $226 0.2%
money paid to investment bankers and brokerage Net Profit $11,054 9.2%
stocks or bonds plus consulting fees your
ssess. Write-offs include the loss you might
you sell capacity or liquidate inventory as the
ng a production line. If the amount appears as a
then you actually made money on the liquidation
entory. EBIT: Earnings Before Interest and Taxes.
est: Interest expense based on last year's current
ort term debt, long term notes that have become
cy loans. Long Term Interest: Interest paid on
. Taxes: Income tax based upon a 35% tax rate.
rofits shared with employees under the labor
it: EBIT minus interest, taxes, and profit sharing.

Annual Report Page 2