Page 1 Front Page Page 5 Thrift Segment Analysis Page 9 Market Share

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

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

Print

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Round 3
Dec. 31 2026 152_Debajit
Report Das

Andrews Baldwin Chester

152_Debajit Das

Digby

Selected Financial Statistics

Andrews Baldwin Chester Digby

ROS 13.6% -3.4% 8.6% -0.3%

Asset Turnover 1.21 0.67 1.08 0.68

ROA 16.5% -2.3% 9.3% -0.2%

Leverage (Assets/Equity) 1.6 2.5 1.9 2.6

ROE 26.5% -5.8% 17.3% -0.5%

Emergency Loan $0 $0 $0 $0

Sales $295,077,145 $148,591,929 $147,125,258 $136,742,619

EBIT $72,873,459 $8,261,661 $26,068,570 $14,113,932

Profits $40,139,816 ($5,118,410) $12,640,165 ($360,410)

Cumulative Profit $55,164,681 ($3,624,162) $37,856,677 $2,506,951

SG&A / Sales 11.9% 14.4% 8.8% 9.8%

Contrib. Margin % 43.8% 36.7% 37.4% 35.9%

Percent Of Sales $ Market Share

125%
Digby
18.8 %
100%

Other
SGA
75% Depr Andrews
Var Costs 40.6 %
Profit
50%

Chester
25% 20.2 %

0%

-25% Baldwin
Andrews Baldwin Chester Digby 20.4 %

Market Share information is provided on Page 7.

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Round 3
Stocks & Bonds 152_Debajit Das Dec. 31 2026

Stock Market Summary

Company Close Change Shares MarketCap($M) Book Value Per Share EPS Dividend Yield P/E

Andrews $120.42 $55.76 2,504,268 $302 $60.41 $16.03 $2.00 1.7% 7.5

Baldwin $22.42 ($7.44) 3,245,375 $73 $27.18 ($1.58) $0.00 0.0% -14.2

Chester $77.99 $4.15 1,877,221 $146 $38.86 $6.73 $2.71 3.5% 11.6

Digby $23.87 ($2.33) 3,226,952 $77 $24.12 ($0.11) $0.00 0.0% -215.7

Closing Stock Price Andrews

Baldwin
$150
Chester
Digby

$125

$100

$75

$50

$25

$0
2019 2020 2021 2022 2023 2024 2025 2026 2027

Bond Market Summary

Company Series# Face Yield Close$ S&P

Andrews

11.2S2030 $8,837,000 11.4% 97.87 A

11.9S2031 $7,072,000 11.9% 100.00 A

11.4S2034 $14,722,000 11.7% 97.51 A

11.3S2035 $10,000,000 11.7% 96.79 A

11.6S2036 $45,000,000 11.8% 98.30 A

Baldwin

11.2S2030 $8,639,846 12.3% 91.02 CC

12.4S2031 $5,828,840 13.3% 93.52 CC

11.9S2033 $15,600,742 13.3% 89.80 CC

13.0S2034 $17,783,553 13.8% 94.03 CC

13.7S2035 $35,408,855 14.1% 97.06 CC

13.8S2036 $16,890,324 14.2% 97.42 CC

Chester

11.1S2032 $2,504,080 12.0% 92.78 BB

11.2S2033 $5,675,277 12.1% 92.46 BB

12.0S2034 $1,307,561 12.5% 95.67 BB

12.3S2035 $15,376,489 12.7% 96.91 BB

12.4S2036 $5,983,993 12.7% 97.28 BB

Digby

11.3S2030 $10,417,600 12.4% 91.31 CC

12.5S2031 $14,665,611 13.3% 93.87 CC

12.5S2032 $7,981,720 13.4% 93.06 CC

12.5S2033 $9,473,587 13.5% 92.35 CC

13.4S2034 $14,407,694 14.0% 95.87 CC

14.0S2035 $23,965,172 14.2% 98.53 CC

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 Company Series# Face Yield Close$ S&P

14.1S2036 $3,692,901 14.2% 98.97 CC

Next Year's Prime Rate 9%

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Round 3
Financial Summary 152_Debajit Das Dec. 31 2026

Cash Flow Statement Survey

Andrews Baldwin Chester Digby
Cash flows from operating activities
Net Income (Loss) $40,140 ($5,118) $12,640 ($360)
Adjustment for non-cash items:
Depreciation $14,913 $17,283 $9,371 $15,380
Extraordinary gains/losses/writeoffs $0 $0 $0 $0
Changes in current assets and liabilities:
Accounts payable $748 $3,085 $3,005 $1,367
Inventory ($1,320) ($19,226) ($30,720) ($17,507)
Accounts receivable ($24,042) ($1,406) $644 $1,032
Net cash from operations $30,438 ($5,383) ($5,060) ($89)

Cash flows from investing activities

Plant improvements (net) ($51,488) ($43,480) ($28,000) ($23,600)
Cash flows from financing activities
Dividends paid ($5,009) $0 ($5,085) $0
Sales of common stock $10,000 $16,149 $0 $9,130
Purchase of common stock $0 $0 ($1,498) $0
Cash from long term debt issued $45,000 $16,890 $5,984 $3,693
Early retirement of long term debt $0 $0 $0 $0
Retirement of current debt ($21,300) ($31,304) ($27,920) ($39,101)
Cash from current debt borrowing $0 $24,963 $22,923 $28,895
Cash from emergency loan $0 $0 $0 $0

Net cash from financing activities $28,691 $26,699 ($5,596) $2,616

Net change in cash position $7,641 ($22,164) ($38,656) ($21,073)

Balance Sheet Survey

Andrews Baldwin Chester Digby
Cash $48,701 $18,026 $11,310 $32,641
Accounts Receivable $48,506 $12,213 $12,092 $11,239
Inventory $1,320 $20,443 $30,720 $17,507
Total Current Assets $98,527 $50,683 $54,122 $61,388

Plant and equipment $223,688 $259,240 $140,560 $230,700

Accumulated Depreciation ($78,436) ($87,482) ($58,161) ($92,289)
Total Fixed Assets $145,252 $171,758 $82,399 $138,411

Total Assets $243,779 $222,440 $136,521 $199,799

Accounts Payable $6,866 $9,110 $9,794 $8,475

Current Debt $0 $24,963 $22,923 $28,895
Total Current Liabilities $6,866 $34,073 $32,717 $37,370

Long Term Debt $85,631 $100,152 $30,847 $84,604

Total Liabilities $92,497 $134,226 $63,563 $121,975

Common Stock $49,080 $53,036 $9,523 $45,322

Retained Earnings $102,202 $35,179 $63,434 $32,502
Total Equity $151,282 $88,215 $72,958 $77,824

Total Liabilities & Owner's Equity $243,779 $222,440 $136,521 $199,799

Income Statement Survey

Andrews Baldwin Chester Digby
Sales $295,077 $148,592 $147,125 $136,743
Variable Costs (Labor, Material, Carry) $165,918 $94,066 $92,121 $87,710
Contribution Margin $129,159 $54,526 $55,004 $49,033
Depreciation $14,913 $17,283 $9,371 $15,380
SGA (R&D, Promo, Sales, Admin) $35,123 $21,329 $12,994 $13,397
Other (Fees, Writeoffs, TQM, Bonuses $6,250 $7,652 $6,572 $6,141
EBIT $72,873 $8,262 $26,069 $14,114
Interest (Short term, Long term) $9,860 $16,136 $6,225 $14,668
Taxes $22,055 ($2,756) $6,945 ($194)
Profit Sharing $819 $0 $258 $0
Net Profit $40,140 ($5,118) $12,640 ($360)

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Round 3
Production Analysis 152_Debajit Das Dec. 31 2026

Production Capacity

Andrews

Baldwin

Chester

Digby

0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 5,500 6,000 6,500 7,000 7,500 8,000 8,500 9,000 9,…

Capacity Production

Andrews Baldwin Chester Digby

Units Produced 9,033 7,885 5,594 8,367

Production Information
Capacity
Primary Units Unit Revision Age Pfmn Size Material Labor Contr. 2nd Shift & Automation Next Plant
Name Segment Sold Inventory Date Dec.31 MTBF Coord Coord Price Cost Cost Marg. Overtime Next Round Round Utiliz.

Art Elite 1,153 65 8/16/2026 1.4 26000 16.6 6.3 $40.50 $13.63 $6.76 50% 50% 7.0 814 150%

Ant Thrift 1,968 0 8/10/2026 1.8 20000 8.8 11.2 $21.50 $7.34 $4.12 47% 60% 9.0 1,230 160%

Ace Core 1,948 0 10/15/2026 1.4 22000 11.8 8.2 $27.50 $10.05 $5.18 46% 30% 8.0 1,500 130%

Axe Nano 1,288 0 7/22/2026 1.6 24000 13.7 4.0 $38.50 $12.85 $6.61 50% 39% 7.0 928 139%

All Nano 999 0 10/3/2026 1.0 24000 13.4 4.3 $38.50 $12.64 $11.55 38% 100% 5.0 700 200%

Arm Elite 799 0 10/5/2026 1.0 26000 16.2 6.7 $40.50 $13.34 $11.55 40% 100% 5.0 600 200%

Anti Elite 393 0 5/4/2026 0.7 26000 16.6 6.3 $40.50 $13.63 $14.44 30% 100% 4.0 500 131%

Also Nano 420 0 4/18/2026 0.7 24000 13.7 4.0 $38.50 $12.85 $14.44 29% 100% 4.0 500 140%

Bam Thrift 929 330 12/20/2026 2.2 14000 9.3 10.7 $17.00 $6.82 $1.76 52% 0% 10.0 1,250 91%

Bell Core 1,749 339 12/6/2024 3.1 16000 10.2 9.8 $19.00 $8.14 $4.01 33% 40% 10.0 1,500 139%

Bit Nano 881 307 12/17/2026 1.0 18000 13.7 3.6 $30.00 $12.74 $6.82 33% 50% 7.0 850 149%

Bolt Elite 567 275 12/17/2026 1.0 20000 16.8 6.1 $36.00 $13.59 $6.04 43% 6% 7.0 800 105%

Buzz Core 1,470 115 12/25/2026 0.9 16000 11.6 8.3 $21.00 $9.31 $5.49 31% 54% 8.0 1,040 152%

Brat Core 993 60 2/10/2026 0.9 16000 11.3 8.7 $22.00 $9.03 $4.37 38% 100% 8.0 1,040 176%

Cat Nano 1,298 385 11/5/2026 1.2 23000 14.3 3.7 $34.00 $13.66 $7.91 36% 100% 7.0 1,050 198%

Cell Elite 892 247 8/24/2026 1.9 25000 17.1 5.7 $34.00 $14.56 $6.70 36% 53% 7.0 750 152%

City Nano 940 447 7/3/2026 1.3 23000 14.8 3.2 $37.00 $14.04 $7.36 39% 47% 7.0 1,100 146%

Cozy Elite 1,024 362 7/25/2026 1.3 25000 16.9 5.4 $37.00 $14.57 $7.25 39% 40% 7.0 1,100 139%

Daft Thrift 1,902 326 6/10/2027 3.7 17000 8.6 11.4 $16.00 $6.80 $3.03 36% 67% 10.0 1,450 165%

Deal Thrift 1,978 299 6/10/2027 3.6 17000 8.8 11.2 $16.00 $6.96 $2.97 35% 53% 10.0 1,500 152%

Dim Core 1,469 362 12/16/2025 2.1 18000 11.7 7.7 $24.00 $9.72 $4.61 37% 76% 8.0 1,150 174%

Dome Core 1,641 389 12/18/2025 2.1 20000 12.4 8.2 $24.00 $10.36 $4.53 35% 64% 8.0 1,350 162%

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Thrift Market Segment Round 3
Analysis 152_Debajit Das Dec. 31 2026

Thrift Statisitcs Accessibility Thrift

Total Industry Unit Demand 6,978

Actual Industry Unit Sales 6,978

Andrews
Segment % of Total Industry 26.1%

Next Year's Segment Growth Rate 11%

Baldwin
Thrift Customer Buying Criteria
Expectations Importance

1. Price $14.00 - 26.00 55% Chester

2. Reliability MTBF 14000-20000 20%

3. Ideal Position Pfmn 8.8 Size 11.2 15%

4. Age Ideal Age = 3.0 10%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Thrift Actual vs Potential Market Share Thrift

20 60%

18
50%
16

14 40%

12 Daft
Deal
Ant
Bam
Bell 30%
Size

10
Brat
Buzz
Ace
8
20%

10%
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Thrift Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Daft 25% 1,732 6/10/2027 8.6 11.4 $16.00 17000 3.74 $1,250 78% $1,400 75% 54

Deal 25% 1,721 6/10/2027 8.8 11.2 $16.00 17000 3.64 $1,250 79% $1,400 75% 55

Ant 22% 1,561 8/10/2026 YES 8.8 11.2 $21.50 20000 1.82 $1,400 100% $2,000 90% 53

Bam 13% 907 12/20/2026 9.3 10.7 $17.00 14000 2.25 $1,140 66% $1,000 72% 31

Bell 10% 692 12/6/2024 10.2 9.8 $19.00 16000 3.11 $1,140 67% $1,000 72% 24

Buzz 3% 184 12/25/2026 11.6 8.3 $21.00 16000 0.88 $1,140 58% $900 72% 0

Ace 2% 152 10/15/2026 YES 11.8 8.2 $27.50 22000 1.39 $1,400 100% $2,000 90% 0

Brat 0% 29 2/10/2026 11.3 8.7 $22.00 16000 0.89 $1,140 51% $900 72% 3

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Round 3
Core Market Segment Analysis 152_Debajit Das Dec. 31 2026

Core Statisitcs Accessibility Core

Total Industry Unit Demand 8,889

Actual Industry Unit Sales 8,889

Andrews
Segment % of Total Industry 33.3%

Next Year's Segment Growth Rate 10%

Baldwin
Core Customer Buying Criteria
Expectations Importance

1. Price $20.00 - 32.00 46% Chester

2. Age Ideal Age = 2.0 20%

3. Reliability MTBF 16000-22000 18%

4. Ideal Position Pfmn 11.8 Size 8.2 16%

Digby

0% 10% 20% 30% 40% 50% 60% 70% 80%

Perceptual Map For Core Actual vs Potential Market Share Core

20 50%

18

16 40%

14

Daft 30%
12 Deal
Ant
Bam
Bell
Size

10
Brat
Buzz
Ace
Dome 20%
Dim
8

6
All 10%
Cat
4

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Core Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Ace 20% 1,751 10/15/2026 YES 11.8 8.2 $27.50 22000 1.39 $1,400 100% $2,000 72% 57

Dome 18% 1,578 12/18/2025 12.4 8.2 $24.00 20000 2.1 $1,250 78% $1,100 76% 50

Dim 16% 1,394 12/16/2025 11.7 7.7 $24.00 18000 2.09 $1,250 78% $1,100 76% 44

Buzz 14% 1,286 12/25/2026 11.6 8.3 $21.00 16000 0.88 $1,140 58% $900 72% 38

Bell 12% 1,058 12/6/2024 10.2 9.8 $19.00 16000 3.11 $1,140 67% $1,000 72% 26

Brat 11% 964 2/10/2026 11.3 8.7 $22.00 16000 0.89 $1,140 51% $900 72% 31

Ant 5% 406 8/10/2026 YES 8.8 11.2 $21.50 20000 1.82 $1,400 100% $2,000 72% 13

Deal 3% 257 6/10/2027 8.8 11.2 $16.00 17000 3.64 $1,250 79% $1,400 76% 2

Daft 2% 170 6/10/2027 8.6 11.4 $16.00 17000 3.74 $1,250 78% $1,400 76% 0

Bam 0% 21 12/20/2026 9.3 10.7 $17.00 14000 2.25 $1,140 66% $1,000 72% 8

Cat 0% 3 11/5/2026 14.3 3.7 $34.00 23000 1.24 $1,350 87% $1,000 11% 0

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Round 3
Nano Market Segment Analysis 152_Debajit Das Dec. 31 2026

Nano Statisitcs Accessibility Nano

Total Industry Unit Demand 5,407

Actual Industry Unit Sales 5,407

Andrews
Segment % of Total Industry 20.3%

Next Year's Segment Growth Rate 14%

Baldwin
Nano Customer Buying Criteria
Expectations Importance

1. Ideal Position Pfmn 13.7 Size 3.4 35% Chester

2. Price $28.00 - 40.00 27%

3. Age Ideal Age = 1.0 20%

4. Reliability MTBF 18000-24000 18%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Nano Actual vs Potential Market Share Nano

20 60%

18
50%
16

14 40%

12
30%
Size

10
Dome
Dim
8
Arm 20%
Art
Bolt
6 Cozy
All
Also
Axe
Cat
Bit 10%
4 City

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Nano Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Axe 21% 1,125 7/22/2026 YES 13.7 4.0 $38.50 24000 1.57 $1,400 100% $1,000 89% 64

Cat 19% 1,030 11/5/2026 14.3 3.7 $34.00 23000 1.24 $1,350 87% $1,000 83% 62

City 17% 901 7/3/2026 14.8 3.2 $37.00 23000 1.34 $1,350 87% $900 83% 48

Bit 15% 796 12/17/2026 13.7 3.6 $30.00 18000 1.03 $1,140 67% $1,900 70% 46

All 14% 779 10/3/2026 YES 13.4 4.3 $38.50 24000 1.02 $3,000 100% $1,000 89% 62

Also 7% 368 4/18/2026 YES 13.7 4.0 $38.50 24000 0.7 $3,000 75% $0 89% 55

Dim 1% 76 12/16/2025 11.7 7.7 $24.00 18000 2.09 $1,250 78% $1,100 18% 2

Cozy 1% 67 7/25/2026 16.9 5.4 $37.00 25000 1.34 $1,350 87% $900 83% 0

Arm 1% 64 10/5/2026 YES 16.2 6.7 $40.50 26000 1 $3,000 100% $900 89% 1

Dome 1% 63 12/18/2025 12.4 8.2 $24.00 20000 2.1 $1,250 78% $1,100 18% 1

Art 1% 52 8/16/2026 16.6 6.3 $40.50 26000 1.37 $1,400 100% $900 89% 0

Bolt 1% 46 12/17/2026 16.8 6.1 $36.00 20000 1.04 $1,140 67% $2,200 70% 0

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Round 3
Elite Market Segment Analysis 152_Debajit Das Dec. 31 2026

Elite Statisitcs Accessibility Elite

Total Industry Unit Demand 5,428

Actual Industry Unit Sales 5,428

Andrews
Segment % of Total Industry 20.3%

Next Year's Segment Growth Rate 16%

Baldwin
Elite Customer Buying Criteria
Expectations Importance

1. Age Ideal Age = 0.0 34% Chester

2. Price $30.00 - 42.00 24%

3. Ideal Position Pfmn 16.6 Size 6.3 22%

4. Reliability MTBF 20000-26000 20%

Digby

0% 20% 40% 60% 80% 100%

Perceptual Map For Elite Actual vs Potential Market Share Elite

20 60%

18

16

14 40%

12
Size

10

8
Arm 20%
Anti
Art
Bolt
Cell
Cozy
6
All
Also
Axe
Cat
Bit
4 City

2
0%
0 Andrews Baldwin Chester Digby
0 2 4 6 8 10 12 14 16 18 20
Actual Potential
Performance

Top Products in Elite Segment

Units
Market Sold to Revision Stock Pfmn Size List Age Promo Cust. Sales Cust. Dec. Cust.
Name Share Seg Date Out Coord Coord Price MTBF Dec.31 Budget Awareness Budget Accessibility Survey

Art 20% 1,101 8/16/2026 16.6 6.3 $40.50 26000 1.37 $1,400 100% $900 94% 57

Cozy 18% 958 7/25/2026 16.9 5.4 $37.00 25000 1.34 $1,350 87% $900 87% 48

Cell 16% 879 8/24/2026 17.1 5.7 $34.00 25000 1.9 $1,350 87% $1,000 87% 47

Arm 14% 735 10/5/2026 YES 16.2 6.7 $40.50 26000 1 $3,000 100% $900 94% 63

Bolt 10% 521 12/17/2026 16.8 6.1 $36.00 20000 1.04 $1,140 67% $2,200 69% 30

Anti 7% 393 5/4/2026 YES 16.6 6.3 $40.50 26000 0.66 $3,000 75% $0 94% 59

Cat 5% 265 11/5/2026 14.3 3.7 $34.00 23000 1.24 $1,350 87% $1,000 87% 8

All 4% 220 10/3/2026 YES 13.4 4.3 $38.50 24000 1.02 $3,000 100% $1,000 94% 11

Axe 3% 164 7/22/2026 YES 13.7 4.0 $38.50 24000 1.57 $1,400 100% $1,000 94% 7

Bit 2% 86 12/17/2026 13.7 3.6 $30.00 18000 1.03 $1,140 67% $1,900 69% 1

Also 1% 51 4/18/2026 YES 13.7 4.0 $38.50 24000 0.7 $3,000 75% $0 94% 9

City 1% 39 7/3/2026 14.8 3.2 $37.00 23000 1.34 $1,350 87% $900 87% 1

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Round 3
Market Share Report 152_Debajit Das Dec. 31 2026

Units Sold vs Demand Market Share

10,000 60%

9,000
50%
8,000

7,000
40%
6,000

5,000 30%

4,000
20%
3,000

2,000
10%
1,000

0 0%
Thrift Core Nano Elite Andrews Baldwin Chester Digby

Industry Unit Sales Total Unit Demand Thrift Core Nano Elite

Actual Market Share in Units Potential Market Share in Units

Thrift Core Nano Elite Total Thrift Core Nano Elite Total

Industry Unit Sales 6,978 8,889 5,407 5,428 26,702 Units Demanded 6,978 8,889 5,407 5,428 26,702

% of Market 26.1% 33.3% 20.3% 20.3% 100.0% % of Market 26.1% 33.3% 20.3% 20.3% 100.0%

Art 1.0% 20.3% 4.3% Art 0.9% 17.6% 3.8%

Ant 22.4% 4.6% 7.4% Ant 23.5% 4.9% 7.8%

Ace 2.2% 19.7% 0.5% 0.3% 7.3% Ace 2.3% 20.7% 0.5% 0.3% 7.6%

Axe 20.8% 3.0% 4.8% Axe 20.0% 2.8% 4.6%

All 14.4% 4.1% 3.7% All 15.5% 4.4% 4.0%

Arm 1.2% 13.6% 3.0% Arm 1.5% 17.2% 3.8%

Anti 7.3% 1.5% Anti 12.5% 2.5%

Also 6.8% 1.0% 1.6% Also 12.7% 1.8% 2.9%

Total 24.6% 24.3% 44.7% 49.4% 33.6% Total 25.8% 25.5% 51.1% 56.6% 37.1%

Bam 13.0% 0.2% 3.5% Bam 12.8% 0.2% 3.4%

Bell 9.9% 11.9% 6.6% Bell 9.8% 11.7% 6.4%

Bit 14.7% 1.6% 3.3% Bit 13.0% 1.4% 2.9%

Bolt 0.9% 9.6% 2.1% Bolt 0.7% 8.2% 1.8%

Buzz 2.6% 14.5% 5.5% Buzz 2.6% 14.2% 5.4%

Brat 0.4% 10.9% 3.7% Brat 0.4% 10.7% 3.7%

Total 26.0% 37.5% 15.6% 11.2% 24.7% Total 25.6% 36.9% 13.8% 9.6% 23.7%

Cat 19.1% 4.9% 4.9% Cat 16.8% 4.2% 4.3%

Cell 0.2% 16.2% 3.3% Cell 0.2% 13.9% 2.9%

City 16.7% 0.7% 3.5% City 14.7% 0.6% 3.1%

Cozy 1.2% 17.7% 3.8% Cozy 1.1% 15.1% 3.3%

Total 37.2% 39.4% 15.6% Total 32.9% 33.8% 13.5%

Daft 24.8% 1.9% 7.1% Daft 24.4% 1.9% 7.0%

Deal 24.7% 2.9% 7.4% Deal 24.3% 2.8% 7.3%

Dim 15.7% 1.4% 5.5% Dim 15.4% 1.2% 5.4%

Dome 17.8% 1.2% 6.2% Dome 17.5% 1.0% 6.0%

Total 49.5% 38.2% 2.6% 26.2% Total 48.7% 37.6% 2.3% 25.7%

COMP-XM® INQUIRER Page 9

COOKIE SETTINGS
 TOP
Round 3
Perceptual Map 152_Debajit Das Dec. 31 2026

20

18

16

14

12 Daft
Deal
Ant
Bam
Bell
Size 10
Brat
Buzz
Ace
Dome
8 Dim
Arm
Anti
Art
Bolt
6 Cell
Cozy

All
Also
Axe
4 BitCat
City

0
0 2 4 6 8 10 12 14 16 18 20
Performance

Andrews Baldwin Chester

Name Pfmn Size Revised Name Pfmn Size Revised Name Pfmn Size Revised

Art 16.6 6.3 8/16/2026 Bam 9.3 10.7 12/20/2026 Cat 14.3 3.7 11/5/2026

Ant 8.8 11.2 8/10/2026 Bell 10.2 9.8 12/6/2024 Cell 17.1 5.7 8/24/2026

Ace 11.8 8.2 10/15/2026 Bit 13.7 3.6 12/17/2026 City 14.8 3.2 7/3/2026

Axe 13.7 4.0 7/22/2026 Bolt 16.8 6.1 12/17/2026 Cozy 16.9 5.4 7/25/2026

All 13.4 4.3 10/3/2026 Buzz 11.6 8.3 12/25/2026

Arm 16.2 6.7 10/5/2026 Brat 11.3 8.7 2/10/2026

Anti 16.6 6.3 5/4/2026

Also 13.7 4.0 4/18/2026

Digby

Name Pfmn Size Revised

Daft 8.6 11.4 6/10/2027

Deal 8.8 11.2 6/10/2027

Dim 11.7 7.7 12/16/2025

Dome 12.4 8.2 12/18/2025

COMP-XM® INQUIRER Page 10

COOKIE SETTINGS
 TOP
Round 3
HR/TQM Report 152_Debajit Das Dec. 31 2026
Human Resources Summary

Andrews Baldwin Chester Digby

Needed Complement 966 552 573 437

Complement 966 552 573 437

1st Shift Complement 587 396 360 265

2nd Shift Complement 379 156 213 172

Overtime % 0.0% 0.0% 0.0% 0.0%

Turnover Rate 6.6% 6.3% 10.0% 8.0%

New Employees 427 179 169 70

Separated Employees 0 0 0 0

Recruiting Spend $5,000 $5,000 $0 $2,500

Training Hours 80 80 0 40

Productivity Index 112.9% 125.4% 100.0% 115.8%

Recruiting Cost $2,563 $1,076 $169 $246

Separation Cost $0 $0 $0 $0

Training Cost $1,546 $883 $0 $350

Total HR Admin Cost $4,108 $1,959 $169 $596

Labor Contract Next Year

Wages $29.56 $29.56 $29.56 $29.56

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%

TQM Summary

Andrews Baldwin Chester Digby

Process Mgt Budgets Last Year

CPI Systems $1,000 $1,500 $0 $1,250

Vendor/JIT $0 $1,500 $0 $1,250

Quality Initiative Training $1,000 $0 $1,250 $0

Channel Support Systems $1,000 $0 $1,250 $1,500

Concutrent Engineering $500 $0 $1,250 $0

UNEP Green Programs $0 $1,500 $0 $0

TQM Budgets Last Year

Benchmarking $0 $1,500 $0 $0

Quality Function Deployment Effort $0 $0 $0 $0

CCE/6 Sigma Training $0 $0 $1,250 $750

GEMI TQEM Sustainability Initiatives $0 $0 $1,250 $750

Total Expenditures $3,500 $6,000 $6,250 $5,500

Cumulative Impacts

Material Cost Reduction 11.62% 1.41% 6.43% 6.03%

Labor Cost Reduction 14.00% 0.05% 13.93% 1.78%

Reduction R&D Cycle Time 40.01% 0.00% 39.79% 0.00%

Reduction Admin Costs 60.02% 43.11% 0.00% 16.23%

Demand Increase 14.38% 0.45% 9.37% 5.47%

COMP-XM® INQUIRER Page 11

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Andrews C59559 Dec. 31 2026

Balance Sheet
ASSETS 2026 2025
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size

of total assets for that year. Cash: Your end-of-year Cash $48,701 20% $41,060
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $48,506 19.9% $24,464
Inventories: The current value of your inventory
Inventory $1,320 0.5% $0
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $98,527 40.4% $65,524
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $223,688 91.8% $172,200

accumulated depreciation from your plant. Accts Accumulated Depreciation ($78,436) -32.2% ($63,523)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $145,252 59.6% $108,677
the company is obligated to pay during the next year
Total assets $243,779 100% $174,200
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $6,866 2.8% $6,119
this represents the total value of your bonds. Current Debt $0 0% $21,300
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $85,631 35.1% $40,631
The profits that the company chose to keep instead of
Total Liabilities $92,497 37.9% $68,050
paying to shareholders as dividends.
Common Stock $49,080 20.1% $39,080

Retained Earnings $102,202 41.9% $67,070

Total Equity $151,282 62.1% $106,150

Total Liab. & O. Equity $243,779 100% $174,200

Cash Flow Statement

Cash Flows from Operating Activities: 2026 2025
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 Net income (Loss) $40,140 $8,134
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $14,913 $11,080
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 Extraordinary gain/losses/writeoffs $0 $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable $748 ($4,635)
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. Inventory ($1,320) $27,990

Accounts Receivable ($24,042) ($385)

Cash Flow Summary Andrews Net cash from operations $30,438 $42,183

50k Cash Flows from Investing Activities:

Plant Improvements ($51,488) ($46,688)

Cash Flows from Financing Activities:

25k
Dividends paid ($5,009) ($7,049)

Sales of Common Stock $10,000 $7,000

0
Purchase of Common Stock $0 $0

Cash from long term debt $45,000 $10,000

-25k Retirement of long term debt $0 ($11,300)

Change in current debt (net) ($21,300) $16,300

-50k Net cash from financing activities $28,691 $14,951

Net change in cash position $7,641 $10,447

Closing cash position $48,701 $41,060

-75k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Andrews C59559 Dec. 31 2026

2026 Income Statement

Product Name Art Ant Ace Axe All Arm Anti Also Total Common Size

Sales $46,712 $42,303 $53,559 $49,604 $38,453 $32,360 $15,932 $16,154 $295,077 100%

Variable Costs:

Direct Labor $7,791 $8,116 $10,082 $8,516 $11,540 $9,232 $5,682 $6,060 $67,019 22.7%

Direct Material $15,599 $14,305 $18,886 $16,549 $12,174 $10,301 $5,440 $5,487 $98,741 33.5%

Inventory Carry $158 $0 $0 $0 $0 $0 $0 $0 $158 0.1%

Total Variable $23,549 $22,421 $28,968 $25,065 $23,714 $19,533 $11,121 $11,547 $165,918 56.2%

Contribution Margin $23,163 $19,882 $24,591 $24,539 $14,739 $12,827 $4,811 $4,607 $129,159 43.8%

Period Costs:

Depreciation $1,845 $3,444 $3,800 $2,103 $1,213 $1,040 $733 $733 $14,913 5.1%

R&D $633 $616 $798 $562 $766 $770 $344 $300 $4,789 1.6%

Promotions $1,400 $1,400 $1,400 $1,400 $3,000 $3,000 $3,000 $3,000 $17,600 6%

Sales $900 $2,000 $2,000 $1,000 $1,000 $900 $0 $0 $7,800 2.6%

Admin $781 $707 $896 $829 $643 $541 $266 $270 $4,934 1.7%

Total Period $5,559 $8,167 $8,894 $5,895 $6,622 $6,251 $4,343 $4,303 $50,035 17%

Net Margin $17,604 $11,715 $15,697 $18,644 $8,116 $6,576 $467 $304 $79,123 26.8%

Other $6,250 2.1%

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 EBIT $72,873 24.7%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $0 0%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $9,860 3.3%
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 Taxes $22,055 7.5%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $819 0.3%
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 Net Profit $40,140 13.6%
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 Variables Margins
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% 60%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.
50%

40%

30%

20%

10%

0%

Art Ant Ace Axe All Arm

Anti Also

COOKIE SETTINGS
 Profit History Market Share History
$50,000 50%

$40,000 40%

$30,000 30%

$20,000 20%

$10,000 10%

$0 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROE History Asset Turnover History

40% 1.5

1.3

30%

1.0

20% 0.8

0.5

10%

0.3

0% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROS History ROA History

15% 20%

12.5%

15%

10%

7.5% 10%

5%

5%

2.5%

0% 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Baldwin C59559 Dec. 31 2026

Balance Sheet
ASSETS 2026 2025
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size

of total assets for that year. Cash: Your end-of-year Cash $18,026 8.1% $40,190
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $12,213 5.5% $10,807
Inventories: The current value of your inventory
Inventory $20,443 9.2% $1,217
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $50,682 22.8% $52,214
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $259,240 116.5% $215,760

accumulated depreciation from your plant. Accts Accumulated Depreciation ($87,482) -39.3% ($70,200)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $171,758 77.2% $145,560
the company is obligated to pay during the next year
Total assets $222,440 100% $197,775
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $9,110 4.1% $6,025
this represents the total value of your bonds. Current Debt $24,963 11.2% $31,304
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $100,152 45% $83,262
The profits that the company chose to keep instead of
Total Liabilities $134,225 60.3% $120,591
paying to shareholders as dividends.
Common Stock $53,036 23.8% $36,886

Retained Earnings $35,179 15.8% $40,297

Total Equity $88,215 39.7% $77,183

Total Liab. & O. Equity $222,440 100% $197,775

Cash Flow Statement

Cash Flows from Operating Activities: 2026 2025
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 Net income (Loss) ($5,118) ($40)
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $17,283 $13,024
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 Extraordinary gain/losses/writeoffs $0 $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable $3,085 ($1)
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. Inventory ($19,226) $11,347

Accounts Receivable ($1,406) ($2,019)

Cash Flow Summary Baldwin Net cash from operations ($5,383) $22,311

40k Cash Flows from Investing Activities:

Plant Improvements ($43,480) ($50,460)

Cash Flows from Financing Activities:

20k
Dividends paid $0 $0

Sales of Common Stock $16,149 $18,240

0
Purchase of Common Stock $0 $0

Cash from long term debt $16,890 $35,409

-20k Retirement of long term debt $0 ($11,300)

Change in current debt (net) ($6,341) $9,564

-40k Net cash from financing activities $26,699 $51,913

Net change in cash position ($22,164) $23,764

Closing cash position $18,026 $40,190

-60k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Baldwin C59559 Dec. 31 2026

2026 Income Statement

Product Name Bam Bell Bit Bolt Buzz Brat Na Na Total Common Size

Sales $15,791 $33,240 $26,440 $20,404 $30,863 $21,853 $0 $0 $148,592 100%

Variable Costs:

Direct Labor $1,695 $7,023 $6,007 $3,425 $8,069 $4,342 $0 $0 $30,562 20.6%

Direct Material $5,562 $14,710 $10,896 $7,489 $13,166 $9,227 $0 $0 $61,051 41.1%

Inventory Carry $310 $505 $706 $635 $199 $98 $0 $0 $2,453 1.7%

Total Variable $7,567 $22,239 $17,610 $11,550 $21,434 $13,667 $0 $0 $94,066 63.3%

Contribution Margin $8,224 $11,002 $8,830 $8,855 $9,429 $8,186 $0 $0 $54,526 36.7%

Period Costs:

Depreciation $3,833 $4,600 $1,927 $1,813 $2,635 $2,475 $0 $0 $17,283 11.6%

R&D $983 $0 $973 $973 $995 $114 $0 $0 $4,039 2.7%

Promotions $1,140 $1,140 $1,140 $1,140 $1,140 $1,140 $0 $0 $6,840 4.6%

Sales $1,000 $1,000 $1,900 $2,200 $900 $900 $0 $0 $7,900 5.3%

Admin $271 $571 $454 $350 $530 $375 $0 $0 $2,551 1.7%

Total Period $7,227 $7,311 $6,394 $6,477 $6,200 $5,004 $0 $0 $38,612 26%

Net Margin $997 $3,691 $2,436 $2,378 $3,229 $3,183 $0 $0 $15,914 10.7%

Other $7,652 5.1%

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 EBIT $8,262 5.6%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $3,095 2.1%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $13,041 8.8%
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 Taxes ($2,756) -1.9%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $0 0%
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 Net Profit ($5,118) -3.4%
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 Variables Margins
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% 60%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.
50%

40%

30%

20%

10%

0%

Bam Bell Bit Bolt Buzz Brat

NA NA

COOKIE SETTINGS
 Profit History Market Share History
$15,000 30%

25%
$10,000

20%
$5,000

15%

$0
10%

$-5,000
5%

$-10,000 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROE History Asset Turnover History

30% 1.5

1.3

20%

1.0

10% 0.8

0.5

0%

0.3

-10% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROS History ROA History

12.5% 12.5%

10% 10%

7.5% 7.5%

5% 5%

2.5% 2.5%

0% 0%

-2.5% -2.5%

-5% -5%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

COOKIE SETTINGS
Annual Report Page 2

COOKIE SETTINGS
 PRINT

Annual Report
TOP
Round 3
Annual Report Chester C59559 Dec. 31 2026

Balance Sheet
ASSETS 2026 2025
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size

of total assets for that year. Cash: Your end-of-year Cash $11,310 8.3% $49,966
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $12,092 8.9% $12,737
Inventories: The current value of your inventory
Inventory $30,720 22.5% $0
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $54,122 39.6% $62,703
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $140,560 103% $112,560
accumulated depreciation from your plant. Accts Accumulated Depreciation ($58,161) -42.6% ($48,791)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $82,399 60.4% $63,769
the company is obligated to pay during the next year
Total assets $136,521 100% $126,472
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $9,794 7.2% $6,789
this represents the total value of your bonds. Current Debt $22,923 16.8% $27,920
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $30,847 22.6% $24,863
The profits that the company chose to keep instead of
Total Liabilities $63,564 46.6% $59,572
paying to shareholders as dividends.
Common Stock $9,523 7% $9,741

Retained Earnings $63,434 46.5% $57,158

Total Equity $72,957 53.4% $66,899

Total Liab. & O. Equity $136,521 100% $126,472

Cash Flow Statement

Cash Flows from Operating Activities: 2026 2025

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 Net income (Loss) $12,640 $15,381
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $9,371 $7,504
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 Extraordinary gain/losses/writeoffs $0 $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable $3,005 ($811)
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. Inventory ($30,720) $15,137

Accounts Receivable $644 ($1,298)

Cash Flow Summary Chester Net cash from operations ($5,060) $35,913

0 Cash Flows from Investing Activities:

Plant Improvements ($28,000) ($18,600)

Cash Flows from Financing Activities:

-10k
Dividends paid ($5,085) $0

Sales of Common Stock $0 $923

-20k
Purchase of Common Stock ($1,498) $0

Cash from long term debt $5,984 $15,376

-30k Retirement of long term debt $0 ($11,300)

Change in current debt (net) ($4,997) $13,635

-40k Net cash from financing activities ($5,596) $18,634

Net change in cash position ($38,656) $35,947

Closing cash position $11,310 $49,966

-50k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
 TOP
Round 3
Annual Report Chester C59559 Dec. 31 2026

2026 Income Statement

Product Name Cat Cell City Cozy Na Na Na Na Total Common Size

Sales $44,130 $30,325 $34,767 $37,903 $0 $0 $0 $0 $147,125 100%

Variable Costs:

Direct Labor $10,264 $5,974 $6,918 $7,430 $0 $0 $0 $0 $30,586 20.8%

Direct Material $16,890 $12,862 $13,203 $14,893 $0 $0 $0 $0 $57,848 39.3%

Inventory Carry $967 $625 $1,147 $946 $0 $0 $0 $0 $3,686 2.5%

Total Variable $28,122 $19,462 $21,268 $23,268 $0 $0 $0 $0 $92,121 62.6%

Contribution Margin $16,008 $10,863 $13,499 $14,635 $0 $0 $0 $0 $55,004 37.4%

Period Costs:

Depreciation $2,684 $1,700 $2,493 $2,493 $0 $0 $0 $0 $9,371 6.4%

R&D $858 $655 $510 $571 $0 $0 $0 $0 $2,595 1.8%

Promotions $1,350 $1,350 $1,350 $1,350 $0 $0 $0 $0 $5,400 3.7%

Sales $1,000 $1,000 $900 $900 $0 $0 $0 $0 $3,800 2.6%

Admin $360 $247 $283 $309 $0 $0 $0 $0 $1,199 0.8%

Total Period $6,252 $4,953 $5,537 $5,623 $0 $0 $0 $0 $22,364 15.2%

Net Margin $9,756 $5,910 $7,963 $9,012 $0 $0 $0 $0 $32,640 22.2%

Other $6,572 4.5%

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 EBIT $26,069 17.7%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $2,521 1.7%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $3,704 2.5%
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 Taxes $6,945 4.7%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $258 0.2%
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 Net Profit $12,640 8.6%
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 Variables Margins
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% 50%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.
40%

30%

20%

10%

0%

Cat Cell City Cozy NA NA

NA NA

COOKIE SETTINGS
 Profit History Market Share History
$20,000 30%

25%

$15,000

20%

$10,000 15%

10%

$5,000

5%

$0 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROE History Asset Turnover History

25% 2.0

20%
1.5

15%

1.0

10%

0.5
5%

0% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROS History ROA History

12.5% 15%

12.5%
10%

10%
7.5%

7.5%

5%
5%

2.5%
2.5%

0% 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

COOKIE SETTINGS
Annual Report Page 2

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Annual Report
TOP
Round 3
Annual Report Digby C59559 Dec. 31 2026

Balance Sheet
ASSETS 2026 2025
DEFINITIONS: Common Size: The common size
column simply represents each item as a percentage Common Size
of total assets for that year. Cash: Your end-of-year Cash $32,641 16.3% $53,714
cash position. Accounts Receivable: Reflects the lag
between delivery and payment of your products. Accounts Receivable $11,239 5.6% $12,271
Inventories: The current value of your inventory
Inventory $17,507 8.8% $0
across all products. A zero indicates your company
stocked out. Unmet demand would, of course, fall to Total Current Assets $61,387 30.7% $65,985
your competitors. Plant & Equipment: The current
value of your plant. Accum Deprec: The total Plant & Equipment $230,700 115.5% $207,100

accumulated depreciation from your plant. Accts Accumulated Depreciation ($92,289) -46.2% ($76,909)
Payable: What the company currently owes suppliers
for materials and services. Current Debt: The debt Total Fixed Assets $138,411 69.3% $130,191
the company is obligated to pay during the next year
Total assets $199,799 100% $196,176
of operations. It includes emergency loans used to
keep your company solvent should you run out of LIABILITIES & OWNERS' EQUITY
cash during the year. Long Term Debt: The
company's long term debt is in the form of bonds, and Accounts Payable $8,475 4.2% $7,109
this represents the total value of your bonds. Current Debt $28,895 14.5% $39,101
Common Stock: The amount of capital invested by
shareholders in the company. Retained Earnings: Long Term Debt $84,604 42.3% $80,911
The profits that the company chose to keep instead of
Total Liabilities $121,974 61% $127,121
paying to shareholders as dividends.
Common Stock $45,322 22.7% $36,192

Retained Earnings $32,502 16.3% $32,863

Total Equity $77,824 39% $69,055

Total Liab. & O. Equity $199,799 100% $196,176

Cash Flow Statement

Cash Flows from Operating Activities: 2026 2025
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 Net income (Loss) ($360) $132
numbers. The Cash Flow Statement is an excellent tool for diagnosing emergency loans. Depreciation $15,380 $13,807
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 Extraordinary gain/losses/writeoffs $0 $0
inventory, the report would show the increase in inventory as a huge negative cash
Accounts Payable $1,367 ($1,026)
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. Inventory ($17,507) $12,681

Accounts Receivable $1,032 ($729)

Cash Flow Summary Digby Net cash from operations ($89) $24,864

5k Cash Flows from Investing Activities:

Plant Improvements ($23,600) ($29,540)

0 Cash Flows from Financing Activities:

Dividends paid $0 $0
-5k
Sales of Common Stock $9,130 $8,562

Purchase of Common Stock $0 $0

-10k
Cash from long term debt $3,693 $23,965

Retirement of long term debt $0 ($11,300)

-15k
Change in current debt (net) ($10,206) $13,898

Net cash from financing activities $2,616 $35,125

-20k
Net change in cash position ($21,073) $30,449

Closing cash position $32,641 $53,714

-25k

Operations Investment Finance Chg. Cash

Annual Report Page 1

COOKIE SETTINGS
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Round 3
Annual Report Digby C59559 Dec. 31 2026

2026 Income Statement

Product Name Daft Deal Dim Dome Na Na Na Na Total Common Size

Sales $30,433 $31,651 $35,267 $39,391 $0 $0 $0 $0 $136,743 100%

Variable Costs:

Direct Labor $5,770 $5,875 $6,774 $7,439 $0 $0 $0 $0 $25,859 18.9%

Direct Material $13,368 $14,216 $14,696 $17,470 $0 $0 $0 $0 $59,750 43.7%

Inventory Carry $393 $365 $635 $708 $0 $0 $0 $0 $2,101 1.5%

Total Variable $19,532 $20,456 $22,106 $25,617 $0 $0 $0 $0 $87,710 64.1%

Contribution Margin $10,901 $11,195 $13,161 $13,774 $0 $0 $0 $0 $49,032 35.9%

Period Costs:

Depreciation $4,447 $4,600 $2,913 $3,420 $0 $0 $0 $0 $15,380 11.2%

R&D $1,000 $1,000 $0 $0 $0 $0 $0 $0 $2,000 1.5%

Promotions $1,250 $1,250 $1,250 $1,250 $0 $0 $0 $0 $5,000 3.7%

Sales $1,400 $1,400 $1,100 $1,100 $0 $0 $0 $0 $5,000 3.7%

Admin $311 $323 $360 $403 $0 $0 $0 $0 $1,397 1%

Total Period $8,408 $8,573 $5,624 $6,173 $0 $0 $0 $0 $28,777 21%

Net Margin $2,494 $2,622 $7,538 $7,602 $0 $0 $0 $0 $20,255 14.8%

Other $6,141 4.5%

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 EBIT $14,114 10.3%
in inventory. Depreciation: Calculated on straight-line 15-year depreciation of plant
value. R&D Costs: R&D department expenditures for each product. Admin: Short Term Interest $3,670 2.7%
Administration overhead is estimated at 1.5% of sales. Promotions: The promotion
Long Term Interest $10,999 8%
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 Taxes ($194) -0.1%
money paid to investment bankers and brokerage firms to issue new stocks or bonds plus
Profit Sharing $0 0%
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 Net Profit ($360) -0.3%
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 Variables Margins
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% 40%
tax rate. Profit Sharing: Profits shared with employees under the labor contract. Net
Profit: EBIT minus interest, taxes, and profit sharing.

30%

20%

10%

0%

Daft Deal Dim Dome NA

NA NA NA

COOKIE SETTINGS
 Profit History Market Share History
$12,500 40%

$10,000

30%

$7,500

$5,000 20%

$2,500

10%

$0

$-2,500 0%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROE History Asset Turnover History

20% 1.5

1.3
15%

1.0
10%

0.8

5%
0.5

0%
0.3

-5% 0.0

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

ROS History ROA History

10% 8%

7.5% 6%

5% 4%

2.5% 2%

0% 0%

-2.5% -2%

2019 2020 2021 2022 2023 2024 2019 2020 2021 2022 2023 2024
2025 2026 2025 2026

COOKIE SETTINGS
Annual Report Page 2

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