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ETHICS SUMMARYOther (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.
Balance SheetDEFINITIONS:Common Size: The common sizecolumn simply represents each item as apercentage of total assets for that year.Cash: Your end-of-year cash position.Accounts Receivable: Reflects the lagbetween delivery and payment of yourproducts. Inventories: The currentvalue of your inventory across all products. Azero indicates your company stocked out.Unmet demand would, of course, fall to yourcompetitors. Plant & Equipment: Thecurrent value of your plant. AccumDeprec: The total accumulateddepreciation from your plant. AcctsPayable: What the company currentlyowes suppliers for materials and services.Current Debt: The debt the companyis obligated to pay during the next year ofoperations. It includes emergency loans usedto keep your company solvent should you runout of cash during the year. LongTerm Debt: The company'slong term debt is in the form of bonds, and thisrepresents the total value of your bonds.Common Stock: The amount ofcapital invested by shareholders in thecompany. Retained Earnings:The profits that the company chose to keepinstead of paying to shareholders as dividends.
Common Stock $18,360 18.2% $18,360Retained Earnings $26,352 26.1% $29,149Total Equity $44,712 44.2% $47,509Total Liab. & O. Equity $101,147 100.0% $113,726
Cash Flow StatementThe Cash Flow Statement examines what happened in the CashAccount during the year. Cash injections appear as positive numbers andcash withdrawals as negative numbers. The Cash Flow Statement is anexcellent tool for diagnosing emergency loans. When negative cash flowsexceed positives, you are forced to seek emergency funding. For example,if sales are bad and you find yourself carrying an abundance of excessinventory, the report would show the increase in inventory as a hugenegative cash flow. Too much unexpected inventory could outstrip yourinflows, exhaust your starting cash and force you to beg for money to keepyour company afloat.
Net cash from operation $8,261 $2,982Cash Flows from Investing ActivitiesPlant Improvements ($9,709) ($10,440)Cash Flows from Financing ActivitiesDividends Paid $0 $0Sales of Common Stock $0 $0Purchase of Common Stock $0 $0Cash from long term debt $0 $8,000Retirement of long term debt $0 ($6,950)Change in current debt(net) ($6,666) $6,950
Net Cash from financing activities ($6,666) $8,000Net Change in cash position ($8,115) $542Closing cash position $0 $8,115
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce theproduct that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D departmentexpenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.Promotions: The promotion budget for each product. Sales: The sales force budget for eachproduct. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The feesinclude money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs include the loss you might experience when you sell capacity orliquidate 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 Interestand Taxes. Short Term Interest: Interest expense based on last year''s current debt, including short termdebt, long term notes that have become due, and emergency loans, Long Term Interest: Interest paid onoutstanding bonds. Taxes: Income tax based upon a 35% tax rate. Profit Sharing: Profits sharedwith employees under the labor contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
Other $10,356 9.2%EBIT $2,208 2.0%Short Term Interest $47 0.0%Long Term Interest $6,465 5.8%Taxes ($1,506) -1.3%Profit Sharing $0 0.0%Net Profit ($2,797) -2.5%
Balance SheetDEFINITIONS:Common Size: The common sizecolumn simply represents each item as apercentage of total assets for that year.Cash: Your end-of-year cash position.Accounts Receivable: Reflects the lagbetween delivery and payment of yourproducts. Inventories: The currentvalue of your inventory across all products. Azero indicates your company stocked out.Unmet demand would, of course, fall to yourcompetitors. Plant & Equipment: Thecurrent value of your plant. AccumDeprec: The total accumulateddepreciation from your plant. AcctsPayable: What the company currentlyowes suppliers for materials and services.Current Debt: The debt the companyis obligated to pay during the next year ofoperations. It includes emergency loans usedto keep your company solvent should you runout of cash during the year. LongTerm Debt: The company'slong term debt is in the form of bonds, and thisrepresents the total value of your bonds.Common Stock: The amount ofcapital invested by shareholders in thecompany. Retained Earnings:The profits that the company chose to keepinstead of paying to shareholders as dividends.
Common Stock $19,945 18.4% $19,945Retained Earnings $35,549 32.8% $32,604Total Equity $55,494 51.2% $52,549Total Liab. & O. Equity $108,357 100.0% $111,097
Cash Flow StatementThe Cash Flow Statement examines what happened in the CashAccount during the year. Cash injections appear as positive numbers andcash withdrawals as negative numbers. The Cash Flow Statement is anexcellent tool for diagnosing emergency loans. When negative cash flowsexceed positives, you are forced to seek emergency funding. For example,if sales are bad and you find yourself carrying an abundance of excessinventory, the report would show the increase in inventory as a hugenegative cash flow. Too much unexpected inventory could outstrip yourinflows, exhaust your starting cash and force you to beg for money to keepyour company afloat.
Net cash from operation $17,025 ($1,235)Cash Flows from Investing ActivitiesPlant Improvements ($5,420) ($3,230)Cash Flows from Financing ActivitiesDividends Paid ($3,407) ($7,270)Sales of Common Stock $0 $0Purchase of Common Stock $0 $0Cash from long term debt $0 $0Retirement of long term debt ($1,142) ($4,221)Change in current debt(net) ($5,200) $8,778
Net Cash from financing activities ($9,750) ($2,713)Net Change in cash position $1,856 ($7,178)Closing cash position $18,431 $16,576
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce theproduct that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D departmentexpenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.Promotions: The promotion budget for each product. Sales: The sales force budget for eachproduct. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The feesinclude money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs include the loss you might experience when you sell capacity orliquidate 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 Interestand Taxes. Short Term Interest: Interest expense based on last year''s current debt, including short termdebt, long term notes that have become due, and emergency loans, Long Term Interest: Interest paid onoutstanding bonds. Taxes: Income tax based upon a 35% tax rate. Profit Sharing: Profits sharedwith employees under the labor contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
Other $3,435 2.4%EBIT $15,701 11.2%Short Term Interest $1,598 1.1%Long Term Interest $4,131 2.9%Taxes $3,490 2.5%Profit Sharing $130 0.1%Net Profit $6,352 4.5%
Balance SheetDEFINITIONS:Common Size: The common sizecolumn simply represents each item as apercentage of total assets for that year.Cash: Your end-of-year cash position.Accounts Receivable: Reflects the lagbetween delivery and payment of yourproducts. Inventories: The currentvalue of your inventory across all products. Azero indicates your company stocked out.Unmet demand would, of course, fall to yourcompetitors. Plant & Equipment: Thecurrent value of your plant. AccumDeprec: The total accumulateddepreciation from your plant. AcctsPayable: What the company currentlyowes suppliers for materials and services.Current Debt: The debt the companyis obligated to pay during the next year ofoperations. It includes emergency loans usedto keep your company solvent should you runout of cash during the year. LongTerm Debt: The company'slong term debt is in the form of bonds, and thisrepresents the total value of your bonds.Common Stock: The amount ofcapital invested by shareholders in thecompany. Retained Earnings:The profits that the company chose to keepinstead of paying to shareholders as dividends.
Common Stock $20,736 15.6% $20,736Retained Earnings $44,975 33.9% $39,576Total Equity $65,711 49.5% $60,312Total Liab. & O. Equity $132,675 100.0% $121,872
Cash Flow StatementThe Cash Flow Statement examines what happened in the CashAccount during the year. Cash injections appear as positive numbers andcash withdrawals as negative numbers. The Cash Flow Statement is anexcellent tool for diagnosing emergency loans. When negative cash flowsexceed positives, you are forced to seek emergency funding. For example,if sales are bad and you find yourself carrying an abundance of excessinventory, the report would show the increase in inventory as a hugenegative cash flow. Too much unexpected inventory could outstrip yourinflows, exhaust your starting cash and force you to beg for money to keepyour company afloat.
Net cash from operation $14,818 $5,173Cash Flows from Investing ActivitiesPlant Improvements ($23,800) ($5,640)Cash Flows from Financing ActivitiesDividends Paid ($16) ($1,746)Sales of Common Stock $0 $0Purchase of Common Stock $0 $0Cash from long term debt $5,891 $0Retirement of long term debt $0 ($1,830)Change in current debt(net) $392 $6,305
Net Cash from financing activities $6,267 $2,729Net Change in cash position ($2,715) $2,262Closing cash position $21,276 $23,990
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce theproduct that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D departmentexpenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.Promotions: The promotion budget for each product. Sales: The sales force budget for eachproduct. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The feesinclude money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs include the loss you might experience when you sell capacity orliquidate 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 Interestand Taxes. Short Term Interest: Interest expense based on last year''s current debt, including short termdebt, long term notes that have become due, and emergency loans, Long Term Interest: Interest paid onoutstanding bonds. Taxes: Income tax based upon a 35% tax rate. Profit Sharing: Profits sharedwith employees under the labor contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
Other $4,045 2.7%EBIT $15,729 10.4%Short Term Interest $1,878 1.2%Long Term Interest $5,352 3.5%Taxes $2,975 2.0%Profit Sharing $110 0.1%Net Profit $5,414 3.6%
Annual Report Page 19
Annual ReportAnnual Report Digby C52259 Round: 3
Dec. 31, 2015
Balance SheetDEFINITIONS:Common Size: The common sizecolumn simply represents each item as apercentage of total assets for that year.Cash: Your end-of-year cash position.Accounts Receivable: Reflects the lagbetween delivery and payment of yourproducts. Inventories: The currentvalue of your inventory across all products. Azero indicates your company stocked out.Unmet demand would, of course, fall to yourcompetitors. Plant & Equipment: Thecurrent value of your plant. AccumDeprec: The total accumulateddepreciation from your plant. AcctsPayable: What the company currentlyowes suppliers for materials and services.Current Debt: The debt the companyis obligated to pay during the next year ofoperations. It includes emergency loans usedto keep your company solvent should you runout of cash during the year. LongTerm Debt: The company'slong term debt is in the form of bonds, and thisrepresents the total value of your bonds.Common Stock: The amount ofcapital invested by shareholders in thecompany. Retained Earnings:The profits that the company chose to keepinstead of paying to shareholders as dividends.
Common Stock $21,719 15.0% $21,040Retained Earnings $49,383 34.2% $43,290Total Equity $71,102 49.3% $64,330Total Liab. & O. Equity $144,351 100.0% $130,182
Cash Flow StatementThe Cash Flow Statement examines what happened in the CashAccount during the year. Cash injections appear as positive numbers andcash withdrawals as negative numbers. The Cash Flow Statement is anexcellent tool for diagnosing emergency loans. When negative cash flowsexceed positives, you are forced to seek emergency funding. For example,if sales are bad and you find yourself carrying an abundance of excessinventory, the report would show the increase in inventory as a hugenegative cash flow. Too much unexpected inventory could outstrip yourinflows, exhaust your starting cash and force you to beg for money to keepyour company afloat.
Net cash from operation $14,875 $3,610Cash Flows from Investing ActivitiesPlant Improvements ($20,120) ($19,920)Cash Flows from Financing ActivitiesDividends Paid $0 $0Sales of Common Stock $679 $2,157Purchase of Common Stock $0 $0Cash from long term debt $5,203 $2,279Retirement of long term debt $0 $0Change in current debt(net) $1,672 $8,344
Net Cash from financing activities $7,554 $12,780Net Change in cash position $2,309 ($3,530)Closing cash position $21,594 $19,285
Annual Report Page 20
Annual Report Digby C52259 Round: 3Dec. 31, 2015
2015 Income Statement(Product Name) Daze Dell Dixie Dot Dune Doom Na Na 2015
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce theproduct that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D departmentexpenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.Promotions: The promotion budget for each product. Sales: The sales force budget for eachproduct. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The feesinclude money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs include the loss you might experience when you sell capacity orliquidate 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 Interestand Taxes. Short Term Interest: Interest expense based on last year''s current debt, including short termdebt, long term notes that have become due, and emergency loans, Long Term Interest: Interest paid onoutstanding bonds. Taxes: Income tax based upon a 35% tax rate. Profit Sharing: Profits sharedwith employees under the labor contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
Other $3,704 2.2%EBIT $17,310 10.1%Short Term Interest $2,223 1.3%Long Term Interest $5,522 3.2%Taxes $3,348 1.9%Profit Sharing $124 0.1%Net Profit $6,093 3.5%
Annual Report Page 21
Annual ReportAnnual Report Erie C52259 Round: 3
Dec. 31, 2015
Balance SheetDEFINITIONS:Common Size: The common sizecolumn simply represents each item as apercentage of total assets for that year.Cash: Your end-of-year cash position.Accounts Receivable: Reflects the lagbetween delivery and payment of yourproducts. Inventories: The currentvalue of your inventory across all products. Azero indicates your company stocked out.Unmet demand would, of course, fall to yourcompetitors. Plant & Equipment: Thecurrent value of your plant. AccumDeprec: The total accumulateddepreciation from your plant. AcctsPayable: What the company currentlyowes suppliers for materials and services.Current Debt: The debt the companyis obligated to pay during the next year ofoperations. It includes emergency loans usedto keep your company solvent should you runout of cash during the year. LongTerm Debt: The company'slong term debt is in the form of bonds, and thisrepresents the total value of your bonds.Common Stock: The amount ofcapital invested by shareholders in thecompany. Retained Earnings:The profits that the company chose to keepinstead of paying to shareholders as dividends.
Common Stock $22,747 19.0% $22,747Retained Earnings $34,974 29.3% $35,238Total Equity $57,721 48.3% $57,985Total Liab. & O. Equity $119,517 100.0% $120,590
Cash Flow StatementThe Cash Flow Statement examines what happened in the CashAccount during the year. Cash injections appear as positive numbers andcash withdrawals as negative numbers. The Cash Flow Statement is anexcellent tool for diagnosing emergency loans. When negative cash flowsexceed positives, you are forced to seek emergency funding. For example,if sales are bad and you find yourself carrying an abundance of excessinventory, the report would show the increase in inventory as a hugenegative cash flow. Too much unexpected inventory could outstrip yourinflows, exhaust your starting cash and force you to beg for money to keepyour company afloat.
Net cash from operation $11,663 $6,946Cash Flows from Investing ActivitiesPlant Improvements ($18,688) ($7,792)Cash Flows from Financing ActivitiesDividends Paid ($1,193) ($4,111)Sales of Common Stock $0 $0Purchase of Common Stock $0 $0Cash from long term debt $6,336 $1,662Retirement of long term debt $0 ($3,837)Change in current debt(net) ($7,295) $8,097
Net Cash from financing activities ($2,152) $1,811Net Change in cash position ($9,176) $965Closing cash position $13,536 $22,713
Annual Report Page 22
Annual Report Erie C52259 Round: 3Dec. 31, 2015
2015 Income Statement(Product Name) Eat Ebb Echo Na Egg Na Na Na 2015
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce theproduct that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D departmentexpenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.Promotions: The promotion budget for each product. Sales: The sales force budget for eachproduct. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The feesinclude money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs include the loss you might experience when you sell capacity orliquidate 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 Interestand Taxes. Short Term Interest: Interest expense based on last year''s current debt, including short termdebt, long term notes that have become due, and emergency loans, Long Term Interest: Interest paid onoutstanding bonds. Taxes: Income tax based upon a 35% tax rate. Profit Sharing: Profits sharedwith employees under the labor contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
Other $4,065 3.4%EBIT $8,351 6.9%Short Term Interest $1,289 1.1%Long Term Interest $5,603 4.7%Taxes $511 0.4%Profit Sharing $19 0.0%Net Profit $929 0.8%
Annual Report Page 23
Annual ReportAnnual Report Ferris C52259 Round: 3
Dec. 31, 2015
Balance SheetDEFINITIONS:Common Size: The common sizecolumn simply represents each item as apercentage of total assets for that year.Cash: Your end-of-year cash position.Accounts Receivable: Reflects the lagbetween delivery and payment of yourproducts. Inventories: The currentvalue of your inventory across all products. Azero indicates your company stocked out.Unmet demand would, of course, fall to yourcompetitors. Plant & Equipment: Thecurrent value of your plant. AccumDeprec: The total accumulateddepreciation from your plant. AcctsPayable: What the company currentlyowes suppliers for materials and services.Current Debt: The debt the companyis obligated to pay during the next year ofoperations. It includes emergency loans usedto keep your company solvent should you runout of cash during the year. LongTerm Debt: The company'slong term debt is in the form of bonds, and thisrepresents the total value of your bonds.Common Stock: The amount ofcapital invested by shareholders in thecompany. Retained Earnings:The profits that the company chose to keepinstead of paying to shareholders as dividends.
Common Stock $19,818 16.0% $18,360Retained Earnings $42,040 33.8% $32,951Total Equity $61,858 49.8% $51,311Total Liab. & O. Equity $124,221 100.0% $103,693
Cash Flow StatementThe Cash Flow Statement examines what happened in the CashAccount during the year. Cash injections appear as positive numbers andcash withdrawals as negative numbers. The Cash Flow Statement is anexcellent tool for diagnosing emergency loans. When negative cash flowsexceed positives, you are forced to seek emergency funding. For example,if sales are bad and you find yourself carrying an abundance of excessinventory, the report would show the increase in inventory as a hugenegative cash flow. Too much unexpected inventory could outstrip yourinflows, exhaust your starting cash and force you to beg for money to keepyour company afloat.
Net cash from operation $16,076 $3,572Cash Flows from Investing ActivitiesPlant Improvements ($21,440) ($6,910)Cash Flows from Financing ActivitiesDividends Paid $0 ($3,112)Sales of Common Stock $1,459 $0Purchase of Common Stock $0 $0Cash from long term debt $6,893 $0Retirement of long term debt $0 ($1,967)Change in current debt(net) $1,354 $7,554
Net Cash from financing activities $9,706 $2,475Net Change in cash position $4,341 ($862)Closing cash position $24,000 $19,659
Annual Report Page 24
Annual Report Ferris C52259 Round: 3Dec. 31, 2015
2015 Income Statement(Product Name) Fast Feat Fist Foam Fume Fox Na Na 2015
Definitions: Sales: Unit Sales times list price. Direct Labor: Labor costs incurred to produce theproduct that was sold. Inventory Carry Cost: the cost unsold goods in inventory. Depreciation:Calculated on straight-line. 15-year depreciation of plant value. R&D Costs: R&D departmentexpenditures for each product. Admin: Administration overhead is estimated at 1.5% of sales.Promotions: The promotion budget for each product. Sales: The sales force budget for eachproduct. Other: Chargs not included in other categories such as Fees, Write offs, and TQM. The feesinclude money paid to investment bankers and brokerage firms to issue new stocks or bonds plus consulting fees your instructor might assess. Write-offs include the loss you might experience when you sell capacity orliquidate 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 Interestand Taxes. Short Term Interest: Interest expense based on last year''s current debt, including short termdebt, long term notes that have become due, and emergency loans, Long Term Interest: Interest paid onoutstanding bonds. Taxes: Income tax based upon a 35% tax rate. Profit Sharing: Profits sharedwith employees under the labor contract. Net Profit: EBIT minus interest, taxes, and profit sharing.
Other $3,654 2.0%EBIT $20,630 11.5%Short Term Interest $2,108 1.2%Long Term Interest $4,254 2.4%Taxes $4,994 2.8%Profit Sharing $185 0.1%Net Profit $9,089 5.1%