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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 12.3% $18,360Retained Earnings $83,165 55.9% $54,846Total Equity $101,525 68.3% $73,206Total Liab. & O. Equity $148,679 100.0% $118,040
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 $35,584 $27,343Cash Flows from Investing ActivitiesPlant Improvements ($11,400) ($8,700)Cash Flows from Financing ActivitiesDividends Paid $0 $0Sales of Common Stock $0 $0Purchase of Common Stock $0 $0Cash from long term debt $0 $0Retirement of long term debt ($20,850) $0Change in current debt(net) $20,850 ($13,900)
Net Cash from financing activities $0 ($13,900)Net Change in cash position $24,184 $4,743Closing cash position $50,379 $26,195
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 $7,800 3.7%EBIT $48,500 23.0%Short Term Interest $2,189 1.0%Long Term Interest $1,808 0.9%Taxes $15,576 7.4%Profit Sharing $607 0.3%Net Profit $28,319 13.4%
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 $34,488 15.0% $34,488Retained Earnings $70,271 30.6% $55,135Total Equity $104,759 45.7% $89,623Total Liab. & O. Equity $229,340 100.0% $174,818
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 $32,973 $18,994Cash Flows from Investing ActivitiesPlant Improvements ($43,600) ($31,800)Cash Flows from Financing ActivitiesDividends Paid ($42) $0Sales of Common Stock $0 $8,020Purchase of Common Stock $0 $0Cash from long term debt $34,025 $10,645Retirement of long term debt ($20,850) $0Change in current debt(net) $24,476 ($6,450)
Net Cash from financing activities $37,609 $12,215Net Change in cash position $26,982 ($592)Closing cash position $62,036 $35,054
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 $5,451 2.4%EBIT $37,730 16.4%Short Term Interest $5,654 2.5%Long Term Interest $8,226 3.6%Taxes $8,348 3.6%Profit Sharing $326 0.1%Net Profit $15,177 6.6%
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 $24,276 11.3% $21,043Retained Earnings $63,707 29.6% $68,585Total Equity $87,983 40.9% $89,628Total Liab. & O. Equity $215,149 100.0% $177,993
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 ($4,415) $23,460Cash Flows from Investing ActivitiesPlant Improvements ($49,400) ($31,200)Cash Flows from Financing ActivitiesDividends Paid $0 ($4,207)Sales of Common Stock $3,232 $0Purchase of Common Stock $0 $0Cash from long term debt $36,222 $5,981Retirement of long term debt ($20,850) $0Change in current debt(net) $25,360 ($5,049)
Net Cash from financing activities $43,964 ($3,275)Net Change in cash position ($9,851) ($11,015)Closing cash position $30,713 $40,564
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 $5,723 4.1%EBIT $7,161 5.1%Short Term Interest $6,512 4.6%Long Term Interest $8,154 5.8%Taxes ($2,627) -1.9%Profit Sharing $0 0.0%Net Profit ($4,878) -3.5%
Annual Report Page 19
Annual ReportAnnual Report Digby C52259 Round: 6
Dec. 31, 2018
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 $31,632 12.3% $29,787Retained Earnings $88,453 34.5% $70,830Total Equity $120,085 46.9% $100,617Total Liab. & O. Equity $256,216 100.0% $205,428
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 $23,429 $13,383Cash Flows from Investing ActivitiesPlant Improvements ($29,800) ($43,400)Cash Flows from Financing ActivitiesDividends Paid $0 $0Sales of Common Stock $1,845 $4,487Purchase of Common Stock $0 $0Cash from long term debt $28,444 $11,148Retirement of long term debt ($20,850) $0Change in current debt(net) $19,961 ($3,178)
Net Cash from financing activities $29,400 $12,457Net Change in cash position $23,029 ($17,560)Closing cash position $58,631 $35,602
Annual Report Page 20
Annual Report Digby C52259 Round: 6Dec. 31, 2018
2018 Income Statement(Product Name) Daze Dell Dixie Dot Dune Doom Dust Na 2018
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 $5,264 1.9%EBIT $42,689 15.5%Short Term Interest $6,710 2.4%Long Term Interest $8,285 3.0%Taxes $9,693 3.5%Profit Sharing $378 0.1%Net Profit $17,623 6.4%
Annual Report Page 21
Annual ReportAnnual Report Erie C52259 Round: 6
Dec. 31, 2018
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 $36,353 16.0% $36,353Retained Earnings $71,588 31.5% $53,697Total Equity $107,941 47.5% $90,050Total Liab. & O. Equity $227,351 100.0% $170,870
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 $39,683 $23,985Cash Flows from Investing ActivitiesPlant Improvements ($40,800) ($31,000)Cash Flows from Financing ActivitiesDividends Paid ($7,213) $0Sales of Common Stock $0 $5,010Purchase of Common Stock $0 $0Cash from long term debt $32,094 $7,838Retirement of long term debt ($20,850) $0Change in current debt(net) $26,292 ($9,033)
Net Cash from financing activities $30,323 $3,815Net Change in cash position $29,206 ($3,200)Closing cash position $66,255 $37,049
Annual Report Page 22
Annual Report Erie C52259 Round: 6Dec. 31, 2018
2018 Income Statement(Product Name) Eat Ebb Echo Na Egg Na Na Na 2018
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 $5,355 2.7%EBIT $53,034 27.1%Short Term Interest $5,108 2.6%Long Term Interest $8,475 4.3%Taxes $13,808 7.0%Profit Sharing $539 0.3%Net Profit $25,105 12.8%
Annual Report Page 23
Annual ReportAnnual Report Ferris C52259 Round: 6
Dec. 31, 2018
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 $38,646 17.7% $34,773Retained Earnings $58,245 26.7% $56,252Total Equity $96,891 44.4% $91,025Total Liab. & O. Equity $218,194 100.0% $187,013
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 $1,622 $8,102Cash Flows from Investing ActivitiesPlant Improvements ($21,200) ($34,770)Cash Flows from Financing ActivitiesDividends Paid $0 $0Sales of Common Stock $3,873 $5,234Purchase of Common Stock $0 $0Cash from long term debt $26,749 $10,712Retirement of long term debt ($20,850) $0Change in current debt(net) $19,230 ($1,305)
Net Cash from financing activities $29,003 $14,641Net Change in cash position $9,425 ($12,027)Closing cash position $40,415 $30,990
Annual Report Page 24
Annual Report Ferris C52259 Round: 6Dec. 31, 2018
2018 Income Statement(Product Name) Fast Feat Fist Foam Fume Fox Fuel Na 2018
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 $5,281 2.7%EBIT $16,738 8.6%Short Term Interest $5,983 3.1%Long Term Interest $7,623 3.9%Taxes $1,096 0.6%Profit Sharing $43 0.0%Net Profit $1,993 1.0%