(Solution) 12/22/2015 Broadening Your Perspective 132 Broadening Your Perspective 132 The Financial Statements Of The Hershey Company And Tootsie Roll Are... | Snapessays.com


(Solution) 12/22/2015 Broadening Your Perspective 132 Broadening Your Perspective 132 The financial statements of The Hershey Company and Tootsie Roll are...


Please help me with the solution to solve this one.12/22/2015

 

Broadening Your Perspective 13­2

 

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Broadening Your Perspective 13­2

 

The financial statements of The Hershey Company and Tootsie Roll are presented below.

 

THE HERSHEY COMPANY

 

CONSOLIDATED STATEMENTS OF INCOME

 

For the years ended December 31,

 

2011

 

2010

 

2009

 

In thousands of dollars except per share

 

amounts

 

Net Sales

 

$6,080,788

 

$5,671,009

 

$5,298,668

 

Costs and Expenses:

 

Cost of sales

 

3,548,896

 

3,255,801

 

3,245,531

 

Selling, marketing and administrative

 

1,477,750

 

1,426,477

 

1,208,672

 

Business realignment and impairment (credits)

 

charges, net

 

(886)

 

83,433

 

82,875

 

Total costs and expenses

 

5,025,760

 

4,765,711

 

4,537,078

 

Income before Interest and Income Taxes

 

1,055,028

 

905,298

 

761,590

 

Interest expense, net

 

92,183

 

96,434

 

90,459

 

Income before Income Taxes

 

962,845

 

808,864

 

671,131

 

Provision for income taxes

 

333,883

 

299,065

 

235,137

 

Net Income

 

$628,962

 

$509,799

 

$435,994

 

Net Income Per Share—Basic—Class B

 

Common Stock

 

$2.58

 

$2.08

 

$1.77

 

Net Income Per Share—Diluted—Class B

 

Common Stock

 

$2.56

 

$2.07

 

$1.77

 

Net Income Per Share—Basic—Common

 

Stock

 

$2.85

 

$2.29

 

$1.97

 

Net Income Per Share—Diluted—Common

 

Stock

 

$2.74

 

$2.21

 

$1.90

 

Cash Dividends Paid Per Share:

 

Common Stock

 

$1.3800

 

$1.2800

 

$1.1900

 

Class B Common Stock

 

1.2500

 

1.1600

 

1.0712

 

The notes to consolidated financial statements are an integral part of these statements and are

 

included in the Hershey's 2011 Annual Report, available at www.thehersheycompany.com.

 

THE HERSHEY COMPANY

 

CONSOLIDATED BALANCE SHEETS

 

December 31,

 

2011

 

2010

 

In thousands of dollars

 

ASSETS

 

Current Assets:

 

Cash and cash equivalents

 

$693,686

 

$884,642

 

Accounts receivable—trade

 

399,499

 

390,061

 

Inventories

 

648,953

 

533,622

 

Deferred income taxes

 

136,861

 

55,760

 

Prepaid expenses and other

 

167,559

 

141,132

 

Total current assets

 

2,046,558

 

2,005,217

 

Property, Plant and Equipment, Net

 

1,559,717

 

1,437,702

 

Goodwill

 

516,745

 

524,134

 

Other Intangibles

 

111,913

 

123,080

 

Deferred Income Taxes

 

38,544

 

21,387

 

Other Assets

 

138,722

 

161,212

 

Total assets

 

$4,412,199

 

$4,272,732

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

Current Liabilities:

 

Accounts payable

 

$420,017

 

$410,655

 

Accrued liabilities

 

612,186

 

593,308

 

Accrued income taxes

 

1,899

 

9,402

 


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