Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Absolutely crazy how much material is required for 2 questions. Need to compute the accounts receivable turnover and average collection period. Thanks! Broadening Your Perspective
Absolutely crazy how much material is required for 2 questions. Need to compute the accounts receivable turnover and average collection period. Thanks!
Broadening Your Perspective 8-2 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 In thousands of dollars except per share amounts Net Sales Costs and Expenses: 2011 2010 2009 Cost of sales 3,548,896 3,255,801 3,245,531 1,477,750 1,426,4771,208,672 (886)83,43382,875 Selling, marketing and administrative Business realignment and impairment (credits) charges, net Total costs and expenses Income before Interest and Income Taxes 1,055,028 92,183 905,298 96,434 761,590 90,459 Interest expense, net Income before Income Taxes 333,883 ),0,2,1 Provision for income taxes Net Income Net Income Per Share-Basic-Class B Common Stock Net Income Per Share-Diluted-Class B Common Stock Net Income Per Share-Basic-Common Stock Net Income Per Share-Diluted-Common Stock Cash Dividends Paid Per Share: Common Stock Class B Common Stock $1.3800 1.2500 $1.2800 1.1600 $1.1900 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 In thousands of dollars 2011 2010 Current Assets: Cash and cash equivalents Accounts receivable-trade Inventories Deferred income taxes Prepaid expenses and other $693,686 $884,642 390,061 533,622 55,760 399,499 648,953 136,861 167,559 Total current assets Property, Plant and Equipment, Net 2,046,558 2,005,217 1,559,717 1,437,702 524,134 123,080 21,387 161,212 $4,412,199 $4,272,732 516,745 111,913 38,544 138,722 Other Intangibles Deferred Income Taxes Other Assets Total assetsStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started