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Can i get help with my homework please. I am having a lot of trouble. THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF INCOME For the years

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Can i get help with my homework please. I am having a lot of trouble.

image text in transcribed 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) (886) 83,433 82,875 charges, net 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 ShareBasicClass B $2.58 $2.08 $1.77 Common Stock Net Income Per ShareDilutedClass B $2.56 $2.07 $1.77 Common Stock Net Income Per ShareBasicCommon Stock $2.85 $2.29 $1.97 Net Income Per ShareDilutedCommon $2.74 $2.21 $1.90 Stock 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, In thousands of dollars ASSETS Current Assets: Cash and cash equivalents Accounts receivabletrade Inventories Deferred income taxes Prepaid expenses and other Total current assets Property, Plant and Equipment, Net Goodwill Other Intangibles Deferred Income Taxes Other Assets Total assets LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable Accrued liabilities 2011 2010 $693,686 399,499 648,953 136,861 167,559 2,046,558 1,559,717 516,745 111,913 38,544 138,722 $4,412,199 $884,642 390,061 533,622 55,760 141,132 2,005,217 1,437,702 524,134 123,080 21,387 161,212 $4,272,732 $420,017 612,186 $410,655 593,308 Accrued income taxes Short-term debt Current portion of long-term debt Total current liabilities Long-term Debt Other Long-term Liabilities Total liabilities Commitments and Contingencies Stockholders' Equity: The Hershey Company Stockholders' Equity Preferred Stock, shares issued: none in 2011 and 2010 Common Stock, shares issued: 299,269,702 in 2011 and 299,195,325 in 2010 Class B Common Stock, shares issued: 60,632,042 in 2011 and 60,706,419 in 2010 Additional paid-in capital Retained earnings TreasuryCommon Stock shares, at cost: 134,695,826 in 2011 and 132,871,512 in 2010 Accumulated other comprehensive loss The Hershey Company stockholders' equity Noncontrolling interests in subsidiaries Total stockholders' equity Total liabilities and stockholders'equity 1,899 42,080 97,593 1,173,775 1,748,500 617,276 3,539,551 9,402 24,088 261,392 1,298,845 1,541,825 494,461 3,335,131 299,269 299,195 60,632 60,706 490,817 4,699,597 434,865 4,374,718 (4,258,962) (4,052,101) (442,331) 849,022 23,626 872,648 $4,412,199 (215,067) 902,316 35,285 937,601 $4,272,732 THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS For the years ended December 31, 2011 2010 In thousands of dollars Cash Flows Provided from (Used by) Operating Activities Net income $628,962 $509,799 Adjustments to reconcile net income to net cash provided from operations: Depreciation and amortization 215,763 197,116 Stock-based compensation expense, net of tax of 28,341 32,055 $15,127, $17,413 and $19,223, respectively Excess tax benefits from stock-based compensation (13,997) (1,385) Deferred income taxes 33,611 (18,654) Gain on sale of trademark licensing rights, net of tax of (11,072) $5,962 Business realignment and impairment charges, net of 30,838 77,935 tax of $18,333, $20,635 and $38,308, respectively Contributions to pension plans (8,861) (6,073) Changes in assets and liabilities, net of effects from business acquisitions and divestitures: Accounts receivabletrade (9,438) 20,329 Inventories (115,331) (13,910) Accounts payable 7,860 90,434 Other assets and liabilities (205,809) 13,777 Net Cash Provided from Operating Activities 580,867 901,423 Cash Flows Provided from (Used by) Investing Activities Capital additions (323,961) (179,538) Capitalized software additions (23,606) (21,949) Proceeds from sales of property, plant and equipment 312 2,201 2009 $435,994 182,411 34,927 (4,455) (40,578) 60,823 (54,457) 46,584 74,000 37,228 293,272 1,065,749 (126,324) (19,146) 10,364 Proceeds from sales of trademark licensing rights Business acquisitions Net Cash (Used by) Investing Activities Cash Flows Provided from (Used by) Financing Activities Net change in short-term borrowings Long-term borrowings Repayment of long-term debt Proceeds from lease financing agreement Cash dividends paid Exercise of stock options Excess tax benefits from stock-based compensation Contributions from noncontrolling interests in subsidiaries Repurchase of Common Stock Net Cash (Used by) Financing Activities (Decrease) Increase in Cash and Cash Equivalents Cash and Cash Equivalents as of January 1 Cash and Cash Equivalents as of December 31 Interest Paid Income Taxes Paid 20,000 (5,750) (333,005) (199,286) (15,220) (150,326) 10,834 249,126 (256,189) 47,601 (304,083) 184,411 13,997 1,156 348,208 (71,548) (283,434) 92,033 1,385 (458,047) (8,252) (263,403) 28,318 4,455 10,199 7,322 (384,515) (438,818) (190,956) 884,642 $693,686 (169,099) (71,100) 631,037 253,605 $884,642 (9,314) (698,921) 216,502 37,103 $253,605 $97,892 292,315 $97,932 350,948 $91,623 252,230 TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data) For the year ended December 31, 2011 2010 2009 Net product sales $528,369 $517,149 $495,592 Rental and royalty revenue 4,136 4,299 3,739 Total revenue 532,505 521,448 499,331 Product cost of goods sold 365,225 349,334 319,775 Rental and royalty cost 1,038 1,088 852 Total costs 366,263 350,422 320,627 Product gross margin 163,144 167,815 175,817 Rental and royalty gross margin 3,098 3,211 2,887 Total gross margin 166,242 171,026 178,704 Selling, marketing and administrative expenses 108,276 106,316 103,755 Impairment charges 14,000 Earnings from operations 57,966 64,710 60,949 Other income (expense), net 2,946 8,358 2,100 Earnings before income taxes 60,912 73,068 63,049 Provision for income taxes 16,974 20,005 9,892 Net earnings $43,938 $53,063 $53,157 Net earnings $43,938 $53,063 $53,157 Other comprehensive earnings (loss) (8,740) 1,183 2,845 Comprehensive earnings $35,198 $54,246 $56,002 Retained earnings at beginning of year. $135,866 $147,687 $144,949 Net earnings 43,938 53,063 53,157 Cash dividends (18,360) (18,078) (17,790) Stock dividends (47,175) (46,806) (32,629) Retained earnings at end of year $114,269 $135,866 $147,687 Earnings per share $0.76 $0.90 Average Common and Class B Common shares 57,892 58,685 outstanding (The accompanying notes are an integral part of these statements.) $0.89 59,425 CONSOLIDATED STATEMENTS OF Financial Position TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data) Assets December 31, 2011 2010 CURRENT ASSETS: Cash and cash equivalents $78,612 $115,976 Investments 10,895 7,996 Accounts receivable trade, less allowances of $1,731 and $1,531 41,895 37,394 Other receivables 3,391 9,961 Inventories: Finished goods and work-in-process 42,676 35,416 Raw materials and supplies 29,084 21,236 Prepaid expenses 5,070 6,499 Deferred income taxes 578 689 Total current assets 212,201 235,167 PROPERTY, PLANT AND EQUIPMENT, at cost: Land 21,939 21,696 Buildings 107,567 102,934 Machinery and equipment 322,993 307,178 Construction in progress 2,598 9,243 455,097 440,974 LessAccumulated depreciation 242,935 225,482 Net property, plant and equipment 212,162 215,492 OTHER ASSETS: Goodwill 73,237 73,237 Trademarks 175,024 175,024 Investments 96,161 64,461 Split dollar officer life insurance 74,209 74,441 Prepaid expenses 3,212 6,680 Equity method investment 3,935 4,254 Deferred income taxes 7,715 9,203 Total other assets 433,493 407,300 Total assets $857,856 $857,959 Liabilities and Shareholders' Equity CURRENT LIABILITIES: Accounts payable Dividends payable Accrued liabilities Total current liabilities NONCURRENT LIABILITES: Deferred income taxes Postretirement health care and life insurance benefits Industrial development bonds Liability for uncertain tax positions Deferred compensation and other liabilities December 31, 2011 2010 $10,683 4,603 43,069 58,355 $9,791 4,529 44,185 58,505 43,521 26,108 7,500 8,345 48,092 47,865 20,689 7,500 9,835 46,157 Total noncurrent liabilities SHAREHOLDERS' EQUITY: Common stock, $.69-4/9 par value120,000 shares authorized 36,479 and 36,057 respectively, issued Class B common stock, $.69-4/9 par value40,000 shares authorized 21,025 and 20,466 respectively, issued Capital in excess of par value Retained earnings, per accompanying statement Accumulated other comprehensive loss Treasury stock (at cost)71 shares and 69 shares, respectively Total shareholders' equity Total liabilities and shareholders' equity 133,566 132,046 25,333 25,040 14,601 14,212 533,677 114,269 (19,953) (1,992) 665,935 $857,856 505,495 135,866 (11,213) (1,992) 667,408 $857,959 TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Cash Flows (in thousands) For the year ended December 31, 2011 2010 2009 CASH FLOWS FROM OPERATING ACTIVITIES: Net earnings $43,938 $53,063 $53,157 Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation 19,229 18,279 17,862 Impairment charges 14,000 Impairment of equity method investment 4,400 Loss from equity method investment 194 342 233 Amortization of marketable security premiums 1,267 522 320 Changes in operating assets and liabilities: Accounts receivable (5,448) 717 (5,899) Other receivables 3,963 (2,373) (2,088) Inventories (15,631) (1,447) 455 Prepaid expenses and other assets 5,106 4,936 5,203 Accounts payable and accrued liabilities 84 2,180 (2,755) Income taxes payable and deferred (5,772) 2,322 (12,543) Postretirement health care and life insurance benefits 2,022 1,429 1,384 Deferred compensation and other liabilities 2,146 2,525 2,960 Others (708) 310 305 Net cash provided by operating activities 50,390 82,805 76,994 CASH FLOWS FROM INVESTING ACTIVITIES: Capital expenditures (16,351) (12,813) (20,831) Net purchase of trading securities (3,234) (2,902) (1,713) Purchase of available for sale securities (39,252) (9,301) (11,331) Sale and maturity of available for sale securities 7,680 8,208 17,511 Net cash used in investing activities (51,157) (16,808) (16,364) CASH FLOWS FROM FINANCING ACTIVITIES: Shares repurchased and retired (18,190) (22,881) (20,723) Dividends paid in cash (18,407) (18,130) (17,825) Net cash used in financing activities (36,597) (41,011) (38,548) Increase (decrease) in cash and cash equivalents (37,364) Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 115,976 $78,612 Supplemental cash flow information 24,986 22,082 90,990 $115,976 68,908 $90,990 Income taxes paid $16,906 $20,586 Interest paid $38 $49 Stock dividend issued $47,053 $46,683 (The accompanying notes are an integral part of these statements.) $22,364 $182 $32,538 Based on the information in the financial statements, determine each of the following for each company: The percentage increase (i) in net sales and (ii) in net income from 2010 to 2011. (Round answers to 1 decimal places, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -15.2% or parentheses e.g. (15.2)%.) Hershey Tootsie Roll Percentage increase (decrease) in net sales % % Percentage increase (decrease) in net income % % SHOW SOLUTION The percentage increase (i) in total assets and (ii) in total stockholders' equity from 2010 to 2011. (Round answers to 1 decimal place, e.g. 15.2%. Enter negative amounts using either a negative sign preceding the number e.g. -15.2% or parentheses e.g. (15.2)%.) Hershey Tootsie Roll Percentage increase (decrease) in total assets % % Percentage increase (decrease) in total stockholders' equity % % SHOW SOLUTION The earnings per share for 2011. (Round answers to 2 decimal places, e.g. 15.25.) Hershey Earnings per share Tootsie Roll

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