Exhibit contains the income statements and balance sheets of The Hershey Company for the years ended December 31, 2011, and December 31, 2010. Hershey is a manufacturer of chocolate and sugar confectionery products. The companys principal product groups include chocolate and confectionery products; food and beverage enhancers, such as baking ingredients, toppings, and beverages; and gum and mint refreshment products.

1. Prepare common-size statements for Hershey for 2011 and 2010. 2. Comment on the changes in component percentages from 2011 to 2010.

CONSOLIDATED BALANCE SHEETS 2011 2010 Assets Current assets: Cash and cash equivalents Accounts receivableLtrade $ 693,686 399, 499 $ 884,642 390.061 EXHIBIT The Hershey Company Years Ended December 31 2011, and December 31, 2010 ($ in thousandsexcept per share data) Inventories Deferred income taxes Prepaid expenses and other Total current assets Property, plantand equipment, net Goodwil Other intangibles Deferred income taxes Other assets Total assets 648,953 136.861 167.559 533,622 55,760 14A1.132 2.046.558 1.559.717 516.7 45 111913 38.544 138.722 2.005.217 1,437,702 524.134 123.080 21.387 161.212 B4412,199 $4.272.732 Liabilities and stockholders' Equity current liabilities: Accounts payable $ 420.017 $ 410,655 Accrued liabilities 612,186 593,308 Accrued income taxes 1899 9,402 short-term debt 42.080 24.088 Current portion of long term debt 97593 261.392 Total current liabilities 1,173.7 75 1.298.845 Long-term debt 1,748,500 1.541.825 Other longterm liabilities 617.276 494,461 Total liabilities 3,539.55133.335,131 Stockholders' equity: common stock, shares issued: 299.269,702 in 2011 and 299.195,325 in 2010 299.269 299.195 Class B Common stock, shares issued: 60,632,042 in 2011 and 60,706,419 in 2010 60.632 60,70s Additional paidin-capital 490.817 434.865 Retained earnings 4,699.597 4.374,718 Treasury Common stock shares, at cost 134,695,826 in 2011 and 132.871.512 in 2010 (4,258,962) (4,052,101) Accumulated other comprehensive loss 442,331 15,067) The Hershey Company stockholders' equity 849,022 902.316 Noncontrolling interests in subsidiaries 23.626 35.285 Total stockholders' equity 872.648937.601 Total liabilities and stockhokders' equity 412,199 $4.272.732 (