Exhibit contains the income statements and balance sheets of The Hershey Company, manufacturer of such well-known products as Hershey's chocolate bars, Reese's peanut butter cups, Almond Joy candy bars, and York peppermint patties EXHIBIT 12-17 The Hershey Company Years Ended December 31, 2011, and December 31, 2010 (S in thousands, except CONSOLIDATED BALANCE SHEETS Current assets: Cash and cash equivalents Accounts receivable-trade Inventories Deferred income taxes Prepaid expenses and other 693,686 884,642peshare data) 399.499 648,953 136.861 390,061 533,622 55.760 2.005,217 1.437,702 524,134 123.080 21,387 161.212 Total current assets Property, plant, and equipment, net Goodwill Other intangbles Deferred income taxes Other assets 2.046.558 1,559,717 516,745 111,913 8,544 138.722 412.199 Total assets Liabilitios and Stockholders' Equlty Current liabilities: 272.7 420.017 612.186 1899 42.080 410,655 593,308 9.402 24,088 s payable Accrued liabilities Accrued income taxes Short term debt Current portion of longterm debt Total current liabilities 1.173,775 1,748,500 1.298,845 1,541,825 Other long-term liabilities 46 Total liabilities 3,539.55 3.335,131 Stockholders'equity: Common stock, shares issued: 299,269.702 in 2011 299.269 299.195 and 299.195,325 in 2010 Class B Common stock, shares is sued: 60,632.042 in 2011 and 60,706,419 in 2010 Additional paidin-capital Retained earnings Treasury-Common stock shares, at cost: 60,632 90,817 4,699,597 60.706 434865 4,374,718 34,695,826 In 2011 and 132,871,512 in 2010 The Hershey Company stockholders' equity Total stockholders' equity (4,258,962) (4,052,101) Accumulated other comprehensive loss Noncontrolling interests in subsidianes Total liabilities and stockholders' equity (442.331) 215,067 902,316 849,022 272.7 1. Compute the following ratios for 2011: (a) current, (b) average collection period, and (c) inventory turnover. Assume all sales are on credit 2. Assess Hershey's liquidity compared with the following averages for the food processing industry as provided by Reuters and with ratios computed for Tootsie Roll, a competitor in the candy manufacturing, marketing, sales, and distribution industry. Reuters provides the following overview of the food processing industry. The industry consists of "companies engaged in processing and packaging produce, meats, fish, animal feeds, fruit juices and dairy products. The industry includes, grain milling, crop cleaning, grading and packaging animal slaughtering and packaging operations, seafood processing, freezing, canning operations, juice, coffee, tea, dairy and all other food manufacturers, including pet foods