Hershey Company is one of the worlds leading producers of chocolates, candies, and confections. The company sells chocolates and candies, mints and gums, baking ingredients, toppings, and beverages. Hersheys consolidated balance sheets for 2009 and 2010 follow:

Hershey: Consolidated Balance Sheets
(millions)	2009	2010
Assets
Current Assets
Cash and Equivalents	$ 253.6	$ 884.6
Accounts Receivable, Trade	410.4	390.1
Inventories	519.7	533.6
Deferred Income Taxes	39.9	55.8
Prepaid Expenses and Other Assets	161.8	141.1
Total Current Assets	1,385.4	2,005.2
Property, Plant, and Equipment, net	1,404.8	1,437.7
Goodwill and Intangible Assets	571.6	524.1
Other Intangible Assets	125.5	123.1
Deferred Income Taxes and Other Assets	187.7	182.6
Total Assets	$ 3,675.0	$ 4,272.7
Liabilities and Shareholders Equity
Current Liabilities
Accounts Payable	$ 287.9	$ 410.7
Accrued Liabilities and Taxes	583.4	602.7
Short-Term Debt	24.1	24.1
Current Portion of Long-Term Debt	15.2	261.4
Total Current Liabilities	910.6	1,298.9
Long-Term Debt	1,502.7	1,541.8
Other Long-Term Liabilities	501.4	494.4
Total Liabilities	2,914.7	3,335.1
Shareholders Equity
Common Stock	359.9	359.9
Additional Paid-In Capital	394.7	434.9
Retained Earnings	4,148.3	4,374.7
Treasury Stock	(3,979.6)	(4,052.1)
Accumulated Other Comprehensive Loss	(202.9)	(215.1)
Noncontrolling Interests	39.9	35.3
Total Shareholders Equity	760.3	937.6
Total Liabilities and Shareholders Equity	$ 3,675.0	$ 4,272.7

Additional information for 2010: Total sales $5,671.0

Costs of goods sold $3,255.8

Net income $ 509.8

REQUIRED:

1. Compute the common-size balance sheet for 2010 and the rate of change balance sheet for 2010.

2. Compute the following ratios for 2010. Provide a brief description of what each ratio reveals about Hershey.
   1. Return on common equity
   2. Debt-to-assets
   3. Debt-to equity
   4. Current
   5. Quick
   6. Inventory turnover days
   7. Accounts receivable turnover days
   8. Accounts payable turnover days
   9. Operating cycle (in days)
   10. Total asset turnover