HERSHEY COMPANY $-$ TRANSACTIONS

Please record the following $($amounts in $thousands$)$:

$1$ Sales, on account, $$882,300,$ cost of sale $$358,000.$ Terms $2/10,$ n$/30.$

$2$ Received payment from sales recorded in #$1,$ within $10$ days of sale.

$3$ Made payments on debt, short term. Cash payments for this debt totaled $$18,300,$

including interest of $$3,000.$

$4$ Inventories costing $$86,000$ were returned from customers $($customer had over$-$

ordered Hershey Kisses$).$ Sales price of this order was $$172,000.$ These inventories

were sold on account and cash had not yet been received from the customer.

$5$ Depreciation is recorded on plant and equipment, $$20,000.$

$6$ Cash sales, $$400,000,$ cost of these sales was $$260,000$

THE HERSHEY COMPANY

INCOME STATEMENT

YEAR ENDED DECEMBER $31,2019$

$($$ in thousands$)$

Net Sales $ $7,986,252$

Cost of sales $4,363,774$

Gross profit $3,622,478$

Selling, marketing, admin. $1,905,929$

Long$-$lived and intangible asset impairment charges $112,485$

Business realignment costs $8,112$

Operating profit $1,595,952$

Interest expense, net $144,125$

Other $($income$)$ expense, net $71,043$

Income before income taxes $1,380,784$

Provision for income taxes $234,032$

Net income including noncontrolling interest $1,146,752$

Less: Net loss attributable to noncontrolling interest $(2,940)$

Net income attributable to The Hershey Company $ $1,149,692$

Solve for the revised income statement and show the figures in the income statements