Problem 10-11 (Static) Understanding note disclosures and financial summary data LO 2, 4,9 This problem is based on the 2017 annual report of Campbell Soup Company. Answer the following questions. Refer to the selected Elnancial Data for parts (a) to (d). Required: a. Find the net sales in 2014. (Enter your answer in millions.) b. Calculate the operating income (earnings before interest and taxes) in 2013. (Enter your answer in millions.) c. Calculate the difference between operating income (earnings before interest and taxes) and net income (net earnings) in 2015. (Enter your answer in millions.) d. Find the year(s) in which net income (net earnings decreased compared to the previous year, e. Find the amount of interest paid for 2017 in the Notes to the finns Statements (Enter your answer in millions.) f. Find the number of stock options exercisable at July 30, 2017 in the Nosed Financial Statements. (Enter your answer in thousands.) g. Find the net sales to customers outside the United States for 2017 in the Noreste sted.inancial Statements (Enter your answer in millions.) h. Find the cost of products sold for the third quarter of 2017 in the North Konstancial Statements (Enter your answer in millions.) million min million a Not sales b. Operating income Difference d. Yearts) Amount of interest paid + Number of stock options exercisable 9 Not Sales h Cost of products mo thousand million million Item 6. Selected Financial Data 20170 20166 2015 20146 201369 S7,890 1,400 1,293 887 $7.961 $8,082 $8,268 $8,052 960 1,054 1,267 1,474 849 949 1.148 1.349 563 666 774 934 81 (231) 563 666 855 703 563 666 866 712 887 887 Fiscal Year (Millions, except per share amounts) Summary of Operations Net sales Eamings before interest and taxes Earnings before taxes Earnings from continuing operations Earnings (loss) from discontinued operations Net earnings Net earnings attributable to Campbell Soup Company Financial Position Plant assets - net Total assets Total debt Total equity Per Share Data Earnings from continuing operations attributable to Campbell Soup Company - basic Earnings from continuing operations attributable to Campbell Soup Company - assuming dilution... Net earnings attributable to Campbell Soup Company - basic Net earnings attributable to Campbell Soup Company - assuming dilution Dividends declared Other Statistics Capital expenditures Weighted average shares outstanding - basic Weighted average shares outstanding - assuming dilution 52,454 $2,407 $2.347 $2,318 $2,260 7,726 7.837 8,077 8.100 8,290 3,536 3,533 4,082 4.003 4,438 1,645 1.533 1,377 1.602 1.192 $ 2.91 $ 1.82 $ 2.13 $ 2.50 $ 3.00 2.89 2.91 1.81 1.82 2.13 2.13 2.48 2.76 2.97 2.27 2.89 1.40 1.81 1.248 2.13 1.248 2.74 1.248 2.25 1.16 S 338 $ 341 305 309 307 311 $ 380 $347 312 314 313 316 S 336 314 317 (All per share amounts below are on a diluted basis) In March 2016 the Financial Accounting Standard Board (FASB) issued guidance that amends accounting for share-based payments, including the accounting for income taxes, forfeitures and statutory withholding requirements, as well as classification in the statement of cash flows We adopted the guidance 2017 Iaccordance with the prospective adoption of the recognition of excest tax benefits and deficiencies in the Consolidated Statements of Earrings we recognized a 5 million tax benefit in Taxes on camins in 2017 In April 2015 the FASB issued guidance that requues debt issuance costs to be presented in the balance sheet as a reduction from the carrying value of the associated debt liability consistent with the presentation of a debt discount. We adopted the muidance 2016 and retrospectively adjusted all prior periods In November 2013 the FASB didance that requires deferred tax liabilities and assets to be classified as one in the balance dieet We adopted the dance 2016 no prospectives and modified the presentation of defend taxes in the Problem 10-11 (Static) Understanding note disclosures and financial summary data LO 2, 4,9 This problem is based on the 2017 annual report of Campbell Soup Company. Answer the following questions. Refer to the selected Elnancial Data for parts (a) to (d). Required: a. Find the net sales in 2014. (Enter your answer in millions.) b. Calculate the operating income (earnings before interest and taxes) in 2013. (Enter your answer in millions.) c. Calculate the difference between operating income (earnings before interest and taxes) and net income (net earnings) in 2015. (Enter your answer in millions.) d. Find the year(s) in which net income (net earnings decreased compared to the previous year, e. Find the amount of interest paid for 2017 in the Notes to the finns Statements (Enter your answer in millions.) f. Find the number of stock options exercisable at July 30, 2017 in the Nosed Financial Statements. (Enter your answer in thousands.) g. Find the net sales to customers outside the United States for 2017 in the Noreste sted.inancial Statements (Enter your answer in millions.) h. Find the cost of products sold for the third quarter of 2017 in the North Konstancial Statements (Enter your answer in millions.) million min million a Not sales b. Operating income Difference d. Yearts) Amount of interest paid + Number of stock options exercisable 9 Not Sales h Cost of products mo thousand million million Item 6. Selected Financial Data 20170 20166 2015 20146 201369 S7,890 1,400 1,293 887 $7.961 $8,082 $8,268 $8,052 960 1,054 1,267 1,474 849 949 1.148 1.349 563 666 774 934 81 (231) 563 666 855 703 563 666 866 712 887 887 Fiscal Year (Millions, except per share amounts) Summary of Operations Net sales Eamings before interest and taxes Earnings before taxes Earnings from continuing operations Earnings (loss) from discontinued operations Net earnings Net earnings attributable to Campbell Soup Company Financial Position Plant assets - net Total assets Total debt Total equity Per Share Data Earnings from continuing operations attributable to Campbell Soup Company - basic Earnings from continuing operations attributable to Campbell Soup Company - assuming dilution... Net earnings attributable to Campbell Soup Company - basic Net earnings attributable to Campbell Soup Company - assuming dilution Dividends declared Other Statistics Capital expenditures Weighted average shares outstanding - basic Weighted average shares outstanding - assuming dilution 52,454 $2,407 $2.347 $2,318 $2,260 7,726 7.837 8,077 8.100 8,290 3,536 3,533 4,082 4.003 4,438 1,645 1.533 1,377 1.602 1.192 $ 2.91 $ 1.82 $ 2.13 $ 2.50 $ 3.00 2.89 2.91 1.81 1.82 2.13 2.13 2.48 2.76 2.97 2.27 2.89 1.40 1.81 1.248 2.13 1.248 2.74 1.248 2.25 1.16 S 338 $ 341 305 309 307 311 $ 380 $347 312 314 313 316 S 336 314 317 (All per share amounts below are on a diluted basis) In March 2016 the Financial Accounting Standard Board (FASB) issued guidance that amends accounting for share-based payments, including the accounting for income taxes, forfeitures and statutory withholding requirements, as well as classification in the statement of cash flows We adopted the guidance 2017 Iaccordance with the prospective adoption of the recognition of excest tax benefits and deficiencies in the Consolidated Statements of Earrings we recognized a 5 million tax benefit in Taxes on camins in 2017 In April 2015 the FASB issued guidance that requues debt issuance costs to be presented in the balance sheet as a reduction from the carrying value of the associated debt liability consistent with the presentation of a debt discount. We adopted the muidance 2016 and retrospectively adjusted all prior periods In November 2013 the FASB didance that requires deferred tax liabilities and assets to be classified as one in the balance dieet We adopted the dance 2016 no prospectives and modified the presentation of defend taxes in the