Quaker Oats Company Refer to the following financial statements of Quaker Oats Company. INCOME STATEMENT Year ended June 30 (Smillions except per share data) Year 10 Year 9 Net sales $.4912 $5.0306 Cost of goods sold. 2,839.7 Gross profit 2,651.5 2,304.7 22241 Selling, general and administrative expenses 184.1 Interest expense net of $90, $110, and $124 interest income 101.8 164 1496 382.4 Income from continuing operations before income tanes Provision for income taxes 175.7 153.5 Income from continuing operations 2358 2289 1489 Income (loss from discontinued operations-net of tax Net income, 2058 Preferred dividends net of tax 45 Net income available for common 2015 1645 2030 Per common share Income from continuing operations 305 188 Income (loss) from discontinued operations. Net income 215 256 156 140 120 75,904 Average number of common shares outstanding in thousands) BALANCE SHEET June 30 (S millions Year 10 Year 9 Current assets 302 210 Cash and cash equivalents Short-term investments, at cost which approximatesmarket. Receivables net of allowances 6299 5944 Finished goods 324.1 Grain and raw materials 110.7 Packaging materials and supplies. 391 4739 479. Other current assets 1145 070 Net current assets of discontinued operations Total curent assets 1.258 l 14813 15199 Other receivables and investments Property, plant, and equipment 1,914.6 1.745.6 14569 Less accumulated depreciation 49.3 Properties net 1,232.7 1.154.1 Page 536 Quaker Oats Company Refer to the following financial statements of Quaker Oats Company. INCOME STATEMENT Year ended June 30 (Smillions except per share data) Year 10 Year 9 Net sales $.4912 $5.0306 Cost of goods sold. 2,839.7 Gross profit 2,651.5 2,304.7 22241 Selling, general and administrative expenses 184.1 Interest expense net of $90, $110, and $124 interest income 101.8 164 1496 382.4 Income from continuing operations before income tanes Provision for income taxes 175.7 153.5 Income from continuing operations 2358 2289 1489 Income (loss from discontinued operations-net of tax Net income, 2058 Preferred dividends net of tax 45 Net income available for common 2015 1645 2030 Per common share Income from continuing operations 305 188 Income (loss) from discontinued operations. Net income 215 256 156 140 120 75,904 Average number of common shares outstanding in thousands) BALANCE SHEET June 30 (S millions Year 10 Year 9 Current assets 302 210 Cash and cash equivalents Short-term investments, at cost which approximatesmarket. Receivables net of allowances 6299 5944 Finished goods 324.1 Grain and raw materials 110.7 Packaging materials and supplies. 391 4739 479. Other current assets 1145 070 Net current assets of discontinued operations Total curent assets 1.258 l 14813 15199 Other receivables and investments Property, plant, and equipment 1,914.6 1.745.6 14569 Less accumulated depreciation 49.3 Properties net 1,232.7 1.154.1 Page 536