Question 4

The financial statements of The Hershey Company and Tootsie Roll are presented below.

	THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF INCOME
	For the years ended December 31,		2011			2010		2009
	In thousands of dollars except per share amounts
	Net Sales		$6,080,788			$5,671,009		$5,298,668
	Costs and Expenses:
	Cost of sales		3,548,896			3,255,801		3,245,531
	Selling, marketing and administrative		1,477,750			1,426,477		1,208,672
	Business realignment and impairment (credits) charges, net		(886	)		83,433		82,875
	Total costs and expenses		5,025,760			4,765,711		4,537,078
	Income before Interest and Income Taxes		1,055,028			905,298		761,590
	Interest expense, net		92,183			96,434		90,459
	Income before Income Taxes		962,845			808,864		671,131
	Provision for income taxes		333,883			299,065		235,137
	Net Income		$628,962			$509,799		$435,994
	Net Income Per Share