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The financial statements of The Hershey Company and Tootsie Roll are presented below. 1) FIND PROFIT MARGIN FOR 2011 FOR HERSEY AND TOOTSIE ROLL 2)GROSS

The financial statements of The Hershey Company and Tootsie Roll are presented below.
1) FIND PROFIT MARGIN FOR 2011 FOR HERSEY AND TOOTSIE ROLL

2)GROSS PROFIT FOR 2011 FOR HERSEY AND TOOTSIE ROLL ( USE PRODUCT AMOUNTS FOR TOOTSIE ROLL)

3) GROSS PROFIT RATE FOR 2011 FOR BOTH COMPANIES

4) OPERATING INCOME FOR 2011 FOR BOTH COMPANIES

5) PERCENTAGE CHANGE IN OPERATING INCOME FROM 2011 TO 2010 FOR BOTH COMPANIES

THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF INCOME
For the years ended December 31,201120102009
In thousands of dollars except per share amounts
Net Sales$6,080,788

$5,671,009$5,298,668
Costs and Expenses:
Cost of sales3,548,8963,255,8013,245,531
Selling, marketing and administrative1,477,7501,426,4771,208,672
Business realignment and impairment (credits) charges, net(886)83,43382,875
Total costs and expenses5,025,760

4,765,7114,537,078
Income before Interest and Income Taxes1,055,028

905,298761,590
Interest expense, net92,183

96,43490,459
Income before Income Taxes962,845

808,864671,131
Provision for income taxes333,883

299,065235,137
Net Income$628,962

$509,799$435,994
Net Income Per Share—Basic—Class B Common Stock$2.58

$2.08$1.77
Net Income Per Share—Diluted—Class B Common Stock$2.56

$2.07$1.77
Net Income Per Share—Basic—Common Stock$2.85

$2.29$1.97
Net Income Per Share—Diluted—Common Stock$2.74

$2.21$1.90
Cash Dividends Paid Per Share:
Common Stock$1.3800$1.2800$1.1900
Class B Common Stock1.25001.16001.0712
The notes to consolidated financial statements are an integral part of these statements and are included in the Hershey's 2011 Annual Report, available at www.thehersheycompany.com.

THE HERSHEY COMPANY
CONSOLIDATED BALANCE SHEETS
December 31,20112010
In thousands of dollars
ASSETS
Current Assets:
Cash and cash equivalents$693,686$884,642
Accounts receivable—trade399,499390,061
Inventories648,953533,622
Deferred income taxes136,86155,760
Prepaid expenses and other167,559

141,132

Total current assets2,046,5582,005,217
Property, Plant and Equipment, Net1,559,7171,437,702
Goodwill516,745524,134
Other Intangibles111,913123,080
Deferred Income Taxes38,54421,387
Other Assets138,722

161,212

Total assets$4,412,199

$4,272,732

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable$420,017$410,655
Accrued liabilities612,186593,308
Accrued income taxes1,8999,402
Short-term debt42,08024,088
Current portion of long-term debt97,593

261,392

Total current liabilities1,173,7751,298,845
Long-term Debt1,748,5001,541,825
Other Long-term Liabilities617,276

494,461

Total liabilities3,539,551

3,335,131

Commitments and Contingencies
Stockholders’ Equity:
The Hershey Company Stockholders’ Equity
Preferred Stock, shares issued: none in 2011 and 2010
Common Stock, shares issued: 299,269,702 in 2011 and 299,195,325 in 2010299,269299,195
Class B Common Stock, shares issued: 60,632,042 in 2011 and 60,706,419 in 201060,63260,706
Additional paid-in capital490,817434,865
Retained earnings4,699,5974,374,718
Treasury—Common Stock shares, at cost: 134,695,826 in 2011 and 132,871,512 in 2010(4,258,962)(4,052,101)
Accumulated other comprehensive loss(442,331)(215,067)
The Hershey Company stockholders’ equity849,022

902,316

Noncontrolling interests in subsidiaries23,626

35,285

Total stockholders’ equity872,648

937,601

Total liabilities and stockholders’equity$4,412,199

$4,272,732

THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the years ended December 31,201120102009
In thousands of dollars
Cash Flows Provided from (Used by) Operating Activities
Net income$628,962$509,799$435,994
Adjustments to reconcile net income to net cash provided from operations:
Depreciation and amortization215,763197,116182,411
Stock-based compensation expense, net of tax of $15,127, $17,413 and $19,223, respectively28,34132,05534,927
Excess tax benefits from stock-based compensation(13,997)(1,385)(4,455)
Deferred income taxes33,611(18,654)(40,578)
Gain on sale of trademark licensing rights, net of tax of $5,962(11,072)
Business realignment and impairment charges, net of tax of $18,333, $20,635 and $38,308, respectively30,83877,93560,823
Contributions to pension plans(8,861)(6,073)(54,457)
Changes in assets and liabilities, net of effects from business acquisitions and divestitures:
Accounts receivable—trade(9,438)20,32946,584
Inventories(115,331)(13,910)74,000
Accounts payable7,86090,43437,228
Other assets and liabilities(205,809)13,777293,272
Net Cash Provided from Operating Activities580,867

901,423

1,065,749

Cash Flows Provided from (Used by) Investing Activities
Capital additions(323,961)(179,538)(126,324)
Capitalized software additions(23,606)(21,949)(19,146)
Proceeds from sales of property, plant and equipment3122,20110,364
Proceeds from sales of trademark licensing rights20,000
Business acquisitions(5,750)(15,220)
Net Cash (Used by) Investing Activities(333,005)(199,286)(150,326)
Cash Flows Provided from (Used by) Financing Activities
Net change in short-term borrowings10,8341,156(458,047)
Long-term borrowings249,126348,208
Repayment of long-term debt(256,189)(71,548)(8,252)
Proceeds from lease financing agreement47,601
Cash dividends paid(304,083)(283,434)(263,403)
Exercise of stock options184,41192,03328,318
Excess tax benefits from stock-based compensation13,9971,3854,455
Contributions from noncontrolling interests in subsidiaries10,1997,322
Repurchase of Common Stock(384,515)(169,099)(9,314)
Net Cash (Used by) Financing Activities(438,818)(71,100)(698,921)
(Decrease) Increase in Cash and Cash Equivalents(190,956)631,037216,502
Cash and Cash Equivalents as of January 1884,642253,60537,103
Cash and Cash Equivalents as of December 31$693,686

$884,642

$253,605

Interest Paid$97,892$97,932$91,623
Income Taxes Paid292,315350,948252,230

TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data)
For the year ended December 31,
201120102009
Net product sales$528,369$517,149$495,592
Rental and royalty revenue4,1364,2993,739
Total revenue532,505

521,448

499,331

Product cost of goods sold365,225349,334319,775
Rental and royalty cost1,0381,088852
Total costs366,263

350,422

320,627

Product gross margin163,144167,815175,817
Rental and royalty gross margin3,0983,2112,887
Total gross margin166,242

171,026

178,704

Selling, marketing and administrative expenses108,276106,316103,755
Impairment charges14,000
Earnings from operations57,966

64,710

60,949

Other income (expense), net2,946

8,358

2,100

Earnings before income taxes60,912

73,068

63,049

Provision for income taxes16,974

20,005

9,892

Net earnings$43,938

$53,063

$53,157

Net earnings$43,938$53,063$53,157
Other comprehensive earnings (loss)(8,740)1,1832,845
Comprehensive earnings$35,198

$54,246

$56,002

Retained earnings at beginning of year.$135,866$147,687$144,949
Net earnings43,93853,06353,157
Cash dividends(18,360)(18,078)(17,790)
Stock dividends(47,175)(46,806)(32,629)
Retained earnings at end of year$114,269

$135,866

$147,687

Earnings per share$0.76$0.90$0.89

Average Common and Class B Common shares outstanding57,89258,68559,425
(The accompanying notes are an integral part of these statements.)

CONSOLIDATED STATEMENTS OF
Financial Position
TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)
AssetsDecember 31,
20112010
CURRENT ASSETS:
Cash and cash equivalents$78,612$115,976
Investments10,8957,996
Accounts receivable trade, less allowances of $1,731 and $1,53141,89537,394
Other receivables3,3919,961
Inventories:
Finished goods and work-in-process42,67635,416
Raw materials and supplies29,08421,236
Prepaid expenses5,0706,499
Deferred income taxes578689
Total current assets212,201

235,167

PROPERTY, PLANT AND EQUIPMENT, at cost:
Land21,93921,696
Buildings107,567102,934
Machinery and equipment322,993307,178
Construction in progress2,598

9,243

455,097

440,974

Less—Accumulated depreciation242,935

225,482

Net property, plant and equipment212,162

215,492

OTHER ASSETS:
Goodwill73,23773,237
Trademarks175,024175,024
Investments96,16164,461
Split dollar officer life insurance74,20974,441
Prepaid expenses3,2126,680
Equity method investment3,9354,254
Deferred income taxes7,7159,203
Total other assets433,493

407,300

Total assets$857,856

$857,959

Liabilities and Shareholders’ EquityDecember 31,
20112010
CURRENT LIABILITIES:
Accounts payable$10,683$9,791
Dividends payable4,6034,529
Accrued liabilities43,06944,185
Total current liabilities58,355

58,505

NONCURRENT LIABILITES:
Deferred income taxes43,52147,865
Postretirement health care and life insurance benefits26,10820,689
Industrial development bonds7,5007,500
Liability for uncertain tax positions8,3459,835
Deferred compensation and other liabilities48,09246,157
Total noncurrent liabilities133,566

132,046

SHAREHOLDERS’ EQUITY:
Common stock, $.69-4/9 par value—120,000 shares authorized—36,479 and 36,057 respectively, issued25,33325,040
Class B common stock, $.69-4/9 par value—40,000 shares authorized—21,025 and 20,466 respectively, issued14,60114,212
Capital in excess of par value533,677505,495
Retained earnings, per accompanying statement114,269135,866
Accumulated other comprehensive loss(19,953)(11,213)
Treasury stock (at cost)—71 shares and 69 shares, respectively(1,992)(1,992)
Total shareholders’ equity665,935

667,408

Total liabilities and shareholders’ equity$857,856

$857,959

TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF
Cash Flows (in thousands)

For the year ended December 31,
201120102009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings$43,938$53,063$53,157
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation19,22918,27917,862
Impairment charges14,000

Impairment of equity method investment

4,400

Loss from equity method investment

194342233

Amortization of marketable security premiums

1,267522320

Changes in operating assets and liabilities:

Accounts receivable

(5,448)717(5,899)

Other receivables

3,963(2,373)(2,088)

Inventories

(15,631)(1,447)455

Prepaid expenses and other assets

5,1064,9365,203

Accounts payable and accrued liabilities

842,180(2,755)

Income taxes payable and deferred

(5,772)2,322(12,543)

Postretirement health care and life insurance benefits

2,0221,4291,384

Deferred compensation and other liabilities

2,1462,5252,960

Others

(708)310305
Net cash provided by operating activities50,390

82,805

76,994

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures

(16,351)(12,813)(20,831)

Net purchase of trading securities

(3,234)(2,902)(1,713)

Purchase of available for sale securities

(39,252)(9,301)(11,331)

Sale and maturity of available for sale securities

7,6808,20817,511

Net cash used in investing activities

(51,157)(16,808)(16,364)
CASH FLOWS FROM FINANCING ACTIVITIES:

Shares repurchased and retired

(18,190)(22,881)(20,723)

Dividends paid in cash

(18,407)(18,130)(17,825)

Net cash used in financing activities

(36,597)(41,011)(38,548)
Increase (decrease) in cash and cash equivalents(37,364)24,98622,082
Cash and cash equivalents at beginning of year115,97690,99068,908
Cash and cash equivalents at end of year$78,612$115,976$90,990
Supplemental cash flow information

Income taxes paid

$16,906$20,586$22,364

Interest paid

$38$49$182

Stock dividend issued

$47,053$46,683$32,538
(The accompanying notes are an integral part of these statements.)


Based on the information contained in these financial statements, determine the following values for each company. (Round all percentages to 1 decimal places, e.g. 17.5%, and all other answers to thousands).

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