Required:

a. Calculate ROI for 2017.

b. Calculate ROE for 2017.

c. Calculate working capital at July 30, 2017, and July 31, 2016.

d. Calculate current ratio at July 30, 2017, and July 31, 2016.

e. Calculate Acid-test ratio at July 30, 2017, and July 31, 2016.

a.	ROI		%
b.	ROE		%

		07/30/2017	07/31/2016
c.	Working Capital
d.	Current ratio
e.	Acid-test Ratio

2017 2016 Financial Highlights (dollars in millions, except per share amounts) , Results of Operations Net Sales Gross Profit Percent of Sales Earnings before interest and taxes Net earnings attributable to Campbell Soup Company Per share-diluted Other Information Net cash provided by operating activities Capital expenditures Dividends per share $ 7,890 $ 3,059 38.8% $ 1,400 $ 887 $ 2.89 $ 7,961 $ 2,780 34.9% $ 960 $ 563 $ 1.81 $ 1.291 $ 338 $ 1.40 $ $ $ 1,491 341 1.248 In 2017, Net earnings attributable to Campbell Soup Company included the following: a restructuring charge, related costs and administrative expenses of $37 ($0.12 per share) associated with restructuring and cost savings initiatives; gains of $116 ($0.38 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; impairment charges of $180 ($0.59 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh Gourmet reporting unit, and a tax benefit and reduction to interest expense of $56 ($0.18 per share) primarily associated with the sale of intercompany notes receivable to a financial institution In 2016, Net earnings attributable to Campbell Soup Company included the following: a restructuring charge and administrative expenses of 549 ($0.16 per share) associated with restructuring and cost savings initiatives; losses of $200 (50.64 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; an impairment charge of $127 ($0.41 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit, and a gain of $25 ($0.08 per share) associated with a settlement of a claim related to the Kelsen acquisition See below for a reconciliation of the impact of these items on reported results. Reconciliation of GAAP and Non-GAAP Financial Measures The following information is provided to reconcile certain non-GAAP financial measures disclosed in the Letter to Shareholders to reported sales and earnings results. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be considered in addition to, not in lieu of, GAAP reported measures. We believe that presenting certain non-GAAP financial measures facilitates comparison of our historical operating results and trends in our underlying operating results, and provides transparency on how we evaluate our business. For instance, we believe that organic net sales, which exclude the impact of currency, are a better indicator of our ongoing business performance. We also believe that the financial information excluding certain transactions not considered to be part of the ongoing business improves the comparability of year-to-year earnings results. Consequently, we believe that investors may be able to better understand our earnings results if these transactions are excluded from the results. 2017 $ 7,890 2016 $ 7,961 (dollars in millions) Net Sales Volume and Mix Price and Sales Allowances Promotional Spending .... Organic Growth ............. Currency Total The sum of the individual amounts does not add due to rounding % Change -1% -1% 0% -1% -1% 0% -1% 2017 Earnings % Change EPS % Change 2016 Diluted Earnings EPS Impact Impact Diluted EPS Impact Earnings Impact 2017/2016 2017/2016 .................. $ 887 $ 2.89 $563 $1.81 37 0.12 49 0.16 (dollars in millions, except per share amounts) ....................... Net earnings attributable to Campbell Soup Company, as reported Restructuring charges, implementation costs and other related costs Pension and postretirement benefit mark-to-market adjustments Impairment charges Sale of notes Claim settlement Adjusted Net earnings attributable to Campbell Soup Company (116) ) 180 (56) (0.38) 0.59 (0.18) 200 127 0.64 0.41 (25) (0.08) $ 932 $ 3.04 $914 $2.94 2% 3% CAMPBELL SOUP COMPANY Consolidated Balance Sheets (millions, except per share amounts) July 30, 2017 July 31, 2016 S 319 $ 605 296 626 940 902 74 1,900 2,454 2,115 1.118 139 7,726 46 1,908 2,407 2.263 1,152 107 7,837 S $ S $ 1,037 666 561 111 20 Current assets Cash and cash equivalents Accounts receivable, net Inventories Other current assets Total current assets. Plant assets, net of depreciation Goodwill Other intangible assets, net of amortization Other assets ($51 as of 2017 and $34 as of 2016 attributable to variable interest entity) Total assets. Current liabilities Short-term borrowings Payable to suppliers and others Accrued liabilities Dividends payable Accrued income taxes Total current liabilities. Long-term debt Deferred taxes Other liabilities Total liabilities. Commitments and contingencies Campbell Soup Company shareholders' equity Preferred stock, authorized 40 shares, none issued Capital stock, S.0375 par value; authorized 560 shares; issued 323 shares. Additional paid-in capital. Earnings retained in the business Capital stock in treasury, at cost. Accum comprehensive loss. Total Campbell Soup Company shareholders' equity. Noncontrolling interests Total equity Total liabilities and equity 1,219 610 604 100 22 2,555 2,314 396 1,039 6,304 2,395 2,499 490 697 6,081 12 359 2,385 (1,066) (53) 1,637 8 1,645 7,726 $ 12 354 1,927 (664) (104) 1,525 8 1,533 7,837 S See accompanying Notes to Consolidated Financial Statements. Item 6. Selected Financial Data 20170) 201612) 20150 2014 201305 Fiscal Year (Millions, except per share amounts) Summary of Operations Net sales ........ $7,890 $7,961 $8,082 $8,268 $8,052 1,400 960 1,054 1,267 1,474 1,293 849 949 1,148 1,349 887 563 666 774 934 81 (231) 887 563 666 855 703 887 563 666 866 712 $2,454 $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 Earnings 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 Earings 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. $ 2.91 $ 1.82 $ 2.13 $ 2.50 $ 3.00 2.89 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 $ 338 $ 341 $ 380 $ 347 $ 336 305 309 312 314 314 307 311 313 316 317 (All per share amounts below are on a diluted basis) In March 2016, the Financial Accounting Standards 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 in 2017. In accordance with the prospective adoption of the recognition of excess tax benefits and deficiencies in the Consolidated Statements of Earnings, we recognized a $6 million tax benefit in Taxes on earnings in 2017. In April 2015, the FASB issued guidance that requires 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 guidance in 2016 and retrospectively adjusted all prior periods. In November 2015, the FASB issued guidance that requires deferred tax liabilities and assets to be classified as noncurrent in the balance sheet. We adopted the guidance in 2016 on a prospective basis and modified the presentation of deferred taxes in the Consolidated Balance Sheet as of July 31, 2016. The 2014 fiscal year consisted of 53 weeks. All other periods had 52 weeks. - The 2017 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following a restructuring charge, related costs and administrative expenses of $37 million ($.12 per share) associated with restructuring and cost savings initiatives; gains of $116 million (S.38 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; impairment charges of $180 million (S.59 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh Gourmet reporting unit; and a tax benefit and reduction to interest expense of $56 million ($. 18 per share) primarily associated with the sale of intercompany notes receivable to a financial institution. @ The 2016 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and administrative expenses of S49 million (S.16 per share) associated with restructuring and cost savings initiatives; losses of $200 million (5.64 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; a gain of $25 million (5.08 per share) associated with a settlement of a claim related to the Kelsen acquisition; and an impairment charge of $127 million (S.41 per share) related to the intangible assets of the Bolthouse Farms carrot and carrot ingredients reporting unit. * The 2015 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and administrative expenses of $78 million ($.25 per share) associated with restructuring and cost savings initiatives and losses of $87 million (S.28 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans. The 2014 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and related costs of $36 million (S.11 per share) associated with restructuring initiatives; losses of $19 million (5.06 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; a loss of $6 million ($.02 per share) on foreign exchange forward contracts used to hedge the proceeds from the sale of the European simple meals business: $7 million ($.02 per share) tax expense associated with the sale of the European simple meals business, and the estimated impact of the additional week of $25 million ($.08 per share). Earnings from discontinued operations included a gain of $72 million ($.23 per share) on the sale of the European simple meals business. The 2013 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following: a restructuring charge and related costs of $87 million ($.27 per share) associated with restructuring initiatives, gains of $183 million (S.58 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; and $7 million ($.02 per share) of transaction costs related to the acquisition of Bolthouse Farms. Earnings from discontinued operations were impacted by an impairment charge on the intangible assets of the simple meals business in Europe of $263 million ($.83 per share) and tax expense of $18 million (S.06 per share) representing taxes on the difference between the book value and tax basis of the business. (4)