statement Case 13.33 LO 5,7 mancial reporting, manufacturing firm-Internet assignment Campbell Soup company provides access to its annual reports online at campbellsoup.com. The annual reports are found in the "All Campbell Brands/Investors/Financial Information/ Annual Reports" area of its website. Locate the following information in the annual reports provided for 2017 and 2015: 1. From the supplementary financial statement data, find the composition of the beginning and ending inventory for each of the following balance sheet accounts: Raw Material, Work in Process, and Finished Goods. 4. From the consolidated statements of income. find the amount for Cost of Sales 3. From the consolidated balance sheets, find the amount for Inventories. 4. From the management's discussion and analysis, find the overview section that explains Gross Profit Required: a. Calculate the cost of goods manufactured for 2017, 2016, and 2015. b. Calculate the total amount of combined cost incurred in 2017, 2016, and 2015 for raw material direct labor, and manufacturing overhead. Part 2 Managerial Accounting Discussion and Analysis of Financial Condition y the ratio of cost of sales to net sales for c. From the 2017 "Management's Discussion and Analys and Results of Operations, identify the ratio of cost of 2017, 2016, and 2015. Comment on the overall trend. d. Review Chapter 11 if necessary and calculate the inventory sales in inventory for 2017. 2016, and 2015. Com a calculate the inventory turnover and day's tor 2017, 2016, and 2015. Comment on the overall trend. world leader in CAMPBELL SOUP COMPANY Consolidated Balance Sheets millions, rept per share amenints) $ Other current Total current Plantas metode 119 OS 902 74 1.900 2,454 2,115 1.118 139 7,726 1,90% 2.4407 2,263 1.152 107 $ **** .. S 1 $ Other intangible set of morti Other ass STO Stor 2017 and 2017 and 534 of 2016 attributable to variable interest entity) ..... Total Current l es Short-term borrowings. Payable to suppliers and others.. Accrued abilities Dividends payable ......... Accrued income taxes.... .... .... Total current liabilities.......... ........ Long-term debt...... **** Deferred taxes.............. Other liabilities................. Total liabilities ...................... ......... o n es.................. Commitments and contingencies Campbell Soup Company shareholders' equity Preferred stock, authorized 40 shares, none issued .... . . one 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................ . .... . . Accumulated other comprehensive loss........................ .............. Total Campbell Soup Company shareholders' equity Noncontrolling interests ......................................................... . ................ oral equity .............................................. .. Total liabilities and equity ................................................. ,037 666 561 111 20 2,395 3 5 2,499 490 697 6,081 1,219 610 604 100 22 2,555 2,314 396 1.039 6,304 12 359 2,385 (1,066) (53) 1,637 354 1,927 (664) (104) 1,525 8 8 1,645 7,726 1,533 7,837 $ See accompanying Notes to Consolidated Financial Statements. CAMPRESOWIP COMPANY dated States of the Netering Comprehens Inceme Other comprehensive Income - 403 45 45 5 012) 1 (11) Foreign currency translate Foreign currency translation adjustments Cash-Now hedges: Unrealized grims (losses) arising during period ....... Reslassification justment for (gains) losses included in het CHT, Pension and other pestretirement benefits: Prior service credit arising during the period... Reclassification of prior service credit included in met camins dings... (25) (25) (16) (1) (1) (2) (1) (6) $ ome (less). $ 5 (loss). J5 (16) S (320) 5 51 938 67 630 6 (314) 5 S Other comprehensive income (eu). Total comprehensive Income (s) Total comprehensive income (less) attributable to controlling interests Total comprehensive Income (less) attributable to Campbell Soup Company (1) sce accompanying Notes to consolidated Financial Statements Appendik CAMPBELL SOUP COMPANY Consolidated Statements and millions, encept per share am ) Campbell pay Shareholders' Equity Capital Seach in Treasury A nal Heard shar Ameni 12 1 3 14 Earning # Nontrolling wed Nhar A 145 5 2014 Nelearning Cherownie come 013) (295) (244) Diusden (51 24 share Trewry stack purchased.... Treasury sed under 371 12 (5 33 ) 339 1.294 Balance August, 2015... 563 Tags Nelingslo) Other comprehensive income (390) (143) ay (43 50 Dividends (51 246 per bal They stack parchased.. Treasury stock immed under menpement incentive and e optice plans .... 15 25 (64) 354 1.927 323 15) 1 2 (429) (429) (437) Balance July 31, 2016 ... Net earning (less).. .. Other comprehensive income (less), Dividends (51.40 per share).. Treasury stock purchased... Treasury stock and under management incentive and stock option plans.. 40 5 3 99 35 (22) 5 (1.166) S 5 1,645 2,385 (53) 323 S 12 Balance st July 20, 2017... See accompanying Notes to Consolidated Financial Statements. Appendix CAMPRELL SOUP COMPANY Consolidated States of Colony 1017 2016 ART 561 5 212 31 118 318 15 (53) 1,291 (58) 1.491 11 (52) 1,206 (338) (341) (380) 15 (232) Cash flows from wperating activities Netramings Adjustments to reconcile nel camnings asperating Impairment charges Restructuring charges Stock-based compensation Pension and retirement benefit pente Depreciations and animation Deferred income taxes Other .. Changes in working capital, net of acquisition Accounts receivable... Inventories Prepaid assets... Accounts payable and recrued liabilities Pension fund contributions .. Net receipts from hedging activities Other Net cash provided by operating activities Cash flows from investing activities: Purchases of plant assets .... Sales of plant assets.... Business acquired, net of cash acquired .. Other, net... Net cash used in investing activities........... Cash Nons from financing activities: Net short-term borrowings (repayments)..... Long-term borrowings Long-term repayments Repayments of notes payable... Dividends paid Treasury stock purchases...... Treasury stock issuances... Contributions from noncontrolling interest ...... ... Payments related to tax withholding for stock-based compensation........ Othernet.... ....... ........................... .... . ... Net cash used in financing activities ........ ... .... ...... Effect of exchange rate changes on cash.............................. .. . ... Net change in cash and cash equivalents ....... . . ...... ....... .. Cash and cash equivalents-beginning of period ...... ..... .. Cash and cash equivalents-end of period .....................................S (30) (368) (18) (354) (603) 245 (762) 215 100 300 211 (90) (400) (420) (390) (143) (309) (394) (244) 9 (437) 2 (22) (21) (911) (1,099) 115 23 43 296 253 3 195 296 (18) (3) (350) (32) 21 $ 253 See accompanying Notes to Consolidated Financial Statements. "emFinancial States and Sup er CAMERELE SOUP COMPANY Consolidated Statements of EARNIR millions, erupt per share Amount) 2011 $ 7,890 $ 7,961 $ ,082 5.181 893 5.100 884 4,831 817 488 98 218 124 117 24 IN 31 102 Net sales Costs and expenses Cost of products sold.. Marketing and selling expenses Administrative expenses..... . Research and development expenses. Other expenses income).... Restructuring charges.. ....... Total costs and expenses ........ Earnings before interest and taxes. Interest expense ... Interest income.............. ....... Earnings before taxes................ . ................ Taxes on earnings............ Net earnings ............................ Less: Net earnings (loss) attributable to noncontrolling interests 6,490 7,028 1,400 7.001 960 115 1,054 108 112 949 1,293 849 286 406 283 666 887 563 887 S 563 666 $ ing interests .... . ... . ................S $ $ 2.91 305 1.82 309 2.13 312 Net earnings attributable to Campbell Soun Campany........ Per Share - Basic Net earnings attributable to Campbell Soup Company ...... ...............$ Weighted average shares outstanding - hasic... Landing --- basic ................................. Per Share - Assuming Dilution Net earnings attributable to Campbell Soun Company .......... ..........$ assuming dilution. ................ Ented average shares outstanding 2.89 $ 1.81 $ 2.13 307 3 11 313 See accompanying Notes to Consolidated Financial Statements. statement Case 13.33 LO 5,7 mancial reporting, manufacturing firm-Internet assignment Campbell Soup company provides access to its annual reports online at campbellsoup.com. The annual reports are found in the "All Campbell Brands/Investors/Financial Information/ Annual Reports" area of its website. Locate the following information in the annual reports provided for 2017 and 2015: 1. From the supplementary financial statement data, find the composition of the beginning and ending inventory for each of the following balance sheet accounts: Raw Material, Work in Process, and Finished Goods. 4. From the consolidated statements of income. find the amount for Cost of Sales 3. From the consolidated balance sheets, find the amount for Inventories. 4. From the management's discussion and analysis, find the overview section that explains Gross Profit Required: a. Calculate the cost of goods manufactured for 2017, 2016, and 2015. b. Calculate the total amount of combined cost incurred in 2017, 2016, and 2015 for raw material direct labor, and manufacturing overhead. Part 2 Managerial Accounting Discussion and Analysis of Financial Condition y the ratio of cost of sales to net sales for c. From the 2017 "Management's Discussion and Analys and Results of Operations, identify the ratio of cost of 2017, 2016, and 2015. Comment on the overall trend. d. Review Chapter 11 if necessary and calculate the inventory sales in inventory for 2017. 2016, and 2015. Com a calculate the inventory turnover and day's tor 2017, 2016, and 2015. Comment on the overall trend. world leader in CAMPBELL SOUP COMPANY Consolidated Balance Sheets millions, rept per share amenints) $ Other current Total current Plantas metode 119 OS 902 74 1.900 2,454 2,115 1.118 139 7,726 1,90% 2.4407 2,263 1.152 107 $ **** .. S 1 $ Other intangible set of morti Other ass STO Stor 2017 and 2017 and 534 of 2016 attributable to variable interest entity) ..... Total Current l es Short-term borrowings. Payable to suppliers and others.. Accrued abilities Dividends payable ......... Accrued income taxes.... .... .... Total current liabilities.......... ........ Long-term debt...... **** Deferred taxes.............. Other liabilities................. Total liabilities ...................... ......... o n es.................. Commitments and contingencies Campbell Soup Company shareholders' equity Preferred stock, authorized 40 shares, none issued .... . . one 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................ . .... . . Accumulated other comprehensive loss........................ .............. Total Campbell Soup Company shareholders' equity Noncontrolling interests ......................................................... . ................ oral equity .............................................. .. Total liabilities and equity ................................................. ,037 666 561 111 20 2,395 3 5 2,499 490 697 6,081 1,219 610 604 100 22 2,555 2,314 396 1.039 6,304 12 359 2,385 (1,066) (53) 1,637 354 1,927 (664) (104) 1,525 8 8 1,645 7,726 1,533 7,837 $ See accompanying Notes to Consolidated Financial Statements. CAMPRESOWIP COMPANY dated States of the Netering Comprehens Inceme Other comprehensive Income - 403 45 45 5 012) 1 (11) Foreign currency translate Foreign currency translation adjustments Cash-Now hedges: Unrealized grims (losses) arising during period ....... Reslassification justment for (gains) losses included in het CHT, Pension and other pestretirement benefits: Prior service credit arising during the period... Reclassification of prior service credit included in met camins dings... (25) (25) (16) (1) (1) (2) (1) (6) $ ome (less). $ 5 (loss). J5 (16) S (320) 5 51 938 67 630 6 (314) 5 S Other comprehensive income (eu). Total comprehensive Income (s) Total comprehensive income (less) attributable to controlling interests Total comprehensive Income (less) attributable to Campbell Soup Company (1) sce accompanying Notes to consolidated Financial Statements Appendik CAMPBELL SOUP COMPANY Consolidated Statements and millions, encept per share am ) Campbell pay Shareholders' Equity Capital Seach in Treasury A nal Heard shar Ameni 12 1 3 14 Earning # Nontrolling wed Nhar A 145 5 2014 Nelearning Cherownie come 013) (295) (244) Diusden (51 24 share Trewry stack purchased.... Treasury sed under 371 12 (5 33 ) 339 1.294 Balance August, 2015... 563 Tags Nelingslo) Other comprehensive income (390) (143) ay (43 50 Dividends (51 246 per bal They stack parchased.. Treasury stock immed under menpement incentive and e optice plans .... 15 25 (64) 354 1.927 323 15) 1 2 (429) (429) (437) Balance July 31, 2016 ... Net earning (less).. .. Other comprehensive income (less), Dividends (51.40 per share).. Treasury stock purchased... Treasury stock and under management incentive and stock option plans.. 40 5 3 99 35 (22) 5 (1.166) S 5 1,645 2,385 (53) 323 S 12 Balance st July 20, 2017... See accompanying Notes to Consolidated Financial Statements. Appendix CAMPRELL SOUP COMPANY Consolidated States of Colony 1017 2016 ART 561 5 212 31 118 318 15 (53) 1,291 (58) 1.491 11 (52) 1,206 (338) (341) (380) 15 (232) Cash flows from wperating activities Netramings Adjustments to reconcile nel camnings asperating Impairment charges Restructuring charges Stock-based compensation Pension and retirement benefit pente Depreciations and animation Deferred income taxes Other .. Changes in working capital, net of acquisition Accounts receivable... Inventories Prepaid assets... Accounts payable and recrued liabilities Pension fund contributions .. Net receipts from hedging activities Other Net cash provided by operating activities Cash flows from investing activities: Purchases of plant assets .... Sales of plant assets.... Business acquired, net of cash acquired .. Other, net... Net cash used in investing activities........... Cash Nons from financing activities: Net short-term borrowings (repayments)..... Long-term borrowings Long-term repayments Repayments of notes payable... Dividends paid Treasury stock purchases...... Treasury stock issuances... Contributions from noncontrolling interest ...... ... Payments related to tax withholding for stock-based compensation........ Othernet.... ....... ........................... .... . ... Net cash used in financing activities ........ ... .... ...... Effect of exchange rate changes on cash.............................. .. . ... Net change in cash and cash equivalents ....... . . ...... ....... .. Cash and cash equivalents-beginning of period ...... ..... .. Cash and cash equivalents-end of period .....................................S (30) (368) (18) (354) (603) 245 (762) 215 100 300 211 (90) (400) (420) (390) (143) (309) (394) (244) 9 (437) 2 (22) (21) (911) (1,099) 115 23 43 296 253 3 195 296 (18) (3) (350) (32) 21 $ 253 See accompanying Notes to Consolidated Financial Statements. "emFinancial States and Sup er CAMERELE SOUP COMPANY Consolidated Statements of EARNIR millions, erupt per share Amount) 2011 $ 7,890 $ 7,961 $ ,082 5.181 893 5.100 884 4,831 817 488 98 218 124 117 24 IN 31 102 Net sales Costs and expenses Cost of products sold.. Marketing and selling expenses Administrative expenses..... . Research and development expenses. Other expenses income).... Restructuring charges.. ....... Total costs and expenses ........ Earnings before interest and taxes. Interest expense ... Interest income.............. ....... Earnings before taxes................ . ................ Taxes on earnings............ Net earnings ............................ Less: Net earnings (loss) attributable to noncontrolling interests 6,490 7,028 1,400 7.001 960 115 1,054 108 112 949 1,293 849 286 406 283 666 887 563 887 S 563 666 $ ing interests .... . ... . ................S $ $ 2.91 305 1.82 309 2.13 312 Net earnings attributable to Campbell Soun Campany........ Per Share - Basic Net earnings attributable to Campbell Soup Company ...... ...............$ Weighted average shares outstanding - hasic... Landing --- basic ................................. Per Share - Assuming Dilution Net earnings attributable to Campbell Soun Company .......... ..........$ assuming dilution. ................ Ented average shares outstanding 2.89 $ 1.81 $ 2.13 307 3 11 313 See accompanying Notes to Consolidated Financial Statements