THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF INCOME (in thousands, except per share amounts) For the years ended December 31, 2019 2018 2017 Net sales Cost of sales 7,986,252 $ 7,791,069 $ 7.515,426 4,363,774 4,215,744 4,060,050 Gross profit 3,622,478 3,575,325 3,455,376 Selling, marketing and administrative expense 1,905,929 1,874,829 1,885,492 Long-lived and intangible asset impairment charges 112,485 57,729 208,712 Business realignment costs 8,112 19,103 47,763 Operating profit 1,595,952 1,623,664 1,313,409 Net income including noncontrolling interest Net income attributable to The Hershey Company Interest expense, net Other (income) expense, net Income before income taxes Provision for income taxes Less: Net loss attributable to noncontrolling interest 144,125 138,837 98,282 71,043 74,766 104,459 1,380,784 1,410,061 1,110,668 234,032 239,010 354,131 1,146,752 1,171,051 756,537 (2,940) (6.511) (26,444) 1.149,692 $ 1.177,562 $ 782,981 Net income per share-basic: Common stock Class B common stock Net income per share diluted: Common stock Class B common stock Dividends paid per share: Common stock 5.64 $ 5.76 S 3.79 5.12 $ 5.24 $ 3.44 5.46 $ 5.58 $ 3.66 5.10 $ 5.22 $ 3.44 2.990 $ 2756 S 2.548 Class B common stock S 2.716 $ 2.504 $ 2.316 See Notes to Consolidated Financial Statements. For the years ended December 31, Operating Activities THE HERSHEY COMPANY CONSOLIDATED STATEMENTS OF CASH FLOWS Net income including noncontrolling interest (in thousands) Adjustments to reconcile net income to net cash provided by operating activities 2019 2018 2017 $ 1,146,752 $ 1,171,051 $ 756.537 Depreciation and amortization 291,544 295,144 261.853 Stock-based compensation expense 51,899 49.286 51,061 Deferred income taxes (15,072) 36,255 18.582 Impairment of long-lived and intangible assets (see Note 6) 112,485 57.729 208.712 Write-down of equity investments 50,457 50.329 66,209 Other 57.426 37,278 77.291 Changes in assets and liabilities, net of business acquisitions and divestitures Accounts receivable-trade.net 40.252 8.585 (6,881) Inventories (21,194) (12,746 (71,404) Prepaid expenses and other current assets 13,593 (39,899) 18.214 Accounts payable and accrued liabilities 41,101 (100,252) (52,960) Accrued income taxes (9.544) 75.568 (71,027) Contributions to pension and other benefit plans (20,134) (25,864) (56,433) Other assets and liabilities 24,308 (2.471) 49,761 Net cash provided by operating activities 1,761.873 1,599,993 1,249,515 Investing Activities Capital additions (including software) (318,192) (328,601) (257,675) Proceeds from sales of property, plant and equipment and other long-lived asids 28.131 49.759 7,609 Proceeds from sales of businesses, net of cash and cash equivalents divested 167,048 Equity investments in tax credit qualifying partnerships (0.230) (52.641) 08.590 Business acquisitions, net of cash and cash equivalents acquired (402160) (1.338.459) Other investing activities Net cash used in investing activities Financing Activities OL029) (780480) (1.502.894) 828661) Net (decrease) increase in short-term debt (1.16205) 645.905 (81.426) Long-tam borrowings 90,61 1.199.845 954 Repayment of long term debt and finance leases (6351) (910,344) Repaymes of te receivable obligation (72.000) Cash dividends paid (610,312) (562.521) (3273) Repurchase of common stock Exercise of stock options 6527211) (247500 000,312) 240,806 63,323 Net cash used in provided by financing activi (1.081,455) 116.30 63,288 43,76) Effect of exchange rate changes on cel and cash equivalents 6.129 (Decease) increase in cash a Cash and cash equivalents, begin of period period (94,736) 587.998 207319 1212 380179 2965 Cash and cush equivalan Supplemental Diado Interest paid Income taxes paid $ 139.504 5 23.067 133,406 118,042 LOLN 331,832 See Notes to Consolidated Financial Statements. Question 12 1 pts Using The Hershey Company financial statement above, determine the amount that best represents the gross margin percentage of the company for 2019. Enter your answer as a percentage without decimals. For example, 0.789 79% and you would enter 79 below. = Question 13 1 pts Using The Hershey Company financial statements above, determine the dollar amount and direction of the change in Accounts Receviable between December 31, 2018 and December 31, 2019. Trade Accounts Receivable, net [Select] [Select] 8,585 31,667 40,252 48,837 by thousand during 2019. The Hershey Company reports two numbers related to income tax for 2019: On the income statement they report a provision for income taxes of $234,032 thousand and at the bottom of the statements of cash flows, they report income taxes paid of $238,067 thousand. Briefly explain what these numbers represent and why they are different. Edit View Insert Format Tools Table 12pt v Paragraph