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6. Compute the percentage change in current assets from 2021 to 2022.

7. The change in current assets from 2021 to 2022 (computed in Question 6) is being

driven by the change in what individual current asset? (Hint: this question is asking you

to use horizontal analysis to determine which current asset had the largest percentage

change from 2021 to 2022).

8. Compute the dollar change (in thousands) in current liabilities from 2021 to 2022.

9. Compute the percentage change in net sales from 2021 to 2022.

\begin{tabular}{|c|c|c|c|} \hline December 31, & 2022 & 2021 & 2020 \\ \hline & 10,419,294 & 8,971,337 & 8,149,719 \\ \hline Net sales & $ & $ & $ \\ \hline Cost of sales & 5.920.509 & 4,922,739 & 4,448,450 \\ \hline Gross profit & 4,498,785 & 4,048,598 & 3,701,269 \\ \hline \begin{tabular}{l} Selling, marketing and \\ administrative expense \end{tabular} & 2,236,009 & 2,001,351 & 1,890,925 \\ \hline \begin{tabular}{l} Long-lived asset impairment \\ charges \end{tabular} & & & 9,143 \\ \hline Business realignment costs & 1,989 & 3,525 & 18,503 \\ \hline Operating profit & 2,260,787 & 2,043,722 & 1,782.698 \\ \hline Interest expense, net & 137,557 & 127,417 & 149,374 \\ \hline Other (income) expense, net & 206,159 & 119,081 & 138,327 \\ \hline Income before income taxes & 1,917,071 & 1,797,224 & 1,494,997 \\ \hline Provision for income taxes & 272,254 & 314,405 & 219,584 \\ \hline \begin{tabular}{l} Net income including \\ noncontrolling interest \end{tabular} & 1,644,817 & 1,482,819 & 1,275,413 \\ \hline \begin{tabular}{l} Less: Net gain (loss) \\ attributable to noncontrolling \\ interest \end{tabular} & & 5,307 & (3,295) \\ \hline \begin{tabular}{l} Net income attributable to The \\ Hershey Company \end{tabular} & & $1,477,512 & $1,278,708 \\ \hline Net income per share-basic: & & & \\ \hline Common stock & 8.22 & 7.34 & 6.30 \\ \hline Class B common stock & 7.47 & 6.68 & 5.72 \\ \hline \begin{tabular}{l} Net income per share- \\ diluted: \end{tabular} & & & \\ \hline Common stock & 7.96 & 7.11 & 6.11 \\ \hline Class B common stock & 7.45 & 6.66 & 5.71 \\ \hline Dividends paid per share: & & & \\ \hline Common stock & 3.874 & 3.410 & 3.154 \\ \hline Class B common stock & 3.522 & 3.100 & 2.866 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline December 31, & 2022 & 2021 \\ \hline ASSETS & & \\ \hline Current assets: & & \\ \hline Cash and cash equivalents & $463,889 & S 329,266 \\ \hline Accounts receivable - trade, net & 711,203 & 671,464 \\ \hline Inventories & 1,173,119 & 988,511 \\ \hline Prepaid expenses and other & 272,195 & 256,965 \\ \hline Total current assets & 2,620,406 & 2,246,206 \\ \hline Property, plant and equipment, net & 2,769,702 & 2,586,187 \\ \hline Goodwill & 2,606,956 & 2,633,174 \\ \hline Other intangibles & 1,966,269 & 2,037,588 \\ \hline Other non-current assets & 944,989 & 868,203 \\ \hline Deferred income taxes & 40,498 & 40,873 \\ \hline & 10,948,820 & 10,412,231 \\ \hline Total assets & =$ & =s \\ \hline \begin{tabular}{l} LIABILITIES AND STOCKHOLDERS' \\ EQUITY \end{tabular} & & \\ \hline Current liabilities: & & \\ \hline Accounts payable & $970,558 & $692,338 \\ \hline Accrued liabilities & 832,518 & 855,638 \\ \hline Accrued income taxes & 6,710 & 3,070 \\ \hline Short-term debt & 693,790 & 939,423 \\ \hline Current portion of long-term debt & 753,578 & 2,844 \\ \hline Total current liabilities & 3,257,154 & 2,493,313 \\ \hline Long-term debt & 3,343,977 & 4,086,627 \\ \hline Other long-term liabilities & 719,742 & 787,058 \\ \hline Deferred income taxes & 328,403 & 288,004 \\ \hline Total liabilities & 7,649,276 & 7,655,002 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Stockholders' equity: & & \\ \hline \begin{tabular}{l} The Hershey Company stockholders' \\ equity \end{tabular} & & \\ \hline \begin{tabular}{l} Preferred stock, shares issued: none in \\ 2022 and 2021 \end{tabular} & E & \\ \hline \begin{tabular}{l} Common stock, shares issued: \\ 163,439,248 in 2022 and 160,939,248 \\ 2021 \end{tabular} & 163,439 & 160,939 \\ \hline \begin{tabular}{l} Class B common stock, shares issued: \\ 58,113,777 in 2022 and 60,613,777 in \end{tabular} & & \\ \hline 2021 & 58,114 & 60,614 \\ \hline Additional paid-in capital & 1,296,572 & 1,260,331 \\ \hline Retained earnings & 3,589,781 & 2,719,936 \\ \hline & & \\ \hline 2021 & (1,556,029) & (1,195,376) \\ \hline Accumulated other comprehensive loss & (252,333) & (249,215) \\ \hline Total stockholders' equity & 3,299,544 & 2,757,229 \\ \hline & 10,948,820 & 10,412,231 \\ \hline Total liabilities and stockholders' equity & & $ \\ \hline \end{tabular}

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