Question: Selected data for The Hershey Company for
Selected data for The Hershey Company for Year 1 through Year 3 appear in Exhibit 4.29. Exhibit 4.29: 
REQUIRED: a. Compute ROA and its decomposition for Year 2 and Year 3. Assume a tax rate of 35%. b. Compute ROCE and its decomposition for Year 2 and Year 3. c. Interpret the trends in reported net income, EPS, ROA, and ROCE over the three-year period.
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Exhibit 4.29 Selected Data for The Hershey Company (amounts in millions except per-share data) (Problem 4.23) Year 3 Year 2 Year 1 Sales $6,644,252 $6,080,788 $5,671,009 Interest expense 95,569 92,183 96,434 435,994 Net income 628,962 509,799 Diluted EPS 2.89 2.74 2.21 Minority interest in net income 12,950 5,817 8,183 Total assets 4,754,839 4,407,094 4,272,732 Total shareholders' equity Noncontrolling interests in subsidiaries 1,048,373 880,943 937,601 35,285 11,624 23,626
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> Exhibit 3.32 presents a statement of cash flows for Walmart for fiscal 2015, 2014, and 2013. This statement matches the Walmart statement of cash flows in Appendix A, and is an expanded version of the statement of cash flows for Walmart shown in Exhibit
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> Exhibits 1.19–1.21 of Integrative Case 1.1 (Chapter 1) present the financial statements for Walmart for 2012–2015. In addition, the website for this text contains Walmart’s December 31, 2015, Form 10-
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> Refer to the financial statement data for Abercrombie & Fitch in Problem 4.25 in Chapter 4. Exhibit 5.15 presents risk ratios for Abercrombie & Fitch for fiscal Year 3 and Year 4. Financial statement in 4.25: Exhibit 5.15: REQUIRED: a. Comp
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> Since the early 1990s, woodstove sales have declined from 1,200,000 units per year to approximately 100,000 units per year. The decline has occurred because of (1) stringent new federal EPA regulations, which set maximum limits on stove emissions beginn
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> Explain the theory behind the residual income valuation approach. Why is residual income value relevant to common equity shareholders?
> Explain residual income. How is it measured? What does residual income represent?
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> Assume that Circuit City owes Synovus Bank $1,000,000 on a four-year, 7% note originally issued at par. After one year of making scheduled payments, Circuit City faces financial difficulty. At the end of the second year, Circuit City owes Synovus $1,000,
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