Snyder’s-Lance manufactures, markets, and distributes a variety of snack food products including pretzels, sandwich crackers, kettle chips, cookies, potato chips, tortilla chips, other salty snacks, sugar wafers, nuts, and restaurant style crackers. These items are sold under trade names including Snyder’s of Hanover, Lance, Cape Cod, Krunchers!, Jays, Tom’s, Archway, and others. Presented here are the items listed on its recent balance sheet (dollars in millions) in alphabetical order:

1. Prepare a classified consolidated balance sheet for Snyder’s-Lance for the current year (ended December 31) using the categories presented in the chapter.
2. Three of the items end in the term net. Explain what this term means in eachcase.

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