The Hershey Company is a global confectionery leader known for its branded portfolio of chocolate, sweets, mints, and other great-tasting snacks. The Company has more than 80 brands worldwide including such iconic brand names as Hershey’s, Reese’s, Kisses, Jolly Rancher, and Ice Breakers, which are sold in approximately 85 countries worldwide. Presented here are the items listed on a simplified version of its recent balance sheet (dollars in thousands) in alphabetical order:

Required:
1. Prepare a classified consolidated balance sheet for The Hershey Company 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 each case.

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Accounts payable Accounts receivable, net Accrued short-term liabilities Additional paid-in capital Cash and cash equivalents Common stock (221,553,025 shares outstanding) Goodwill Inventories Long-term debt $ 550,828 568,509 702,372 1,142,210 493,262 221,553 1,985,955 815,251 3,530,813 Other assets (noncurrent) Other intangibles, net Other long-term liabilities Other payables Prepaid expenses and other current assets Property, plant, and equipment, net Retained earnings Short-term debt $ 543,033 1,341,166 855,795 19,921 240,080 2,153,139 381,231 735,672