Question: The Hershey Company is one of the world s leading producers

The Hershey Company is one of the world’s leading producers of chocolates, candies, and confections. It sells chocolates and candies, mints and gums, baking ingredients, toppings, and beverages. Hershey’s consolidated balance sheets for 2012 and 2013 follow.
Refer to the information for Hershey on the preceding page. Additional information for 2013 is as follows (amounts in millions):
Total credit sales (all on credit)...... $7,146.1
Costs of goods sold .......... 3,865.2
Net income ............... 820.5
Compute the following ratios for 2013. Provide a brief description of what each ratio reveals about Hershey.
1. Return on common equity
2. Debt-to-assets
3. Debt-to-equity
4. Current
5. Quick (Hershey uses cash and equivalents, short-term securities, and receivables in their quick ratio calculation.)
6. Inventory turnover days
7. Accounts receivable turnover days
8. Accounts payable turnover days
9. Operating cycle (in days)
10. Total asset turnover

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