Use the statements of earnings for Campbell Soup Company to perform a horizontal analysis for each item reported for the year from July 29, 2007, to August 3, 2008. What does your analysis tell you about the operations of Campbell Soup Company for theyear?

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Campbell Soup Company Consolidated Statements of Earnings imillions, except per share amounts 2009 53 Weeks 007 52 Weeks 2006 52 Weeks $7.998 $7 6,894 Costs and expenses Marketing and selling expenses Administrative expenses Research and development expenses 1,162 608 115 4,384 1,106 571 4,100 1,033 552 103 (30) Total costs and expenses Earnings Before Interest and Taxes.... ......._....... ........1,098 Earnings before taxes Earnings from continuing operations.. 1,243 163 1,097 165 167 1,099 671 Earnings from discontinued operations 31.16 85466 1.77 $3.12 $2.21 1.88 Per Share- Basie Eamings from continuing operations Eanings from discontinued operations ....$ 1.80 1.32 16 Per Share-Assuming Dilution *2.00 16 $3.06-2.16 1.76 1.74 Net Earnings .. Welghted average shares outstanding-assuming dilution $1.85 414