H. J. Heinz Company is a global company engaged in several lines of business, including food service, infant foods, condiments, pet foods, and weight-control food products. Below is a five-year summary of operations and other related data for Heinz. (Amounts are expressed in thousands.)

Prepare a trend analysis for Heinz with 2002 as the base year and discuss the results. Identify important trends and state whether the trends are favorable or unfavorable. Discuss significant relationships among the trends.

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H. J. Helnz Company and Subsidlaries Five-Year Summary of Operations and Other Related Data 2006 2005 2004 2003 2002 Summary of operations Sales Cost of products sold Interest expense Provision for income taxes Net income (before special $8,643,438 $8,103,456 $7,625,831 7,566,800 $7,040,934 5,550,364 5,069,926 4,733,314 4,825,462 4,441,194 230,027 363,465 593,042 316,296 250,700 442,761 232,088 299,511 688,004 211,382 352,117 715,451 222,729 283,541 478,303 items) Other related data Dividends paid: common Total assets Total debt Shareholders' equity 562,547 9,737,767 10,577,718 9,877,189 9,224,751 10,278,354 4,411,982 4,695,253 4,974,430 4,930,929 5,345,613 2,048,823 2,602,573 1,894,189 1,199,157 1,718,616 408, 137 398,854 379,910 521,592