This problem is based on the 2017 annual report of Campbell Soup Company. Answer the following questions. Refer to the Selected Financial Data for parts (a) to (d). Required: Find

This problem is based on the 2017 annual report of Campbell Soup Company. Answer the following questions. Refer to the Selected Financial Data for parts (a) to (d). Required: Find the net sales in 2014. (Enter your answer in millions.) Calculate the operating income (earnings before interest and taxes) in 2013. (Enter your answer in millions.) Calculate the difference between operating income (earnings before interest and taxes) and net income (net earnings) in 2015. (Enter your answer in millions.) Find the year(s) in which net income (net earnings) decreased compared to the previous year. attatched are the charts needed for the following questions, I have tried to figure these out but I come up with incorrect answers.  You Transcribed Image Text: Item 6. Selected Financial Data
20170
2013
Foral Year
(Millions, except per share amounts)
Summary of Operations
2016
201S
20149
$7,890 $7,961 $8,082 $8.268 $8,052
1,054
Net sales
Eamings before interest and taxes
Eamings before taxes…
1,400
960
1,267
1,474
1,293
849
949
1,148
1,349
Earmings from continuing operations
887
563
666
774
934
Eamings (loss) from discontinuedQerations
81
(231)
Net carnings.. .
Net earnings attrnbutable to Campbell Soup Company
887
563
666
855
703
887
563
666
866
712
Financial Position
Plant assets – net
$2,454 $2,407 $2,347 $2,318 $2,260
Total assets
7,726
7,837
8,077
8,100
8,290
Total debt
3,536
3,533
4,082
4,003
4,438
Total equity.
1,645
1,533
1,377
1,602. 1,192
Per Share Data
Eamings from continuing operations attnibutable to Campbell Soup
Company – basic.
Eamings from continuing operations attributable to Campbell Soup
Company – assuming dilution.
Net earnings attrbutable to Campbell Soup Company – basic
c… .
S 2.91 S 1.82 $ 2.13 $ 2.50 $ 3.00
2.89
1.81
2.13
2.48
2.97
2.91
1.82
2.13
2.76
2.27
decarnings attributable to Campbell Soup Company – assuming
2.89
1.81
2.13
2.74
2.25
Dividends declared
1.40
1248
1 248
1.248
1.16
Other Statistics
Capital expenditures.
Weighted average shares outstanding – basic,
Weighted average shares outstanding – assuming dilution
S 338 $ 341 $ 380 S 347 $ 336
305
309
312
314
314
307
311
313
316
317
(All per share amounts below are on a diluted basis)
In Ma 0014t Transcribed Image Text: In Apnl 2015, the FASB Issued guidance that requires debt issuance costs to be presented in the balance sheet as a reduction from
the carnying value of the associated debt liability, cosistent with the presentation of a debt discount We adopted the guidance in
2016 and retrospectively adjusted all prior periods.
In November 2015, the FASB issued guidance that requires deferred tax liabilities and assets to be classified as noncurrent in the
balance sheet We adopted the guidance in 2016 on a prospective basis and modified the presentation of deferred taxes in the
Consolidated Balance Sheet as of July 31, 2016.
The 2014 fiscal year consisted of 53 weeks All other periods had 52 weeks
O The 2017 earmings from continuing operations attributable to Campbell Soup Company were impacted by the following a
restructuring charge, related costs and administrative expenses of $37 million ($. 12 per share) associated with restructuring
and cost savings initiatives; gains of S$116 million ($ 38 per share) associated with mark-to-market adjustments for defined
benefit pension and postretirement plans; impairment charges of $180 million ($.59 per share) related to the intangable assets
of the Bolthouse Farms carrot and carrot ingredients reporting unit and the Garden Fresh Gourmet reporting unit; and a tax
benefit and reduction to interest expense of $56 million ($.18 per share) primanily associated with the sale of intercompany
notes receivable to a financial institution.
* The 2016 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following a
restructuring charge and administrative expenses of $49 million ($.16 per share) associated with restructuring and cost savings
initiatives, losses of $200 million ($.64 per share) associated with mark-to-market adjustments for defined benefit pension
and postretirement plans; a gain of $25 million ($.08 per share) associated with a settlement of a claim related to the Kelsen
acquisition, and an impairment charge of$127 million (S.41 per share) related to the intangible assets of the Bolthouse Farms
carrot and carrot ingredients reporting unit.
The 2015 earnings from continuing operations attributable to Campbell Soup Company were impacted by the following a
restructuring charge and administrative expenses of $78 million (S.25 per share) associated with restructuring and cost savings
initiatives and losses of $87 million ($.28 per share) associated with mark-to-market adjustments for defined benefit pension
and postretirement plans.
* The 2014 eamings from continuing operations attributable to Canpbell Soup Company were impacted by the following a
restructuring charge and related costs of $36 million (S.11 per share) associated with restructuring initiatives; losses of $19
million (S.06 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans; a
loss of $6 million ($.02 per share) on foreign exchange forward contracts used to hedge the proceeds from the sale of the
European simple meals business, $7 million ($.02 per share) tax expense associated with the sale of the European simple
meals business, and the estimated impact of the additional week of $25 million (S.08 per share). Eamings from discontinued
operations included a gain of $72 million ($23 per share) on the sale of the European simple meals business.
O The 2013 eamings from continuing operations attributable to Campbell Soup Conpany were impacted by the following a
restructuring charge and related costs of $87 millhon (S.27 per share) associated with restructuring initiatives; gains of $183
million (S 58 per share) associated with mark-to-market adjustments for defined benefit pension and postretirement plans.
and $7 million (S.02 per share) of transaction costs related to the acquisition of Bolthouse Farms. Eamings from discontunued
operations were impacted by an impairment charge on the intangible assets of the simple meals business in Europe of $263
mullion ($ 83 per share) and tax expense of $18 million ($ 06 per share) representing taxes on the difference between the book

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