Case: Campbell Soup Co. Short-Term Analysis Exhibit CC. 6 CAMPBELL SOUP COMPANY Common-Size Income statements Year 11 Year 10 Year 9 Year 8 Year 7 Year 6 Net sales 10000%100.00%100.00%10000%100.00%100.00% Costs and expens Cost of products sold 6601%6862%70.55%6968%70.83%7191% Marketing and selling expenses 1541 1580 1444 15.061395 12.70 Administrative expenses 4.94 4.68 4.44 4.78 4.76 4.57 Research and development expenses 0.91 0.87 0.84 0.96 1.00 0.98 Interest expense 1.11 1.15 Interest income (042) (0.28) 0.68) (0.68)(066) (0.64) Foreign exchange losses, net 0.34 Other expense(income 042 0.24 (0.07)(0.21) 0.13 Divestitures, restructuring unusual charges 605 83 Total costs and expenses 8917%9723%98.21%9202%90.93%90.98% Earnings before equity in earnings of affiliates and minority interest 10.83% 79% 7.98%907% 9.02% Equity in earnings of affiliates 0.04 0.22 0.18 0.13 0.34 0.10 Minority interests 12) (0 (0 Earnings before taxes 10.76% 2.89% 1.88% 798%931% 9.03% Taxes on earnings 4.29 1.65 3.02 3.83 Earnings before cumulative effect of accounting change 647% 0.07% 0.23% 4.96%551% 521% Cumulative effect of change accounting for income taxes Net earnings 647 0.07% 0.23% 3%551% 521%Case: Campbell Soup Co. Short-Term Analysis Exhibit CC.6 CAMPBELL SOUP COMPANY Common-Size Income Statements Year 11 Year 10 Year 9 Year 8 Year 7 Year 6 Net sales 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% Costs and expenses: Cost of products sold 66.01% 68.62% 70.55% 69.68% 70.83% 71.91% Marketing and selling expenses 15.41 15.80 14.44 15.06 13.95 12.70 Administrative expenses 4.94 4.68 4.44 4.78 4.76 4.57 Research and development expenses 0.91 0.87 0.84 0.96 1.00 0.98 Interest expense 1.87 1.80 1.66 1.11 1.15 1.31 Interest income (0.42) (0.28) (0.68) (0.68) (0.66) (0.64) Foreign exchange losses, net 0.01 0.05 0.34 0.34 0.11 0.02 Other expense (income) 0.42 0.24 0.57 (0.07) (0.21) 0.13 Divestitures, restructuring & unusual charges — 5.46 6.05 0.83 — — Total costs and expenses 89.17% 97.23% 98.21% 92.02% 90.93% 90.98% Earnings before equity in earnings of affiliates and minority interests 10.83% 2.77% 1.79% 7.98% 9.07% 9.02% Equity in earnings of affiliates 0.04 0.22 0.18 0.13 0.34 0.10 Minority interests (0.12) (0.09) (0.09) (0.13) (0.10) (0.09) Earnings before taxes 10.76% 2.89% 1.88% 7.98% 9.31% 9.03% Taxes on earnings 4.29 2.82 1.65 3.02 3.80 3.83 Earnings before cumulative effect of accounting change 6.47% 0.07% 0.23% 4.96% 5.51% 5.21% Cumulative effect of change in accounting for income taxes — — — 0.67 — — Net earnings 6.47% 0.07% 0.23% 5.63% 5.51% 5.21%