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| EXHIBIT 5 |
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COMMON-SIZE INCOME STATEMENT |
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| ON OLALLIEBERRY PIE COMPANY (OPC) |
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| HISTORICAL FOR THE FISCAL YEARS 1993-1997 |
| ($ in millions) |
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| Common-Size Percentages |
| Fiscal Years Ended |
1993 |
1994 |
1995 |
1996 |
1997 |
1993 |
1994 |
1995 |
1996 |
1997 |
| Net Sales |
$ 9,238 |
$ 12,476 |
$ 15,470 |
$ 19,535 |
$ 24,156 |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
| Cost of Merchandise Sold |
6,685 |
8,991 |
11,448 |
14,651 |
18,600 |
72.36% |
72.07% |
74.00% |
75.00% |
77.00% |
| Gross Profit |
2,553 |
3,485 |
4,022 |
4,884 |
5,556 |
27.64% |
27.93% |
26.00% |
25.00% |
23.00% |
| Operating Expenses |
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| Selling and Store Operating |
1,624 |
2,216 |
2,783 |
3,521 |
4,287 |
17.58% |
17.76% |
17.99% |
18.02% |
17.75% |
| Pre-Opening |
36 |
51 |
52 |
55 |
65 |
0.39% |
0.41% |
0.34% |
0.28% |
0.27% |
| General and Administrative |
184 |
230 |
269 |
324 |
413 |
1.99% |
1.84% |
1.74% |
1.66% |
1.71% |
| Non-Recurring Charge |
na |
na |
na |
na |
104 |
na |
na |
na |
na |
0.43% |
| Total Operating Expenses |
1,846 |
2,498 |
3,105 |
3,900 |
4,869 |
19.98% |
20.02% |
20.07% |
19.96% |
20.16% |
| Operating Income |
706 |
987 |
917 |
984 |
687 |
7.64% |
7.91% |
5.93% |
5.04% |
2.84% |
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| Interest Income (Expense) |
| Interest and Investment Income |
60 |
28 |
19 |
25 |
44 |
0.65% |
0.22% |
0.12% |
0.13% |
0.18% |
| Interest Expense |
(30) |
(35) |
(4) |
(16) |
(42) |
-0.32% |
-0.28% |
-0.03% |
-0.08% |
-0.17% |
| Interest, Net |
30 |
(7) |
15 |
9 |
2 |
0.32% |
-0.06% |
0.10% |
0.05% |
0.01% |
| Minority Interest |
na |
na |
na |
(8) |
(16) |
na |
na |
na |
-0.04% |
-0.07% |
| Earnings Before Income Taxes |
$ 736 |
$ 979 |
$ 947 |
$ 994 |
$ 675 |
7.97% |
7.85% |
6.12% |
5.09% |
2.79% |
| Income Taxes |
279 |
375 |
463 |
597 |
603 |
3.02% |
3.01% |
2.99% |
3.06% |
2.50% |
| Net Earnings |
$ 457 |
$ 604 |
$ 484 |
$ 397 |
$ 72 |
4.95% |
4.84% |
3.13% |
2.03% |
0.30% |
| Instructor's Note: numbers are for illustration only. They do not match other exhibits. Your numbers in your exhibit DO NEED to match your case statistics and your analysis. |
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