A recent annual report of Tootsie Roll Industries contains the following information. Instructions Compute the following ratios
Question:
A recent annual report of Tootsie Roll Industries contains the following information.
Instructions
Compute the following ratios for Tootsie Roll for the current year.
a. Asset turnover.
b. Return on assets.
c. Profit margin on sales.
d. How can the asset turnover be used to compute the return on assets?
Transcribed Image Text:
(in millions) Total assets Total liabilities Net sales Net income Current Year $930.9 197.1 515.6 80.7 Prior Year $920.1 208.6 517.4 67.3
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a Asset turnover b Return on assets c Profit margin on sales ...View the full answer
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Related Book For
Intermediate Accounting
ISBN: 9781119790976
18th Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
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