Question: The balance sheets adapted for Tootsie Roll Industries Inc are

The balance sheets (adapted) for Tootsie Roll Industries, Inc., are shown here.


Requirements
1. What were the total current assets at December 31, 2007? December 31, 2008?
2. How are the assets ordered on the balance sheet?
3. What were the total current liabilities at December 31, 2007? December 31, 2008?
4. Calculate the current ratio at December 31, 2007, and December 31, 2008. What information do these numbersprovide?
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  • CreatedSeptember 01, 2014
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