Financial statements of Hershey Foods Corporation are presented in Appendix B, and Tootsie Rolls simplified financial statements are presented in Illustrations 1 11 through 1 14 Instructions (a) Based on the information in these financial statements, determine the following for each company (1) Tot...

a amounts in thousands Tootsie Roll Industries Inc ...

Financial statements of Hershey Foods Corporation are presented in Appendix B, and Tootsie Rolls simplified financial statements

Question:

of Hershey Foods are presented in Appendix B, and Tootsie Roll’s simplified are presented in Illustrations 1-11 through 1-14.

Instructions
(a) Based on the information in these determine the following for each company.
(1) Total assets at December 31, 2007.
(2) Net property, plant, and equipment at December 31, 2007.
(3) Sales revenue for 2007.
(4) Net income for 2007.
(b) What conclusions concerning the two companies can you draw from these data?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...