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?

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Related Book For answer-question

Intermediate Accounting

ISBN: 9781119790976

18th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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Question Posted: Jul 03, 2023 07:09 AM

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A recent annual report of Tootsie Roll Industries contains the following information. Instructions Compute the following ratios

Question:

(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

Step by Step Answer:

a Asset turnover b Return on assets c Profit margin on sales ...View the full answer

Intermediate Accounting

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