The 2017 annual report of Tootsie Roll Industries contains the following information. Instructions Compute the following ratios

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The 2017 annual report of Tootsie Roll Industries contains the following information.

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Instructions

Compute the following ratios for Tootsie Roll for 2017.

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?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Related Book For  book-img-for-question

Intermediate Accounting

ISBN: 978-1119503668

17th edition

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

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