The financial statements for Tootsie Roll Industries are presented in Appendix A at the end of this

Question:

The financial statements for Tootsie Roll Industries are presented in Appendix A at the end of this book.

Instructions Answer these questions using the Consolidated Income Statement.

(a) What was the percentage change in sales and in net income from 2003 to 2004?

(b) What was the profit margin ratio in each of the 3 years? Comment on the trend.

(c) What was Tootsie Roll’s gross profit rate in each of the 3 years? Comment on the trend.

COMPARATIVE ANALYSIS PROBLEM: Tootsie Roll vs. Hershey Foods

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