The 2017 annual report of Tootsie Roll Industries contains the following information. Instructions Compute the following ratios
Question:
The 2017 annual report of Tootsie Roll Industries contains the following information.
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 TurnoverAsset 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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Step by Step Answer:
a Asset turnover b Return on assets c Profit margin on sales 8...View the full answer
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Related Book For 
Intermediate Accounting
ISBN: 978-1119503668
17th edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfiel
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