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

Question:

Instructions Answer these questions using the Consolidated Income Statement.

(a) What was the percentage change in total revenue and in net income from 2008 to 2009?

(b) What was the profit margin ratio in each of the 3 years? (Use “Total Revenue.”) Comment on the trend.

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

COMPARATIVE ANALYSIS PROBLEM: Tootsie Roll vs. Hershey

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