Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Broadening Your Perspective 5-1 The financial statements of Tootsie Roll are presented below. TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Earnings, Comprehensive Earnings
Broadening Your Perspective 5-1 The financial statements of Tootsie Roll are presented below. TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF Earnings, Comprehensive Earnings and Retained Earnings (in thousands except per share data) For the year ended December 31, 2010 $528,369 $517,149 $495,592 2011 2009 Net product sales Rental and royalty revenue Total revenue Product cost of goods sold Rental and royalty cost Total costs Product gross margin Rental and royalty gross margin Total gross margin Selling, marketing and administrative expenses Impairment charges Earnings from operations Other income (expense), net Earnings before income taxes Provision for income taxes Net earnings 3.739 499,331 349,334319,775 32 4,299 4,136 532,505 365,225 1,038 521,448 366,263 504 1,088 66263350,422 167,815 163,144 3,098 175,817 2,887 3,211 108,2760 0178,704 108,276 106,316 103,755 566 6425 14,000 60,949 57,966 2,134 8,358 63,049 i,i 16,974 20,005 $43,938$53,063 $53,157 9,892 453,157 Net earnings Other comprehensive earnings (loss) Comprehensive earnings $43,938 $53,063 $53,157 1,183 2,845
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started