Refer to the 2020 Annual Report of Tootsie Roll Industries, Inc. to answer the questions in this part. Consider only the information provided in the Statements of Earnings, Financial Position (Balance Sheet), and Cash Flows. Amounts are presented in $ thousands. Answer the following questions.

3. Assume the Company measures bad debt expenses as 3% of beginning gross accounts receivables trade. Calculate the amount of bad debts written off during fiscal 2020.

Iin thansaride avharn nar chara Aatal CONSOLIDATED STATEMENTS OF Financial Position TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands) Assets Liabilities and Shareholders' Equity CURRENT LIABILITIES: CONSOLIDATED \$TATEMENTS OF Cash Flows TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands)