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Using the approach described in the Soffer & Soffer text, as well as in the class handouts, what is your estimate of the historical Free
Using the approach described in the Soffer & Soffer text, as well as in the class handouts, what is your estimate of the historical Free Cash Flow for Tootsie Roll for each of the three-years ending December 31, 2018, 2019 & 2020? (These amounts would be the platform on which future free cash flow projections are made.) You should assume that purchases, sales, and maturities of both trading securities and available-for-sale securities are NOT part of Tootsie Roll's Core Operations. Unless you argue otherwise, you may assume that the adjustments related to the above are the only "adjustments that need to be made. Please note that I am NOT asking you to make any projections about the future nor am I asking you to estimate the value of Tootsie Roll using this model. Using the approach described in the Soffer & Soffer text, as well as in the class handouts, what is your estimate of the historical Free Cash Flow for Tootsie Roll for each of the three-years ending December 31, 2018, 2019 & 2020? (These amounts would be the platform on which future free cash flow projections are made.) You should assume that purchases, sales, and maturities of both trading securities and available-for-sale securities are NOT part of Tootsie Roll's Core Operations. Unless you argue otherwise, you may assume that the adjustments related to the above are the only "adjustments that need to be made. Please note that I am NOT asking you to make any projections about the future nor am I asking you to estimate the value of Tootsie Roll using this model
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