Using the financial statements for Tootsie Roll Industries that are posted to Blackboard, please answer the following questions. a. What was the profit margin for each of the last three years? Comment on any trend. b. What was the gross profit ratio in each of the last three years? Comment on any trend. ***Use total revenue as a base in each of these calculations (as net sales). For any calculation that requires gross profit, please use total gross margin. For any calculation that requires net income, please use net earnings attributable to Tootsie Roll Industries, Inc"

CONSOLIDATED STATEMENTS OF Earnings and Retained Earnings TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES (in thousands except per share data)