The 2011 Annual Report of Tootsie Roll Industries contains the following Information. Instructions Compute the following ratios

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The 2011 Annual Report of Tootsie Roll Industries contains the following Information.


The 2011 Annual Report of Tootsie Roll Industries contains the


Instructions
Compute the following ratios for Tootsie Roll for 2011.
(a) Asset turnover.
(b)
Return on assets.
(c) Profit margin on sales.
(d) How can the asset turnover be used to compute the return onassets?

Asset Turnover
Asset turnover is sales divided by total assets. Important for comparison over time and to other companies of the same industry. This is a standard business ratio.
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Intermediate Accounting

ISBN: 978-1118147290

15th edition

Authors: Donald E. Kieso, Jerry J. Weygandt, and Terry D. Warfield

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