To access Tootsie Roll Industries Inc.s annual report and other financial information you can use the database Mergent from our library resources. Click on the following link and scroll to the bottom. Use the library database Mergent.http://guides.rasmussen.edu/business.
Focus on the Balance Sheet, which Tootsie Roll Industries Inc. titles Consolidated Statements of Financial Position, and the notes following the financial statements. Answer the following questions in a clear and concise, professional business report. Consider using a table to present some of the information. Use APA format.
- What are the balances of net property, plant, and equipment at the companys year-end for the three most recent years you are researching?
- Referring to the notes to the financial statements, what depreciation methods did the company use?
- What method does Tootsie Roll use to value its inventory?
- What is the amount of the receivables Tootsie Roll expects to collect (this is termed the net realizable value)?
- Calculate the fixed asset turnover, the accounts receivable turnover, and the inventory turnover. The formula for fixed asset turnover is Net income divided by net fixed assets. Explain each turnover