Question

The 2017 Annual Report of Tootsie Roll Industries contains the following information. (in millions) December 31,...

The 2017 Annual Report of Tootsie Roll Industries contains the following information.

(in millions)

December 31, 2017

December 31, 2016

Total assets

$930.9 $920.1

Total liabilities

197.1
208.6

Net sales

515.7
517.4

Net income

80.7 67.2


Compute the following ratios for Tootsie Roll for 2017.

(a)

Asset turnover (Round answer to 3 decimal places, e.g. 0.851 times.)

enter the asset turnover rounded to 4 decimal places

?times
(b)

Return on assets (Round answer to 2 decimal places, e.g. 4.87%.)

enter the return on assets in percentages rounded to 2 decimal places

? %
(c)

Profit margin on sales (Round answer to 2 decimal places, e.g. 4.87%.)

enter the profit margin on sales in percentages rounded to 3 decimal places

? %
0 0
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Answer #1

| Asset turnover 0.5572 times Calculation : Asset turnover - Net sales - Average total assets firstly, calculate average tota(c Profit marg 15.65% Profit margin on sales Calculation: Profit Margin on sales - Net Net Income sales - X 100 Profit Margin

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