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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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
|
% |
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