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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 company’s 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.
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