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Maurinko [17]
3 years ago
6

The 2017 Annual Report of Tootsie Roll Industries contains the following information. (in millions) December 31, 2017 December 3

1, 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 %
Business
1 answer:
a_sh-v [17]3 years ago
8 0

Answer:

a. Asset turnover = Sales/Average total assets

Asset turnover= 515.7/[(930.9+920.1)/2]

Asset turnover = 515.7 / 925.5

Asset turnover = 0.5572123

Asset turnover = 0.557

b. Return on Assets = Net income/Average total assets

Return on Assets= 80.7/[(930.9+920.1)/2]

Return on Assets = 80.7 / 925.5

Return on Assets = 0.08719

Return on Assets= 8.72%

c. Profit Margin = Net income/Sales

Profit Margin = 80.7/515.7

Profit Margin = 15.65%

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