Question - The 2014 Annual Report of Tootsie Roll Industries contains the following information.
|
(in millions)
|
December 31, 2014
|
December 31, 2013
|
|
Total assets
|
$910.4
|
$888.4
|
|
Total liabilities
|
219.3
|
208.1
|
|
Net sales
|
539.9
|
539.6
|
|
Net income
|
63.2
|
60.8
|
Compute the following ratios for Tootsie Roll for 2014.
(a) Asset turnover
(b) Return on assets
(c) Profit margin on sales