 |  Financial and Managerial Accounting: The Basis for Business Decisions, 12/e Jan R. Williams,
University of Tennessee
Susan F. Haka,
Michigan State University
Mark S. Bettner,
Bucknell University
Robert F. Meigs
The Accounting Cycle: Reporting Financial Results
Tootsie Roll Exercises| | TOOTSIE ROLL EXERCISE | EXERCISE 5.10 Examining an Annual Report LO 3, 6 | | The annual report of Tootsie Roll Industries, Inc. appearsin Appendix A at the end of this textbook. - Review the notes accompanying the company's consolidated financial
statements. Identify the 11 major topic headings.
- Does the company use straight-line depreciation? How can you tell?
- What portion of the company's total revenue came from a single major
customer in each of the three years reported?
- Using information from the consolidated financial statements, evaluate
briefly the company's profitability and solvency.
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2002 McGraw-Hill Higher Education