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The 2014 annual report of tootsie roll industries contains

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

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Accounting Basics: The 2014 annual report of tootsie roll industries contains

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Accounting Basics: The 2014 annual report of tootsie roll industries contains

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