 |  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
Basic Financial Statements
Tootsie Roll Exercises| | TOOTSIE ROLL EXERCISE | EXERCISE 2.17 Tootsie Roll Industries, Inc. Financial Statements LO 4, 5, 6 | | Locate the balance sheet, income statement, and statement of cash flows
of Tootsie Roll Industries, Inc. in Appendix A of your text. Review
those statements and then respond to the following for the year ended
December 31, 1999. - Did the company have a net income or net loss for the year? How much?
- What were the cash balances at the beginning and end of the year?
What were the most important causes of cash increases and decreases
during the year? (Treat "cash equivalents" as if they were
cash.)
- What is the largest asset and the largest liability included in the
company's balance sheet at the end of the year?
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2002 McGraw-Hill Higher Education