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Compute the profit margin on sales

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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

Reference no: EM131585396

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