Estimate cash collected from customers

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Reference no: EM133264917

Cash Flows Statement of Tootsie Roll Industries, Inc.

Refer to the 2020 Annual Report of Tootsie Roll Industries, Inc. to answer the questions in this part. Consider only the information provided in the Statements of Earnings, Financial Position (Balance Sheet), and Cash Flows. Amounts are presented in $ thousands. Answer the following questions.

Question 1. Estimate cash collected from customers during fiscal 2020. Assume that only "Accounts receivables trade" relates to customers and that product sales are presented net of bad debt expense.

Question 2. Estimate cash paid to suppliers during fiscal 2020. Assume that all accounts payable relate to suppliers?

Question 3. Assume the Company measures bad debt expenses as 3% of beginning gross accounts receivables trade. Calculate the amount of bad debts written off during fiscal 2020

Question 4. How much did the Company pay in total cash dividends during fiscal 2020?

Question 5. How much did the Company pay to repurchase shares during fiscal 2020?

Reference no: EM133264917

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