Reference no: EM131051331
In a 1-2 page paper, introduce Tootsie Roll Industries Inc., report on the external auditor's report and then complete the blue cells on tab one of the excel sheet.
Introduction: Should engage investors providing them with information pertinent to an investment decision in Tootsie Roll Industries, Inc. You might address a short history, company values, company goals, product lines, industry challenges, risks and other interesting facts. You can find much of this information on Tootsie Roll Industries Inc. website as well as the first few pages of the annual report. Use professional writing and correct APA format.
Auditor's Report: Please study the document located here before beginning this part of the course project. It will help you understand the background of what you will be reading in the auditor's opinion letter.
Answer the following questions:
• To whom is the letter addressed?
• For what is management responsible?
• For what is the auditor responsible?
• Does the auditor give absolute assurance that the financials are free of material error?
• What is the level of assurance given by the auditor?
• What policies and procedures does a company's internal control over financial reporting include?
• Who is the audit firm that signed the letter?
Excel Spreadsheet: Download this spreadsheet and complete the blue highlighted cells for week two. Tootsie Roll Industries Spreadsheet.
To access Tootsie Roll Industries Inc.'s annual report and other financial information you can use the database Mergent from our library resources. Click on the following link and scroll to the bottom. Use the library database Mergent. https://guides.rasmussen.edu/business
Submit your completed assignment to the drop box below. You should have a Word document and an Excel spreadsheet. Please check the Course Calendar for specific due dates.
Complete blue highlighted areas only for week 1. There are no calculations this week. Keep a copy of this spreadsheet for use in week 8.
Table I Vertical and Horizontal Analysis
Tootsie Roll Industries (TR) Vertical Analysis year 1 Vertical Analysis Year 2 Horizontal Analysis
Income Statement Year 1 (enter the years used) Year 2 Year 3
Revenue (Net Product Sales)
Cost of Goods (Product Cost of Goods Sold)
Product Gross (Profit) Margin
Total Operating Expenses (selling, mkting, admin)
Earnings from Operations
Interest Expense
Income Taxes
Net Earnings (after tax)
Balance Sheet
Cash/cash equivalents (cash)
Investments (short term)
Net Accounts Receivable (Trade)
Inventory (materials, WIP, FG)
Total Current Assets
Net Fixed Assets(PPE, net)
Total Assets
Total Current Liabilities
Total Noncurrent Liabilities
Total Liabilities
Total Stockholders Equity
Total liabilities + Stockholders Equity
Other Information
Stock Price at end of year
Dividends paid Common shareholder
Outstanding Shares Common Stock
Basic EPS (Earnings Per Share)
Treasury Stock
Auditing Firm
Prepared by your name
Select numbers taken from financial statements
Include the source here.