Tootsie Roll Paper

Tootsie Roll Paper
Running head: TOOTSIE ROLL INDUSTRIES INC. LOAN PACKAGE 1 Tootsie Roll Industries
Inc. Loan Package TOOTSIE ROLL INDUSTRIES INC. LOAN PACKAGE Tootsie Roll
Industries Inc. Loan Package The financial statement of Tootsie Roll Industries provides insightful
details into the 2 financial activities of the decades old organization. A financial statement is the
"summary report that shows how a firm has used the funds entrusted to it by its stockholders and
lenders, and what is its current financial position" ("Financial statement," 2012). The company is
known for products such as Tootsie Rolls, Tootsie Roll Pops, Caramel Apple Pops, Child's Play,
Charms, Blow Pop, Blue Razz, Cella's chocolate covered cherries, Mason Dots, ... Show more
content on Helpwriting.net ...
LOAN PACKAGE Collateral – Schedule A, Form 413: Personal Financial Statement, Form 912:
Statement of 3 Personal History, Form 1624: Certification Regarding Debarment, Suspension,
Ineligibility and Voluntary Exclusion Lower Tier Covered Transactions, and Form 1846: Statement
Regarding Lobbying (U.S. Small Business Association, n.d.). Lenders and borrowers must work
together in order to apply for the most applicable loan to the business. According to U.S. Small
Business Association (n.d.), "Borrowers should provide complete financial statements for the last
three years including balance sheets, income statements, and a reconciliation of net worth as well as
a current (no more than 90 days old) interim financial statement" (Business Financial Statements).
The borrower must also provide projections to the creditor. The projections predict a year out or the
positive flow of cash, which includes earnings, expenses, and the reasons behind the projections
(U.S. Small Business Association, n.d.). The borrow should include documentation to assist in the
predications such as contracts of lease proposals, franchise agreements, purchase agreements,
articles of incorporation, plans, specifications, copies of licenses, letters of reference, letters of
intent, and contracts partnership agreement (U.S. Small Business Association, n.d.). If the borrower
does not provide the proper
... Get more on HelpWriting.net ...

Analysis Of Hershey Corp. And Tootsie Roll
Financial Statement Analysis Project––Hershey Corp. & Tootsie Roll Industries
Liquidity
Based on the ratio analysis performed, it appears that the Hershey Company's liquidity is sufficient
to meet cash needs and current obligations. The current ratio and current debt coverage ratios were
decreasing from 2002 through 2004, which corresponds to an increase in short–term debt and a
decrease in cash on the Company's balance sheet over the same periods. Hershey attributes the
increase in debt to corporate consolidations, capacity expansion, and modernization and efficiency
improvements. Outside of the increase in debt, accounts receivable turnover and average days'
collections appear to be steady, which indicates that Hershey is able to ... Show more content on
Helpwriting.net ...
Profitability
Hershey's ratios indicate that the Company's ability to earn income is increasing across the periods
analyzed. Increasing profit margins and gross profit rates indicate that the Company is managing its
costs effectively. Increasing return on assets indicates that the Company has been effectively using
its assets to generate earning power. The Hershey Company appears to be profitable and is
effectively managing costs and resources to generate increased income and provide greater return to
its investors, demonstrated by increases in return on equity and earnings per share.
Although all of Tootsie Roll's profitability ratios decreased slightly between 2002 and 2004, the
results appear fairly consistent. This Company appears to provide a steady profit and rate of return
to its investors. Its profit margins and return on equity are slightly higher than that of Hershey,
although both companies appear solid in their ability to generate profits. The stock price has also
fluctuated less, providing a steady price/earnings ratio. This is another indicator of a strong, steady
performance by Tootsie Roll Company, and stable profitability results.
As of 2008, Hershey Company still appears to be providing strong investor returns. Although its
profit margin has decreased, its gross profit rate has remained steady, indicating that the Company is
still effectively

Acc 561 Week 3 Team Tootsie Roll Loan Paper
Tootsie Roll Industries, Inc. Loan Package
ACC/561
Tootsie Roll Industries, Inc. Loan Package In week three, Learning Team E presents a loan package
for public held company, Tootsie Roll Industries, Inc., in business for over 100 years. Tootsie Roll is
a manufacturer of confectionery products. In addition to sales in the United States, Tootsie Roll's
profits grew in Mexico, Canada, Europe, Asia, South and Central America. This loan package
consists of three sections: Financial Ratios, Corporate Strategy–2008 Project: Capital Expenditure,
and Loan Approval's Effect on Tootsie Roll Industry, Inc. Financials.
Comments on Financial Ratios and Company Financial Position Selected financial ratios were
calculated and are summarized in ... Show more content on Helpwriting.net ...
Although debt to total assets has risen slightly, the amount of current liabilities has dropped by $4M
and the cash debt coverage ratio has improved. This shows that Tootsie Roll can handle taking on a
loan for $15M. When looking at profitability from 2006 to 2007, the ratios show that performance
suffered. Profit margin, return on assets, and earnings per share have all dropped. However, net cash
provided by operations exceeds 2006 amounts and almost matches that of 2005. Taking all of these
ratios into account, Tootsie Roll's financial standing is strong but could be improved by taking on a
loan and investing wisely.
Justification for Loan: Corporate Strategy 2008 According to Tootsie Roll's annual report (Kimmel
et al., Appendix A, 2009), the organization has a forward financial make–up and historically upholds
a conservative financial policy. The organization employs the services of professional money
managers and supports investment policy guidelines while stressing quality and liquidity to reduce
latent loss exposures in the event of adverse events. As shown in the ratios chart, working capital
has increased by $13M. Maturities of short–term investments and cash flow from operations are
projected to be sufficient to sustain the company's overall financing needs, including capital
expenditures. The following corporate strategic plan identifies a project that needs financial backing.
How will the requested $15M loan be budgeted in 2008? A strategic

Tootsie Roll Case Study Essay
1. Strategy Assessment
Tootsie Roll's simple strategy is to be (and remain) a top–quality producer and distributor of Tootsie
Rolls and other candy products, in an industry where it currently has 2 to 3 percent of market share.
Specifically, the company has determined to specialize, almost entirely, in hard candies (such as
Tootsie Pops and Blow Pops) and chewy candies (such as Tootsie Roll, Frooties and Flavor Roll),
and it currently maintains a 50 percent market share in this unique segment. The success of Tootsie
Roll in the U.S. for the past 19 years is attributable to the strong consumer awareness of the
company's brand name and brand loyalty. Over time, Tootsie Roll has neither diluted the quality of
its products nor failed to ... Show more content on Helpwriting.net ...
In addition to these objectives, some of the competitive advantages that help the company maintain
its leading position in the marketplace are highlighted in Exhibit II.
2. Key Strategic Issue
Tootsie Roll faces a number of key issues concerning its strategy. One of such strategic issues relates
to how it can maintain its marketplace success and sustain its competitive advantages, in light of (i)
the company's growth prospects in U.S. and foreign markets, (ii) intensity of the competition, and
(iii) the fact that the two key leaders of the company are not getting any younger.
3. Options for Resolving Key Strategic Issue
To resolve this key issue, we recommend the following options:
(i) Because leadership is a key force in determining an organization's success or lack thereof, the
Gordons should consider putting a succession plan in place as soon as possible and should start
grooming the would–be successor(s).
(ii) Extend Tootsie Roll's vertically integrated structure to include product packaging facility, to be
consistent with the company's current structure. This could directly reduce costs, in addition to the
time and energy saved in negotiating fixed–price contracts with packaging suppliers. Tootsie Roll
would also be able to control the production of tamper–proof packaging in a manner that did not
compromise its brand image.
(iii) Rather than reduce its spending on advertising

Hoffman Thesis Statement
Dustin Hoffman Essay
Dustin Lee Hoffman was born on August 8, 1937 in Los Angeles California. His parents, Lillian and
Henry Hoffman. His mother was a jazz pianist, and his father worked as a prop/stage director. He
grew up in Los Angeles and while his family were descendants of Jewish immigrants from Ukraine
and Romania, and the family was not very religious. In 1955, Hoffman graduated from Los Angeles
High School and enrolled in the Los Angeles Conservatory of music but soon left because he found
that he did not have an ear for music. He then enrolled at Santa Monica College to study medicine,
but left after a year to join the Pasadena Playhouse to pursue acting. His excuse was that, "So in my
first year of junior college I'm failing and I don't know what to do. I don't want to get a job, I want to
be a student, and a friend says, 'Take acting, because they don't flunk you – it's like gym, nobody
gets an F.'". At Pasadena Playhouse, Hoffman befriended another young actor, Gene Hackman.
Eventually, the two friends would move to New York City together, ... Show more content on
Helpwriting.net ...
But, Hoffman has more in common with male stars in earlier generations who did not look like
gods, but like real human beings. Hoffman, who was an actor first, star second, went to great lengths
to assure that his roles had a tinge of realism tied to them. He once said, "One of the things that
constantly hits me is that when I go outside on the street, what I see is not what I see on the screen. I
turn on the television, and what I see on the screen is not what I see in real life. It bothers me. I want
to get closer to what I see in life. I love to see hair out of place. I love to see people without makeup,
or at least with their own blush showing, their own pimples, and their own specific

The Hershey Company And Tootsie Roll Industries
The Hershey Company and Tootsie Roll Industries, Inc. have weathered the "Great Depression"
with a history of more than one hundred years in the confectionary candy making industry. Their
vision and longevity have pushed them into the twenty first century to meet the needs of the
community, consumer, affordability, environment and healthy control portions. Both companies
have made available, reduced sugar, sugar free, nut free, peanut free and gluten free products that is
reflected in their candies, gum and mints. The two companies are worth investing in, but may be
better than the other.
Tootsie Roll Industries Overview
Tootsie Roll Industries (TR), a popular world–wide confectionary company, has been successful
since inception in 1986 with the introduction of the Tootsie Roll and has profited from low prices,
quality and convenience. TR is in a solid position for growth with a strong balance sheet, great
brand equity, and control over in–house operations. The company is controlled by the CEO and
COO, Melvin and Ellen Gordon.
Tootsie Roll is a publically owned franchise that is traded as New York Stock Exchange (NYSE)
Stock Symbol TR. Tootsie Roll maintained a two percent share of the $8 billion total candy market,
which was dominated by such corporate giants as Nestlé and Hershey, it has been a longtime leader
in the non–chocolate and lollipop segment of the industry, enjoying a 50 percent market share. ( )
They own many trademarks in the U.S. and internationally.

Tootsie Roll
The Tootsie Roll Expansion Project; Growth to Solidify the Future
ACC/561
September 26, 2011
Jared Jones
The Tootsie Roll Expansion Project; Growth to Solidify the Future
"Everyone loves the flavor of a tootsie pop" has been a popular phrase for years, a commercial
jingle that reminds everyone of the wonderful taste, a memory from childhood that brings people
from miles around to local candy stores seeking Tootsie rolls, whether it is a lollipop or a tootsie roll
chocolate, everyone one is familiar. Taking a corporation and expanding on it when it is already
successful is a difficult concept but making a business better is something that we can and will do.
Taking the Tootsie roll industry to the next level will require ... Show more content on
Helpwriting.net ...
The higher the ratio the better the company stands with ability to pay loans. The four quarters for
quick ratios in year one are as follows; 1.48, –.14, .25, 1.29, and year 2–4 are as follows; 3.26, 3.88,
5.11, 5.69 (NetMBA, 2010.)
Profitability Ratios The profitability ratio shows the ability for a company to generate profits. Ratios
that are used calculating profitability of a company are return on assets and return on equity. The
return on assets calculates the ability of a company to effectively use assets to generate income, the
percentages per quarter in year one are; 76%, 22%, 34%, 37%. This shows profit during each
quarter. In years two, three, and four the percentages are; 68%, 54%, 49%, 38%. These ratios show a
slight decline but still a solid profit. The return on equity shows the amount of money earned per
dollar investing into the company by shareholders. By quarter, year one return on equity is .81 .61
.28 .29, years two, three and four are all .32. These numbers show an above average return, the
average return in the United States is between .10–.15, and over .20 is considered above average
(Kennon, 2011.)
Solvency Ratio The solvency ratio is the ability for a company to repay debts shown in a percentage.
The ratio shows if a business can meet goals of a long term loan by calculating the current and long
term liabilities divided by net profit after taxes plus depreciation. In years one through four the

Tootsie Roll Loan
Tootsie Roll Industries Inc. Loan Package
University of Phoenix
Tootsie Roll Industries Inc. Loan Package Tootsie Roll Industry Inc. will be preparing a loan
package to maintain ultimate company performance, maximize the company's profits, and increase
the shareholder's value. Tootsie Roll Industry Inc. will be applying for a loan that will increase the
company's total liability by $17,449.50. A perfect loan package includes a concise executive
summary that focuses primarily on the ratio analysis of the financial statement, justification for the
loan, and explanation of how the company intends to use loan. The corresponding ratio calculations
are justified in the appendix. ... Show more content on Helpwriting.net ...
Advertising this new sugar free version will create brand awareness, and will increase customers.
Tootsie Roll will continue to use visual aspects in its campaign mix, just as Kit Kat, M& M's,
and Hershey have done previously. For instance, the owl licking the Tootsie Roll lollypop connects
the customer to the product. The child asks the owl how many licks it takes to get to the middle of
the Tootsie Roll pop. The owl will lick the lollipop and begin counting. This visual identity is
familiar to older generations. Tootsie Roll will also focus on recreating visual aspects to target
younger audiences. The campaign requires additional funding. However, the revenues generated are
vital to the company's yielded return is greater. Intend Use of the Loan Tootsie Roll will allocate
funds to the following areas, expansion, marketing, and retirement. Tootsie Roll aspires to remain
the brand highly recognized across all classes of trade (Kimmel, Weygandt, & Kieso, 2009).
Tootsie Roll can use additional funding to expand and penetrate United States and foreign markets
successfully while improving its products. Tootsie Roll continues to offer products that are
accessible, affordable, and customer–centered. Using targeted consumer and trade promotions to
create value in the product will also increase distribution and sales, and yield a faster return on

Tootsie Roll Q&a
Tootsie Roll 1. How does Tootsie Roll Industries (TRI) communicate its values to suppliers and
employees? TRI uses a top–down method, which in some cases can alienate lower leveled
employees. TRI has implemented a few different programs to encourage accessibility, teamwork,
and open communication. The company's "open door policy," allows for employees to observe and
participate in the decision–making process throughout all departments. The company also
established cross–functional teams, which increases creativity and increases the employees'
sensitivity on issues that will affect the organization. Cross functional groups provide cross training
to the company's employees. These types of programs display the company's ... Show more content
on Helpwriting.net ...
What communication techniques demonstrate the company's flexibility? TRI demonstrates its
flexibility with the "open door" policy and cross training programs. As mentioned above, both allow
TRI management to show the value the company has in employees' insights and opinions.
Employees are encouraged to confront and resolve conflicts, which means the company is flexible
to problem resolution. The company shows its flexibility with suppliers and acquisitions through its
strategic bargaining. It uses a cooperative strategy, which is very open, honest and upfront with its
business partners. It uses an open bargaining structure, argumentation, and concession to lead to a
mutually satisfaction agreement. This was also identified above in the Chicago example. The open
structure allows for everything to be put on the table, so the negotiation process is more successful.
3. How do cross–functional teams benefit TRI? Cross–functional teams give a wide range of ideas,
viewpoints, opinions, and knowledge, which increases the likelihood of coming up with effective
solutions or successful product development. Because of these teams, solutions for new product or
business venture are very will reasoned and the organization is well informed. These teams also
increase workplace dynamics, and when employees work across functions they develop a better
appreciation for the company

Sm Ch 25
CHAPTER 25
REWARDING BUSINESS PERFORMANCE
OVERVIEW OF BRIEF EXERCISES, EXERCISES, PROBLEMS, AND CRITICAL
THINKING CASES
Brief
Exercises
B. Ex. 25.1
B. Ex. 25.2
B. Ex. 25.3
B. Ex. 25.4
B. Ex. 25.5
B. Ex. 25.6
B. Ex. 25.7
B. Ex. 25.8
B. Ex. 25.9
B. Ex. 25.10
Topic
Motivating employee performance
Evaluate business performance using ROI
Comparing ROI and residual income
Balanced scorecard perspectives
Computations for the DuPont model
Criticisms of ROI
Calculate residual income
Calculate EVA
Variable vs. fixed compensation
Components of ROI
Learning
Objectives
25–1, 25–6
25–2, 25–3
25–2, 25–4
25–5

25–3
25–3
25–2, 25–4
25–4
25–6
25–2
Exercises
25.1
25.2
25.3
25.4
25.5
Topic
Accounting terminology
Balanced scorecard activities
Employee ... Show more content on Helpwriting.net ...
Because individual students' answers will be different, this makes a good class discussion question.
30 Medium
25.3 A,B
Fairfax Industries/Wilson Company
This problem demonstrates the impact of a choice of depreciation method on operating earnings.
Because operating earnings are instrumental in determining the performance evaluation and
resulting bonus of the manager of a division, the ethics of the choice are considered. 30 Medium
25.4 A,B
Tootsie Roll Industries
This problem demonstrates that information found in annual reports can be used to evaluate business
segments. Financial information for computing ROI, capital turnover, and return on sales is
included.
20 Medium
25.5 A,B
Fastwhere Inc./Save Some, Inc.
A set of potential investment projects is evaluated on both ROI and residual income measures. The
calculations demonstrate that the project rankings are different if residual income is used rather than
ROI to rank project attractiveness.
40 Strong

25.6 A,B
Valance Autoparts/Eatwell Restaurant Chain
This problem asks students to role play as a consultant to a firm that is having some problems with
the balanced scorecard approach. It is a good problem to be used for a group report or presentation.
40 Strong
25.7 A,B
Hinkley Corporation/Bronson Corporation
Students consider management compensation

Tootsie Roll Exercises
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 Chap 1 Accounting for Decision Making Tootsie Roll Exercises | | *
http://highered.mcgraw–
hill.com/sites/0072396881/student_view0/chapter1/tootsie_roll_exercises.html * | | TOOTSIE
ROLL EXERCISE | EXERCISE 1.16Tootsie Roll Industries, Inc.General InformationLO 3, 7 | |
Locate the Tootsie Roll Industries, Inc. annual report that appears in Appendix A of the text. Briefly
peruse the annual report and then respond to the following. a. Who are the two individuals
responsible for the letter to ... Show more content on Helpwriting.net ...
Use this report to completes the following requirements: a. Calculate the gross profit percentage of
Tootsie Roll Industries for each of the years shown in the company 's income statements. b. Evaluate
the company 's trend in sales and gross profit to date. c. Does management seem optimistic about
future trends in sales and gross profit? Explain. | | http://highered.mcgraw–
hill.com/sites/0072396881/student_view0/chapter6/tootsie_roll_exercises.html Financial Assets
Tootsie Roll Exercises | | | | TOOTSIE ROLL EXERCISE | EXERCISE 7.18Using the Annual
Report of Tootsie Roll Industries, Inc.LO 1, 6 | | The annual report of Tootsie Roll Industries,
Inc.appears in Appendix A at the end of this textbook. Use this report to answer the following
questions: a. What is the total dollar value of the company 's financial assets for the most current
year reported? b. Does the company report any investments in marketable securities? If so, how
does it report unrealized gains and losses? c. What is the company 's allowance for uncollectible
accounts for the most current year reported? d. On average, for how many days do the company 's
accounts receivable remain outstanding before collection? | |

Tootsie Roll Pop Research Paper
Description of a Tootsie Roll Pop Tootsie roll pops are an iconic candy for all ages. Like most
people, I grew up enjoying tootsie roll pops. I would imagine, over the years that I have eaten
thousands of them. As an adult, I feel a bit nostalgic when eating one, always remembering the
slogan, how many licks does it take to get to the tootsie roll center of a tootsie roll pop? As I enter
Rocket Fizz candy shop to select a tootsie roll pop, I see row after row and bin after bin of colorful,
delicious and scrumptious sweetness. I find the selection of tootsie roll pops and see I can choose
from purple, red, orange, green, pink or blue. I cannot decide which flavor so I purchase one of
each. Once I get home, I lay the flavors out in front of

Guillermo Furniture Store Analysis
Tootsie Roll Industries, Inc.: Loan Package Tootsie Roll Industries, Inc.: Loan Package Tootsie Roll
Industries is applying for a loan package that will help them achieve superior things. There are many
opportunities that can be accomplished by allocating money to different areas. The different areas
include healthier ingredients, expansion, and advertising. These areas will increase the production
and success of the Tootsie Roll Industries, Inc. Within this loan package, there are many exciting
things that will improve and perfect healthier candies at Tootsie Roll Industries all over the world.
Strategic Applications With the proceeds from the loan, the plan that Tootsie Roll will use the loan
to improve the ... Show more content on Helpwriting.net ...
Proper financing will help the company put those things into place and hire the right employees to
handle that area of the expansion. Providing financing for Tootsie Roll Company's expansion can
increase diversity by expanding overseas. Expansion could also introduce new innovative products
and services to others overseas. Financing finally will lead in helping costs associated with
improving the company with enhancement, and development, purchasing equipment for all
operations, and with other expenditure items not listed above. Expanding the business overseas can
be rewarding for the company and for the lender. Financial Analysis and Ratios Liquidity (dollar
values in thousands) The following financial data illustrates the firm's short–term ability to pay
maturing obligations and to meet unexpected needs for cash: | Liquidity Ratio | 2007 | 2006 |
Characterization | 1) | Current | 3.45 | 3.07 | Excellent | 2) | Current Cash Debt Coverage | 1.50 Times
| 0.93 | Excellent | 3) | Working Capital | $141,754 | $128,706 | Excellent | 1) The current ratio for the
previous two years is very positive. In 2007 Tootsie Roll has 3.45 dollars of current assets for every
dollar of liabilities. Although this ratio does not account for cash at a given time, the current cash
debt coverage ratio further solidifies the financial health related to credit worthiness. 2) Current cash
debt coverage values bolster liquidity implications. As

Tootsie Roll: The Star Market
For many people, the star market is a popular method for obtaining money quickly. Despite the
risks, many people invest their money in stocks. The stock market allows the public to buy shares of
a company, or a stock. These shares come in the form of an official document, and grants you a
small fraction of the company you invested in. As companies do well, their stocks are worth more.
Stocks can be bought and sold through the help of a stockbroker. The goal is to buy a share of a
company, then later sell the share for more money than you bought it for. However, the market is
risky; this is proven by multiple crashes in the market, resulting in loss of money. My stock is
Tootsie Roll Industries, which is a candy company. There produce several

Business Plan and Loan Package
Running head: TOOTSIE ROLL INDUSTRIES, INC. LOAN PACKAGE
ACC561
22 September 2011
Introduction
Now that the small business idea has become more that just fine print, it is time to put together a
loan package that explains the story of the company. There are important questions to answer,
demonstrating the company's ability to correctly make important financial decisions, and detail how
the business will pay off the loan. This paper will include the requirements of a loan package,
creditor requirements, a ratio analysis, loan justification, and how the company plans to use the
proceeds.
Tootsie Roll Industries, Incorporated Loan Package
Loan Package Requirements
Like ... Show more content on Helpwriting.net ...
needs a loan to supplement operational expenses and decrease the negative impact market risk
factors may have on sales volume. In 2007, the product cost of goods sold increased from costs
incurred 2006 as a result of significant increases in prices of many commodities purchased by
Tootsie Roll. These commodities consist of some of the major ingredients used in Tootsie Rolls and
other products, such as corn syrup, dextrose, milk products, vegetable oils, sugar, and gum base
ingredients (Tootsie Roll Industries, 2011).
As a percentage of net sales, product cost of goods sold increased from 62.8% in 2006 to 66.5% in
2007 (Kimmel, Weygandt, & Kieso, 2009). Light freight and delivery costs increased as a
result of increases in energy costs, such as oil used for fuel. Exchange of foreign currency on
products manufactured in Canada has generated an adverse effect as well, even though sales growth
has increased. Tootsie Roll Industries, Inc. has made efforts to offset the increases in costs of
commodities through selective price increases and reducing costs where possible (Kimmel,
Weygandt, & Kieso, 2009). However, the company has not been able to recover all of the costs

associated with the increases in commodities.
The company does not want to risk product price

Tootsie Roll Essay
Tootsie Roll, Inc.
Sharon Ungar Lane, Bentley College
Alan N. Hoffman, Bentley College
INTRODUCTION: "Tootsie Roll's good fortunes are an accumulation of many small decisions that
were probably made right plus bigger key decisions, such as acquisitions, that have been made right,
and a lot of luck." Mel Gordon, CEO – Tootsie Roll, 1993
Tootsie Roll Industries, Inc., a niche candy maker, has often been voted one of Forbes magazine's
"200 Best Small Companies of America." A top quality producer and distributor of Tootsie Rolls and
other candy, Tootsie Roll Industries maintains a 50% market share of the taffy and lollipop segment
of the candy industry, and sales have increased each year for the past nineteen years. The world's
largest ... Show more content on Helpwriting.net ...
The U.S. confectionery market generates approximately $9.7 billion in annual sales. Candy is not
yet a "mature" industry in the United States. The compound annual growth rate for candy in the past
ten years has been close to 6% a year, a very solid gain in an industry that is supposedly mature. In
fact, within the chocolate confectionery subcategory, the United States ranks 11th in the world in per
capita consumption and fifth in the world in growth since 1980. Based on current demographics,
many analysts believe that there will be further growth for confectioneries. A "baby–boomlet" is on
the way, significantly increasing the teenage population. By the time the population bulge peaks in
the year 2010, it will top the baby boom in the 1960s in both size and duration. According to
government statistics, the percentage of children between the age of 5 and 14 will rise during the
1990s, increasing from 14.2 percent of the population in the 1990 to 14.5 percent in the year 2000.
This trend will serve as a strong foundation for increasing consumption of confectionery products
through the end of the century. Nevertheless, spending for food and drink as a percentage of all
personal consumption is declining in the United States, and most manufacturers recognize that
future opportunities lie in using profits from domestic

Essay Wiley Plus Chapter 12 Answers
*Chapter 12
Questions
1. (a) What is a statement of cash flows?
The statement of cash flows reports the cash receipts, cash payments, and net change in cash
resulting from the operating, investing, and financing activities of a company during a period in a
format that reconciles the beginning and ending cash balances
(b) Mark Paxson maintains that the statement of cash flows is an optional financial statement. Do
you agree? Explain.
Disagree. The statement of cash flows is required. It is the fourth basic financial statement.
2. What questions about cash are answered by the statement of cash flows?
The statement of cash flows answers the following questions about cash: (a) Where did the cash
come from during the period? (b) What ... Show more content on Helpwriting.net ...
How should they be disclosed?
The statement of cash flows presents investing and financing activities so that even noncash
transactions of an investing and financing nature are disclosed in the financial statements. If they
affect financial conditions significantly, the FASB requires that they be disclosed in either a separate
schedule at the bottom of the statement of cash flows or in a separate note or supplementary
schedule to the financial statements.
6. Diane Hollowell and Terry Parmenter were discussing the format of the statement of cash flows
of Snowbarger Co. At the bottom of Snowbarger's statement of cash flows was a separate section
entitled "Noncash investing and financing activities." Give three examples of significant noncash
transactions that would be reported in this section.
Examples of significant noncash activities are: (1) issuance of stock for assets, (2) conversion of
bonds into common stock, (3) issuance of bonds or notes for assets, and (4) noncash exchanges of
property, plant, and equipment.
7. Why is it necessary to use comparative balance sheets, a current income statement, and certain
transaction data in preparing a statement of cash flows?
Comparative balance sheets, a current income statement, and certain transaction data all provide
information necessary for preparation of the statement of cash flows. Comparative balance sheets
indicate how assets, liabilities, and

Course Project
Oracle is one of the leading companies in the software and hardware industry. Oracle develops,
manufactures and distributes various kinds of software and hardware systems worldwide. The
company was founded in 1977 and is headquartered in Redwood City, California. Oracle currently
has about 108,000 full–time employees worldwide. Microsoft Corporation develops, manufactures
and distributes a range of software products and services for various computing devices worldwide.
Microsoft also manufactures gaming systems such as Xbox 360 and related entertainments systems.
Microsoft was founded in 1975 and is headquartered in Redmond, Washington. Microsoft currently
employs about 90,000 full–time employees worldwide. Liquidity: Tootsie ... Show more content on
Helpwriting.net ...
Microsoft's Return of Assets Ratio of 21.2% is better than Oracle's 13.4%. Finally, Microsoft's
Return on Common Stockholder's Equity Ratio of 39.5% is better than Oracle's 26.8%. However,
Oracle does have a higher Price/Earnings Ratio of 23 vs. Microsoft's 20 which means that the stock
market is more optimistic about Oracle's future prospects. However, the P/E Ratio of Oracle is not
significantly higher than Microsoft so Microsoft still is a better company given all their Profitability
ratios. Conclusion: Tootsie Roll is the safer investment when you examine the liquidity and solvency
ratios; however, Hershey has the edge for two significant profitability ratios. These ratios are return
on common stockholders' equity and the payout ratio. The stock market also is more optimistic
about the future of Hersheys. That said, I would invest in Tootsie Roll because of their fiscal
strength. Conclusion: Microsoft is the safer investment when you examine the liquidity and
solvency ratios. Also, Microsoft has the clear advantage when you look at the profitability ratios of
both companies. The stock market is more optimistic about the future of Oracle given the P/E ratio
however Microsoft's P/E ratio is not much lower than Oracle's. Hence, I would certainly invest in
Microsoft because of their fiscal

Research: Income Statement and Laser Recording Systems Essay
(Note: This is a continuation of the Cookie Chronicle from Chapters 1 through 3.) CCC4 Cookie
Creations is gearing up for the winter holiday season. During the month of December 2011, the
following transactions occur. Continuing Cookie Chronicle 219 Dec. 1 5 8 9 15 16 19 23 23 23 28
Natalie hires an assistant at an hourly wage of $8 to help with cookie making and some
administrative duties. Natalie teaches the class that was booked on November 25. The balance out–
standing is received. Cookie Creations receives a check for the amount due from the neighborhood
school for the class given on November 30. Cookie Creations receives $750 in advance from the
local school board for five classes that the company will give during December ... Show more
4. Interest on the note payable is accrued. (Assume that 1.5 months of interest accrued during
November and December.) Round to nearest dollar. 5. One month's worth of insurance has expired.
6. NatalieisunexpectedlytelephonedonDecember28togiveacookieclassattheneigh– borhood
community center on December 31. In early January Cookie Creations sends an invoice for $450 to
the community center. 7. A count reveals that $1,025 of baking supplies were used. 8. A cell phone
invoice is received for $75. The invoice is for services provided during the month of December and
is due on January 15. 9. Because the cookie–making class occurred unexpectedly on December 28
and is for such a large group of children, Natalie's assistant helps out. Her assistant worked 7 hours
at a rate of $8 per hour. 10. An analysis of the unearned revenue account reveals that two of the five
classes paid for by the local school board on December 9 still have not been taught by the end of
Decem– ber. The $60 deposit received on December 19 for another class also remains unearned.
Instructions Using the information that you have gathered and the general ledger accounts that you
have prepared through Chapter 3, plus the new information above, do the following. (a) Journalize
the above transactions. (b) Post the December transactions.

A Comparative Anlysis of Hershey Company and Tootsie Roll...
Liquidity Ratios: Overall Tootsie Roll has better liquidity. Liquidity measures the short–term ability
to pay obligations as they are expected to be due within the next year. When working capital is a
positive number, there is a higher likelihood that the company will be able to pay it liabilities. Is this
case Tootsie Roll is more likely to be able to pay their liabilities because they have a positive
working capital and Hershey's is negative. The current ratio indicates the ability to pay on maturing
obligations and to be able to meet unexpected cash needs. Again in this case Tootsie Roll has a
higher probability of being able to pay their obligation and meet their unexpected cash needs. They
have a $2.34:1 ratio ... Show more content on Helpwriting.net ...
Solvency is the ability to pay interest as it comes due and to repay the face value of debt at maturity.
The only questionable value is Tootsie Roll's their free cash flow. Debt to total assets ratio measures
the percentage of assets financed by creditors (not stockholders). Debt finance is more risky than
equity finance because they must be paid whether a company is doing well or not. Tootsie Roll has a
28% debt to total assets ratio while Hershey's is 71% indicating that Hershey is taking a higher risk.
Cash debt coverage ratio indicates the ability to repay liabilities from cash generated from
operations without having to liquidate assets such as property, plant, and equipment. Although the
values of both companies are close, Tootsie Roll has a higher ability to generate cash from
operations to repay liabilities. Times interest earned ratio shows an indication of a company's ability
to meet interest payments as they come due. Tootsie Roll has a much higher probability of meeting
the interest payments as they are due. Free cash flow is the cash remaining from operations which
indicates the company's ability to generate cash. In this case Hershey has a much higher free cash
flow amount which indicates they have a higher ability to generate cash. This calls into question
Tootsie Rolls ability to repay long–term obligations. Profitability Ratios: Every value in the
profitability

ACC/561
Tootsie Roll Industries, Inc. Loan Package In week three, Learning Team E presents a loan package
for public held company, Tootsie Roll Industries, Inc., in business for over 100 years. Tootsie Roll is
a manufacturer of confectionary products. In addition to sales in the United States, Tootsie Roll's
profits grew in Mexico, Canada, Europe, Asia, South and Central America. This loan package
consists of three sections: Financial Ratios, Corporate Strategy–2008 Project: Capital Expenditure,
and Loan Approval's Effect on Tootsie Roll Industry, Inc. Financials.
Comments on Financial Ratios and Company Financial Position Selected financial ratios were
calculated and are summarized in ... Show more content on Helpwriting.net ...
Although debt to total assets has risen slightly, the amount of current liabilities has dropped by $4M
and the cash debt coverage ratio has improved. This shows that Tootsie Roll can handle taking on a
loan for $15M. When looking at profitability from 2006 to 2007, the ratios show that performance
suffered. Profit margin, return on assets, and earnings per share have all dropped. However, net cash
provided by operations exceeds 2006 amounts and almost matches that of 2005. Taking all of these
ratios into account, Tootsie Roll's financial standing is strong but could be improved by taking on a
loan and investing wisely.
Justification for Loan: Corporate Strategy 2008 According to Tootsie Roll's annual report (Kimmel
et al., Appendix A, 2009), the organization has a forward financial make–up and historically upholds
a conservative financial policy. The organization employs the services of professional money
managers and supports investment policy guidelines while stressing quality and liquidity to reduce
latent loss exposures in the event of adverse events. As shown in the ratios chart, working capital
has increased by $13M. Maturities of short–term investments and cash flow from operations are
projected to be sufficient to sustain the company's overall financing needs, including capital
expenditures. The following corporate strategic plan identifies a project that needs financial backing.
How will the requested $15M loan be budgeted in 2008? A strategic

Acct-504 Final Project
Financial Analysis of Hershey and Tootsie Roll
Keller University
ACCT–504
Instructor:
Financial Analysis of Hershey and Tootsie Roll
Introduction
Tootsie Roll and Hershey are two similar companies with a similar product offering, but they
operate on entirely different scales. In an effort to determine the better investment of the two
companies we will utilize multiple financial analysis ratios to gauge the health of the respective
companies in terms of liquidity (the ability to pay short–term liabilities and respond to
opportunities), solvency (the long–term viability of the company) and profitability (the efficiency at
which the can turn it's resources into profits). However, the snapshot picture of ... Show more
(Harrison Jr., Horngen, Tomas, 2013) Even though the cost of goods sold consumes $0.52 of each
sale, The Hershey Company managed to generate a profit of $0.48 for each dollar of sales.
Profit Margin Ratio
The profit margin ratio demonstrates the ability of a company to increase the percentage of net
income earned for every dollar of sales. For example: "this ratio shows the percentage of each sales
dollar earned as net income". (Harrison Jr., Horngen, Tomas, 2013) The Hershey Company was able
to increase the profit margin ratio from 10 percent in 2012 to 11 percent in 2013. The increase in
profit margin from the previous year 2012 shows that the performance of the company is increasing
which means that revenue is increasing or expenses are decreasing. Furthermore, The Hershey
Company is managing their performance efficiently and this is directly reflected in profit margin
ratio.
Return on Assets
The return on assets (ROA) ratio helps measure how profitable a company is in relation to its total
assets. In the case of Tootsie Roll, the company had an ROA of .06 in 2012 and an ROA of .07 in
2013. This is an increase of close to 16.7 percent year over year. Hershey, on the other hand had an
ROA of .14 in 2012 and .16 in 2013. Hershey's rising ROA is comparable at 14.3 percent. With
change 16.7 percent and 14.3 percent being so similar, we favor Hershey's ROA at the higher rate of
.16 in 2013 as opposed to Tootsie

The Hershey and Tootsie Roll Company's Final Report
Everyone remembers going around as a child for one night of the year dressed up as his or her
favorite ghoul or storybook character and returning home with a sack full of delicious candies.
There were always a variety of candy types, but most of these candies were usually made by two of
the major companies in the industry. The Hershey Company and the Tootsie Roll Company were
both well represented on this night. Both companies made so many different types of candies for
young children to enjoy that the names would forever be imbedded in their minds. These treats were
not just for the children, but for the children in all the adults as well. Taste and memories alone are
not good enough for the companies to have had as long a tradition as ... Show more content on
Helpwriting.net ...
Hershey concentrates on a variety of chocolate products ranging from powder form to an assortment
of candy bars, including the famous Hershey Kiss®, to the wholesaling of large decadent chocolate
products for other smaller chocolate candy manufacturers.
Stock Comparisions
Stocks between both Hershey Company and Tootsie Roll Industries are similar in nature; however,
due to the vast line of products available between the two companies; Hershey comes out ahead with
more products to their line. According to current stock numbers, though Tootsie Roll went public in
1922, Hershey, that went public in 1927, has remained the leader. As far as the lowest and highest
stock prices have gone in the past 52 weeks, Tootsie Roll's lowest share price was $58.67; while
Hershey's lowest share price came in at $29.25. Conversely, Tootsie Roll's highest stock price
topped out at $31.96, while Hershey peaked at $65.19 a share.
Company Financial Information
The Hershey Company and Tootsie Roll Industries are two main confectionery companies. The
Hershey Company makes many different products, including chocolate bars, Jolly Ranchers®,
Reese's Peanut Butter Cups®, etc. Tootsie Roll Industries also has many different products,
including, Tootsie Rolls®, Tootsie Pops®, Junior Mints, Sugar Daddys, and so forth. The "Tootsie
Roll Industry is the largest lollipop producer in the world" (Hoovers, 2005, para. 1). Amongst all the
confectionery companies nationwide, The

Hershey Foods vs. Tootsie Rolls
Investment:
Heshery Foods versus Tootsie Rolls Financial Comparison A comparison of 2004 Hershey's and
Tootsie Roll, questions needed to determine which company is better off: Are the company's
operations profitable?
To consider this I will be looking at the Income Statement. If the company's revenue exceeds its
expenses it will report net income or will report a net loss. This will report on the success or failure
of the company's operation by reporting its revenue and expenses.
Hershey Foods reports a net income of $590,879 and Tootsie Roll Industries report a net income of
$64,174. Overall, both company's report a net gain. However, Hershey Foods net income is larger
than that of Tootsie Roll Industries by $526,705. Does the ... Show more content on Helpwriting.net
...
A higher value suggests favorable return on each dollar of sales.
Hershey Foods profit margin ratio 13.3% represents a low favorable return on each dollar of sales.
As for Tootsie Roll Industries the ratio is 15.3% which is low. However, Hershey Foods ratio is less
favorable than Tootsie Roll Industries. How long is an item in inventory?
To consider this we need cost of goods sold; beginning and ending inventory. The higher the ratio or
lower average days in inventory suggest that management is reducing the amount of inventory on
relative to sales.
Hershey Foods inventory ratio is 4.80 and days in inventory are 76 days. As for Tootsie Roll
Industries the inventory ratio 4.5 and days in inventory is 81 days. Both represents that management
is not reducing the amount of inventory compare to sales. Overall, Hershey Foods is better of then
Tootsie Roll. Are collections being made in time fashion?
To consider this we need net credit sales and average receivable balance. This ratio indicates
average collection period should be consistent with corporate credit policy. An increase suggests a
decline in financial health of customers.
Hershey Food Receivable turnover ratio is 10.8 and average collection period is 33.8. As for Tootsie
Roll the ratio is 10.8 and average collection period is 33.8. Overall, both companies have low ratios
which indicate there is no decline in financial health of customers. Is the company using its assets
effectively?
To consider

Financial Analysis: Hershey Corp. & Tootsie Roll...
Financial Analysis: Hershey Corp. & Tootsie Roll Industries
Financial Analysis: Hershey Corp. & Tootsie Roll Industries
Hershey and Tootsie Roll are both companies in the confection industry. We compared both
companies for the years 2004, 2005, and 2006 against each other and against the industry averages
in order to make a decision about which company we would choose to invest in. The comparisons
we used to make our decision were ratios for liquidity, solvency, and profitability. As a result of our
analyses, we have chosen the Hershey Company.
Liquidity
Liquidity ratios "measure short–term ability of the company to pay its maturing obligations and to
meet unexpected needs for cash" (Kimmel Weygandt, & Kieso, 2007, p. 74). The ... Show more
Inventory Turnover
The inventory turnover ratio "measures the number of times on average the inventory sold during
the period; computed by dividing cost of goods sold by the average inventory during the period"
(Kimmel et al, 2007, p. 292). This indicates how quickly a company sells its goods and a high ratio
"suggests that management is reducing the amount of inventory on hand, relative to sales" (Kimmel
et al, 2007, p. 287).
Hershey declined in all three years from 5.0907 in 2004 to 4.8872 in 2006. However, Tootsie Roll
increased from 4.6632 in 2004 to 5.2191 in 2006. Both companies are above the industry average of
4.2. We have concluded that Tootsie Roll has a higher inventory turnover rate than Hershey. In
addition, Tootsie Roll is reducing the amount of inventory on hand, relative to sales.
Days in Inventory (Average Age of Inventory)
Days in inventory is a "measure of the average number of days inventory is held; calculated by
dividing 365 by inventory turnover ratio" (Kimmel et al, 2007, p. 292).
Hershey increased over all three years from 71.6994 days in 2004 to 74.6856 days in 2006. Tootsie
Roll declined from 78.2717 days in 2004 to 69.9356 days in 2006. Both companies are above the
industry average of 52 days. However, we have concluded that Tootsie Roll is reducing

Sharon's Lollipops Business Plan
Sales Presentation
Our product is known as Sharon's Lollies (lollipops). We have a variety of different lollipops all
with their own multitude of flavors. Our prospecting methods are cold calling, direct mail, & using
our business website. Sharon's Lollies is the only lollipop manufacturing/distributing company in
American Samoa. It is fairly new and very promising. This sales call is an initial sales call to try and
start multiple business relationships with different retailers and wholesalers who are interested in
selling lollipops.
Customer Profile And Planning Sheet:
1. Shalhout & Sons Retail
P.O. Box 4761
Pago Pago, AS 96799 www.shalhoutretail.com Business Type: Retail
Buyer: Mr. Said Shalhout (Owner)
2. TMC Wholesale ... Show more content on Helpwriting.net ...
Our only problem is if the US goes into an even further financial slump we could be broke.
Product
Lollipops are basically and most importantly just hard candies with a small stick in it. The tightly
wrapped white paper stick is a handle, and the hard candy lollipops are either sucked or bitten apart
until eaten. Lollipops can come in all different sorts of shapes, colors, and sizes. From the "Tootsie
Pops" to the "Dum Dum" lollipops, there are so many different types of lollipops. Even though
lollipops come in different sizes and each lollipop seems different from the others, the lollipop is
basically made by corn syrup, sugar, flavorings and water.
Features and Benefits
Sharon's Lollies have a random assortment of lollipops. They have regular flavored lollipops
(flavors include cherry, watermelon, grape, blueberry, green apple, etc.). Another type of lollipop
manufactured/distributed by our company is the "Gummy Pop", a lollipop with a piece of gum in
the center of it, in a variety of flavors (such as, cherry, watermelon, etc.). We also have "Choco
Pops" and "Rocket Launchers". "Choco Pops" are basically self–explanatory, a lollipop with a
chocolate center (this lollipop also has multiple flavors such as raspberry, orange, etc.). "Rocket
Launchers" are Lollipops that are not circular but long and twisted to resemble a small little
firecracker of some sort. Rocket

Tootsie Roll Industries Inc: Proposal to Increase Borrowing
Tootsie Roll Industries Inc. – Part of a Proposal to Increase Borrowing 1. Introduction Tootsie Roll
Industries Inc., wish to increase their production capacity and improve efficiency. As the company
wishes to take pout a plan which will increase total liabilities by 10%, if there are total liabilities of
$174,495, the plan is to raise a further $17,445. To undertake this strategy it is necessary to
demonstrate that the firm can afford to increase their debt. The first stage is to look at the financials
with the use of a ratio analysis to assess whether the debt is affordable. 2. Ratio Analysis To assess
the affordability in the short and the long term liquidity, solvency and probability all need to be
assessed. 2.1 Liquidity Liquidity is important for any firm as it is an assessment of the ability to pay
its' liabilities in the short term. There are two main liquidity ratios: the current and the quick ratio.
The current ratios divides the current assets by the current liabilities to assess how many times the
current assets can pay the current liabilities (Elliott and Elliott, 2011). Traditional ratios are usually
in the region of 1.5, but this may vary depending on the industry and nature of the business (Elliott
and Elliott, 2011). The current ratio is shown in table 1. Table SEQ Table * ARABIC 1; Current
ratio Current ratio 2006 2007 Current assets (a) 190,917 199,726 Current liabilities (b) 62,211
57,972 Ratio (a/b) 3.07 3.45 Current

Tootsie Roll Annual Report
Tootsie Roll
Industries, Inc.
Annual Report 2009
Corporate Profile
Tootsie Roll Industries, Inc. has been engaged in the manufacture and sale of confectionery products
for 113 years. Our products are primarily sold under the familiar brand names: Tootsie Roll, Tootsie
Roll Pops, Caramel Apple Pops, Child's Play, Charms, Blow Pop, Blue Razz, Cella's chocolate
covered cherries, Tootsie Dots, Tootsie Crows, Junior Mints, Junior Caramels, Charleston Chew,
Sugar Daddy, Sugar Babies, Andes, Fluffy Stuff cotton candy, Dubble Bubble, Razzles, Cry Baby,
Nik–L–Nip and EI Bubble.
Ellen R. Gordon, President and Chief Operating Officer and Melvin J. Gordon, Chairman and Chief
Executive Officer.
Corporate Principles
We believe that the ... Show more content on Helpwriting.net ...
Retailers are highly selective as to the products they carry and consumers have many choices in the
candy isle. We find that emphasizing high sell–through and attractive profit margins to the trade and
high quality at an attractive value to the consumer is a winning strategy. Our diverse and highly
recognizable brand portfolio remains popular across all trade channels. We have a range of offerings
suitable for virtually every major consumer group. Our product line undergoes continual refinement
in order to retain its appeal to ever–evolving preferences and life styles. The candy marketplace is
highly competitive and we are vigilant in keeping our products contemporary even as they remain
iconic. Halloween has long been our largest selling period with third quarter sales nearly double
those of any other quarter in the year. We posted strong results in all major trade classes including
grocery, mass merchandisers, warehouse clubs, dollar stores and drug chains. Especially popular at
Halloween are our large bags of Child's Play and other mixed candy assortments, which are offered
in a variety of merchandising presentations. Our bagged goods have traditionally been limited to
"lay down" format that is commonly found on retailer's shelves. In addition to "lay down" bags, in
2009 we introduced a number of packs in a "vertical" format. These gusseted bags really
Financial Highlights

December 31, 2009 2008
(in thousands except

Tootsie Roll Swot Analysis
Strategic Audit: Part One
Tootsie Roll Industries Inc. (NYSE: TR)
Internal
1. Company Overview
Tootsie Roll Industries is a confectionery manufacturer headquartered in Chicago, Illinois. It
operates seven production facilities – four in the United States, and a single one in Canada, Mexico,
and Spain respectively. Its distribution channels span across 75 countries and approximately 92% of
the sales are based in the United States.2 Be,yond of the namesake, Tootsie Roll Industries holds
over 20 brands of candy. These confections include chocolates, lollipops, cotton candy, gum, and
caramel. The non–chocolate products account for about 70% of the total company revenue. The
major buyers of these products are confectionary wholesalers and grocery ... Show more content on
Helpwriting.net ...
9 This document mentions relatively little outside of avoiding illegal actions, and says nothing of the
environment or ethical questions like child labor. Tootsie Roll holds a Corporate Sustainability
Rating of 50 out of 100 via CSRHUB,10 and has steadily stayed within this range. With the private
nature of the company and the lack of public information paints Tootsie Roll Industries as a neutral
company. Glassdoor currently gives the company a rating of 3/5 across only 16 review with only
33% of employees recommending employment at Tootsie Roll to a friend and many of the reviews
note low employee engagement and lack of advancement opportunities.11

A Morsel Of Chocolate Through American History
A Morsel of Chocolate Through American History Specific Purpose: To inform my audience how
chocolate has been a part of American History. Central Idea: Chocolate has been a part of the United
States' history from the country's earliest begins, through its expansion and growth, to the modern
day America. Introduction: In 2013, the US chocolate sales topped $17 billion dollars. It should not
be a surprise that chocolate is a snack that is consumed by a majority of Americans. Chocolate has
been a part of our history since America's birth. From the early settlers of America to the space
traveling US astronauts, chocolate has been a part of American history. Tonight we will trace how
chocolate has been with our country from the earliest beginnings, during the great times for growth
and prospering to the difficult times of war and the Great Depression, to the 21st century.
(Transition: Looking back to early America, chocolate was a staple.) Early America Colonial Times
1620 After explorers Columbus and Cortez traveled to the Americas in the late 1400s, they returned
to Europe with ships full of a variety of trade goods, including some cacao beans. A 1000 years later,
when European settlers returned to America to set up colonies they brought chocolate with them. At
this time the drink was made with chocolate solids, some sugar and warm water. In Europe this
somewhat bitter drink was expensive and just for the upper class and royalty. In colonial
America,this

Tootsie Roll Industries, Inc. Essay
Tootsie Roll Industries, Inc. has been successful in the manufacturing and sales of confectionery
products since the year 1896. We maintain a diverse and notably recognizable brand portfolio that
remains popular across all trade channels. We continue to maintain a conservative financial posture
in the deployment and management of our assets. One of our company 's priorities is to keep the
production and distribution facilities as efficient as possible, support evolving distribution patterns,
improve quality and promote growing product lines. Moving forward, Tootsie Roll Industries, Inc.
seeks to establish further itself as an industry leader and maintain its high level of satisfaction to its
customers. Securing a loan would help to ensure goals are met and even exceeded. We have
prepared a detailed package to ensure that all requirements are met to your satisfaction, to help
ensure the securing of a loan. Ratio Analysis of Financial Statements Tootsie Roll Industries Inc.
uses financial ratios as an effective planning management to remain sustainable and competitive.
The three sections of ratios are liquidity, solvency, and profitability. Liquidity ratios measure Tootsie
Rolls capability to pay off its short–term debt by using assets that it could sell if needed. Solvency
ratios measure the businesses ability to stay in the black and are in good standing with creditors.
Profitability ratios measure performance and the company 's ability to make a profit. All three ratio

Financial Analysis of Hershey Corporation Essay example
INTRODUCTION The Hershey Company is North America's largest manufacturer of quality
chocolate and sugar confectionary products. They produce and sell a wide variety of confections
from the familiar favorites such as Hershey's, Reese's, and Hershey Kisses to the Ice Breaker line of
gums and mints. They have also emerged as the forerunner in the dark and premium chocolate
category (http://www.thehersheycompany.com/). This paper will discuss the history of The Hershey
Company, general facts and information pertaining to operations as well as industry statistics
including trends and key competitors. Furthermore, this paper will examine the financial position of
The Hershey Company, through use of ratio analyses and forecasting models in ... Show more
When combined the international operations share most of the aggregation criteria and represent less
than 10% of consolidated revenues, operating profits and assets. Industry Overview The
confectionery industry while having some difficulty with consumer demands concerning health
seems to be a quite lucrative industry. The food and beverage industry as a whole sustained sales
and profitable growth due to improved efficiencies and new and innovative product lines. The major
problem in the food and beverage industry continues to be the rising costs of raw materials and the
uncertainty of being able to increase the price of their products (MergentOnline.com). The Hershey
Company and other chocolate confectioners are worried with civil unrest in the world's largest
cocoa– producing country, The Ivory Coast, where prices have remained volatile. During 2006,
cocoa prices traded between .67 and .75 per pound, based on the New York Board of Trade futures
contract (The Hershey Company Annual Report). As mentioned earlier, health conscience
consumers also play a huge part in the success or failure of this industry. Although the majority of
consumers are still purchasing junk food and the like, there are a growing number of consumers that
demand a healthier option. Several companies including The Hershey Company, M&M Mars, and
Nestle have begun to provide a spectrum of healthier products. According to The Washington Times,
companies are

Examples Of Amy Chang's Personal Income Statement
Your Personal Income Statement Before looking at Tootsie Roll's Income Statement, create your
own personal income statement using your monthly income and expenses. You will want to collect
your monthly net pay (less taxes) from your employer. Also, collect your monthly bills. This will
include your car payment, mortgage or rent payment, cell phone bill, gas and electric bill, food,
clothes, and entertainment. Illustration 3 below creates an income statement for Amy Chang.
Illustration 3: Amy Chang's Personal Income StatementAmy Chang's Personal Income Statement In
Amy's example, she has a profit or cash surplus of $75 per month. As we look at Tootsie Roll's
income statement in Illustration 5, the company is doing the same exercise that we

Acc/561 Wk3 Tootsie Roll Industries Inc. Loan Package
Tootsie Roll Industries Inc. Loan Package ACC/561 – Accounting August 15, 2011 Tootsie Roll
Industries Inc. Loan Package Since the company's establishment in 1896, Tootsie Roll Industries
Inc. has expanded to become one of the biggest candy companies in the United States. Tootsie Roll
Industries Inc. is one of America's most recognized candy companies through manufacturing and
selling some of the most popular candies in the world. The company has an extensive amount of
products sold in many venues including grocery stores, vending machines, and drugstores. Tootsie
Roll Industries Inc. applies innovation consistently by developing new forms of presentation and
creating more options for the consumer. In the first quarter of 2011 ... Show more content on
Helpwriting.net ...
Tootsie Roll Industries Inc. expects this project to increase profits by selling more to the consumer,
cutting distribution costs through shorter shipping routes, and creating a faster connection to
consumers in the surrounding region. The company will reduce its risk of unforeseen circumstances,
such as a natural disaster, halting operations if a distribution center were affected because it would
have the option to reroute operations through another facility. Tootsie Roll Industries Inc.'s products
will be made available in more locations and will increase consumer awareness of the many
products the company offers. With the projected increased revenue this distribution center will bring
Tootsie Roll Industries, Inc. will be able to pay the loan back in three years rather than the
traditional five years. Uses of Loan Proceeds and Effects on Company Taking on this loan will
increase liabilities by 10%. Obviously, Tootsie Roll Industries, Inc. must have a plan to use the
proceeds of this loan. The biggest portion of proceeds from this loan will be used for investing in
new equipment. As stated in the corporate principles, "we invest in the latest and most productive
equipment to deliver the best quality product to our customers at the lowest cost" (Kimmel, 2009).
In addition, Tootsie Roll will use the proceeds to expand on the distribution center so the company
can keep up with demand

Financial Statement Analysis for Tootsie Roll and Hershey
The Hershey Company engages in the manufacture, marketing, distribution, and sale of various
types of chocolate and confectionery, refreshment and snack products, and food and beverage
enhancers in the United States and internationally. The Hershey Company sells its products through
sales representatives and food brokers, primarily to wholesale distributors, chain grocery stores,
mass merchandisers, chain drug stores, vending companies, wholesale clubs, convenience stores,
dollar stores, concessionaires, department stores, and natural food stores. The company was founded
in 1894 and is based in Hershey, Pennsylvania. The Hershey Company went public on the New York
Stock Exchange (NYSE) in 1922 (http://finance.yahoo.com/q/pr?s=HSY). ... Show more content on
Helpwriting.net ...
I could not locate an industry average against which to compare both companies. 3) Accounts
Receivable Turnover Ratio is "a measure of the liquidity of receivables, computed by dividing net
credit sales by average net receivables" (Kimmel Weygandt, & Kieso, 2007, p. 396). A high ratio
indicates a tight credit policy. A low or declining ratio indicates a collection problem, part of which
may be due to bad debts. Hershey declined from 11.25 in 2002 to 10.72 in 2003 and 10.85 in 2004,
which is below the industry average of 11.8 for all three years. Tootsie declined from 15.57 in 2002
and 16.37 in 2003 to 14.32 in 2004; however still remains far above the industry average. Therefore,
I make a conclusion that Tootsie Roll collects its accounts in a more timely fashion than Hershey
does. 4) Average Collection Period is "the average amount of time that a receivable is outstanding,
calculated by dividing 365 days by the receivables turnover ratio" (Kimmel Weygandt, & Kieso,
2007, p. 396). It is used to assess the effectiveness of a company's credit and collection policies. An
increase in collection period may be an indication of a decline in financial health of customers.
Hershey's collection period increased 32.45 in 2002 to 34.05 in 2003 and then decreased to 33.64
days in 2004. Tootsie Roll increased from 23.44 in 2002 and 22.29 in 2003 to 25.48 days in 2004. I
could not locate an industry average against which to compare both companies. Even thought both

Tootsie Roll Industries Loan Package
Tootsie Roll Industries Loan Package Tootsie Roll Industries is one of America's most recognized
confectionary companies and has been in business for more than 111 years, manufacturing and
selling some of the most popular candies in the world. Tootsie Roll wants to secure a loan that will
help increase the company's total liabilities by 10% in the tune of $2.5 million. This loan package is
attached to an updated business plan that provides the lender with the company's history, a vision
statement, its market, products, services, management, how the loan will impact the business, and
the method of repayment. This paper will detail different ratio analyses, loan justification, and how
the company plans to use the proceeds. Solvency Ratios ... Show more content on Helpwriting.net ...
This means that for every dollar of liabilities, Tootsie Roll Company has $3.50 or $3.10 in current
assets. In both instances, the current ratio is more than 1, so the company will have very little
trouble with liquidity should the need arise. Current Ratio = (Current Assets) / Current Liabilities
2007: 199726/57972 = 3.445 = 3.45 = 3.45:1 2006: 190917/62211 = 3.068 = 3.1 = 3.1:1 The current
cash debt ratio only measures the ability of a firm 's cash, along with investments easily converted
into cash, to pay its short–term obligations. In 2007, the company has a current cash debt ratio
greater than 1 and is in better financial shape than in 2006, when the ratio was less than 1. Cash
Ratio = (Cash Operations) / (Average Current Liabilities) 2007: 90064/57972 = 1.55 2006:
55656/62211 = 0.89 Loan Justification Tootsie Roll Industries is financially strong and with this
loan plans to expand its brand, and reach a larger customer base. Tootsie Roll Industries plans to
create new flavors that will set the company aside from competitors and increase its market share.
The loan will allow the company to research, develop, successfully market, and launch new candies.
Specifically, we plan to expand the 'Healthy Living' section of our company where candies are
gluten–free, fat–free, peanut–free, and nut–free. Research has shown that food allergies are on the
rise

Essay On Tootsie Roll
The company that I chose to analyze is Tootsie Roll. Throughout my life I have always had
somewhat of a sweet tooth and have been very intrigued in the process of business. Now I have the
opportunity to look further into such a great company such as Tootsie Roll and really find out how
the business is run and what type of work is invested in such a well known business. The ticker
symbol for the Tootsie Roll Company is quite simple by using just two letters, TR. With this symbol
it is easy to find different information regarding the company's stock exchange and other finances.
The stock exchange in which Tootsie Rolls shares are listed is the New York Stock Exchange
(NYSE). According to Yahoo Finance, the current share price for common ... Show more content on
Helpwriting.net ...
Tootsie Roll's highest selling period was Halloween (which is common for most candy
manufacturers) and focused on promotional programs to target consumers. Also, they changed up
their packaging to adapt to the trends of the consumers and catch their eyes. I have reviewed the past
two years liabilities and stockholders' equity sections of Tootsie Roll Industries, Inc. and compared
the balance sheets using Debt to Equity Ratio and Times Interest Earned. The calculations presented
in thousands: The statement of cash flows breaks down the cash exchange of the long term debt for
the past two years. Under the Financing Activities portion of the cash flows statement it shows the
long term debt broken down intoproceeds from and repayment of bank loans. The calculations of the
changes in the past two years are expressed below in thousands: Repayment of bank loan: (38,001)
(98,400) –61.4 % (decrease) The footnotes described the interest rates that wereissued and also that
"All bank loans outstanding at December 15, 2005 were paid in 2006", which can be found under
Note 3 – Bank Loan and Industrial Development Bonds. Tootsie Roll hastwo classes of common
stock; Common Stock and Class B Common Stock. According to the footnotes under Note 2:
Earnings per share, a brief description of

Tootsie Roll Industry Analysis
TOOTSIE ROLL INDUSTRIES Introduction Tootsie Roll Industries is an American manufacturer
of confectionery products. The company's history date back to 1896 when Leo Hirschfield began
making and selling individually wrapped, chocolate flavored candy named after his daughter
"Tootsie". The product became an instant success and demand quickly exceeded supply. To increase
output, Hirschfield merged operations with local candy manufacturer Stern & Staalberg (1). In 1917,
the company changed its name to The Sweets Company of America and began advertising
nationally. In 1966, the company's name changed again to what it is known by today, Tootsie Roll
Industries. (2) The Tootsie Roll empire continues to expand. With its ... Show more content on
Helpwriting.net ...
Although the company did show an increased gross profit of $8,255,000 with $6,358,000 less Net
Sales in 2013 versus 2012, that increase is due to the reduction in product Cost of Goods Sold by
$14,613,000. Since increases in product price will negatively affect sales, one of management's
primary goals is to keep prices stable. This objective is achieved through implementation of cost
cutting programs, investing in more efficient equipment, and automation of more steps in the
production process. Seasonality has a major impact on Tootsie Roll Industries in terms of sales
volume. Its most profitable seasons are the summer movie season, followed by the holiday season.
Conversely, the company is least profitable outside these periods. Tootsie Roll's products are sold at
many movie theaters throughout North America. During the summer, when box office sales are the
highest historically, Tootsie Roll's sales enjoy an added boost (12). Increased profit during the
holiday season is driven by strong sales of specially packaged items designed for Halloween and

Tootsie Roll Industries, Inc.
Tootsie Roll Industries, Inc.
Introduction
Tootsie Roll Industries is a public traded company; traded on the NYSE. It is noted as the symbol of
TR. In the first quarter of 2014, the share price was $28.29 with a range of low price $27.75 and
high price of $34.22 for 2013. This shows an approximate range of $6.47. For fiscal year ended
December 31, 2013, dividend per share increased from $0.15 to $0.32 with 36.76 (in millions)
shares unsettled. (Kesling 2013)
T.R. have been involved in the production and sale of confectionery products for over 100 years.
Leo Hirshfield founded T.R. in 1896 and its headquarters are currently located in Chicago, Illinois.
The majority of the Tootsie Roll Industries products are sold under registered trademarks that
include: Tootsie Roll, Tootsie Roll Pops, Child's Play, Caramel Apple Pops, Charms, Blow–Pop,
Charms Mini Pops, Cella's, Mason Dots, Mason Crows, Junior Mints, Charleston Chew, Sugar
Daddy, Sugar Babies, Andes, Fluffy Stuff, Dubble Bubble, Razzles, Cry Baby and Nik–L–Nip.
These products are sold through roughly 30 candy and grocery store dealers and by T.R. itself to
approximately 4,000 customers throughout the U.S. Tootsie Roll Industries customers include:
wholesale distributors of candy and grocery stores, supermarkets, warehouse and membership club
stores, vending machine operators, the United States military, and fund–raising charitable
organizations. (Orthodox Union 2009)
Tootsie Roll Industries principal markets are in the

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