Refer to the financial statements of Tootsie Roll Industries and the Notes to
Consolidated Financial Statements in Appendix A.
Answer the following questions.
(a) What were Tootsie Roll's total current liabilities at December 31, 2004? What was the
increase/decrease in Tootsie Roll's total current liabilities from the prior year?
(b) How much were the accounts payable at December 31, 2004?
(c) What were the components of total current liabilities on December 31, 2004 (other
than accounts payable already discussed above)?
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Below are my answers.
Current liabilities, December 31, 2004 = $82,317 thousand ...
Financial statements of Tootsie Roll Industries are examined.