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    Financial statements of Tootsie Roll Industries

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    Refer to the financial statements of Tootsie Roll Industries and the Notes to
    Consolidated Financial Statements in Appendix A.
    Instructions
    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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    Solution Preview

    Dear Student,

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    Below are my answers.

    ANSWERS

    Question A
    Current liabilities, December 31, 2004 = $82,317 thousand ...

    Solution Summary

    Financial statements of Tootsie Roll Industries are examined.

    $2.19