The balance sheets for Tootsie Roll Industries Inc. are shown here.( Lo 3, 5)
|
Assets |
31-Dec-05 (in thousands) |
31-Dec-04 |
|
Cash |
$91,336 |
$56,989 |
|
Investments |
54892 |
32369 |
|
Receivables |
33624 |
37457 |
|
Inventory |
55032 |
58777 |
|
Other current assets |
11712 |
7101 |
|
Net property plant & equipment |
178760 |
178750 |
|
Other noncurrent assets |
388340 |
440310 |
|
Total assets |
$813,696 |
$811,753 |
|
Liabilities |
||
|
Bank loan (short-term) |
32001 |
6333 |
|
Accounts payable |
17482 |
19315 |
|
Dividends payable |
4263 |
3659 |
|
Accrued liabilities |
44969 |
44722 |
|
Income taxes payable |
14941 |
8288 |
|
Total current liabilities |
113656 |
82317 |
|
Noncurrent Liabilities |
82635 |
159257 |
|
Total liabilities |
196291 |
241574 |
|
Contributed capital |
463108 |
434047 |
|
Retained earnings |
164236 |
149055 |
|
Other shareholders equity accounts net* |
(9939) |
(12923) |
|
617405 |
570179 |
|
|
Total liabilities and shareholders equity |
$813,696 |
$811,753 |
*This is an item you will learn about in a later chapter.
Required
a. What were the total current assets at December 31, 2004? 2005?
b. How are the assets ordered on the balance sheet?
c. What were the total current liabilities at December 31,2004? 2005?
d. calculate the current ratio at December 31,2004 and December 31, 2005. what information do these numbers provide?