Tootsie Roll Industries
Tootsie Roll Industries Inc. Loan Request Patricia Duncan, Sean Duncan, Heidi Oppegard, and Michelle Rodriguez Accounting ACC/561 January 7, 2012
Jared Jones
Tootsie Roll Industries Inc. Loan Request Tootsie Roll Industries is a confectionery products manufacturer that has been in business for 111 years. The company makes a variety of products including a) Tootsie Roll, b) Tootsie Roll Pops, c) Caramel Apple Pops, d) Charms, e) Blow Pops and a number of other sweet treats. The company believes in hiring and retaining quality personnel while maintaining a professional yet open family atmosphere. Tootsie Roll Industries is looking to expand the business; therefore, the business is requesting a loan to successfully implement the expansion. Discussed below is detailed information regarding Tootsie Roll Industries current financial position, how Tootsie Roll Industries plans to implement the funds from the loan, and how the funds will promote future company growth.
Financial Statement Summary….Michelle (~375 words) (due Jan 7th) A General financial statement summary is important when requesting a loan for expansion or any other reason like inventory purchases or debt retirement. The Tootsie Roll Company has four important financial statements that reflect important information in order to obtain their loan. Ahead I will explain the details relevant to the Tootsie Roll Company in relation to their revenues, retained earnings, cash inventories and cash flows. Each of these statements show important information and ahead I will point out certain numbers that are worth highlighting. Annexed at the end of this paper are the Tootsie Roll Statements.
One of the first statements that the Tootsie Roll Company will need to have evaluated is their Income Statement. This statement as we know reports the success or failure of a company’s operations for a period of time. Tootsie Roll’s income statement
Jared Jones
Tootsie Roll Industries Inc. Loan Request Tootsie Roll Industries is a confectionery products manufacturer that has been in business for 111 years. The company makes a variety of products including a) Tootsie Roll, b) Tootsie Roll Pops, c) Caramel Apple Pops, d) Charms, e) Blow Pops and a number of other sweet treats. The company believes in hiring and retaining quality personnel while maintaining a professional yet open family atmosphere. Tootsie Roll Industries is looking to expand the business; therefore, the business is requesting a loan to successfully implement the expansion. Discussed below is detailed information regarding Tootsie Roll Industries current financial position, how Tootsie Roll Industries plans to implement the funds from the loan, and how the funds will promote future company growth.
Financial Statement Summary….Michelle (~375 words) (due Jan 7th) A General financial statement summary is important when requesting a loan for expansion or any other reason like inventory purchases or debt retirement. The Tootsie Roll Company has four important financial statements that reflect important information in order to obtain their loan. Ahead I will explain the details relevant to the Tootsie Roll Company in relation to their revenues, retained earnings, cash inventories and cash flows. Each of these statements show important information and ahead I will point out certain numbers that are worth highlighting. Annexed at the end of this paper are the Tootsie Roll Statements.
One of the first statements that the Tootsie Roll Company will need to have evaluated is their Income Statement. This statement as we know reports the success or failure of a company’s operations for a period of time. Tootsie Roll’s income statement
References: Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2009). Accounting: Tools for business decision making (3rd ed.). Hoboken, NJ: John Wiley & Sons Appendix A