Refer to the financial statements and notes of Tootsie Roll Industries Inc. Research and answer the following questions about Tootsie Roll Industries Inc. Present your findings using complete sentences and paragraph format.
- Which method of reporting cash flows from operations does the company use?
- Compare the net cash provided/used from operations to the net income amount on the income statement for all of the years presented in the annual report. Are these two numbers trending in the same direction? What is the largest adjustment item in the cash flows from operations?
- What has created the largest inflow and outflow of cash for investing activities? Did investing activities provide or use cash for each of the years presented?
- Did the financing activities provide or use cash in each of the years presented? What are the stock repurchase and dividend trends of your chosen company?
- Does the cash provided by operations cover the investing activities? Financing activities?