ACC561 ACC/561 Week3 Learning Team Tootsie Roll Industries Inc. Loan Package - 19474

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Resource: Accounting

 

Read the financial statement for Tootsie Roll Industries Inc. in Appendix A of Accounting.

 

Conduct an Internet search information on how to assemble a loan package by researching loan package requirements at The U.S. Small Business Administration website (http://www.sba.gov/) or on other websites, such as the SCORE website (http://www.score.org/). Research the specific loan package requirements of creditors, such as American Express, by reviewing their websites.

 

Prepare a loan package of 1,100- 1,250 words to secure a loan for Tootsie Roll Industries Inc. that would increase the company’s total liabilities by 10%. Your loan package should include the following:

 

  • A ratio analysis of the financial statements for Tootsie Roll Industries Inc., including several types of liquidity, solvency, and profitability ratios and an explanation of each ratio

 

  • A justification of the reason the company needs this loan; the purpose might be for expansion, inventory purchases, debt retirement, and so on

 

  • An explanation of how the company plans use the proceeds from the loan and of how loan approval might affect the company

 

Cite your sources consistent with APA guidelines.

Solution Description

Tootsie Roll is one of the most famous candy brands in America. “Tootsie Roll Industries, Inc. has been engaged in the manufacture and sale of confectionery products for 111 years” (Kimmel, Weygandt, Kieso, 2009, p. A-2). “Beginning in a modest New York candy store with the Tootsie Roll'

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