Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $6,140 Cost of goods sold Depreciation 4,400 420 Earnings before interest and taxes $1,320 Interest paid 30 Taxable income $1,290 Тахes 387 Net income $ 903 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 135 $ 240 Accounts payable $1,680 $1,650 Accounts rec. 1,070 910 Long-term debt 2,080 Common stock 850 650 Inventory 1,785 3,320 3,320 $2,990 $3,230 Retained earnings 3,780 Total 920 1,170 Net fixed assets 3,560 Total assets $6,770 $6,790 Total liab. & equity $6,770 $6,790 What is the return on equity for 2017?

Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $6,140 Cost of goods sold Depreciation 4,400 420 Earnings before interest and taxes $1,320 Interest paid 30 Taxable income $1,290 Тахes 387 Net income $ 903 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 135 $ 240 Accounts payable $1,680 $1,650 Accounts rec. 1,070 910 Long-term debt 2,080 Common stock 850 650 Inventory 1,785 3,320 3,320 $2,990 $3,230 Retained earnings 3,780 Total 920 1,170 Net fixed assets 3,560 Total assets $6,770 $6,790 Total liab. & equity $6,770 $6,790 What is the return on equity for 2017?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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