3. Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales $ 6,190 Cost of goods sold 4,500 Depreciation 430 Earnings before $ interest and taxes 1,260 Interest paid 34 Taxable income $ 1,226 Taxes 257 Net income $ 969 Bayside, Incorporated 2020 and 2021 Balance Sheets. ($ in thousands) 2020 2021 2020 2021 Cash Accounts received $ 145 $ 250 Accounts payable $ $ 1,730 1,720 1,110 950 Long-term debt 870 670 Inventory 1,825 2,100 Common stock 3,360 3,340 Total Retained 940 1,190 3,080 3,300 earnings Net fixed assets 3,820 3,620 Total assets $ $ Total $ 6,900 6,920 liabilities & 6,900 6,920 equity What is the return on equity for 2021? Write down your calculation. (10%)