32 Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 5,990 Cost of goods sold 4,250 Depreciation 405 Earnings before interest and taxes $ 1,335 Interest paid Taxable income $ 1,303 Taxes 391 Net income $ 912 Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 120 $ 225 Accounts payable $ 1,605 $ 1,545 Accounts rec. 1,010 850 Long-term debt 820 620 Inventory 1,725 2,050 Common stock 3,260 3,290 Total $ 2,855 $ 3,125 Retained earnings 890 1,140 Net fixed assets 3,720 3,470 Total assets $ 6,575 $ 6,595 Total liab. & equity $ 6,575 $ 6,595 What is the return on equity for 2017? 21.98% 21.28% 13.83% 20.59% 29.41%