Bayside Inc. 2011 Income Statement (S in thousands) Net sales Less: Cost of goods sold Less: Depreciation Earnings before interest and taxes Less: Interest paid Taxable Income Less: Taxes Net income $5,680 4,060 420 1,200 30 $1,170 410 $760 Cash Accounts rec. Inventory Total Net fixed assets Total assets Bayside, Inc. 2010 and 2011 Balance Sheets (S in thousands) 2010 2011 $ 70 $ 180 Accounts payable 980 840 Long-term debt 1.560 1,990 Common stock $2,610 $3,010 Retained earnings 3,600 3,360 S6,210 S6,370 Total liabilities & equity 2010 2011 $1,350 $1,170 720 500 3,200 3,500 940 1.200 S6,210 $6,370 Question 12 1 pts What is the return on equity for 2011? 16.2% 20.9% 21.7% 22.1% 23.3%