Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 2016 2017 Cash $ 145 $ 250 Accounts payable $ 1715 $ 2130
Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 145 | $ | 250 | Accounts payable | $ | 1715 | $ | 2130 | ||||
Accounts rec. | 1130 | 970 | Long-term debt | 880 | 680 | ||||||||
Inventory | 1820 | 2140 | Common stock | 3380 | 3150 | ||||||||
Total | $ | 3095 | $ | 3360 | Retained earnings | 950 | 1200 | ||||||
Net fixed assets | 3830 | 3800 | |||||||||||
Total assets | $ | 6925 | $ | 7160 | Total liab. & equity | $ | 6925 | $ | 7160 |
What is the equity multiplier for 2017?
A. 2.16 times
B. 1.65 times
C. 1.00 times
D. 0.55 times
E. 2.27 times
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started