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Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,170 Cost of goods sold 4,590 Depreciation 395 Earnings before interest and taxes $
| Bayside, Inc. 2017 Income Statement ($ in thousands) | |||
| Net sales | $ | 6,170 | |
| Cost of goods sold | 4,590 | ||
| Depreciation | 395 | ||
| Earnings before interest and taxes | $ | 1,185 | |
| Interest paid | 44 | ||
| Taxable income | $ | 1,141 | |
| Taxes | 399 | ||
| Net income | $ | 742 | |
| Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) | |||||||||||||
| 2016 | 2017 | 2016 | 2017 | ||||||||||
| Cash | $ | 145 | $ | 250 | Accounts payable | $ | 1,710 | $ | 1,770 | ||||
| Accounts rec. | 1,130 | 970 | Long-term debt | 880 | 680 | ||||||||
| Inventory | 1,805 | 2,130 | Common stock | 3,380 | 3,350 | ||||||||
| Total | $ | 3,080 | $ | 3,350 | Retained earnings | 950 | 1,200 | ||||||
| Net fixed assets | 3,840 | 3,650 | |||||||||||
| Total assets | $ | 6,920 | $ | 7,000 | Total liab. & equity | $ | 6,920 | $ | 7,000 | ||||
How many dollars of sales were generated from every dollar of fixed assets during 2017?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
