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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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