Question: Bayside, Incorporated 2 0 2 4 Income Statement ( $ in thousands ) Net sales$ 6 , 1 2 0 Cost of goods sold 4

Bayside, Incorporated2024 Income Statement($ in thousands)Net sales$ 6,120Cost of goods sold4,490Depreciation385Earnings before interest and taxes$ 1,245Interest paid40Taxable income$ 1,205Taxes253Net income$ 952
Bayside, Incorporated2023 and 2024 Balance Sheets($ in thousands)2023202420232024Cash$ 135$ 240Accounts payable$ 1,660$ 1,700Accounts received1,090930Long-term debt860660Inventory1,7652,110Common stock3,3403,330Total$ 2,990$ 3,280Retained earnings9301,180Net fixed assets3,8003,590Total assets$ 6,790$ 6,870Total liabilities & equity$ 6,790$ 6,870
How many dollars of sales were generated from every dollar of fixed assets during 2024?
Multiple Choice
$1.70
$1.61
$1.66
$.90
$.89

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!