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The following statement of financial position and statement of comprehensive income should be used. Woodburn, Inc. 2018 Statement of comprehensive income ($ in thousands) Net

The following statement of financial position and statement of comprehensive income should be used.

Woodburn, Inc.

2018 Statement of comprehensive income

($ in thousands)

Net Sales $6,380

Less: Cost of Goods Sold 4,120

Less: Depreciation 360

Earnings Before Interest and Taxes 1,900

Less: Interest Paid 45

Taxable Income 1,855

Less: Taxes 650

Net Income 1,205

Woodburn, Inc.

Statement of financial position

Years ended 2017 and 2018

($ in thousands) 2017 2018 2017 2018

Cash $230 $340

Accounts payable $850 1,020

Accounts rec. 910 950

Long-term debt 1,650 1,400

Inventory 1,490 1,460

Common stock 2,500 2,200

Total 2,630 $2,750

Retained earnings 820 1,350

Net fixed assets 3,190 3,220

Total assets $5,820 $5,970

Total liabilities & equity $5,820 $5,970

How many dollars of sales are being generated by every $1 that Woodburn has in total assets($ in thousands)? (Use 2018 assets)

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