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Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold $ 6,120 4,490
Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales Cost of goods sold $ 6,120 4,490 385 Depreciation Earnings before interest and taxes $ 1,245 Interest paid 40 Taxable income $ 1,205 Taxes 253 Net income $952 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) 2021 Cash $135 $240 Accounts payable Accounts received 1,090 930 Long-term debt Inventory 1,765 2,110 Common stock Total Retained earnings $ 2,990 $ 3,280 3,800 Net fixed assets 3,590 Total assets $ 6,790 $ 6,870 Total liabilities & equity How many dollars of sales were generated from every dollar of fixed assets during 2021? 2020 2020 $ 1,660 860 3,340 930 $ 6,790 2021 $ 1,700 660 3,330 1,180 $ 6,870 Multiple Choice O $.89 O $.90 O $1.61 O $1.66 O $1.70
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