Question
Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands)Net sales$6,090Cost of goods sold4,450Depreciation425Earnings before interest and taxes$1,215Interest paid32Taxable
Use the following information to answer this question.
Bayside, Inc.
2017 Income Statement
($ in thousands)Net sales$6,090Cost of goods sold4,450Depreciation425Earnings before interest and taxes$1,215Interest paid32Taxable income$1,183Taxes355Net income$828
Bayside, Inc.
2016 and 2017 Balance Sheets
($ in thousands)2016201720162017Cash$140$245Accounts payable$1,705$1,685Accounts rec.1,090930Long-term debt860660Inventory1,8052,090Common stock3,3403,330Total$3,035$3,265Retained earnings9301,180Net fixed assets3,8003,590Total assets$6,835$6,855Total liab. & equity$6,835$6,855
What is the return on equity for 2017?
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International Financial Management
Authors: Geert Bekaert, Robert J. Hodrick
2nd edition
013299755X, 132162768, 9780132997553, 978-0132162760
