Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use the following information to answer this question, Bayside, Inc. 2010 Income Statement ($ in thousands) Net sales $ 5,790 Less: Cost of goods sold

image text in transcribed
Use the following information to answer this question, Bayside, Inc. 2010 Income Statement ($ in thousands) Net sales $ 5,790 Less: Cost of goods sold 4.150 Less: Depreciation 325 Earnings before interest and taxes $ 1,315 Less: Interest paid 27 Taxable income $ 1,288 Less: Taxes 3861 Net income $ 902 Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands) 2009 2010 2009 Cash $ 80 $ 185 Accounts payable $ 1,385 Accounts rec. 920 760 Long-term debt 740 Inventory 1.565 1,970 Common stock $ 3.190 Total $ 2,565 $ 2,915 Retained earnings 810 Net fixed assets 3,560 3,230 Total assets $ 6,125 $ 6,145 Total liab. & equity $ 6,125 What is the return on equity for 2010? 2010 $ 1,335 540 $ 3,210 1,060 $ 6.145 O 30.16 percent O 21.12 percent O 14.68 percent O 22.55 percent O 21.84 percent

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Liquidated An Ethnography Of Wall Street

Authors: Karen Ho

1st Edition

0822345994,0822391376

More Books

Students also viewed these Finance questions