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Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,220 Cost of goods sold 4,540
Use the following information to answer this question.
Bayside, Inc. 2017 Income Statement ($ in thousands) | |||
Net sales | $ | 6,220 | |
Cost of goods sold | 4,540 | ||
Depreciation | 390 | ||
Earnings before interest and taxes | $ | 1,290 | |
Interest paid | 42 | ||
Taxable income | $ | 1,248 | |
Taxes | 437 | ||
Net income | $ | 811 | |
Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 140 | $ | 245 | Accounts payable | $ | 1,685 | $ | 1,735 | ||||
Accounts rec. | 1,110 | 950 | Long-term debt | 870 | 670 | ||||||||
Inventory | 1,785 | 2,120 | Common stock | 3,360 | 3,340 | ||||||||
Total | $ | 3,035 | $ | 3,315 | Retained earnings | 940 | 1,190 | ||||||
Net fixed assets | 3,820 | 3,620 | |||||||||||
Total assets | $ | 6,855 | $ | 6,935 | Total liab. & equity | $ | 6,855 | $ | 6,935 | ||||
How many dollars of sales were generated from every dollar of fixed assets during 2017?
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