Question
Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands)Net sales$5,940Cost of goods sold4,190Depreciation355Earnings before interest and taxes$1,395Interest paid31Taxable
Use the following information to answer this question.
Bayside, Inc.
2017 Income Statement
($ in thousands)Net sales$5,940Cost of goods sold4,190Depreciation355Earnings before interest and taxes$1,395Interest paid31Taxable income$1,364Taxes409Net income$955
Bayside, Inc.
2016 and 2017 Balance Sheets
($ in thousands)2016201720162017Cash$110$215Accounts payable$1,555$1,475Accounts rec.970810Long-term debt800600Inventory1,6852,030Common stock3,2203,270Total$2,765$3,055Retained earnings8701,120Net fixed assets3,6803,410Total assets$6,445$6,465Total liab. & equity$6,445$6,465
What is the return on equity for 2017?
Multiple Choice
- 21.75%
- 22.55%
- 23.35%
- 14.77%
- 31.07%
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