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Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before
Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes $6,020 4,290 365 $1,365 32 $1,333 467 Net income $ 866 Cash Accounts rec. Inventory Total Net fixed assets Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 $ 115 $ 220 Accounts payable 1,010 850 Long-term debt 1,685 2,070 Common stock $2,810 $3,140 Retained earnings 3,740 3, 470 $6,550 $6,610 Total liab. & equity 2016 2017 $1,580 $1,560 820 620 3,260 3,290 890 1,140 Total assets $6,550 $6,610 How many dollars of sales were generated from every dollar of fixed assets during 2017
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