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Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 5,970 Cost of goods sold 4,320
Use the following information to answer this question.
Bayside, Inc. 2017 Income Statement ($ in thousands) | |||
Net sales | $ | 5,970 | |
Cost of goods sold | 4,320 | ||
Depreciation | 340 | ||
Earnings before interest and taxes | $ | 1,310 | |
Interest paid | 33 | ||
Taxable income | $ | 1,277 | |
Taxes | 447 | ||
Net income | $ | 830 | |
Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 90 | $ | 195 | Accounts payable | $ | 1,480 | $ | 1,455 | ||||
Accounts rec. | 980 | 820 | Long-term debt | 770 | 570 | ||||||||
Inventory | 1,585 | 2,020 | Common stock | 3,205 | 3,240 | ||||||||
Total | $ | 2,655 | $ | 3,035 | Retained earnings | 840 | 1,090 | ||||||
Net fixed assets | 3,640 | 3,320 | |||||||||||
Total assets | $ | 6,295 | $ | 6,355 | Total liab. & equity | $ | 6,295 | $ | 6,355 | ||||
How many dollars of sales were generated from every dollar of fixed assets during 2017?
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