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Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,320 Cost of goods sold 4,740
Use the following information to answer this question.
Bayside, Inc. 2017 Income Statement ($ in thousands) | |||
Net sales | $ | 6,320 | |
Cost of goods sold | 4,740 | ||
Depreciation | 410 | ||
Earnings before interest and taxes | $ | 1,170 | |
Interest paid | 50 | ||
Taxable income | $ | 1,120 | |
Taxes | 392 | ||
Net income | $ | 728 | |
Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) | |||||||||||||
2016 | 2017 | 2016 | 2017 | ||||||||||
Cash | $ | 160 | $ | 265 | Accounts payable | $ | 1,785 | $ | 1,875 | ||||
Accounts rec. | 1,190 | 1,030 | Long-term debt | 910 | 710 | ||||||||
Inventory | 1,865 | 2,160 | Common stock | 3,440 | 3,380 | ||||||||
Total | $ | 3,215 | $ | 3,455 | Retained earnings | 980 | 1,230 | ||||||
Net fixed assets | 3,900 | 3,740 | |||||||||||
Total assets | $ | 7,115 | $ | 7,195 | Total liab. & equity | $ | 7,115 | $ | 7,195 | ||||
How many dollars of sales were generated from every dollar of fixed assets during 2017?
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