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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 $6,090 4,300 410 $1,380 34 $1,346 404 Taxes Net income $ 942 2017 Cash Accounts rec. Inventory Total Net fixed assets Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 $ 125 $ 230 Accounts payable 1,030 870 Long-term debt 1,745 2,060 Common stock $2,900 $3,160 Retained earnings 3,740 3,500 $6,640 $6,660 Total liab. & equity 2016 $1,630 $1,580 830 630 3,280 3,300 900 1,150 Total assets $6,640 $6,660 What is the return on equity for 2017? Multiple Choice 21.85% 21.17% 22.54% 30.25%
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