Use the following information to answer this question:

Bayside, Incorporated
2021 Income Statement
($ in thousands)
Net sales	$ 5,890
Cost of goods sold	4,090
Depreciation	345
Earnings before interest and taxes	$ 1,455
Interest paid	27
Taxable income	$ 1,428
Taxes	300
Net income	$ 1,128

Bayside, Incorporated
2020 and 2021 Balance Sheets
($ in thousands)
	2020	2021		2020	2021
Cash	$ 100	$ 205	Accounts payable	$ 1,485	$ 1,475
Accounts received	1,000	840	Long-term debt	780	580
Inventory	1,645	2,010	Common stock	3,270	3,250
Total	$ 2,745	$ 3,055	Retained earnings	850	1,100
Net fixed assets	3,640	3,350
Total assets	$ 6,385	$ 6,405	Total liabilities & equity	$ 6,385	$ 6,405

What is the return on equity for 2021?

Multiple Choice

• 25.93%

• 17.61%

• 32.83%

• 26.65%

• 27.38%