Use the following information to answer this question. Bayside, Inc. 2017 Income Statement ($ in...
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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 interest and taxes Interest paid Taxable income Taxes Net income $6,270 4,640 400 $1,230 46 $1,184 414 $ 770 Cash Accounts rec. Inventory Total Net fixed assets Total assets Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 150 $ 255 Accounts payable 1,150 990 Long-term debt 1,825 2,140 Common stock $3,125 $3,385 Retained earnings 3,860 3,680 $6,985 $7,065 Total liab. & equity 2016 2017 $1,735 $1,805 890 690 3,400 3,360 960 1,210 $6,985 $7,065 How many dollars of sales were generated from every dollar of fixed assets during 2017? Multiple Choice $1.62 $1.66 5 $.90 O $.89 $1.70
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