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Use the following information to answer this question. Bayside, Inc. 2017...

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Accounting

Use the following information to answer this question.

Bayside, Inc. 2017 Income Statement ($ in thousands)
Net sales $ 5,920
Cost of goods sold 4,090
Depreciation 345
Earnings before interest and taxes $ 1,485
Interest paid 35
Taxable income $ 1,450
Taxes 508
Net income $ 942

Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands)
2016 2017 2016 2017
Cash $ 95 $ 200 Accounts payable $ 1,505 $ 1,490
Accounts rec. 1,000 840 Long-term debt 780 580
Inventory 1,605 2,030 Common stock 3,225 3,250
Total $ 2,700 $ 3,070 Retained earnings 850 1,100
Net fixed assets 3,660 3,350
Total assets $ 6,360 $ 6,420 Total liab. & equity $ 6,360 $ 6,420

How many dollars of sales were generated from every dollar of fixed assets during 2017?

  • $1.77

  • $1.62

  • $1.69

  • $.92

  • $.93

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