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What is the return on equity for 2021? Use the following information...

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Finance

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What is the return on equity for 2021?

Use the following information to answer this question: Bayside, Incorporated 2021 Income Statement ($ in thousands) Net sales $ 5,990 Cost of goods sold 4,140 Depreciation 350 Earnings before interest and taxes $ 1,500 Interest paid 29 Taxable income $ 1,471 Taxes 309 Net income $ 1,162 Bayside, Incorporated 2020 and 2021 Balance Sheets ($ in thousands) 2020 2021 2020 2021 Cash $ 105 $ 210 Accounts payable $ 1,530 $ 1,440 Accounts received 950 790 Long-term debt 790 590 Inventory 1,665 2,020 Common stock 3,200 3,260 Total $ 2,720 $ 3,020 Retained earnings 860 1,110 Net fixed assets 3,660 3,380 Total assets $ 6,380 $ 6,400 Total liabilities & equity $ 6,380 $ 6,400

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