Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales $ 6,170 Cost of goods sold...

Bayside, Inc. 2017 Income Statement ($ in thousands)
Net sales	$	6,170
Cost of goods sold		4,590
Depreciation		395
Earnings before interest and taxes	$	1,185
Interest paid		44
Taxable income	$	1,141
Taxes		399
Net income	$	742

Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands)
		2016		2017			2016		2017
Cash	$	145	$	250	Accounts payable	$	1,710	$	1,770
Accounts rec.		1,130		970	Long-term debt		880		680
Inventory		1,805		2,130	Common stock		3,380		3,350
Total	$	3,080	$	3,350	Retained earnings		950		1,200
Net fixed assets		3,840		3,650
Total assets	$	6,920	$	7,000	Total liab. & equity	$	6,920	$	7,000

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

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Expert Solution

The amount is computed as follows:

= Sales / Net fixed assets

= $ 6,170,000 / $ 3,650,000

= $ 1.69 Approximately

jeff jeffy answered 1 year ago

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