Use the following information to answer this question. Bayside, Inc. 2010 Income Statement ($ in thousands) Net sales $ 6,020 Less: Cost of goods sold 4,240 Less: Depreciation 325 Earnings before interest and taxes $ 1,455 Less: Interest paid 29 Taxable Income $ 1,426 Less: Taxes 499 Net income $ 927 Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands) 2009 2010 2009 2010 Cash $ 80 $ 185 Accounts payable $ 1,445 $ 1,745 Accounts rec. 940 780 Long-term debt 760 550 Inventory 1,560 2,010 Common stock $ 3,125 $ 3,020 Total $ 2,580 $ 2,975 Retained earnings 820 1,070 Net fixed assets 3,570
Use the following information to answer this question. Bayside, Inc. 2010 Income Statement ($ in thousands) Net sales $ 6,020 Less: Cost of goods sold 4,240 Less: Depreciation 325 Earnings before interest and taxes $ 1,455 Less: Interest paid 29 Taxable Income $ 1,426 Less: Taxes 499 Net income $ 927 Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands) 2009 2010 2009 2010 Cash $ 80 $ 185 Accounts payable $ 1,445 $ 1,745 Accounts rec. 940 780 Long-term debt 760 550 Inventory 1,560 2,010 Common stock $ 3,125 $ 3,020 Total $ 2,580 $ 2,975 Retained earnings 820 1,070 Net fixed assets 3,570 3,410 Total assets $ 6,150 $ 6,385 Total liab. & equity $ 6,150 $ 6,385 What is the equity multiplier for 2010? 0.52 2.11 2.04 1.04 1.56
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