Use the following information to answer this question. Bayside, Inc. 2010 Income Statement ($ in thousands)Net sales$ 6,020Less: Cost of goods sold4,240Less: Depreciation325Earnings before interest and taxes$ 1,455Less: Interest paid29Taxable Income$ 1,426Less: Taxes499Net income$ 927Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands) 2009201020092010Cash$ 80$ 185Accounts payable$ 1,445$ 1,745Accounts rec.940780Long-term debt760550Inventory1,5602,010Common stock$ 3,125$ 3,020Total$ 2,580$ 2,975Retained earnings8201,070Net fixed assets3,5703,410Total assets$ 6,150$ 6,385Total liab. & equity$ 6,150$ 6,385What is the equity multiplier for 2010?0.522.112.041.041.56

1.56

Explanation:

Return on equity(ROE) is the achievement of company in generating profits for the common stockholders. It is computed by dividing the net income excluding preferred dividend with average outstanding common stockholder's equity

Equity multiplier = Total assets / Total equity

Total asset = $6385

Total Equity= Common stock + Retained earning at end

Total Equity = $3,020 + $1,070

Total Equity= $4,090

Equity Multiplier=  $6,385 / ( $4,090)

= $1.56

answer; ///pegged exchange rate with the united states;

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