Use the following information to answer this question.   Bayside, Inc. 2010 Income Statement ($ in thousands) Net sales $ 6,040 Less: Cost of goods sold 4,200 Less: Depreciation 400 Earnings before interest and taxes $ 1,440 Less: Interest paid 30 Taxable Income $ 1,410 Less: Taxes 423 Net income $ 987     Bayside, Inc. 2009 and 2010 Balance Sheets ($ in thousands)     2009 2010   2009 2010 Cash $ 115 $ 220 Accounts payable $ 1,580 $ 1,510 Accounts rec. 990 830 Long-term debt 810 610 Inventory 1,705 2,040 Common stock $ 3,240 $ 3,280 Total $ 2,810 $ 3,090 Retained earnings 880 1,130 Net fixed assets 3,700 3,440       Total assets $ 6,510 $ 6,530 Total liab. & equity $ 6,510 $ 6,530 What is the return on equity for 2010?Single choice

A

22.38 percent

B

23.17 percent

C

31.97 percent

D

15.11 percent

E

23.96 percent

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