1 lb. bacon, cut in thirds
2 cans whole water chestnuts
1/2 c. ketchup
2/3 c. white sugar

Wrap water chestnuts with bacon and secure with a toothpick. Bake at 325 degrees on a rack on a cookie sheet until the grease cooks out. Mix ketchup and sugar. Transfer water chestnuts to a shallow baking dish. Bake at 350 degrees for 30 minutes. Serve hot.