Bacon Wrapped Water Chestnuts

1 lb. bacon
2 small cans water chestnuts
1 c. sugar
1 c. ketchup
3 Tbsp. soy sauce
toothpicks

Rinse and drain water chestnuts. Cut bacon strips in half, cook them until about 1/2 way done. Make sure the bacon is still soft. Drain bacon on a paper towel. Wrap each bacon strip around a water chestnut secure with a toothpick, and place them on a baking sheet. Mix sugar, ketchup and soy sauce. Spoon ketchup mixture over bacon wraps reserving 1/2 of mixture. Bake at 350* for 30 minutes, remove from oven and spoon remaining ketchup mixture over wraps. Bake an additional 12 - 15 minutes.