Use the following information to answer this question.

Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales	$	9,600
Cost of goods sold		7,550
Depreciation		380
Earnings before interest and taxes	$	1,670
Interest paid		95
Taxable income	$	1,575
Taxes		551
Net income	$	1,024

Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
		2016			2017				2016			2017
Cash	$	200		$	230		Accounts payable	$	1,410		$	1,542
Accounts rec.		950			850		Long-term debt		1,040			1,273
Inventory		1,690			1,625		Common stock		3,200			2,950
Total	$	2,840		$	2,705		Retained earnings		510			760
Net fixed assets		3,320			3,820
Total assets	$	6,160		$	6,525		Total liab. & equity	$	6,160		$	6,525

What is the equity multiplier for 2017?

Use the following information to answer this question Windswept, Inc 2017 Income Statement ($ in millions) $9,600 Net sales Cost of goods sold Depreciation Earnings before interest and taxes 7,550 380 $1,670 Interest paid 95 Taxable income $1,575 551 es $1,024 Net income Windswept, Inc 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2017 2016 230 ACcounts payable 200 $ Cash $ $1,410 $1,542 850 Long-term debt Accounts 950 1,040 1,273 rec. 1,625 Common stock 2,950 Inventory 1,690 3,200 $ 2,840 $2,705 Retained earnings Total 510 760 Net fixed 3,320 3,820 assets Total Total $6,160 $6,525 liab. & $6,160 $6,525 assets equity What is the equity multiplier for 2017? Multiple Choice 1.76 times 2.21 times 3.25 times 1.29 times 2.59 times