Bayside, Inc. 2017 Income Statement ($ in thousands) Net sales Cost of goods sold Depreciation Earnings before interest and taxes Interest paid Taxable income Taxes Net income $6,620 4,240 355 $2,025 30 $1,995 698 $1,297 Cash Accounts rec. Inventory Total Net fixed assets Total assets Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 $ 110 $ 215 Accounts payable 990 830 Long-term debt 1,680 2,070 Common stock $2,780 $3,115 Retained earnings 3,690 3,590 $6,470 $6,705 Total liab. & equity 2016 2017 $1,540 $1,885 810 610 3,240 3,080 880 1,130 $6,470 $6,705 What is the equity multiplier for 2017