Given the following balance sheet, income statement, and industry information, use the Dupont method of analyzing the firm's return on equity to answer the following three questions

Industry average debt ratio: 0.44

Industry average net profit margin: 6.7 percent

Industry average return on equity: 15.9 percent

Balance

Sheet

Income

Statement

Cash

$ 6,800

Sales

$191,370

Accounts Receivable

$ 15,350

COGS

$107,700

Inventory

$ 32,170

GP

$83,670

Total CA

$ 54,320

Cash Oper Exp

$39,620

Net Fixed Assets

$ 126,400

Depreciation

$16,170

Total Oper Exp

$55,790

Total Assets

$ 180,720

EBIT

$27,880

Accounts Payable

$ 6,600

Accrued Taxes

$ 3,870

Interest

$6,750

Accrued Wages

$ 7,500

Taxable Income

$21,130

Notes Payable

$ 10,700

Taxes

$7,396

Total CL

$ 28,670

Net Income

$13,734

Long Term Debt

$ 68,000

Total Liabilities

$ 96,670

Common Stock

$ 42,300

Retained Earnings

$ 41,750

Total Equity

$ 84,050

Total L&E

$ 180,720

What is the industry equity multiplier (EM)?

Group of answer choices