Narrow Falls Lumber 2015 Income Statement $848,600 Net sales Cost of goods sold 542,800 Depreciation 147,400 $158,400 EBIT Interest 12,600 Taxable income $145,800 xes 51,800 94,000 Net income $28,200 Dividends Narrow Falls Lumber Balance Sheets as of December 31, 2014 and 2015 2015 2014 2015 2014 $ 78,900 79,200 32,300 26,900 Accounts payable Cash Accounts receivable 74,700 Notes payable 72,300 50,000 40,000 99,500 295,600 Inventory 97,800 Long-term debt 354,500 Common stock and paid-in surplus 707,100 705,000 ($1 par value) 170,000 Net fixed assets 175,000 Retained eamings 253,300 319,100 Total liabilities & $913,600 $902,000 $902,000 $913,600 owners' equity Total assets What is the equity multiplier for 2015? A) 1.92 ) 1.87 E) 1.82 C) 1.44 D) 1.71