The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of 5) Assets Cash and securities Accounts receivable 2021 $ 4,900 17,500 19,600 Inventories Total current assets $ 42,000 Net plant and equipment 28,000 Total assets $ 70,000 Liabilities and Equity Accounts payable $ 19,593 Accruals Notes payable 11,507 8,000 Total current liabilities Long-term bonds Total liabilities Common stock Retained earnings Total common equity Total liabilities and equity Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes (25%) Net income: $ 39,100 12,000 $ 51,100 3,969 14,931 $ 18,900 $ 70,000 2021 $126,000 117,180 2,240 1,200 $ 6,580 $ 5,380 1,345 $ 4,035 Other data: Shares outstanding (millions) Common dividends (millions of 5) Int. rate on notes payable & L-T bonds Federal plus state income tax rate 500.00 $1.41225 6% 25% Year-end stock price $96.84 4 What is the firm's equity multiplier? Do not round your intermediate calculations. s. Oa 2.70 36 6.2.22 37 3.70 Od 469