Use the following information to answer this question.

Bayside, Inc. 2017 Income Statement ($ in thousands)
Net sales	$	6,320
Cost of goods sold		4,090
Depreciation		340
Earnings before interest and taxes	$	1,890
Interest paid		35
Taxable income	$	1,855
Taxes		649
Net income	$	1,206

Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands)
		2016			2017				2016			2017
Cash	$	95		$	200		Accounts payable	$	1,520		$	1,850
Accounts rec.		1,000			840		Long-term debt		790			580
Inventory		1,620			2,040		Common stock		3,185			3,050
Total	$	2,715		$	3,080		Retained earnings		850			1,100
Net fixed assets		3,630			3,500
Total assets	$	6,345		$	6,580		Total liab. & equity	$	6,345		$	6,580

What is the equity multiplier for 2017?