Use the following information to answer this question. 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 $ 6,220 4,340 335 $1,545 33 $1,512 529 $ 983 Cash Accounts rec. Inventory Total Net fixed assets Total assets Bayside, Inc. 2016 and 2017 Balance Sheets ($ in thousands) 2016 2017 $ 90 $ 195 Accounts payable 980 820 Long-term debt 1,600 2,030 Common stock $2,670 $3,045 Retained earnings 3,610 3, 470 $6,280 $6,515 Total liab. & equity 2016 2017 $1,495 $1,815 780 570 3,165 3,040 840 1,090 $6,280 $6,515 What is the equity multiplier for 2017