Use the following information to answer this question. Bayside, Incorporated 2022 Income Statement (in millions) Net sales $ 7,620 Cost of goods sold 4,740 Depreciation 405 Earnings before interest and taxes $ 2,475 Interest paid 50 Taxable income $ 2,425 Taxes 849 Net income $ 1,576 Bayside, Incorporated 2021 and 2022 Balance Sheets (in millions) 2021 2022 2021 2022 Cash $ 160 $ 265 Accounts payable $ 1,790 $ 2,235 Accounts receivable 1,190 1,030 Long-term debt 910 710 Inventory 1,880 2,170 Common stock 3,440 3,180 Total $ 3,230 $ 3,465 Retained earnings 980 1,230 Net fixed assets 3,890 3,890 Total assets $ 7,120 $ 7,355 Total liabilities & equity $ 7,120 $ 7,355 What is the equity multiplier for 2022? Multiple Choice 2.19 times 2.31 times 1.00 times .56 times 1.67 times