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Use the following information to answer this question: Windswept, Incorporated 2 0 2 1 Income Statement ( $ in millions ) Net sales $ 1

Use the following information to answer this question:
Windswept, Incorporated
2021 Income Statement
($ in millions)
Net sales $ 10,800
Cost of goods sold 7,950
Depreciation 420
Earnings before interest and taxes $ 2,430
Interest paid 100
Taxable income $ 2,330
Taxes 489
Net income $ 1,841
Windswept, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2020202120202021
Cash $ 280 $ 310 Accounts payable $ 1,790 $ 1,842
Accounts received 1,1101,010 Long-term debt 1,0701,353
Inventory 2,0001,745 Common stock 3,3603,030
Total $ 3,390 $ 3,065 Retained earnings 650900
Net fixed assets 3,4804,060
Total assets $ 6,870 $ 7,125 Total liabilities & equity $ 6,870 $ 7,125
What is the equity multiplier for 2021?

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