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Use the following information to answer this question: Windswept, Incorporated 2 0 2 1 Income Statement ( $ in millions ) Net sales $ 9

Use the following information to answer this question:
Windswept, Incorporated
2021 Income Statement
($ in millions)
Net sales $ 9,750
Cost of goods sold 7,600
Depreciation 385
Earnings before interest and taxes $ 1,765
Interest paid 97
Taxable income $ 1,668
Taxes 350
Net income $ 1,318
Windswept, Incorporated
2020 and 2021 Balance Sheets
($ in millions)
2020202120202021
Cash $ 210 $ 240 Accounts payable $ 1,500 $ 1,587
Accounts received 970870 Long-term debt 1,0001,283
Inventory 1,7201,640 Common stock 3,2202,960
Total $ 2,900 $ 2,750 Retained earnings 520770
Net fixed assets 3,3403,850
Total assets $ 6,240 $ 6,600 Total liabilities & equity $ 6,240 $ 6,600
What is the equity multiplier for 2021?

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