Use the following information to answer this question.
Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $
11,400 Less: Cost of goods sold 8,150 Less: Depreciation 440
Earnings before interest and taxes $ 2,810 Less: Interest paid 108
Taxable Income $ 2,702 Less: Taxes 946 Net income $ 1,756
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) 2009
2010 2009 2010 Cash $ 320 $ 350 Accounts payable $ 1,950 $ 2,022
Accounts rec. 1,190 1,090 Long-term debt 1,110 1,393 Inventory
2,120 1,805 Common stock $ 3,440 $ 3,070 Total $ 3,630 $ 3,245
Retained earnings 690 940 Net fixed assets 3,560 4,180 Total assets
$ 7,190 $ 7,425 Total liab. & equity $ 7,190 $ 7,425
What is the equity multiplier for 2010?
What is the equity multiplier for 2010?