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Markus Companys common stock sold for $4.50 per share at the end of this year....

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Accounting

Markus Companys common stock sold for $4.50 per share at the end of this year. The company paid a common stock dividend of $0.63 per share this year. It also provided the following data excerpts from this years financial statements:

Ending Balance Beginning Balance
Cash $ 40,000 $ 40,200
Accounts receivable $ 84,000 $ 63,700
Inventory $ 70,600 $ 84,000
Current assets $ 194,600 $ 187,900
Total assets $ 699,000 $ 755,600
Current liabilities $ 78,000 $ 76,500
Total liabilities $ 184,000 $ 165,600
Common stock, $1 par value $ 152,000 $ 152,000
Total stockholders equity $ 515,000 $ 590,000
Total liabilities and stockholders equity $ 699,000 $ 755,600

This Year
Sales (all on account) $ 980,000
Cost of goods sold $ 568,400
Gross margin $ 411,600
Net operating income $ 263,250
Interest expense $ 13,500
Net income $ 174,825

15. What is the equity multiplier? (Round your answer to 2 decimal places.)

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