8. Jensen's Shipping has total asscts of $694,800 at year's end. The beginning owners' equity was
$362,400. During the year, the company had sales of $711,000, a profit margin of 5.2 percent, a tax
rate of 21 percent, and paid $12,500 in dividends. What is the equity multiplier at year-end?
(A) 1.67
(B) 1.72
(C) 1.93
(D) 1.80
(E) 1.86
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