11 Problem 19-11 EFN (L04, CFA8) The most recent financial statements for Martin, Inc., are shown here: 2.5 points Income Statement Sales $26,500 Costs -15,900 Taxable income $10,600 eBook Taxes (21%) -2,226 Net income $8,374 Print Total $108,650 Balance Sheet $108,650 Debt Equity Total $45,000 63,650 $108,650 Assets References Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,090 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $31,535. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.) EFN