2. value: 10.00 points The most recent financial statements for Reply, Inc., are shown here: Income Statement Sales $ 33,700 Costs 25,300 Assets Balance Sheet $ 55,000 Debt Equity $ 22,200 32,800 Taxable income $ 8,400 Total $ 55,000 Total $55,000 Taxes (40%) 3,360 Net income $ 5,040 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,900 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $37,070. What is the external financing needed? (Do not round intermediate calculations.) External financing needed Hints References eBook & Resources Hint #1