6 The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. 6.66 points CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $766,000 622,000 30,500 eBook $ 113,500 References Earnings before interest and taxes Interest paid 15,200 Taxable income Taxes (23%) $ 98,300 22,609 Net income $ 75,691 Dividends Addition to retained earnings $24,140 51,551 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,540 Accounts payable $ 62,600 Accounts receivable 34,990 Notes payable 18,500 Inventory 71,690 Total $ 81,100 Total $ 132,220 Long-term debt $ 114,000 Fixed assets Net plant and equipment Owners' equity Common stock and paid-in $ 113,000 surplus Retained earnings 47120 $223,000 Total $ 160,120 Total assets $355,220 Total liabilities and owners' equity $355,220 What is the EFN if the firm wishes to keep its debt-equity ratio constant? (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g.. 32.) EFN