Assets and costs are proportional to sales. Debt and equity are not. A dividend of $970 was paid, and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $19,680. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales Costs Taxable income Taxes ( 35% ) $16,000 9.600 $ 6,400 2,240 $ 4,160 Net income Balance Sheet $44,800 Debt $ 22,000 22,800 $ 44,800 Assets Equity Total $44, 800 Total