Balance Sheet $111,000 Debt Equity $47,600 63,400 Income Statement Sales $22,600 Assets Costs 16,600 Taxable $6,000 Total income Taxes (23%) 1,380 Net income $4,620 $111,000 Total $111,000 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,540 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,800. What is the external financing needed? Multiple Choice $21,929 $174,644 $23,079 $26,526 $20.780