Noveu pter 4 G 6 The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 25 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. 5 CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $ 767,000 623,000 31,000 eBook eferences Earnings before interest and taxes. Interest paid $ 113,000 15,600 Taxable income Taxes (24%) $ 97,400 23,376 Net income $ 74,024 Dividends Addition to retained earnings $23,440 50,584 Me Hill 5 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 25,640 Accounts payable $ 63,000 Accounts receivable 35,100 Notes payable 18,800 Inventory 71,780 Total $ 81,800 Book Total $ 132,520 Long-term debt $ 115,000 erences Owners' equity Common stock and paid-in surplus $224,000 Retained earnings Fixed assets Net plant and equipment $ 114,000 45,720 Total $ 159,720 Total assets $356,520 Total liabilities and owners' equity $356,520 Net plant and equipment Surplus Retained earnings $224,000 45,720 Total $ 159,720 Total assets $356,520 Total liabilities and owners' equity $356,520 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 search