P4-3 Calculating EFN [LO2] The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Sales $4,900 Assets Costs 3.410 Net $1,490 Total income Balance Sheet $15,200 Debt Equity $15,200 Total $10,600 4,600 $15,200 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,976. What is the external financing needed? Multiple Choice $1,801 $1,391 $1,521