P4-4 EFN [LO2) The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales $24,000 Assets Costs 16,200 Taxable $7,800 Total Income Taxes (23%) 1,794 Net Income $6,006 Balance Sheet $114,000 Debt Equity $114,000 Total $40,600 73,400 $114,000 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,570 was pald, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $29,500. What is the external financing needed? Multiple Choice $15.895 $17,089 $189.746 $14,700 $20,673