P4-4 EFN [LO2] The most recent financial statements for GPS, Inc., are shown here: Income Statement Balance Sheet $22,400 Assets $115,000 $33,600 Sales Debt Equity Costs 15,900 81,400 able $115,000 $115,000 $6,500 Total Total income Taxes (35%) 2,275 $4,225 Net income Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,620 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $29,500. Required: What is the external financing needed