P4-4 EFN (LO2) The most recent financial statements for GPS, Inc., are shown here: Balance Sheet $118,000 Debt Equity $43,600 74,400 Income Statement Sales $22.400 Assets Costs 15,600 Taxable $6,800 Total income Taxes (30%) 2,040 Net Income $4,760 $118,000 Total $118,000 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,490 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $27,800. Required: What is the external financing needed