Problem 4-26 Calculating EFN [LO2] The most recent financial statements for Crosbync., follow. Sales for 2018 are project to grow by 25 percent. Interest expense will Yemain constant, the tax rate and to dividend payout rate will also remain constant. Costs, other expenses, current asse fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $ 772,000 628.000 33,500 Earnings before interest and taxes Interest paid $ 110,500 3 17,600 Taxable income Taxes (24%) $ 92,900 22,296 Net income $ 70,604 $ 19,940 Dividends Addition to retained earnings 50,664 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 26,140 Accounts payable $ 65,000 Accounts receivable 35,650 Notes payable 20,300 Inventory 72,230 Total $ 85,300 Total $ 134,020 Long-term debt $120,000 Fixed assets Owners' equity Common stock and paid-in surplus $ 119,000 Net plant and equipment $229,000 Retained earnings 38,720 Total $ 157720 Total assets $363,020 Total liabilities and owners equity $363,020 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 $ (17 418)