Statement of Comprehensive Income For the year ended December 31, 2018 Sales Costs Earnings before taxes Income taxes (30%) Net income 3,000,000 2,000.000 1,000,000 300,000 700,000 Statement of Financial Position December 31, 2018 Current assets Net fixed assets Total assets 900,000 2,600,000 3,500,000 Current liabilities Long-term debt Common shares Retained earnings 400,000 700,000 900,000 1,500,000 3,500,000 Total liabilities and equity Costs, current assets, net fixed assets, and current liabilities are proportional to sales, while long- term debt and common shares will remain the same. Sales are projected to increase by 8% in 2019, while retention ratio will be 60%. Calculate the amount of extemal financing needed (EFN) for 2019