The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

CROSBY, INC.

2017 Income StatementSales$980,760Costs792,960Other expenses20,060Earnings before interest and taxes$167,740Interest paid14,740Taxable income$153,000Taxes (21%)32,130Net income$120,870Dividends$39,250Addition to retained earnings81,620CROSBY, INC.

Balance Sheet as of December 31, 2017AssetsLiabilities and Owners' EquityCurrent assetsCurrent liabilitiesCash$27,920Accounts payable$71,720Accounts receivable42,630Notes payable17,620Inventory95,910Total$89,340Total$166,460Long-term debt$170,000Fixed assetsOwners' equityNet plant and equipment$455,980Common stock and paid-in surplus$140,000Retained earnings223,100Total$363,100Total assets$622,440Total liabilities and owners' equity$622,440

The most recent nancial statements for Crosby, |nc., follow. Sales for 2018 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, xed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales $ 980,760 Costs 792,960 Other expenses 20,060 Earnings before interest and taxes $167,740 Interest paid 14,740 Taxable income $153,000 Taxes (21%) 32,130 Net income $120,870 Dividends $ 39,250 Addition to retained earnings 81,620 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 27,920 Accounts payable $ 71,720 Accounts receivable 42,630 Notes payable 17,620 Inventory 95,910 Total $ 89,340 Total $ 166,460 Long-term debt 11': 170,000 Fixed assets Owners' equity Net plant and equipment $455,980 Common stock and paid-in surplus $140,000 Retained earnings 223,100 Total $ 363,100 Total assets $ 622,440 Total liabilities and owners' equity $ 622,440 What is the EFN if the rm was operating at only 80 percent of capacity in 2017'?I Assume that xed assets are sold so that the company has a 100 percent asset utilization. (A negative answer should be indicated by a minus sign.)