The most recent financial statements for GPS, Inc., are shown here: Income Statement Balance Sheet $23,100 Assets $118,000 Debt $40,600 15,800 Equity 77,400 $7,300 Total $118,000 Total $118,000 Taxes (40%) 2,920 Net income $4,380 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,580 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? Sales Costs Taxable income Multiple Choice $23,038 $208,937 $29,117 $24,254 $25,469