The most recent financial statements for GPS, Inc., are shown here: Income Statement Sales $23,600 Assets Costs 16,400 Taxable $7,200 Total income Taxes (35%) 2,520 Net income $4,680 Balance Sheet $112,000 Debt Equity $112,000 Total $35,600 76,400 $112,000 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,570 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $29,600. Required: What is the external financing needed? You'll need to start by calculating the percentage growth rate in sales, as well as the dividend payout ratio (or plowback ratio)