The most recent financial statements for Martin, Inc., are shown here:

Income Statement

Sales

Costs

Taxable income

Taxes (21%)

Net income

$22,000

-13,200

$8,800

-1,848

$6,952

Assets

Total

Balance Sheet

$61,600

Debt

Equity

$61,600

Total

$25,000

36,600

$61,600

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $880 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $25,740. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

The most recent financial statements for Martin, Inc, are shown here: Assets and costs are proportional to sales. Debt and equity are not. A dividend of $880 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $25,740. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct