The most recent financial statements for Martin, Inc., are shown here: Income Statement Sales Costs $25,000 -15,000 Taxable income $10,000 Taxes (21) -2,100 Net income $7,900 Assets Balance Sheet $102,500 Debt Total $102,500 Equity Total $40,000 62,500 $102,500 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,015 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $31,000. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.) EFN