The most recent financial statements for Martin, Inc., are shown here: Sales Income Statement Costa Taxable income Taxes (216) Net income $19,000 -11,400 $7,600 -1,596 $6,004 Balance Sheet Assets $72,200 Total $72,200 Debt Equity Total $40,000 32,200 $72,200 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,000 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $23,750. What is the external financing needed? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) EFN Answer is complete but not entirely correct. 54,922.30