The most recent financial statements for Martin, Inc., are shown here Income Statement Sales Costs Taxable income Taxes ( 3 5 % ) $16,000 9.600 $ 6,400 (2,240) Net income $ 4,160 Balance Sheet $44,800 Debt $22,000 22,800 $44,800 Assets Equity Total $44,800 Total Assets and costs are proportional to sales. Debt and equity are not. A dividend of $970 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $19,680. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places.) EFN