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

Income Statement
Sales	$	25,000
Costs		(15,000)
Taxable income	$	10,000
Taxes (34%)		(3,400)
Net income	$	6,600

Balance Sheet
Assets	$	102,500		Debt	$	40,000
				Equity		62,500
Total	$	102,500		Total	$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 years sales are projected to be $31,000. What is the external financing needed? (Do not round intermediate calculations. Round your answer to 2 decimal places. Omit the "$" sign in your response.)

EFN

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