X Your answer is incorrect. Sheridan Excavation Company has total assets of $4.996,456, sales of $1,232,700, and net income of $601,000. The company's management expects sales to grow by 10 percent next year. All costs (including taxes) and assets vary directly with sales, and the firm expects to maintain a payout ratio of 30 percent. Calculate the external funds needed (EFN) by Sheridan. (Round answer to 2 decimal places, e.g- $5.27.) External funds needed $ 36875,60 What would Sheridan's payout ratio have to be in order for the company's EFN to equal zero? (Round answer to 1 decimal places. e.g. 2.7%) Payout ratio 24.4 96