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

Assets and costs are proportional to sales. Debt and equity are not. A dividend of
$2,300 was paid, and the company wishes to maintain a constant payout ratio. Next year€™s sales are projected to be $30,360. What is the external financingneeded?

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Income Statement Balance Sheet $26,400 Assets $65,000 Debt Sales Costs Taxable income Taxes (40%) $27,400 37,600 $65,000 Equity $65,000 Total 17,300 $ 9,100 3.640 $ 5,460 Total Net income