Chapter 17 Saved Help Save & Exit Submit Check my work 13 The most recent financial statements for Martin, Inc., are shown here: 10 points Income Statement Sales $ 29,500 Coste (17,700) Taxable income $ 11,800 Taxes (348) (4,012) Net income $ 7,786 eBook Asseta Print Balance sheet $ 82,600 Debt Equity $ 82,600 Total $ 30,000 52,600 $ 82,600 Total References Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,120 was paid, and Martin wishes to maintain a constant payout ratio. Next year's sales are projected to be $34,515. What is the external financing needed? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) EFN