Please show all steps, no matter how small. Show every single step, also explain everything in detail and write neatly.

19.5 Edgefield Excavation Company has total assets of $4,976,456, sales of $1,225,700, and net income of $587,000. The company's management expects sales to grow by 9 percent next year. All costs including taxes) and assets vary directly with sales, and the firm expects to maintain a payout ratio of 35 percent. Calculate the ex- ternal funds needed (EFN) by Edgefield. What would Edgefield's payout ratio have to be in order for the company's EFN to equal zero