Problem 4-24 Calculating EFN (LO2] The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 20 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INCORPORATED 2020 Income Statement Sales Costs Other expenses 756,000 591,000 27,000 $ 138,000 Earnings before interest and taxes Interest paid 23,000 Taxable income Taxes (23%) $ 115,000 26,450 Net income $ 88,550 Dividends Addition to retained earnings $ 26,565 61,985 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 21,540 Accounts payable Accounts receivable 44,480 Notes payable $ 55,700 14,900 Inventory 100,960 Total $ 70,600 Total $ 166,980 Long-term debt $ 139,000 Fixed assets Net plant and equipment $ 432,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 119,000 270,380 Total $ 389,380 Total assets $ 598,980 Total liabilities and owners' equity $ 598,980 If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) EFN