Problem 4-26 Calculating EFN (LO2) The most recent financial statements for Crosby, Inc., follow. Sales for 2018 sre projected to grow by 30 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, INC 2017 Income Statement Sales $765.000 Costs 621000 Other expenses 30,000 Earnings before interest and taxes Interest paid $ 114,000 14,800 Taxable income Taxes (229) $99.200 21824 Net income $ 77376 Dividends $24,840 Addition to retained 52.536 carnings CROSBY, INC Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilises Cash $ 25,440 Accounts payable $ 62,200 Accounts 34,880 Notes payable 18.200 receivable Inventory 71600 Total $ 80,400 Total $ 131920 Long-term debt $ 113,000 Fixed assets Owners' equity Common stock and paldin surplus Retained earnings $112.000 Net plant and equipment $222,000 48.520 Total $1501520 Tatal assets Total liabilities and $353,920 owners equity $353.920 What is the EFN the firm wishes to keep its debt-equity ratio constant (Do not round Intermediate calculations and round your answer to the nearest whole dollar amount e.g. 32. EFN