Calculating EFN The most recent financial statements for Bradley, Inc., are shown here (assuming no income taxes):

Income Statement Balance Sheet Sales Costs Net income

$6,500 5,320

$1,180 Assets Total

$17,400

$17,400 Debt Equity Total

$ 8,400 9,000

$17,400 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $7,280. What is the external financing needed?