3 kipped Book B Hint Print n erences 4 F kipped H Print 0 The most recent financial statements for Kerch, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 6,250 $9,500 Assets $19,650 Debt 6,570 Costs Equity 13,400 Net $2,930 Total $19,650 Total $19,650 income Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $11,400. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Extemal financing needed The most recent financial statements for Cardinal, Inc., are shown here: Balance Sheet Income Statement Sales Assets $71,600 Debt $35,300 $30,200 18,300 Costs Equity 36.300 Taxable income $ 11,900 Total $71,600 Total $71,600 Taxes (24%) 2,856 Net income $ 9,044 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,500 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $33,220. What is the external financing needed? (Do not round intermediate calculations.) External financing needed - Check my work Check my work