3. The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes):

Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next years sales are projected to be $8,968. What is the external financing needed?

Income Statement Balance Sheet $7,600 Assets 5,180 $2.420 Sales $21,700 Debt S9,100 Net Income Tota$21,700 Total $21.700