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A company projects that next year's sales will grow 1 4 % and ROA ( net income divided by the previous year's total assets )

A company projects that next year's sales will grow 14% and ROA (net income divided by the previous year's total assets) is constant at 6%, but long- term debt and equity do not change with sales automatically ( except for the new retained earnings). The current year's total assets and accounts payable are $ 3000 and $ 800. Accounts payable usually grow at the same rate as sales. The company's plowback ratio is always 80%. Assuming that total assets must grow at the same speed as sales , what is next year's external financing need (round to the closest whole number and the answer could be negative)? W

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