Assets and costs are proportional to sales. Debt and equity are not. A dividend of $4,100 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $37,816. What is the external financing needed?

The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales $32,600 Costs 18,600 Balance Sheet Assets $76,400 Debt Equity $39,500 36,900 Taxable income $ 14,000 Total $76,400 Total $76,400 - Taxes (22%) 3,080 Net income $ 10,920 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $4,100 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $37,816. What is the external financing needed? (Do not round intermediate calculations.) External financing needed