Assume a Dividend payout of $1,200.

Please note. Sales should be 20,000 not 21,000.

External Funding Needed 5,6. The most recent financial statements for Roy, Inc. are shown here: Assets Income Statement Sales $21,000 Costs $12,000 Taxable income $ 8,000 Taxes (34%) $ 2,720 Net Income $ 5.280 Balance Sheet $78,000 Debt $18,000 Equity $60,000 $78,000 Total $78,000 Total Assets and costs are proportional to sales. Debt and equity are not. A dividend of $ was paid and Roy, Inc. wish to maintain a constant payout ratio. Next year's sales are projected to be $25,800. What external financing is needed