Assume that all costs and assets of the company increase directly with sales. Also assume that the tax rate and the dividend payout ratio and profit margin are constant. The firm is currently operating at full capacity. What is the external financing needed if sales increase by 8 percent?

Answer in dollars and cents.

Company, Inc. 2015 Income Statement
Net sales	$12,400
Cost of goods sold	9,100
Depreciation	1,800
Earnings before interest and taxes	1,500
Interest paid	340
Taxable Income	$1,160
Taxes	406
Net Income	$754

Dividends	$301.60
Addition to retained earnings	$452.4