Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes):

Income Statement

Sales

$34137

Costs

$26685

Balance Sheet

Assets

$55957

Debt

$15658

Equity

?

The company has predicted a sales increase of 5 percent. Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not.

Determine the external financing needed. Round 2 decimal places