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Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes Income Statement Sales $34054 Costs $26796 Balance Sheet $50966 Debt $17370

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Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes Income Statement Sales $34054 Costs $26796 Balance Sheet $50966 Debt $17370 Equity? The company has predicted a sales increase of 8 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. (Negative amount should be indicated by a minus sign.)

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