Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales Costs Net income $40,000 34,160 Assets Sales Costs Net income $ 5,840 Total $26,000 Total $26,000 The company has predicted a sales increase of 20 percent. Assume the company 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. Balance Sheet $26,000 Debt $ 7,000 Equity 19,000 Prepare the pro forma statements. (Input all amounts as positive values. Do not round intermediate calculations and round your answers to the nearest whole dollar amount.) Pro forma income statement External financing needed Assets Total Pro forma balance sheet Debt Equity Total What is the external financing needed? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.)