Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes) Income Statement Balance Sheet Sales$40,000 Assets $26,000 Debt 7,000 Equity 19,000 Costs 34,160 Net income $ 5,840 Total $26,000ot $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. 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 Sales Costs Net income Pro forma balance sheet Assets Debt Equity Total Total What is the external financing needed? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) External financing needed