Consider the following simplified financial statements for the Wims Corporation (assuming no income taxes): Income Statement Sales 29,700 Assets $24,850 Debt $6,350 Costs Balance Sheet 22,020 Equity 18,500 $ 7680 $24,850 Total $24,850 income The company has predicted a sales increase of 10 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.) Answer is complete but not entirely correct. Pro forma income statement Sales Costs Net income Pro forma balance sheet $ 32,670Ass 27,335 Debt 6,985 22,724 29,709 24,222 Equity 8,448 Total 27.335Total What is the external financing needed? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) Answer is complete but not entirely correct External financing needed 4,224