ework Saved 1 The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Current Current $11,500 5,700 $3,450 Sales assets Fixed assets liabilities Costs 8,200 10,400 Long-term debt 4,960 Taxable $3,300 Equity 7,690 income Taxes (24%) 792 16,100 $16,100 Total Total Net income $2,508 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 35 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 19 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed