he most recent financial statements for Cornell, Inc., are shown here: INCOME STATEMENT BALANCE SHEET

Sales $ 34,000

Assets $ 57,700

Debt $ 22,500

Costs 24,500 Equity 35,200

Taxable income $ 9,500

Total $ 57,700

Taxes (40%) 3,800

Net income $ 5,700

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $2,000 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $37,400. What is the external financing needed? (Do not round intermediate calculations.)