Hungry Howie's 2012 Income Statement Net sales $17,300 Cost of goods sold 10.300 Depreciation 3.250 Earnings before interest and taxes 3.750 Interest paid 680 Taxable income $3,070 Taxes 950 Net income $2.120 Dividends $450 Addition to retained earnings $1.670 Hungry Howie's 2012 Balance Sheet Hungry Howie's 2012 Balance Sheet 2012 2012 Cash $400 Accounts payable $1.920 Accounts rec. 9:40 Long-term debt 3,600 Inventory 2.360 Common stock 7.500 Total $3.700 Retained earnings 1.530 Net fixed assets 10.850 Total assets $14.550 Total liabilities & equity $14.550 Hungry Howie's is currently operating at full capacity. The profit margin and the dividend payout ratio are held constant. Net working capital and fixed assets vary directly with sales. Sales are projected to increase by 9 percent. What is the external financing needed? -$696.50 -$683.60 -$97.20 -$14.50 $26.80