If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 30 percent growth rate in sales? (Do not round intermediate calculations.)

The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales. CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $755,000 590,000 26,000 $ 139,000 Earnings before interest and taxes Interest paid 22,000 Taxable income Taxes (22%) $ 117,000 25,740 Net income $ 91,260 $ 28,291 Dividends Addition to retained earnings 62,969 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 21,440 Accounts payable $ 55,600 Accounts receivable 44,380 Notes payable 14,800 Inventory 99,960 Total $ 70,400 Total $ 165,780 Long-term debt $ 138,000 Fixed assets Net plant and equipment $ 431,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 118,500 269,880 Total $388,380 Total assets $596,780 Total liabilities and owners' equity $596,780