Income Statement $ 1,900 Sales $8,700 Costs 5,600 Current assets Taxable income $ 3,100 Fixed assets Taxes (25%) 775 Total Net income $2,325 Balance Sheet Current $ 4,200 liabilities 10,400 Long-term debt $14,600 Equity Total 3,800 8,900 $14,600 Assets, costs, and current liabilities are proportional to sale. Long-term debt and equity are not. The company maintains constant 40 percent payout ratio. As with every other firm in its industry, next year's sales are projected to increase by 20%. What is the external financing needed? Please include your calculation in your