Income Statement for the Present Year
Net sales		$14,650
Costs		$12,103
Taxable income		$2,547
Taxes		$866
Net income		$1,681
Wintergreen, Inc. Balance Sheet for the Present Year
Cash	$525		Accounts payable	$1,963
Accounts receivable	$3,135		Notes payable	$2,618
Inventory	$976		Total	$4,581
Total	$4,636		Long-term debt	$6,600
Net fixed assets	$23,770		Common stock	$7,500
			Retained earnings	$9,725
Total assets	$28,406		Total liabilities and equity	$28,406

Assets, accounts payable and costs are proportional to sales. Debt and equity are not. Sales of Wintergreen, Inc. are expected to increase by 6% next year. Wintergreen is currently operating at maximum capacity. Wintergreen has a 20% dividend pay out ratio. What is the external financing need?