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Calculate the external financing needed given the following financial statements. Assume that all costs, all assets, and accounts payable change proportionally with sales. Sales are projected to grow by 25%. Also assume that the company is operating at full capacity.

Current Statement of Comprehensive Income

Sales$50,000CoGS30,000EBDIT20,000Depreciation10,000EBIT10,000Interest expense5,000Taxable income5,000Taxes (35%)1,750Net Income3,250Dividends975Addition to RE2,275

Current Statement of Financial PositionCash$8,000Accounts receivable22,000Inventory30,000Total current assets60,000Fixed assets90,000Total assets$150,000Accounts payable$15,000Notes payable5,000Total current liabilities20,000Long-term debt40,000Common stock40,000Retained earnings50,000Total owners' equity90,000Total Liabilities and OE$150,000