Please help with the following question:

The 2019 financial statements for Growth Industries are presented below.

INCOME STATEMENT, 2019Sales$320,000Costs210,000EBIT$110,000Interest expense22,000Taxable income$88,000Taxes (at 21%)18,480Net income$69,520Dividends$34,760Addition to retained earnings$34,760

BALANCE SHEET, YEAR-END, 2019AssetsLiabilitiesCurrent assetsCurrent liabilitiesCash$8,000Accounts payable$15,000Accounts receivable13,000Total current liabilities$15,000Inventories39,000Long-term debt220,000Total current assets$60,000Stockholders' equityNet plant and equipment260,000Common stock plus additional paid-in capital15,000Retained earnings70,000Total assets$320,000Total liabilities plus stockholders' equity$320,000

Sales and costs are projected to grow at 20% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The firm is currently operating at 75% capacity, so it plans to increase fixed assets in proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The firm will maintain a dividend payout ratio of 0.50.

What is the required external financing over the next year?

The 2019 nancial statements for Growth Industries are presented below. INCIHE STATEMENT, 2619 Sales 5 326,600 Costs 216,600 EBIT 5 116,606 Interest expense 22,600 Taxable income 5 83,600 Taxes (at 21%] 13,480 Net income 5 59,520 Dividends 5 34,?50 Addition to retained earnings 5 34,750 [ BALANCE SHEET, YEAR-END, 2619 Assets Liabilities Current assets Current liabilities Cash 5 8,600 Accounts payable 5 15,600 Accounts receivable 13,600 Total current liabilities 5 15,600 Inventories 39,600 Longterm debt 226,600 Total current assets 5 66,600 Stockholders' equity Net plant and equipment 266,600 Common stock plus additional paidin capital 15,600 Retained earnings ?6,600 Total assets 5 328,303 Total liabilities plus stockholders' equityr $ 3233333 Sales and costs are projected to grow at 20% a year for at least the next 4 years. Both current assets and accounts payable are projected to rise in proportion to sales. The rm is currently operating at 75% capacity, so it plans to increase xed assets in proportion to sales. Interest expense will equal 10% of longterm debt outstanding at the start of the year. The rm will maintain a dividend payout ratio of 0.50. What is the required external nancing over the next year? {Enter excess cash as a negative number with a minus sign.}