Please refer to Blueberry Farms financial statements in question 8. Assume a constant profit margin and dividend payout ratio, and further assume all of Blueberry Farms assets and current liabilities vary directly with sales. Assume long term debt and common stock remain unchanged. Sales are projected to increase by 25 percent. What is Blueberry Farms external financing need for next year?

2017 Income Statement for the year ending Dec. 31, 27,000 18,320 4,700 Net Sales Cost of Goods Solod Depreciation Earnings before interest and taxes Interest Expenses Earnings before tax Tax Earnings after tax Dividends 3,980 950 3,030 909 2,121 900 Balance Sheet as of Dec. 31, 2017 550 Accounts Payable 2,775 4,750 7,500 5,320 Retained earnings 2,250 Cash Accounts receivable 1,360 Long-term debt 3,410 Common stock 11,955 17,275 equity Inventory Total current assets Net fixed assets Total liab. & Total assets 17,275