Problem 4-5 EFN (LO2) The most recent financial statements for Assouad, Incorporated, are shown here: Income Statement Balance Sheet Sales $ 9,700 Current assets $ 4,350 Current liabilities Costs 6,850 Fixed assets 9,500 Long-term debt Taxable income $2,850 Equity $ 2,775 4,330 6,745 Taxes (22%) 627 Total $ 13,850 Total $ 13,850 Net income $2,223 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 19 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed 393.82