The 2017 financial statements for Growth Industries are presented below.

INCOME STATEMENT, 2017

Sales $ 300,000

Costs 200,000

EBIT $ 100,000

Interest expense 20,000

Taxable income $ 80,000

Taxes (at 35%) 28,000

Net income $ 52,000

Dividends $ 15,600

Addition to retained earnings 36,400

BALANCE SHEET, YEAR-END, 2017

Assets Liabilities

Current assets Current liabilities

Cash $ 6,000 Accounts payable $ 13,000

Accounts receivable 11,000 Total current liabilities $ 13,000

Inventories 33,000 Long-term debt 200,000

Total current assets $ 50,000 Stockholders equity

Net plant and equipment 240,000 Common stock plus additional paid-in capital 15,000

Retained earnings 62,000

Total assets $ 290,000 Total liabilities and stockholders' equity $ 290,000

Sales and costs are projected to grow at 30% 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 full 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 0.30. What is the required external financing over the next year? (Negative amounts should be indicated by a minus sign.)

I keep coming to the answer of 33,050 but apparently this isn't correct according to the check my work feature.