The 2017 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2017 Sales Costs EBIT S 360,000 230,000 130,000 26,000 Interest expense Taxable income Taxes (at 35 %) 104,000 36,400 $ 67,600 Net income Dividends $ 33,800 33,800 Addition to retained eamings BALANCE SHEET, YEAR-END, 2017 Assets Liabilities Current liabilities Accounts payable Total current liabilities Current assets 5,000 10,000 35,000 50,000 300,000 12,000 12,000 260,000 Cash Accounts receivable Inventories Total current assets Net plant and equipment Long-term debt Stockholders' equity Common stock plus additional paid-in capital Retained earnings 15,000 63,000 $ 350,000 Total liabilities and stockholders' equity $ 350,000 Total assets 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 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? (Enter excess cash as a negative number with a minus sign.) External financing