The 2017 financial statements for Growth Industries are presented below.

INCOME STATEMENT, 2017
Sales				$	380,000
Costs					240,000
EBIT				$	140,000
Interest expense					28,000
Taxable income				$	112,000
Taxes (at 35%)					39,200
Net income				$	72,800
Dividends	$	21,840
Addition to retained earnings		50,960

BALANCE SHEET, YEAR -END, 2017 Assets Liabilities Current assets Current liabilities Cash Accounts receivable Inventories $ 7,000 12,000 Accounts payable Total current liabilities $14,000 $ 14,000 280,000 31,0Long-term debt Total current assets Stockholders' equity $ 50,000 320,000 Net plant and equipment Common stock plus additional paid-in capital Retained earnings 15,000 61,000 $ 370,000 Total assets $ 370,00 Total liabilities and stockholders' equity 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 0.30 What is the required external financing over the next year? (Negative amounts should be indicated by a minus sign.) External financing