The 2017 financial statements for Growth Industries are presented below INCOME STATEMENT, 2017 Sales Costs EBIT Interest expense Taxable income Taxes (at 35%) Net income $ 380,000 240,000 $ 140,000 28,000 $112,000 39,200 $ 72,800 Dividends Addition to retained earnings 21,840 50,960 BALANCE SHEET, YEAR -END, 2017 AssetS Liabilities Current assets Current liabilities $ 7,000 12,000 31,000 $ 50,000 320,000 Accounts receivable Inventories Accounts payable Total current liabilities $ 14,000 $ 14,000 280,000 Long-term debt Total current assets Stockholders' equity 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 full capacity, so it plans to increase fixed assets in 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.) proportion to sales. Interest expense will equal 10% of long-term debt outstanding at the start of the year. The firm will maintain a External financing