the 2019 financial statements for Growth Industries are presented

1 Sales Costs EBIT Interest expense Taxable income Taxes (at 21%) Net income Dividends Addition to retained earnings $ 320,000 210,000 $ 110,000 22,000 $ 88,000 18,480 $ 69,520 $ 34,760 $ 34,760 Book rint Assets Current assets Cash Accounts receivable Inventories Total current assets Net plant and equipment BALANCE SHEET, YEAR-END, 2019 Liabilities Current liabilities $ 8,000 Accounts payable 13,000 Total current liabilities 39,000 Long-term debt $ 60,000 Stockholders' equity 260,000 Common stock plus additional paid-in capital Retained earnings $ 320,000 Total liabilities plus stockholders equity $ $ 15,000 15,000 220,000 Total assets 15,000 70,000 $ 320,000 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 0.50 What is the required external financing over the next year? (Enter excess cash as a negative number with a minuccian