The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales $ 400,000 250,000 Costs EBIT $ 150,000 30,000 Interest expense Taxable income $ 120,000 Taxes (at 21%) 25, 200 Net income $ 94,800 Dividends $ 47,400 Addition to retained earnings $ 47,400 BALANCE SHEET, YEAR-END, 2019 Assets Current assets Current liabilities Cash $ 9,000 Accounts payable $ 16,000 Total current liabilities $ 16,000 Accounts receivable Inventories 14,000 27,000 Long-term debt 300,000 Stockholders' equity Total current assets Net plant and equipment $ 50,000 340,000 15,000 Common stock plus additional paid-in capital Retained earnings 59,000 Total assets $ 390,000 Total liabilities plus stockholders' equity $ 390,000 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 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 Liabilities