The 2019 financial statements for Growth Industries are presented below. INCOME STATEMENT, 2019 Sales $ 390, 090 Costs 245, 060 EBIT $ 145, 090 Interest expense 29, 000 Taxable income $ 116,060 Taxes (at 21%) 24, 360 Net income $ 91, 640 Dividends $ 36, 656 Addition to retained earnings $ 54,984 BALANCE SHEET, YEAR-END, 2019 Assets Liabilities Current assets Current liabilities Cash $ 8,000 Accounts payable 15, 000 ta ta Accounts receivable 13, 000 Total current liabilities 15, 000 Inventories 29, 900 Long-term debt 290, 000 Total current assets $ 50, 900 Stockholders' equity Net plant and equipment 330, 000 Common stock plus additional paid-in capital 15, 000 Retained earnings 60, 000 Total assets $ 380,000 Total liabilities plus stockholders' equity $ 380,000 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 0.40. What is the required external financing over the next year? (Enter excess cash as a negative number with a minus sign.) External financing