The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.

Income Statement

Tax rate		40%
Stock price	$17.00
Shares outstanding	3,800,000
Dividends are 50% of net income

	Income Statement
	Period Ending	31-Dec-13
	Total Revenue	148,239,000
	COGS		118,094,000
	Selling General and Administrative	13,384,000
	Depreciation	72,000
	Earnings Before Interest And Taxes	16,689,000
	Interest Expense	829,000
	Income Before Tax	15,860,000
	Income Tax Expense (40%)	6,344,000
	Net Income	9,516,000
	Balance Sheet
	Date		31-Dec-13
	Assets
	Current Assets
		Cash	14,468,000
		Net Receivables	98,359,000
		Inventory	18,758,000
	Total Current Assets	131,585,000
	Property Plant and Equipment	70,441,000
	Total Assets	202,026,000
	Liabilities
	Current Liabilities
		Accounts Payable	22,446,500
		Accruals	14,315,500
		Notes Payable	3,631,000
	Total Current Liabilities	40,393,000
	Long Term Debt	134,919,000
	Total Liabilities	175,312,000
	Stockholders' Equity
	Common Stock	40,000
	Retained Earnings	26,674,000
	Total Stockholder Equity	26,714,000
	Total Assets	202,026,000

Calculate the additional or external funds needed if the firm is expecting a growth rate of 10% next year. The firm is currently operating at 95% of capacity and the fixed assets can only by $10,000,000 increments.