The Income statement and Balance Sheet for Day Light Robbery Inc. is given as follows: INCOME STATEMENT Sales $5,650,000 COGS 3,865,000 Depreciations 650,100 EBIT 1,134,900 Interest Expense 325,000 Taxable Income 809,900 Taxes 161,980 Net Income 647,920 Dividends $ 259,168 BALANCE SHEET ASSETS LIABILITIES & OWNERS EQUITY Current Assets 1,251,000 Current Liabilities 975,000 Long Term Debt 900,000 Net Fixed Asset 8,734,000 Common Stock 6,975,000 Accumulated Retained Earnings 1,135,000 Total Owners Equity 8,110,000 Total Assets 9,985,000 Total Liabilities & Equity 9,985,000 The firm expects its Sales to grow 20% next year Calculate the external funds needed (EFN)