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The most recent financial statements for ABC, Inc., are shown here: Income Statement Balance Sheet Sales $ 9,900 Current assets $ 4,500 Current liabilities $

The most recent financial statements for ABC, Inc., are shown here:

Income Statement Balance Sheet
Sales $ 9,900 Current assets $ 4,500 Current liabilities $ 2,850
Costs 7,000 Fixed assets 9,600 Long-term debt 4,400
Taxable income $ 2,900 Equity 6,850
Taxes (24%) 696 Total $ 14,100 Total $ 14,100
Net income $ 2,204

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 45 percent dividend payout ratio. As with every other firm in its industry, next years sales are projected to increase by exactly 16 percent.

What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

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