The most recent financial statements for ABC Inc. follow. Sales for 2013 are projected to grow by 12%. Interest expense will remain constant; the tax rate and dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets and accounts payable increase spontaneously with sales. If the firm operating at full capacity and no new debt or equity issued, what external financing is needed to support the 12% growth rate in sales?

ABC Inc. Income Statement, 2013 Sales costs Other Expenses EBIT Interest Paid EBT Taxes Net Income $ 252,000 127,000 15,000 110,000 -10,000 100,000 40000 60,000 48,000 Add To Retained Eanings 12,000