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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Current Sales $4,200 Current assets $4,100 $860 liabilities Long-term Costs

The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Current Sales $4,200 Current assets $4,100 $860 liabilities Long-term Costs 2,600 Fixed assets 5,900 3,510 Taxable income $1,600 Taxes (22%) debt Equity 5,630 Net income 352 Total $1,248 $10,000 Total $10,000 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 25 percent. What is the external financing needed

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