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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $ 9,700 Current assets $ 4,350 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 9,700 Current assets $ 4,350 Current liabilities $ 2,775
Costs 6,850 Fixed assets 9,500 Long-term debt 4,330
Taxable income $ 2,850 Equity 6,745
Taxes (22%) 627 Total $ 13,850 Total $ 13,850
Net income $ 2,223

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next years sales are projected to increase by exactly 19 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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