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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $ 11,100 Current assets $ 5,400 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 11,100 Current assets $ 5,400 Current liabilities $ 3,300
Costs 7,900 Fixed assets 10,200 Long-term debt 4,820
Taxable income $ 3,200 Equity 7,480
Taxes (24%) 768 Total $ 15,600 Total $ 15,600
Net income $ 2,432

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 17 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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