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The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $ 8,500 Current assets $ 3,450 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 8,500 Current assets $ 3,450 Current liabilities $ 2,325
Costs 5,950 Fixed assets 8,900 Long-term debt 3,910
Taxable income $ 2,550 Equity 6,115
Taxes (22%) 561 Total $ 12,350 Total $ 12,350
Net income $ 1,989

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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