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

Income Statement		Balance Sheet
Sales	$ 3,500	Current assets	$ 4,500	Current liabilities	$ 950
Costs	2,600	Fixed assets	5,600	Long-term debt	3,600
Taxable income	$ 900			Equity	5,550
Taxes (23%)	207	Total	$ 10,100	Total	$ 10,100
Net income	$ 693

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 year's sales are projected to increase by exactly 25 percent.

What is the external financing needed?

Multiple Choice

• $2,005.25

• $1,767.75

• $900.00

• $1,717.75

• $1,817.75