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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 39,200 Assets $ 143,000 Debt $ 41,000 Costs

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

Income Statement Balance Sheet
Sales $ 39,200 Assets $ 143,000 Debt $ 41,000
Costs 26,800 Equity 102,000
Taxable income $ 12,400 Total $ 143,000 Total $ 143,000
Taxes (23%) 2,852
Net income $ 9,548

Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,200 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $43,904.

What is the external financing needed? (Do not round intermediate calculations.)

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