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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 40,200 Assets $ 148,000 Debt $ 43,500 Costs

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

Income Statement Balance Sheet
Sales $ 40,200 Assets $ 148,000 Debt $ 43,500
Costs 27,300 Equity 104,500
Taxable income $ 12,900 Total $ 148,000 Total $ 148,000
Taxes (23%) 2,967
Net income $ 9,933

Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,450 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $44,622.

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

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