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The most recent financial statements for Bello, Inc., are shown here: Income Statement Balance Sheet Sales $ 40,800 Assets $ 151,000 Debt $ 45,000 Costs

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

Income Statement Balance Sheet
Sales $ 40,800 Assets $ 151,000 Debt $ 45,000
Costs 27,600 Equity 106,000
Taxable income $ 13,200 Total $ 151,000 Total $ 151,000
Taxes (21%) 2,772
Net income $ 10,428

Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,600 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $46,512.

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

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