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

Income Statement. Balance Sheet

Sales. 40,000. Assets. 147,000. Debt. 43000

Cost. 27,200. Equity 10400

Taxable

IIncome. 12800. Total. 147000 Total. 147000

Taxes (22%) 2816

Net income. 9984

Assets and costs are proportional to,sales; debt and equity,are not. A dividend of 3400 was paid and the company wishes to maintain a constant payout ratio. Next year"s sales projected to be 46400

WWhat is thw external financing needed?