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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 27,600 Equity

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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 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 year's sales are projected to be $46,512. What is the external financing needed? (Do not round intermediate calculations.)

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