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The most recent financial statements for Cardinal, Inc., are shown here Income Statement Sales Costs1 Balance Sheet $30 200Assets $71,600 Debt$35,300 Equity 36,300 18,300 Taxables

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The most recent financial statements for Cardinal, Inc., are shown here Income Statement Sales Costs1 Balance Sheet $30 200Assets $71,600 Debt$35,300 Equity 36,300 18,300 Taxables 1900 Total $71600 Total $ 71600 Taxes (24%) 2,856 Net income $ 9,044 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3.500 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $33.220 What is the external financing needed? (Do not round intermediate calculations.) $20.280

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