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The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales $23,400 Assets Costs 16,300 Taxable $7,100 Total income Taxes (24%) 1,704

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The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Sales $23,400 Assets Costs 16,300 Taxable $7,100 Total income Taxes (24%) 1,704 Net income $5,396 Balance Sheet $112,000 Debt Equity $112,000 Total $31,600 80,400 $112,000 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,530 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,500. What is the external financing needed

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