The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales $ 30,200 Assets $ 71,600 Debt $ 35,300 Costs 18,300 Equity 36,300 Taxable income $ 11,900 Total $ 71,600 Total $ 71,600 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 years sales are projected to be $33,220.

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