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The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet $ Sales $ 23,100 Assets Debt $ 38,600 109,000 Costs

The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Balance Sheet $ Sales $ 23,100 Assets Debt $ 38,600 109,000 Costs 15,800 Equity 70,400 Taxable $ $ $ 7,300 Total Total income 109,000 109,000 Taxes (22%) 1,606 Net income $ 5,694 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,600 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,900. What is the external financing needed

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