The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Sales Balance Sheet...

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The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Sales Balance Sheet $23,800 Assets $117,000 Debt $ 46,600 Costs 17,400 Taxable income Taxes (24%) $ 6,400 1,536 Total $117,000 Equity Total $117,000 70,400 Net income $ 4,864 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $27,700. What is the external financing needed? The most recent financial statements for Cardinal, Incorporated, are shown here: Income Statement Sales Balance Sheet $23,800 Assets $117,000 Debt $ 46,600 Costs 17,400 Taxable income Taxes (24%) $ 6,400 1,536 Total $117,000 Equity Total $117,000 70,400 Net income $ 4,864 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $27,700. What is the external financing needed?