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The most recent financial statements for Cornell, Inc., are shown here: INCOME STATEMENT BALANCE SHEET Sales $ 26,200 Assets $ 116,000 Debt $ 24,400 Costs

The most recent financial statements for Cornell, Inc., are shown here:

INCOME STATEMENT BALANCE SHEET
Sales $ 26,200 Assets $ 116,000 Debt $ 24,400
Costs 15,100 Equity 91,600
Taxable income $ 11,100 Total $ 116,000 Total $ 116,000
Taxes (36%) 3,996
Net income $ 7,104

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,042.6 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $34,322. What is the external financing needed? (Do not include the dollar sign ($). Round your answer to to 2 decimal places. (e.g., 32.16))

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