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The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Balance Sheet Sales $ 7,300 Current assets $ 4,000 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 7,300 Current assets $ 4,000 Current liabilities $ 2,200
Costs 5,950 Fixed assets 9,800 Long-term debt 3,750
Taxable income $ 1,350 Equity 7,850
Taxes (34%) 459 Total $ 13,800 Total $ 13,800
Net income $ 891

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 30 percent dividend payout ratio. As with every other firm in its industry, next years sales are projected to increase by exactly 10 percent.

What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

External financing needed $

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