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The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Balance Sheet Sales $ 6,700 Current assets $ 3,400 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 6,700 Current assets $ 3,400 Current liabilities $ 2,200
Costs 5,300 Fixed assets 10,200 Long-term debt 3,750
Taxable income $ 1,400 Equity 7,650
Taxes (34%) 476 Total $ 13,600 Total $ 13,600
Net income $ 924

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 15 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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