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The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Balance Sheet Sales $ 6,800 Current assets $ 3,500 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 6,800 Current assets $ 3,500 Current liabilities $ 2,200
Costs 5,350 Fixed assets 10,200 Long-term debt 3,750
Taxable income $ 1,450 Equity 7,750
Taxes (34%) 493 Total $ 13,700 Total $ 13,700
Net income $ 957

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 20 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.)

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