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The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Balance Sheet Sales $ 6 , 4 0 0 Current assets Current

The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Balance Sheet Sales $6,400 Current assets Current $3,100 $ 2,200 liabilities Long- term Costs 5,150 Fixed assets 10,2003,750 debt Taxable $1,250 Equity 7,350 income Taxes (34%)425Total $13,300Total $13,300 Net income $ 825 Assets, costs, and current liabilities are proportional to salesLong-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 year's sales are projected to increase by exactly 12 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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