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The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Balance Sheet Sales $ 6,900 Current assets $ 3,600 Current liabilities $

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

Income Statement Balance Sheet
Sales $ 6,900 Current assets $ 3,600 Current liabilities $ 2,200
Costs 5,400 Fixed assets 10,200 Long-term debt 3,750
Taxable income $ 1,500 Equity 7,850
Taxes (34%) 510 Total $ 13,800 Total $ 13,800
Net income $ 990

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next years sales are projected to increase by exactly 17 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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