The most recent financial statements for Crosby, Inc., follow. Sales for 2018 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate will also remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

CROSBY, INC. 2017 Income Statement Sales Costs Other expenses $758,000 593,000 29,000 $ 136,000 Earnings before interest and taxes Interest paid 25,000 Taxable income Taxes (25%) $ 111,000 27,750 Net income $ 83,250 $24,975 Dividends Addition to retained earnings 58,275 CROSBY, INC. Balance Sheet as of December 31, 2017 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 21,740 Accounts payable $ 55,900 Accounts receivable 44,680 Notes payable 15,100 Inventory 102,960 Total $ 71,000 Total $ 169,380 Long-term debt $ 141,000 Fixed assets Net plant and equipment $434,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 120,000 271,380 Total $ 391,380 Total assets $603,380 Total liabilities and owners' equity $603,380 If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 30 percent growth rate in sales? (Do not round intermediate calculations.) EFN