The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 20 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, INCORPORATED 2020 Income Statement Sales $ 750,000 Costs 585,000 Other expenses 21,000 Earnings before interest and taxes $ 144,000 Interest paid 17,000 Taxable income $ 127,000 Taxes (22%) 27,940 Net income $ 99,060 Dividends $ 29,718 Addition to retained earnings 69,342 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Assets Liabilities and Owners Equity Current assets Current liabilities Cash $ 20,940 Accounts payable $ 55,100 Accounts receivable 43,880 Notes payable

Inventory	94,960	Total	$ 69,400
Total	$ 159,780	Long-term debt	$ 133,000
Fixed assets		Owners equity
Net plant and equipment	$ 426,000	Common stock and paid-in surplus	$ 116,000
		Retained earnings	267,380
		Total	$ 383,380
Total assets	$ 585,780	Total liabilities and owners equity	$ 585,780

If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)

The most recent financial statements for Crosby, Incorporated, follow. Sales for 2021 are projected to grow by 20 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, INCORPORATED 2020 Income Statement Sales $ 750,000 585,000 21,000 Costs Other expenses $ 144,000 Earnings before interest and taxes Interest paid 17,000 Taxable income Taxes (22%) $ 127,000 27,940 Net income $ 99,060 Dividends Addition to retained earnings $ 29,718 69,342 CROSBY, INCORPORATED Balance Sheet as of December 31, 2020 Assets Liabilities and Owners' Equity Current assets Current liabilities Cash $ 20,940 Accounts payable Accounts receivable 43,880 Notes payable $ 55,100 14,300 Inventory 94,960 Total $ 69,400 Total $ 159,780 Long-term debt $ 133,000 Fixed assets Net plant and equipment $ 426,000 Owners' equity Common stock and paid-in surplus Retained earnings $ 116,000 267,380 Total $ 383,380 Total assets $ 585,780 Total liabilities and owners' equity $ 585,780 If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 20 percent growth rate in sales? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) EFN