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 $ $686,530$

Costs $554,420$

Other expenses $14,020$

Earnings before interest and taxes $ $118,090$

Interest paid $12,090$

Taxable income $ $106,000$

Taxes $(21\%)22,260$

Net income $ $83,740$

Dividends $ $27,475$

Addition to retained earnings $56,265$

CROSBY, INCORPORATED

Balance Sheet as of December $31,2020$

Assets Liabilities and Owners$$ Equity

Current assets Current liabilities

Cash $ $20,940$ Accounts payable $ $53,790$

Accounts receivable $31,970$ Notes payable $13,215$

Inventory $71,320$ Total $ $67,005$

Total $ $124,230$ Long$-$term debt $ $127,500$

Fixed assets Owners$$ equity

Net plant and equipment $ $341,980$ Common stock and paid$-$in surplus $ $105,000$

Retained earnings $166,705$

Total $ $271,705$

Total assets $ $466,210$ Total liabilities and owners$$ equity $ $466,210$

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?