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

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $3,500 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $45,426. What external financing is needed?

Income Statement Sales Costs Taxable income Taxes (34%) Net income $40,200 Assets 27,300 $ 12,900 4,386 $8,514 Total Balance Sheet $145,000 Debt Equity $145,000 Total $ 39,000 106,000 $145,000