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The most recent financial statements for Kerch, Incorporated, are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 4,500 Assets $ 15,300

The most recent financial statements for Kerch, Incorporated, are shown here (assuming no income taxes):

Income Statement Balance Sheet
Sales $ 4,500 Assets $ 15,300 Debt $ 10,300
Costs 3,450 Equity 5,000
Net income $ 1,050 Total $ 15,300 Total $ 15,300

Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,970.

What is the external financing needed?

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