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The most recent financial statements for Locke, Inc., are shown here: INCOME STATEMENT BALANCE SHEET Sales $ 60,000 Assets $ 128,500 Debt $ 41,700 Costs

The most recent financial statements for Locke, Inc., are shown here:
INCOME STATEMENT BALANCE SHEET
Sales $ 60,000 Assets $ 128,500 Debt $ 41,700
Costs 49,600 Equity 86,800
Taxable income $ 10,400 Total $ 128,500 Total $ 128,500
Taxes (25%) 2,600
Net income $ 7,800
Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,700 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $70,800.
What is the external financing needed? (Do not round intermediate calculations and enter your answer to the nearest whole number, e.g., 32.)

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