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

INCOME STATEMENT BALANCE SHEET

Sales $ 47,000 Assets $ 107,700 Debt $ 30,000

Costs 37,900 Equity 77,700

Taxable income $ 9,100 Total $ 107,700 Total $ 107,700

Taxes (22%) 2,002

Net income $ 7,098

Assets and costs are proportional to sales; debt and equity are not. A dividend of $2,400 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $54,520. What is the external financing needed? (Do not round intermediate calculations and enter your answer to the nearest whole number, e.g., 32.)