The most recent financial statements for Locke, Inc., are shown here: INCOME STATEMENT BALANCE SHEET Sales $58,000 Assets $125,300 Costs 47,800 Debt Equity $ 39,900 85,400 Taxable $10,200 Total $125,300 Total $125,300 income Taxes (23%) 2,346 Net income $ 7,854 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 year's sales are projected to be $66,700. What is the external financing needed? (Do not round intermediate calculations and enter your answer to the nearest whole number, e.g., 32.) External financing needed