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The most recent financial statements for Locke, Inc., are shown here: INCOME STATEMENT BALANCE SHEET Sales $ 52,000 Assets $ 115,700 Debt $ 34,500 Costs

The most recent financial statements for Locke, Inc., are shown here:
INCOME STATEMENT BALANCE SHEET
Sales $ 52,000 Assets $ 115,700 Debt $ 34,500
Costs 42,400 Equity 81,200
Taxable income $ 9,600 Total $ 115,700 Total $ 115,700
Taxes (22%) 2,112
Net income $ 7,488
Assets and costs are proportional to sales; debt and equity are not. A dividend of $2,900 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $61,360.
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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