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

INCOME STATEMENT Sales $46,000 Costs 37,000 BALANCE SHEET Assets $106,100 Debt Equity $ 29,100 77,000 $ 9,000 Total $106,100 Total $106,100 Taxable income Taxes (21%) 1,890 Net income $ 7,110 Assets and costs are proportional to sales; debt and equity are not. A dividend of $2,300 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $52,900. 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