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

Income Statement Sales $26,000

Costs 15,600

Taxable income $10,400

Taxes (21%) 2,184

Net income $8,216

Balance Sheet

Assets $98,800 Debt $45,000

Equity 53,800

Total $98,800 Total $98,800

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,075 was paid, and Martin wishes to maintain a constant payout ratio. Next years sales are projected to be $31,200. What is the external financing needed?