The most recent financial statements for Mixton, Incorporated, are shown here:

Income Statement: Balance Sheet:

Sales $ 38,600 Assets $ 140,000 Debt $ 39,500

Costs 26,500 Equity 100,500

Taxable income $ 12,100 Total $ 140,000 Total $ 140,000

Taxes (25%) 3,025

Net income $ 9,075

Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,050 was paid, and the company wishes to maintain a constant payout ratio. Next years sales are projected to be $44,390. What is the external financing needed?