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The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 30 percent. Interest expense will remain constant;

The most recent financial statements for Scott, Inc., appear below. Sales for 2020 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also will remain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

SCOTT, INC. 2019 Income Statement
Sales $ 761,000
Costs 596,000
Other expenses 32,000
Earnings before interest and taxes $ 133,000
Interest expense 28,000
Taxable income $ 105,000
Taxes (23%) 24,150
Net income $ 80,850
Dividends $ 25,064
Addition to retained earnings 55,786

SCOTT, INC. Balance Sheet as of December 31, 2019
Assets Liabilities and Owners Equity
Current assets Current liabilities
Cash $ 22,040 Accounts payable $ 56,200
Accounts receivable 44,980 Notes payable 15,400
Inventory 105,960 Total $ 71,600
Total $ 172,980 Long-term debt $ 144,000
Fixed assets Owners equity
Net plant and equipment $ 437,000 Common stock and paid-in surplus $ 121,500
Retained earnings 272,880
Total $ 394,380
Total assets $ 609,980 Total liabilities and owners equity $ 609,980

If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 30 percent growth rate in sales? (Do not round intermediate calculations.)

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