The most recent financial statements for Summer Tyme, Inc., are shown here: Income Statement Balance Sheet Current Sales $4,400 Current assets $4,000 $960 liabilities Long-term Costs 2,600 Fixed assets 4,800 3,480 debt Taxable income $1,800 Equity 4,360 Taxes (34%) 612 Total $8,800 Total $8,800 Net income $1,188 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 25 percent. Required: What is the external financing needed? (Do not round your intermediate calculations.) Multiple Choice O $870 O $1,069 $1,119 $1,309 $1,019 O O O