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The most recent financial statements for Summer Tyme, Inc., are shown here: Income Statement Balance Sheet Sales $3,600 Current assets $5,200 Current liabilities $790 Costs

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

Income Statement Balance Sheet
Sales $3,600 Current assets $5,200 Current liabilities $790
Costs

2,700

Fixed assets 4,700 Long-term debt 3,640
Taxable income $900 Equity 5,470
Taxes (31%) 279 Total

$9,900

Total

$9,900

Net income

$621

Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 50 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.)

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