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

Income Statement		Balance Sheet
Sales	$23,300	Assets	$125,000	Debt	$32,600
Costs	16,800			Equity	92,400
Taxable income	$6,500	Total	$125,000	Total	$125,000
Taxes (30%)	1,950
Net income	$4,550

Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,480 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,900.

Required:

What is the external financing needed?

Multiple Choice

$22,371

$26,235

$21,083

$19,795

$237,051