The most recent financial statements for Zoso, Inc., are shown here (assuming no income taxes): Income Statement Sales $4,900 Assets Costs 3,420 Net $1,480 Total income Balance Sheet $14,700 Debt Equity $10,400 4,300 $14,700 Total $14,700 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year's sales are projected to be $5,975. What is the external financing needed? (Do not round your intermediate calculations.) es HINT: Start by calculating the growth in assets. Now we need to figure out how we will pay for the growth. Start by subtracting off from that needed amount of new assets the estimated growth in internal equity (that it, the new retained earnings that current shareholders use to purchase some of those new assets). Whatever amount is left over is what we must raise in new, external financing. That financing may be in the form of new debt (new loans) or new equity (new shares of stock). HINT: Start by calculating the growth in assets. Now we need to figure out how we will pay for the growth. Start by subtracting off from that needed amount of new assets the estimated growth in internal equity (that it, the new retained earnings that current shareholders use to purchase some of those new assets). Whatever amount is left over is what we must raise in new, external financing. That financing may be in the form of new debt (new loans) or new equity (new shares of stock). Multiple Choice $1,545 $1,700 $1,290 $1,420 $1,170