The Optical Scam Company has forecast a sales growth rate of 20 percent for next year. The current financial statements are shown here Income Statement Sales Costs $ 31,200,000 26,673,600 Taxable income Taxes $ 4,526,400 1,584,240 Net income $ 2,942,160 Dividends Addition to retained earnings $ 1,176,864 1,765,296 Balance Sheet Assets Liabilities and Equity Current assets $ 7,280,000 Short-term debt Long-term debt $ 6,552,000 5,248,000 Fixed assets 19,240,000 $ 2,902,000 Common stock Accumulated retained earnings 11,818,000 $ 14,720,000 $ 26,520,000 Total equity Total assets 26,520,000 Total liabilities and equity a. Calculate the external financing needed for next year. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) External financing needed