The Optical Scam Company has forecast a sales growth rate of $20$ percent for next year. Current assets, fixed assets, and short$-$term debt are proportional to sales. The current financial statements are shown here:INCOME STATEMENTSales $ $31,800,000$Costs $27,003,300$Taxable income $ $4,796,700$Taxes $1,678,845$Net income $ $3,117,855$Dividends$ $1,247,142$ Addition to retained earnings$1,870,713$ BALANCE SHEETAssetsLiabilities and EquityCurrent assets$ $7,340,000$Short$-$term debt$ $5,088,000$Fixed assets$19,372,000$Long$-$term debt$2,345,250$ Common stock$ $5,924,750$ Accumulated retained earnings$13,354,000$ Total equity$ $19,278,750$Total assets$ $26,712,000$Total liabilities and equity$ $26,712,000$a$.$ Calculate the external funds needed for next year using the equation from the chapter.Note: Do not round intermediate calculations.