Continue from the previous two questions. Based on Tim's expectation of 7% sales growth and payout ratio of 80% of net income next year, Tim developed the pro forma financial statements based on the current financial statements given below. What is the amount of net new financing needed for Jim's Espresso?

Answer: The total new financing will be $ . (Round to the nearest dollar. For excess in funding, enter a negative number.)

Income Statement
Sales	$400,000
- Costs Except Depreciation	300,000
EBITDA	100,000
- Depreciation	40,000
EBIT	60,000
- Interest Expense (net)	1,600
Pretax Income	58,400
- Income Tax (35%)	23,360
Net Income	$35,040

Balance Sheet
Assets
Cash and Equivalents	$8,000
Accounts Receivable	32,000
Inventories	12,000
Total Current Assets	52,000
Property, Plant and Equipment	48,000
Total Assets	$100,000
Liabilities and Equity
Accounts Payable	$36,000
Debt	16,000
Total Liabilities	52,000
Stockholders' Equity	48,000
Total Liabilities and Equity	$100,000