Please provide a step-by-step analysis (preferably using Excel) or provide the formulas needed to arrive at the answer. Thanks.

The most recent financial statements for Bello, Inc., are shown here: Income Statement Sales $40,200 Costs 27,300 Balance Sheet Assets $148,000 Debt Equity $ 43,500 104,500 10 points Taxable income $ 12,900 Total $148,000 Total $148,000 eBook Taxes (23%) 2,967 Print Net income $ 9,933 Assets and costs are proportional to sales; debt and equity are not. A dividend of $3,450 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $44,622. What is the external financing needed? (Do not round intermediate calculations.) External financing needed