Problem 3-13 External Funds Needed The Optical Scam Company has forecast a sales growth of 20 percent for next year. The current financial statements are shown here: Income Statement Sales 31,800,000 Costs 27,003,300 Taxable income Taxes $4,796,700 1,678,845 Net income $ 3,117,855 Dividends Addition to retained earnings $1,247,142 1,870,713 Current assets Assets $ 7,340,000 Balance Sheet Liabilities and Owners' Equity Accounts payable $ 5,088,000 Long-term debt 2,345,250 19,372,000 Fixed assets Assets Current assets $ 7,340,000 Balance Sheet Liabilities and Owners' Equity Accounts payable $ 5,088,000 Long-term debt 2,345,250 19,372,000 Fixed assets Common stock Accumulated retained earnings $ 5,924,750 13,354,000 Total equity $19,278,750 26,712,000 Total assets Total liabilities and equity $26,712,000 a. Using the equation from the chapter, calculate the external financing needed for next year. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) External financing needed