Problem 3-8 Calculating EFN The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Sales $8,600 Costs 5,630 Assets Balance Sheet $16,100 Debt Equity $6,400 9,700 Net income $2,970 Total $16,100 Total $16,100 Assets and costs are proportional to sales; debt and equity are not No dividends are paid. Next year's sales are projected to be $10,578. What is the external financing needed? (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) Answer is complete but not entirely correct. External financing needed $ 3,681