Problem $4-5$ EFN $[$LO$2]$

The most recent financial statements for Assouad, Incorporated, are shown here:

$\backslash$table$[[$Income Statement,Balance Sheet$],[$Sales$,\backslash$table$[[$$$],[10700]],$Current assets,$$5,100,$Current liabilities,$$3,150],[$Costs$,7,600,$Fixed assets,$10,000,$Long$-$term debt,$4,680],[$Taxable income,$$3,100,,,$Equity,$7,270],[$Taxes $(24\%),744,$Total,$$15,100,$Total,$$15,100],[$Net income,$$2,356,,,,]]$

Assets, costs, and current liabilities are proportional to sales. Long$-$term debt and equity are not. The company maintains a constant $44$ percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly $15$ percent. What is the external financing needed? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

External financing needed