Problem 4-5 EFN (LO2] The most recent financial statements for Assouad, Inc., are shown here: Income Statement Balance Sheet Sales $8,500 Current $ 3,450 Current $ 2,325 assets liabilities Costs 5,950 Long-term Fixed assets 8,900 3,910 debt Taxable income $2,550 Equity 6,115 Taxes (22%) 561 Total $12,350 Total $12,350 Net income $ 1,989 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 45 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 16 percent. What is the external financing needed? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) External financing needed