The most recent financial statements for Scott, Inc., appearbelow. Sales for 2020 are projected to grow by 30 percent. Interest expense will remain constant; the tax rate and the dividend payout rate also willremain constant. Costs, other expenses, current assets, fixed assets, and accounts payable increase spontaneously with sales.

SCOTT, INC.

2019 Income StatementSales$749,000Costs584,000Other expenses20,000Earnings before interest and taxes$145,000Interest expense16,000Taxable income$129,000Taxes (21%)27,090Net income$101,910Dividends$31,592Addition to retained earnings70,318SCOTT, INC.

Balance Sheet as of December 31, 2019AssetsLiabilities and Owners' EquityCurrent assetsCurrent liabilitiesCash$20,840Accounts payable$55,000Accounts receivable43,780Notes payable14,200Inventory93,960Total$69,200Total$158,580Long-term debt$132,000Fixed assetsOwners' equityNet plant and equipment$425,000Common stock and paid-in surplus$115,500Retained earnings266,880Total$382,380Total assets$583,580Total liabilities and owners' equity$583,580

If the firm is operating at full capacity and no new debt or equity is issued, what external financing is needed to support the 30 percent growth rate in sales?(Do not round intermediate calculations.)