value: 10.00 points The most recent financial statements for Cornwall, Inc., are shown here: Income Statement Sales $ 7,400 Costs 6,000 Balance Sheet Current assets $ 4,100 Current liabilities $ 2,200 Fixed assets 9,800 Long-term debt 3,750 Equity 7.950 Taxable income $ 1.400 $13 900 Total 476 $ 13,900 Taxes (34%) Total Net income $ 924 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 20 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., 32.16.) External financing needed Hints References eBook & Resources