The most recent financial statements for Assouad, Incorporat…

The most recent financial statements for Assouad, Incorporated, are shown here:   Income Statement Balance Sheet Sales $ 3,500 Current assets $ 4,900 Current liabilities $ 820 Costs 2,500 Fixed assets 5,100 Long-term debt 3,550 Taxable income $ 1,000     Equity 5,630 Taxes (22%) 220 Total $ 10,000 Total $ 10,000 Net income $ 780           Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year’s sales are projected to increase by exactly 25 percent.   What is the external financing needed?