Consider the following simplified financial statements for the Fire Corporation (assuming no income taxes):
INCOME STATEMENT:
Sales $33886
Costs $25958
BALANCE SHEET:
Assets $57666 Debt $15444
Equity ?
The company has predicted a sales increase of 7 percent. Assume Fire pays out half of net income in the form of a cash dividend. Costs and assets vary with sales, but debt and equity do not.
Determine the external financing needed. (Negative amount should be indicated by a minus sign.)