The most recent financial statements for Hornick, Inc., are shown here (assuming no income taxes):
Income Statement Balance Sheet Sales $ 7,500 Assets $ 15,800 Debt $ 6,300 Costs 5,410 Equity 9,500 Net income $ 2,090 Total $ 15,800 Total $ 15,800 Assets and costs are proportional to sales.
Debt and equity are not. No dividends are paid. Next year's sales are projected to be $9,075.
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 $