The most recent financial statements for Williamson, Inc., are shown here (assuming no income taxes): Income Statement Balance Sheet Sales $ 9,600 Assets $ 16,000 Debt $ 4,000 Costs 7,470 Equity 12,000 Net income $ 2,130 Total $ 16,000 Total $ 16,000 Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid. Next year’s sales are projected to be $11,904.
What is the external financing needed?