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The most recent financial statements for Cardinal, Inc., areshown here:Income StatementBalance Sheet Sales$31,800 Assets$74,800 Debt$38,100 Costs18,500 Equity36,700 Taxable income$13,300 Total$74,800 Total$74,800 Taxes (24%)3,192 Net income$10,108Assets and costs are proportional to sales. Debt and equity arenot. A dividend of $3,900 was paid, and the company wishes tomaintain a constant payout ratio. Next year’s sales are projectedto be $36,570.What is the external financing needed? (Do not roundintermediate calculations.)
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