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3 . The most recent financial statements for Fontenot Co . are shown below: Assets and costs are proportional to sales. The company maintains a

3 .

The most recent financial statements for Fontenot Co

.

are shown below:

Assets and costs are proportional to sales. The company maintains a constant

30

per cent dividend payout ratio and a constant debt

-

equity ratio. What is the new sales that can be sustained assuming no new

equity issued?

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