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a company expects sales of $420 million next year, assuming a 20% increase from the previous year. the firm anticipates $27.35 million in retained earnings
a company expects sales of $420 million next year, assuming a 20% increase from the previous year. the firm anticipates $27.35 million in retained earnings after taxes and dividends have been paid. depreciation expense totaled $1 million. net assets are expected to represent 40% of change in sales. Will external financing be required? Show your calculations and explain your result.
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