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A company projects that next year's sales will grow 9% and ROA (net income divided by the previous year's total assets) is constant at 7%,

A company projects that next year's sales will grow 9% and ROA (net income divided by the previous year's total assets) is constant at 7%, but long-term debt and equity do not change with sales automatically (except for the new retained earnings). The current year's total assets and accounts payable are $2000 and $700. Accounts payable usually grow at the same rate as sales. The company's plowback ratio is always 70%. Assuming that total assets must grow at the same

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