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Assume the profit margin, tax rate, and the payout ratios of Major Manuscripts. Inc. are constant. Also, assume the cost of goods sold, depreciation, interest,

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Assume the profit margin, tax rate, and the payout ratios of Major Manuscripts. Inc. are constant. Also, assume the cost of goods sold, depreciation, interest, all assets and current liabilities vary with sales. If sales increase by 9 percent, what is the pro forma retained earnings

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