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Is it possible to use the following formula to calculate a company's External Financing Need without first producing its pro-forma statements? Please explain why its

Is it possible to use the following formula to calculate a company's External Financing Need without first producing its pro-forma statements? Please explain why its possible or why it isn't. Thank you!

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Spontaneous liabilities Sales EFN = Sales ssets ASales- x Projected sales (1-d)

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