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Suppose that after the first pass of pro forma balance sheet estimation, you observe that the projected assets are less than the projected liabilities and

Suppose that after the first pass of pro forma balance sheet estimation, you observe that the projected assets are less than the projected liabilities and equities (i.e., A < L+E). Which of the following is NOT an option to address this balance sheet imbalance?

a.

Payout special dividends

b.

Retire some debt

c.

Raise new debt

d.

Build extra cash reserve

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