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The external funds needed (EFN) equation projects the addition to retained earnings as: PM Sales. Projected sales (1 -d). PMProjected sales. PM Sales(1 -d). PM

The external funds needed (EFN) equation projects the addition to retained earnings as:

PM Sales.Projected sales (1 -d).PMProjected sales.

PM Sales(1 -d).PM Projected sales (1 -d).

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