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The most recent financial statements for Majestic Corporation follow. Sales for 2020 are projected to increase by 15 percent. Assets, costs, and current liabilities are

The most recent financial statements for Majestic Corporation follow. Sales for 2020 are projected to increase by 15 percent. Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant dividend pay-out ratio. The firm is operating at full capacity and no new debt or equity is issued.

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