Question: 23. SEC finished preparing the pro-forma financial statements for 2018. It is considering either increasing dividends or implementing a stock repurchase program. They can do

 23. SEC finished preparing the pro-forma financial statements for 2018. It

23. SEC finished preparing the pro-forma financial statements for 2018. It is considering either increasing dividends or implementing a stock repurchase program. They can do so if: a. The External Financing Required is negative. b. The External Financing Required is positive. c The External Financing Required is zero. d. Sales increase. e. The operating free cash flow (OFCF) is positive

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