Question: Need Answer to this question please:In the financial planning model, the external financing needed (EFN) as shown on a pro forma balance sheet is equal

Need Answer to this question please:In the financial planning model, the external financing needed (EFN) as shown on a pro forma balance sheet is equal to the changes in assets:

minus the changes in liabilities. minus the changes in both liabilities and equity. plus the changes in liabilities minus the changes in equity. plus the changes in both liabilities and equity. minus the change in retained earnings.

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