Which of the Following Is Not a Step in Forecasting

Which of the following is not a step in forecasting sales for a seasoned firm?

A) forecast future growth rates based on possible scenarios and the probabilities of those scenarios.
B) attempt to corroborate the projected sales growth rates analyzing both industry growth rates and the firm's own past market share.
C) refine the sales forecast by using the sales force as a direct contact with both existing and potential customers.
D) take into consideration the likely impact of major operating changes within the firm on the sales forecast.
E) consider the effects of changes in the firm's debt/equity blend on the sales forecasts.