The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement
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HEIR JORDAN CORPORATION Balance Sheet Assets Liabilities and Owners' Equity Percentage of Sales Percentage of Sales Current assets Current liabilities Cash Accounts receivable Inventory $2,950 4,100 6,400 $13,450 Notes payable Long-term debt Owners' equity Accounts payable 2,400 5,400 7,800 $28,000 Total Total Fixed assets Net plant and equipment $41.300 Common stock and paid-in surplus $15,000 Retained earnings 3,950 $18,950 Total Total liabilities and Total assets $54,750 owners' equity $54,750
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Fundamentals of corporate finance
ISBN: 978-0078034633
10th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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