2. 10.

Applying percentage of sales [LO 4.1] The statement of financial position for the Ingebyra Pools Limited follows. Based on this information and the statement of profit or loss in the previous problem, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. Put ‘n/a’ where needed.

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Ingebyra Pools Limited Statement of financial position Assets Liabilities and equity Current assets $ Percentage of sales Cash $ 2950 - Current liabilities Percentage $ of sales Accounts $2400- payable