Check my work 1 3.75 Dones Consider the following income statement for the Heir Jordan Corporation HEIR JORDAN CORPORATION Income Statement Sales $ 42,600 Costs 33,100 efloor Taxable income Taxes (24%) $ 9.500 2.280 Hint Print Net Income $ 7,220 References Dividends $ 3,100 Addition to retained earnings 4,120 1 The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "o" whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded to 2 decimal places, e.... 32.16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Percentage of Salon The balance sheet for the Heir Jordan Corporation follows. Based on this information and the income statement, supply the missing information using the percentage of sales approach. Assume that accounts payable vary with sales, whereas notes payable do not. (Leave no cells blank - be certain to enter "0" whenever the item is not a constant percentage of sales. Enter each answer as a percent rounded to 2 decimal places, e.g., 32.16.) Percentage of Sales HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable $ Assets Current assets Cash Accounts receivable Inventory Total current assets $ 2.400 4,600 2.100 4,800 8,000 14,900 $ $ $ 7,000 22,000 Fixed assets Net plant and equipment $ 36,200 Total current liabilities Long-term debt Owners' equity Common stock and paid in surplus Retained earnings Total owners' equity Total liabilities and owners' equity $ 16,000 6.100 22.100 51.100 $ Total assets $ 51,100 $ 15 atv A MacBook Pro