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Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 53,000 Costs 40,900 Taxable income $ 12,100 Taxes
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 53,000 Costs 40,900 Taxable income $ 12,100 Taxes (22%) 2,662 Net income $ 9,438 Dividends $ 3,500 Addition to retained earnings 5,938 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
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