Question
Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 48,800 Costs 34,800 Taxable income $ 14,000 Taxes
| Consider the following income statement for the Heir Jordan Corporation: |
| HEIR JORDAN CORPORATION | ||
| Income Statement | ||
| Sales | $ 48,800 | |
|---|---|---|
| Costs | 34,800 | |
| Taxable income | $ 14,000 | |
| Taxes (22%) | 3,080 | |
| Net income | $ 10,920 | |
| Dividends | $ 4,200 | |
| Addition to retained earnings | 6,720 | |
| 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.) |
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Michael Saylor On Bitcoin The Very First Interviews
Authors: Coinan The Barbarian ,Satoshi Nakamoto
1st Edition
979-8423442019
