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Consider the following Income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 46,800 Costs 36,200 Taxable income Taxes (35%) $

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Consider the following Income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement Sales $ 46,800 Costs 36,200 Taxable income Taxes (35%) $ 10,600 3,710 Net Income $ 6,890 Dividends $ 4,400 Addition to retained earnings 2,490 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.) HEIR JORDAN CORPORATION Balance Sheet Percentage Percentage of Sales of Sales Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable S Assets Current assets Cash Accounts receivable Inventory Total current assets S 2,750 3,400 9.000 2,400 5,500 S 15,150 S 7.900 S 24,000 Fixed assets Net plant and equipment S 38,800 Total current liabilities Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total owners' equity Total liabilities and owners' equity S 20,000 2.050 22.050 53.950 S Total assets S 53,950 S

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