Consider the following income statement for the Heir Jordan Corporation: HEIR JORDAN CORPORATION Income Statement $45,300 35,100 Sales Costs Taxable income Taxes (25%) $ 10,200 2,550 Net income $ 7,650 $2,900 Dividends Addition to retained earnings 4,750 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 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current liabilities Percentage of Sales Assets Current assets Cash $ 2,000 S Accounts payable Notes payable 2,400 4,400 Accounts receivable 4,600 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 2 decimal places, e.g., 32.16.) HEIR JORDAN CORPORATION Percentage of Sales Assets Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Current assets Cash S $ 2,400 4,400 Accounts receivable Inventory Total 2,000 4,600 6,400 13,000 $ $ 6,800 $ 25,000 Fixed assets Net plant and equipment Total Long-term debt Owners' equity Common stock and paid-in surplus Retained earnings Total $ 35,800 $ 14,000 3,000 17,000 48,800 $ Total assets S 48,800 Total liabilities and owners' equity $