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 Addition to retained earnings $4400 2490 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 Percentage of Sales Assets Current assets Cash Accounts receivable Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current abilities 2.750 Accounts payable 3.4001 Notes payable $ $ 2400 5,500 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.) Percentage of Sales Assets HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Current assets Cash $ 5 2.4001 5,500 Accounts receivable Inventory 2,750 3.400 9000 15,150 Te $ 5 $ 7.900 24,000 Total Long term debt Owner'equity Common stock and paid in surplus Fixed assets Net plant and equipment S 38,800 $ Retained earnings 20.000 2050 22050 53,950 Total $ 5 Total assets 5 5 3,950 Total liabilities and owners' equity