Consider the following income statement for the Heir Jordan Corporation: Sales Costs HEIR JORDAN CORPORATION Income Statement $46,800 36,200 Taxable income Taxes (35%) $ 10,600 3,710 Net income $ 6,890 Dividends Addition to retained earnings $4.400 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 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 2.750 Accounts payable 3,4001 Notes payable Current assets Cash $ 2.400 5,500 Accounts receivable 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 Current assets HEIR JORDAN CORPORATION Balance Sheet Percentage of Sales Liabilities and Owners' Equity Current liabilities Accounts payable Notes payable Cash S $ 2,400 55001 Accounts receivable Inventory Total 2.750 3,400 9.000 15,150 $ Total $ 7,900 24.000 Fixed assets Net plant and equipment $ 38,800 $ Long-term debt Owners' equity Common stock and paid in surplus Retained earnings Total Total liabilities and owners' equity 20.000 2,050 22.050 53,950 $ $ Total assets $ 53,950