Consider the following income statement for the Heir Jordan Corporation:

HEIR JORDAN CORPORATION Income Statement
Sales					$	46,500
Costs						36,100
Taxable income					$	10,400
Taxes (30%)						3,120
Net income					$	7,280
Dividends	$	3,100
Addition to retained earnings		4,180

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.

HEIR JORDAN CORPORATION Balance Sheet
					Percentage of Sales								Percentage of Sales
Assets								Liabilities and Owners Equity
Current assets								Current liabilities
Cash	$	2,600						Accounts payable	$	2,400
Accounts receivable		3,700						Notes payable		5,200
Inventory		9,000
Total	$	15,300						Total	$	7,600
								Long-term debt	$	24,000
								Owners equity
								Common stock and paid-in surplus	$	17,000
								Retained earnings		4,900
Fixed assets
Net plant and equipment	$	38,200						Total	$	21,900
Total assets	$	53,500						Total liabilities and owners equity	$	53,500